The 5 types of NFTs you need to know about

The world of NFTs is growing rapidly, and with that growth comes a variety of new types of tokens. In order to make the most out of this exciting new technology, it’s important to understand the different types of NFTs available. This article looks at five of the most important types of NFTs.

What are NFTs?

NFTs, or non-fungible tokens, are a new type of digital asset that is unique and different from other cryptocurrencies. Because each NFT is unique, it can be used to represent something specific in the real world.

For example, you might buy an NFT that represents your ownership of one Bitcoin or one share in a gold ETF. Or you could buy an NFT that gives you ownership of a particular document or piece of music.

There are even NFTs that are purely digital, as is the case with digital artwork or avatars for online games. Basically, there is no limit to the kinds of things NFTs can represent, whether physical or digital assets.

To help you navigate the complex world of NFTs, we’ve come up with the following list of five key types. Learning about these five types will give you a good overview of the many ways NFTs are used.

1. Trading cards/collectible items

If you’ve ever owned a baseball card, you know how fun it is to collect and trade them with your friends or buy and sell them at a store. Now imagine that your trading card could be digital – not just on paper or plastic, but in the virtual world where it would have real-life value.

This is exactly the case with collectible NFTs. The NFT market allows people to buy and sell digital collectibles, like limited edition cards or rare items from video games, for huge amounts of money. Companies can also put any type of item up for sale as an NFT. An example of these trading cards are Curio cards. They are the first sets of collectible cards on Ethereum and they are comprised of 30 unique sets.

So if you’re looking for something unique that you can’t find in the physical world, check out the NFT market. Who knows? You might just find the next hot collectible before anyone else does. So start collecting those digital tokens today, and you could be the next NFT millionaire!

2. Art

The most popular form of non-fungible tokens (NFTs) is art. Since they are so popular, art NFTs are also the kind that sells the best. The concept of NFTs offers artists a unique opportunity to sell their work online as though it were physical.

At present, some of the most expensive NFTs out there are pieces of art, sometimes created by renowned artists like Beeple. According to Luno, the most valuable NFT ever sold was “EVERYDAYS: THE FIRST 5000 DAYS” by Beeple, which sold for a whopping $69 million!

Many other extremely expensive and highly coveted NFTs are being purchased by billionaires. However, it’s important to note that these NFTs are not just any type of digital assets – they each have unique features that make them highly prized possessions.

3. Music

NFTs are also becoming quite popular among musicians. Musicians typically only earn a fraction of the money from their music because of cuts taken by streaming platforms and record labels. One NFT music that sold was Jacques Greene’s single titled “promise” that sold for $23,000

With NFTs though, artists can keep close to 100% of the income generated from their music. Naturally, this is a very enticing option for many musicians, and more and more of them are turning to NFTs.

We will likely see even more music NFTs in the future as artists attempt to take back control of their music and compensation.

4. Video game items

The world of video games is another area where NFTs are starting to make their mark. Companies have been selling in-game content, such as unique skins, avatars, or special abilities, for many years, but now many are beginning to sell in-game content as NFTs. An example of this is Axie Infinity, a free to play Ethereum based game.

Unlike regular downloadable content (DLC), NFTs are unique and can only be owned by one person. This makes them highly sought-after by collectors and gamers alike. Developers can still sell regular DLC, but offering an NFT version of limited edition content is a great way to generate buzz and interest.

5. Memes

You thought the internet couldn’t get any more interesting, right? Well, you can now buy and trade memes using an entirely new economic model.

On the NFT market, some of the most popular memes, like Nyan Cat, Bad Luck Brian, Disaster Girl, and others, are up for sale — raking in between $30K and $770K on average.

But that’s just small potatoes — the Doge meme is currently considered the most valuable NFT, selling for a jaw-dropping $4 million!

So if you’re looking for a cute or funny meme to add to your collection, why not give it a try? Just visit an online marketplace dedicated to NFTs and start browsing!

Wrapup

So, there you have it – the five types of NFTs. Keep in mind, though, that this just scratches the surface of the tremendous variety available in the NFT world. Want to buy a piece of digital land? There’s an NFT for that. Want to purchase a famous tweet? There’s an NFT for that too!

NFT creators are constantly coming up with new types of NFTs. There’s no shortage of possibilities, and there’s no doubt that we will continue to see NFTs used in novel ways in the coming months.

We hope, though, that this article has helped give you a clear understanding of the five main types of NFTs. With this knowledge, you are ready to continue exploring this exciting type of asset on your own.

Chat with the expert NFT promoters and marketers at Mooning

Sure, all the examples of NFT promotions we listed are from global brands with endless coin to throw at their campaigns. But you really don’t need a crazy-high budget to see some seriously incredible outcomes – as long as you know the delicate intricacies of building a killer NFT marketing strategy!

If not, no worries – Mooning is here to take care of everything for you and make sure you see the most amazing ROI you’ve ever seen before. Our team has the knowledge and experience to promote your NFTs in order to deliver maximum awareness and interest, driving the sales prices up sky-high and beyond.

We provide a full suite of expert NFT marketing services and go above and beyond for every one of our clients to ensure only the best results. Our team will help with everything from minting, listing and selling, NFT creator sourcing, community management and campaign conceptualisation.

So get in touch with us now on 1300 818 435 or message us online.