The Ultimate NFT Guide 2023 – New to NFTs? START HERE
Wondering what are NFTs, how to buy them, and which are the best NFT projects? Let's explain everything you need to know in this NFT guide.
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Wondering what are NFTs, how to buy them, and which are the best NFT projects? Let's explain everything you need to know in this NFT guide.
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NFT gaming is a particularly hot trend in the large NFT space. It basically allows non-fungible tokens (NFTs) to be combined with a play-to-earn principle. A strongly emerging platform is Fractal NFT.
Fractal is an NFT gaming marketplace that offers numerous gaming NFTs. The platform focuses on transparency and security. Fractal wants to offer gamers a new in-game experience using blockchain and Web 3.0.
What is NFT gaming?Non-fungible tokens ( NFTs ) are unique, non-modifiable digital objects. They are based on the blockchain (e.g. Ethereum or Solana). Its unique digital signature can greatly increase the value of the NFTs. The popularity of NFTs has now spread from the art market to the gaming space.
The gaming industry has recognized the potential of NFTs and is now implementing them in its own gaming worlds. A popular principle is play-to-earn (P2E). The players can acquire NFTs in the gaming world through battles, challenges, or other tasks. They can then resell these NFT items to other players through various digital markets.
NFT Risks in Gaming?The concept only seems to have advantages for the players. However, the value of an NFT can also fluctuate greatly. The NFT market is relatively young and certain events can cause NFTs to fall in value quickly. Furthermore, a particular game may lose its popularity, causing in-game assets to depreciate even faster.
What is Fractal NFT?Fractal NFT is a marketplace for emerging NFT games and their gaming NFTs. The platform was developed by Twitch co-founder Justin Khan, among others. The platform offers a secure marketplace for new NFT games looking for reliable promotion on the platform.
Khan believes that blockchain and Web 3.0 technologies can launch a new generation of games. These games offer players the opportunity to earn as they play while providing an upscale, personalized gaming experience.
Fractal NFT wants to help the games to be more independent from platforms that take significant parts of the sales of the advertised NFT games. Developing and distributing an NFT game has so far had a huge cost and Fractal wants to make the market more accessible and affordable.
How does Fractal NFT work?Fractal NFT partners with Gaming Studios to offer gaming NFTs as they appear on the platform. These gaming NFTs contain in-game weapons, characters, houses, and many other assets. Fractal NFT aims to become a primary and secondary marketplace for such NFTs.
Fractal is positioning itself as the first primary exchange for gaming NFTs. It focuses on the NFTs that are part of the gaming world. The gaming developers make the gaming NFTs available before the entire game is launched. This has proven to be an extremely interesting and successful strategy for triggering hype about the respective game early on. Early adopters are particularly rewarded and thus become the new tribe of the game.
Furthermore, Fractal NFT offers a verification process. This sorts out potential fakes and unfair practices in advance. This brings security and trust to the buyer. The security of the platform is transferred to the NFTs and games offered.
What makes Fractal so unique?By partnering with the major developers at NFT Games, the platform gets NFTs straight from the source, giving Fractal a huge leap of faith. Furthermore, the costs that also arise for small gaming providers can be kept low.
At the moment, NFT Gaming is still a niche but has enormous potential for growth. Developers now have the opportunity to offer their products cheaply on a specialized platform. Fractal users get valuable gaming NFTs early on and at great prices, the value of which is very likely to increase in the future.
Fractal and OpenSea - What's the difference?OpenSea is the world's largest NFT exchange. Here you will find the best-known and most popular NFT positions. Learn more about OpenSea in this article!
Gaming NFTs can also be purchased on OpenSea. However, the platform is not as specialized as Fractal NFT. OpenSea is a much larger platform with an enormous selection. However, Fractal offers pure gaming NFTs and a more specialized selection, and lower prices on average.
In the future, Fractal could also transfer to other NFT areas if there is strong growth. However, this development is not yet certain and it is possible that Fractal will remain in the gaming NFT niche.
How to Use Fractal NFT platformIn the following, we would like to introduce some functions of the Fractal NFT platform.
How to connect a wallet to Fractal NFT?Go to the Fractal NFT home page. Then click on “Buy Now” in the top right.
