Non-Fungible Tokens, known as NFTs, are the hottest topic right now in the world of decentralized finance and cryptocurrencies. Although the very first concept of NFTs was introduced in 2012, their popularity has grown exponentially within the last 2 years. But what is an NFT? Let’s start with a brief introduction before we jump into some of the most interesting NFT projects to date.
NFTs are essentially unique digital assets where no two pieces are the same. A great illustrative example is that of an artwork, such as a painting. An artist’s painting is one of a kind and even if they were to paint the same thing a second time, it would be slightly different from the first, making both of the paintings unique.
An NFT is indivisible, so it can’t be split into multiple parts and must be created, kept or sold as a whole. Just like one wouldn’t rip a painting into pieces and try to sell each piece separately, NFTs remain whole throughout all transactions.
The uses for NFTs span a broad range of topics and now that we know the basics, let’s dive into some actual projects looking to revolutionize the industry with their innovative use cases.
IMAGE: PIXABAY
Bondly
A portable peer-to-peer exchange that enables trading across any chain, through any medium. Bondly is a fully decentralized products ecosystem focused on innovative ways for users to buy and sell digital assets. Their most notable feature is their NFT collectible card games, including the widely popular PolkaPets. It’s similar to other collectible card games like Pokemon or Yu-Gi-Oh!, but the cards are collected, stored, and sold digitally on a secure blockchain-backed marketplace.
Bondly recently hosted popular YouTube influencer Logan Paul’s own line of NFT cards, which sold for a whopping $3.5 million. The influencer has since live-streamed the unboxing of his old pokemon cards, then sold the unboxing moments as NFTs on the Bondly marketplace, proving the range of collectibles that can be made into NFTs.
Bondly has lots of projects and collaborations in development and will be an exciting one to watch as they bring the future of NFTs to life.
Playcent
A blockchain-based user-generated content platform for interactive apps and games. Playcent aims to democratize software development by allowing non-techies the opportunity to easily create interactive apps, games, and other user-generated content in minutes. Capitalizing on the popular “remix” culture where people remix songs or videos into their own creative renditions, Playcent allows users to do the same with apps, games, and NFTs.
This is a new take on the socialization of apps and games, where the community can easily remake or build on top of one another’s creations. As this is still a very new project, tons of developments are still in the pipeline, but it’s certainly a company to keep your eye on.
Decentraland & Decentral Games
Create, explore and trade in the first-ever virtual world owned by its users. Decentraland is a massive ecosystem of different worlds built by its community. Users even have the ability to buy and sell NFTs in the form of virtual land, items, wearables, character names, and more through the Decentraland marketplace.
Decentral games, which is part of the Decentraland ecosystem, have built what they claim are the first community-owned metaverse crypto casinos. Currently, there are two major casinos developed within the virtual world, both uniquely crafted with thematic architecture and casino games.
Many of the games themselves are modelled after standard online casino games, so your winning slot machine strategies and blackjack tips can still be put to good use. They have also just announced a huge partnership with the iconic gaming company Atari to build an Atari-branded casino within the metaverse.
There is something for everybody in this ultramodern project, so whether you’re a developer, gamer, or just someone intrigued by the virtual world, you’ll have plenty of things to explore in Decentraland and Decentral Games. As a new enterprise, there is so much undiscovered potential here and it’ll be very interesting to see what they come up with next.
NBA Top Shot
A unique collectable card game where you can own the best moments from NBA history. They’re called cards, but really they are NFT’s in the form of actual video clips from NBA games, allowing collectors the chance to literally own a part of sports history. NBA Top Shot is officially backed by the NBA and this project has gained tons of popularity recently.
Like other collectible card games, there are different “tiers” of cards with some being rarer than others, and therefore more expensive. So owning an epic Lebron dunk or a clutch Curry 3-pointer might just put you in that elite class of collectors. No need to worry if you can’t afford to buy the exclusive cards, there are still plenty of awesome moments to collect at reasonable prices. You can even purchase “packs” which give you several cards plus a chance at getting a higher echelon card as well.
NBA Top Shot is revolutionizing the collectible card industry, so you definitely don’t want to miss this one.
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