A new understanding of digital art emerged as art entered the blockchain world. Unique tokens called non-fungible tokens (NFT) have become the cornerstone of the crypto art. NFTs sold for thousands of dollars were enough to surprise some. So what are these NFTs and what are the biggest NFT platforms?
People recently spent hundreds of thousands of dollars to buy NFT. One of them Homer Simpsons character. Homer’s ‘Homer Pepe’ NFT, complete For 326 thousand dollars sold.
As another example CryptoPunks High-volume sales realized on the platform can be shown. Sold for 750 ETH on March 2 Punk 2140, 1.1 million dollars does.
What is NFT?
NFT, known as a non-reproducible token; Refers to a unique token in the blockchain network that cannot be broken down into small pieces. Each NFT has a unique feature. Game, painting, music, sports, tweet and NFT tokens belonging to many other domains can be made.
NFTs, which are completely unique, are the only ones of their kind thanks to their unique structure. At the same time, NFTs cannot be exchanged. NFTs; They can be created in blockchain networks such as Ethereum, Eos, Neo.
Their scarce supply can make NFTs attractive. This can increase the price of tokens.
What is the NFT marketplace?
NFT marketplaces are platforms that connect NFT tokens with buyers. NFT trading can be done or browsed for new works on these platforms.
According to Ivanontech Academy, Ethereum was the first network to create the NFT marketplace. Ethereum, which did this with the ERC-721 token standard, was followed by ERC-1155. In late 2020, Binance released the Smart Chain BEP-721 and in 2021 the BEP-1155 token standard.
Thanks to the developing crypto art sector, the NFT marketplace can be expected to grow in the future. According to DappRadar data, the number of available marketplaces listed is 12. Now let’s get to know the 5 biggest NFT platforms.
- DappRadar volume: $ 9.86 million
- NBA TopShot allows NBA players to save their special moments via NFT.
- NBA TopShot has more than 40 thousand users.
- It has sold more than $ 200 million.
- NFT can be obtained by choosing the desired team from the platform.
- The most expensive NFT sold for 208 thousand dollars was “Cosmic”, which reflects a dunk moment by Lebron James.
- DappRadar volume: $ 4.11 million
- The platform established in 2017; sells NFTs of various artworks and collectibles.
- There are thousands of products on the platform, from low-priced items to expensive-priced NFTs.
- There are NFT tokens belonging to many fields such as art, domain names, virtual worlds, digital cards, collections, sports.
- Users can use the platform by signing up with wallets such as Metamask, Bitski, Walletlink.
- DappRadar volume: $ 2.36 million
- There are 10 thousand unique NFTs on the platform created with the ERC-721 standard in the Ethereum blockchain. Each character created is unique.
- CryptoPunks is the pioneer of the modern CryptoArt trend.
- It has been mentioned in platforms such as The New York Times, The Financial Times, and Mashable.
- Total NFTs sold in the last 12 months: 6,721
- Average sales amount: 17,517 dollars
- Total sales: $ 118 billion
- DappRadar volume: $ 951.25 million
- Sorare is an Ethereum blockchain based NFT gaming platform.
- The platform contains digital products belonging to 126 licensed football teams, including Fenerbahçe.
- Players expand their collections by exchanging licensed digital cards of their chosen teams in-game.
- Users create their own teams and earn points based on real-time team performance.
- Those who succeed win various awards.
- DappRadar volume: $ 855.9 million
- Rarible functions as the first community-owned NFT marketplace.
- It uses the ERC-721 token standard on the Ethereum blockchain network.
- It promises safe trading transactions thanks to blockchain.
- Community supported, auction is held, approved producers are found, no coding required, multiple NFT creation operations can be performed, and there is a reward system.
- There are more than 20 thousand creators and collectors on the platform.
- It has a local token named RARI and with this token, users can have a say in the platform.