Next you can connect your wallet to Fractal. To do this, go to “ Connect Wallet ” at the top right. You can choose from the following wallets:
How do I explore the NFT Games?If you want to check out the games on Fractal, go to Games at the top of the main menu. You can then view the game and its NFTs by clicking Explore Game . Below you can see a selection of gaming NFTs.
How do I buy gaming NFTs?If you want to purchase an NFT from the game, click on the box that shows the NFT. You will then see an overview of the NFT including the price in the form of the SOL token and the properties of the NFT.
If you want to buy your NFT, then click “ Buy Now ”! Once you have connected your wallet, you should be able to purchase the NFT directly.
A function for bidding is already included in the interface of Fractal NFT, however, the function is not yet available at the time the article was published (04/02/2021).
Now is a good opportunity to purchase the SOL token for fractal NFTs. Buy the SOL and other coins easily on the Binance and Bitfinex exchanges !
What's up for more features on Fractal?In the main menu in the header you will see the following:
You can also purchase the SOL on the crypto exchanges Coinbase and Kraken .
NFT Gaming© Cryptoticker
A Non-Fungible Token (NFT) is a cryptographically atomic, verifiable, and irreplaceable token that represents some entity, be it physical or digital, on a blockchain. Let's explain more in this extensive NFT guide.
What are NFTs?In order to be able to explain what Non-Fungible Tokens are, we need to break down the words that compose it:
NFTs are basically digital ownerships tokens, that run on blockchains that support smart-contracts, such as Ethereum. Their non-fungibility is similar to real-world contracts, where you can’t trade one contract to another, because the “actual content” differs from each other. Same things for NFTs, where you can't interchange them as their underlying “contract” changes with each one, hence their non-fungible nature.
How to create an NFT?As mentioned, Ethereum is the most popular network for creating non-fungible tokens. Ethereum was also the first platform to support NFTs, the majority of investors use them by default. But how much does it cost to create an NFT on the Ethereum blockchain? Seasoned investors remember the days when there was a $50 to $100 transaction fee for minting a single non-fungible token, depending on the time of day and the price of ETH. But that's no longer the case, and popular NFT marketplaces have found a way around these fees. Today, NFT artists can create their non-fungible tokens for free on the Ethereum blockchain.
If you want to create an NFT on Ethereum, you can use one of the most popular marketplaces like Rarible, OpenSea or Mintable. Once the wallet is connected, you can create a new non-fungible token and choose between normal minting or delayed minting. This is the first option when it comes to the cost of creating your Ethereum NFT.
However, in order to create and sell your own NFTs, you must meet a few requirements. The prerequisite is that you own the ownership of the artwork that you wish to sell in the form of an NFT. Otherwise, buyers will be deceived. However, the NFT portals themselves usually do not check this, simply because the check would take a long time.
You also need a certain amount of ETH to pay the fees. Since most non-fungible tokens are currently based on the Ethereum blockchain, buying ETH for these uses is recommended.
NFT Guide: What are the current NFT trends?Dynamic NFTs are data responsive and connected to existing infrastructure. The next evolution of NFTs is moving from static NFTs to dynamic NFTs, perpetual, smart contracts, such as those used by Chainlink with its oracles to communicate with and respond to external data and systems. Chainlink Oracle allows NFTs to use external data/systems as a mechanism to create/replicate NFTs, peer-to-peer trading and status checks.
One of the latest NFT trends is NFT staking . Holders receive a “staking reward” for staking NFTs. NFT staking is a promising subset of DeFi that can solve a number of issues related to NFT trading. Most importantly, it offers NFT owners the option to generate tokens with their NFTs without ever having to sell their creations.
If you want to buy NFTs, you can do this via trading platforms. As with all blockchain apps, the security of one's NFT wallet is paramount, and losing it is a major risk. For example, MetaMask is a crypto wallet that supports all types of Ethereum-based tokens. MetaMask can serve as a regular crypto wallet, but its real strength lies in its seamless connection to smart contracts and decentralized applications. MetaMask values ??data protection, encryption and is also open source.
What use cases are there for NFT?Non-fungible tokens can be used where virtual goods are assigned a token. This applies, for example, to music, digital art, or individual objects in computer games. Other popular use cases are:
• Metaverse NFT Use Cases : Because the Metaverse works just like the real world and involves real human participation, things like identity verification, asset transfers, and forms of exchange are required. This is where NFTs come in, as they offer all of this and more in the Metaverse.
