Non Fungible Tokens (NFT) have broken one milestone after another in the past few weeks. The total volume has already passed the 100,000,000 US dollar mark, and more and more investors and companies are venturing into the NFT sector.
Many NFTs can easily be traded on Bitcoin Machine marketplaces such as OpenSea or Enjin via Metamask. Some of the NFTs reach very high prices due to their scarcity or function in games.
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In addition, the NFT sector can be divided into different categories. The five largest NFT industries are currently digital artwork, collectibles, in-game items, metaverses, and sports NFTs.
At the time of going to press , the NFT industry has, according to NonFungible the following trading volume:
Recently, most of the debates in the NFT space have revolved around the price of a tokenized work of art as well as the price of other tokenized objects.
But what are the largest crypto projects by market capitalization that are actively involved in the development of the NFT infrastructure and have a native cryptocurrency for their platform?
1. Enjin (ENJ): market capitalization of $ 128 million
One of the most famous crypto projects in the NFT space is Enjin. The team creates a blockchain-based ecosystem for virtual worlds and focuses on the gaming area.
In addition, the Enjin platform supporting the new ERC-1155-token standard that even more effective than the traditional products used for NFTs ERC-721 -Tokenstandard should be. As a result, the ENJ token can, put simply, transform gaming items on the blockchain into NFTs.
In the future, the ERC-1155 token standard should also make real objects on the blockchain tokenizable. In addition, ENJ can be used as a means of payment for items in a variety of games.
2. Decentraland (MANA): market capitalization of $ 114 million
Decentraland is a virtual platform based on Ethereum that enables users to purchase virtual objects within a virtual world with the MANA Coin .
Furthermore, users in Decentraland can use MANA as a means of payment for games and other services.
In addition, it is revolutionary that virtual properties or objects are mapped as NFTs on the Ethereum blockchain. The most expensive NFT ever traded in Decentraland cost according to OpenSea at the time, it was $ 215,200.
3. WAX (WAXP): Market capitalization of $ 57 million
Wax describes itself as a platform that allows you to create, sell and buy NFTs all over the world without restrictions
The platform Token WAXP, which runs on Wax’s in-house blockchain, can work with the EOS blockchain . According to a medium post, the crypto currency WAX is supposed to be von Wax will soon serve as a bridge between the EOS and Ethereum blockchain on September 30th.
This would make it possible to trade NFTs across blockchain. In addition, WAX should be able to be staked on the platform in order to receive part of the fees that are required for NFT trading on the Wax platform.