With all the NFTs dropping every day, the industry feels like Alice in Wonderland. There are different types of NFTs each representing something with its own unique value. If you are new to the NFT space, things can be difficult to understand.
First of all, we have different forms of NFTs, somewhere real artists put a lot of effort into the work that is worth nothing, and others have drawn simple sketches worth millions of dollars.
Additionally, everything can be an NFT. From images to music and videos, the market is flooded with different types of NFTs, and we are here to find out which are the most popular.
Most Popular Types of NFTs
Since the definition of what an NFT can be is pretty broad, pointing out that everything that can be digitalized can be turned into an NFT. With that said, let’s highlight some of the more common and sensible NFTs that are the driving power of the market.
Without a doubt, the most popular type of NFT is Art or Images. Art NFTs also performed the best in the past couple of years and it opened up the opportunity for artists to sell their own work digitally.
In the world of image art in the NFT space, most projects contain a collection of multiple images each with its characteristics making every picture unique. Such collections like the Bored Ape Yacht Club have been valued at billions of dollars.
Also, individual art pieces like “Every day” and “The Merge” have sold for more than $150 million in total.
What are the most popular types of NFT?
Video Game Items
The second most popular type of NFT is in-game items. Since NFTs are used to give something authenticity and uniqueness of ownership game developers found a perfect use for this technology in their games.
Now, game developers are introducing in-game assets like skins, characters, weapons, and other items in a form of NFTs. There are also games being created solely based on NFTs collections, like this one: https://wizardia.io/
This is a huge game-changer that will make the games more exciting to play as you’ll know that you have something unique as an in-game item that can later be sold and you can make a profit out of the transaction.
Trading Cards/ Collectible Items
It seems like the NFT technology has been designed specifically for digital trading cards. In fact, some of the oldest NFT projects way back in 2015 that was built on a Bitcoin blockchain represented digital trading cards.
Additionally, limited edition physical baseball cards are selling for thousands of dollars, and the NFT market isn’t much different.
With the use of NFTs people now can buy virtual versions of trading cards and keep them just like the real thing.
Another form of NFT that is also quite popular is NFT music. For decades music has been considered a fungible good, just because it is being recorded and distributed on records, CDs, and digitally from streaming platforms.
However, some artists have followed the latest NFT trends and introduced new technology to their work earning them millions of dollars.
The sad truth about musicians is that they pocket only a fraction of their money due to streaming platform cuts and record label cuts. But with the introduction of NFTs, musicians can keep almost 100% of the money, which is why more artists are leaning toward this method.
Big Sport Moments
The NFT market found the use of such short clips that represent memorable sporting moments. Can you imagine having an iconic moment in sports history like game-changing touchdowns, or last-minute goals that lead to big wins?
NFTs like the Top Shots NBA contains 10 seconds or fewer videos of iconic moments from sports history. These digital collectibles are also very popular among the public just because they actually are tied to a true sporting event that holds some value.