• Play to Earn : When the tokens are connected to blockchain networks, in-game assets become transferrable and can be traded outside of the game. Any digital asset can be turned into a non-fungible token. This capability transforms blockchain games into play-to-earn (P2E) games. Play-to-earn is a game model that allows players to earn real money or other rewards while playing.
• Other NFT use cases are in the Player vs. Player segment or PVP. This type of game refers to a mode in multiplayer computer games in which two or more players or groups of players compete against each other. The term is practically only used for games that are primarily designed to be played together and offer different options. In PVP mode, participants can earn non-fungible tokens.
What are Cryptopunk's NFTs?CryptoPunks are among the first projects in the field of NFTs. Software engineers Matt Hall and John Watkinson created exactly 10,000 CryptoPunks in 2017. Many of these CryptoPunks have now been auctioned for amounts in the millions and are among the most expensive NFTs.
The most expensive CryptoPunk was the so-called CovidAlien, an extraterrestrial with a face mask. The pixelated head changed hands for $11,754,000. The pandemic will have been a real price driver.
NFT Guide: What is Opensa?OpenSea , the flagship NFT trading platform, hit a record nearly $5 billion in volume in January with over 500,000 active traders. As the leading firm consolidates its monopoly position, small platforms stand little chance of making headway in the Ethereum-based NFT market. However, LooksRare seems to have found a way out with the so-called vampire attacks. Vampire attacks are a common practice to move users, and therefore liquidity, from one platform to another. For the transition, beginners usually receive an amount in tokens. So the vampire attack is platform piracy that lures users with a bonus system. Not illegal or awesome, but powerful as evidenced by LooksRare's growth numbers.
What is the Bored Ape Yacht Club (BAYC) ?The Bored Ape Yacht Club is one of the collections of NFTs released during the heyday of the NFT hype. Because of this, many celebrities and brands have gotten their hands on this NFT collection. Bored Ape Yacht Club has launched in 2021 with unique images of monkeys.
The BAYC collection is already known in the media as one of the most famous collections of all. In December 2021, Bored Ape Yacht Club overtook CryptoPunks as the most expensive NFT. Bored Ape, along with other character-based NFTs, is "a status symbol for owners who regularly use their animated creatures as social media avatars."
According to CryptoSlam, the collection has amassed around 11,000 unique owners since its inception. On average, a bored ape was sold for 84 ethers, or about $344,000. Companies have been encouraged to buy Bored Ape NFTs. For example, Adidas bought one in September 2021. Many online media have reported on celebrities who collected BAYC in late 2021 and early 2022. Shaquille O'Neal, Eminem, Gwyneth Paltrow, Snoop Dogg, Stephen Curry, Mark Cuban, Post Malone, Paris Hilton, Serena Williams are among the celebrities who can call themselves BAYC NFT owners.
One of the most interesting news in the updated Bored Ape Yacht Club roadmap is a huge event. BAYC, Cyberkongz VX and Sandbox are said to be involved in this. There will also be a real meetup in Miami, this time exclusively for BAYC members. The Bored Ape Yacht Club roadmap continues to bear fruit!
What is Doodles NFT?Doodles NFT is a collection of 10,000 NFT doodles, portraying different characters such as cats, little animals, people, and even aliens. They are sketched in a hand-drawn way, depicted in a light and fun way. This project came to life thanks to 3 main founders: Evan Keast, Scott Martin, and Jordan Castro. They recently launched their space Doodles, with the main theme revolving around...space.
Each Doodle has its own breakdown of 5 stats:
MUTANT APE YACHT CLUB is a collection of 20,000 mutant monkeys that can only be created by influencing an existing Bored Ape with a flask of MUTANT SERUM, or by minting a Mutant Ape at a Public Sale.
To date, MAYC NFTs have had impressive results, not to mention their insane sales. According to DappRadar, the collection's all-time sales surpassed $847 million. Meanwhile, its minimum price reached 19.35 ETH, or around $60,000. No wonder they currently rank ninth among NFT collections in terms of all-time trading volume!
What is Aavegotchi?Aavegotchi is a Tamagotchi-inspired blockchain NFT game. Aavegotchi itself is available as an NFT. Each Aavegochi is unique and has individual characteristics. The more unique Aavegotchi's traits are, the rarer and more valuable it is. Aavegotchi allows users to create rare collectibles that they craft by depositing DeFi assets as collateral. These DeFi assets reside on the Aavegotchi lending platform.
