Oxalus Insights Guides

Top 9 Types Of NFTs You Need To Know

Guides Jan 30 2023
Top 9 Types Of NFTs

Non-fungible tokens (NFTs) have a variety of possible applications. However, since the NFT period is still in its early stages, it could be some time before we see more large-scale projects that apply NFT to different aspects of life.

Most of today’s famous NFTs fall into two categories: collectible NFTs and artwork. This may lead many people to think that the applications of NFTs are not diverse. So, here are the 9 types of NFTs you should know to keep up with the trend.

1. PFPs and Avatars

Without a doubt, when people outside the NFT community think of NFTs, they typically think of this format. And that’s on purpose; if you quickly search for “NFTs” on Twitter, you’ll find several tweets from users who have Bored Apes, CryptoPunks, Cool Cats, Doodles, Reddit Avatars, and all of their spinoffs for their avatars. PFP or NFT owners are free to use them on their own social media sites, most frequently as a kind of digital flex. A popular example for you to easily imagine is Reddit Avatars, the famous NFT collection from the famous social network that has been storming in recent times.

2. Generative Art

Art may be the most popular type of NFT. This is the reason why art is also the NFT type with the highest sales. When NFTs were created, artists had a fantastic opportunity to sell their best artworks virtually, just as if they were physical works of art. Several of the most expensive NFTs available right now are artworks. Famous artist Beeple’s “Everyday’s: The First 5000 Days” is one of the most expensive NFTs ever sold. The amazing price of this art was up to $69 million.

3. Collectibles

The market for sports collectibles and trading cards has recently experienced a rise, but not only physically. As seen by projects like the CR7 collection and NBA Top Shot, it also occurs online. Collectibles continue to be a suitable format for NFT projects despite the well-documented rise and decline of those projects. NFT collectibles, like their real-world versions, can have varied levels of rarity and thus value. Therefore, they attract both collectors and enthusiasts who are willing to spend a lot of money to complete their collections.

>>>Join us on Oxalus Wallet App to receive more NFTs news, helpful hints, and hidden gems.

4. Photography NFTs

Photography NFTs are becoming more and more popular, and they are expected to keep expanding in 2022 as more professional photographers join the platform. There were many photographers like Julie Pacino, Justin Aversano, and J.N. Silva who have so far found success working in the NFT industry. In 2023, we expect to see more producers combine photography with other creative disciplines as this NFTs market continues to expand to explore the previously unexplored creative potential in the NFT space.

5. Music NFTs

A music NFT is a tokenized representation of a musical composition, such as a song, an album, or even a music video. Artists can now earn money while maintaining creative freedom by using platforms such as Sound.xyz, Royal, and OneOf’s CO/SIGN initiative, thanks to NFTs and blockchain technology. Owners can also share the value of the release in some music NFTs. For instance, 3LAU’s Royal business allows supporters to finance an artist’s creations.

6. Gaming NFTs

Players can possess in-game assets including skins, weapons, digital accessories, characters, and virtual land in the metaverse via NFT-driven play-to-earn (P2E) games, also known simply as “blockchain games,” and sell these digital assets to receive rewards in crypto. Axie Infinity, The Sandbox, Decentraland, and Mones are a few of the most popular NFT games.

7. NFT Event Tickets

NFT use cases are expanding beyond digital art and avatar NFTs as the Web3 ecosystem grows. Even event tickets are now being used to establish music and other events on blockchain. For both live and virtual events, NFT ticketing enables users to utilize tokens as access passes. This is distinct from regular digital tickets since it gives issuers access to more detailed attendance data while enabling them to send out announcements, hold unexpected contests, and create fan-only websites and services.

8. Membership Passes

Although NFT-based memberships are a unique element of the NFT market, for the most part, they have developed together with PFPs to offer holders incentives. NFTs are used as access keys by these exclusive programs to open a variety of services and incentives, including both virtual and actual experiences. The Bored Ape Yacht Club is one of the earliest examples of NFT memberships. Early on, Yuga Labs welcomed their yacht club concept by allowing access to specific areas of their website and Discord server to anyone who owned a BAYC NFT.

9. Domain Names

Before the word “NFT” was ever invented, domain name NFTs were a significant component of the web3 ecosystem. The acquisition and management of domain names for websites, wallets, NFTs, and other digital assets have become incredibly straightforward for consumers thanks to popular platforms like Ethereum Name Service, SpaceID, and Unstoppable Domains. These domain names are tradeable NFTs existing on the blockchain; some of them have been purchased by well-known businesses and demand high prices on the secondary market.

Here are the 10 types of NFTs you should know: PFPs and Avatars, Generative Art, Collectibles, Photography NFTs, Music NFTs, Gaming NFTs, NFT Event Tickets, Membership Passes, Domain Names.

Free Newsletter

Always stay up-to-date with the latest news

Maybe you like

My Cart (0)

Empty cart

Add items, and see how much

gas you can save

Connect Wallet