- NFTs are digital or physical assets represented by tokens that function as smart contracts on a blockchain.
- The NFT tokens suffered during the recent flash crash, along with many other cryptocurrencies.
- Keeping an eye on the cryptocurrency coins in use for prevalent collections is one way to invest in NFTs.
The five largest NFT-related tokens are MANA from Decentraland, Smooth Love Potion, Gala, Enjin Coin, and APECoin (APE). Let’s examine each one individually.
- Decentraland (MANA)
Users can interact in the virtual environment known as Decentraland using the internet, augmented reality, as well as virtual reality. In the Decentraland metaverse, land parcels are marketed as NFTs that serve as ownership documents. Landowners can build hotels, casino games, concert halls, and other venues and sell tickets to events afterward.
The coin is trading at $0.91, significantly down from its all-time high of $5.22.
- APECoin (APE)
The APE Ecosystem, which includes the Bored Ape Yacht Club, uses ApeCoin, another Ethereum-based ERC-20 governance, and a utility token to enable and encourage the development of a decentralized community in Web 3.
The current price of APECoin is $6.08, and it made an all-time high of $26.70.
- Smooth Love Potion
The in-game currency of the well-known blockchain-based gaming metaverse Axie Infinity is called Smooth Love Potion, and it is an ERC-20 token. Players amass special digital pets called Axies in this game, which are represented by non-fungible tokens that they can breed, trade, or use in combat with other players.
The current price of Smooth Love Potion is $0.003944, notably down from its all-time high of $4.09.
Gala Games is powered by the cryptocurrency GALA, which is based on Ethereum. It is a platform that seeks to revolutionize the gaming market by returning ownership of the gaming experience to the players.
Players currently invest countless hours into the game and money into in-game purchases, which can be revoked at any time. Gala is currently changing hands at $0.05 and is around 93% down from its all-time high of $0.84.
- Enjin Coin
An Ethereum blockchain-based platform for building online gaming communities is called Enjin (ENJ). By offering crypto-backed value as well as tools such as software development kits (SDKs), game plugins, pocketbooks, and virtual reality gaming management apps, including a payment gateway platform.
Enjin Coin is currently trading at $0.535, and it made an all-time high of $4.85.