$GHST is the Aavegotchi ecosystem's default utility token and serves to unlock portals, wearables, and consumables. A small portion of $GHST token transactions go to AavegotchiDAO members to encourage smart decentralized governance.
What is RTFKT-Clone-X ?RTFKT-Clone-X is the first release in "a broad ecosystem of high-quality PFP avatars that enable the Metaverse. If you are looking for an NFT avatar that you can take anywhere, this is the right choice. Besides this interesting fact, one of the reasons for the success and great value of RTFKT-Clone-X is that the buyer can modify the characteristics of the NFT by accessing its 3D file and with the project of the famous artist Takashi Murakami's work.
What is The Sandbox NFT?The Sandbox opens up a decentralized, virtual gaming world and is powered by the world's largest crypto exchange, Binance. Thousands of individual NFTs can be found in the sandbox world. The blockchain-based game allows players to create and monetize their own individual gaming experiences.
The sandbox game was developed in 2012 by the studios Pixowl and Animoca Brands. The video game was initially released for iOS and Android smartphones. It is a voxel-based game that uses polygons to graphically represent the game world. The world's most famous example of such a game is Minecraft.
Within the game world of the blockchain version of The Sandbox, gamers can purchase so-called parcels with digital currencies. One of these parcels is the LAND token, which represents 96 square meters of land in the game world. The LAND token is based on the Ethereum token standard ERC-721.
Players can then build their own objects on their properties or even develop their own smaller games. The gamers own their creations. They are their own NFTs and therefore their unique digital property. More information about Non-Fungible Tokens (NFTs) here .
NFT Guide: What is Decentraland MANA ?Decentraland is a virtual world running on the Ethereum (ETH) network. Users can buy plots of land as NFT because they are stored as non-fungible tokens and then build on them. Decentraland MANA is one of the biggest NFT trends. Essentially, Decentraland is a virtual world. It is browser-friendly and available for free. Users first create an avatar and can use it to enter the world. Decentraland doesn't have the fixed objectives or gameplay loops typical of video games. This is the biggest difference between a game and a Metaverse world like Decentraland: the latter contains very different themes and features, with no specific goals or reward systems running throughout the game.
Instead, content in Decentraland is created entirely by the community, such as mini-games or 3D scenes. Therefore we speak of a decentralized platform, as the name Decentraland suggests. Likewise, players can simply use the virtual world as a place to learn, explore, or for commercial purposes. The technical background is also worth mentioning: Decentraland is a blockchain platform based on the cryptocurrency Ethereum.
NFT© Cryptoticker
Non Fungible Tokens (NFTs) are the next big trend after the DeFi craze. They have been growing in popularity and impact lately. NFTs are Non Fungible Tokens, i.e. they are unique and not exchangeable on a 1:1 basis with other tokens. NFTs can be art, collectible cards, a person's time or provided services, game items, domains, etc. In short, all tokenizable real virtual "assets".
https://cryptoticker.io/en/tutorial-mint-nfts/Why do they matter? Because they can be used convincingly to prove authenticity and ownership on the public blockchain. Just like the original items or things, they retain their worth, even though the duplicates are arguably easy to make. Just like the original Mona Lisa is worth more than the identical copy you have hanging at home.
https://cryptoticker.io/en/enjin-nonfungible-nfts/Two Ethereum standards govern the creation, modification, and transfer of NFTs, namely ERC-721 (supporting single tokens creation and requiring a different smart contract every time) and ERC-1155 (supporting batch transfer and allowing a single smart contract to mint infinite tokens). To support the NFTs indexing and sale/transfer, different marketplaces have sprung up. The top 5 NFTs marketplaces are as follows.
What is an NFT?NFTs are basically digital ownerships tokens, that run on blockchains that support smart contracts, such as Ethereum. Their non-fungibility is similar to real-world contracts, where you can’t trade one contract to another, because the “actual content” differs from each other. Same things for NFTs, where you can interchange them as their underlying “contract” changes with each one, hence their non-fungible nature.
5. Enjin MarketplaceEnjin is the official marketplace for Enjin based NFTs. It allows users to discover, buy and sell NFTs from the web-based interface and also the native Enjin wallet. The marketplace was potentially one of the earliest to go online. It allows users to pay with ENJ - the native Enjin token, however, ETH is still required to process transactions.
Enjin Marketplace - OverviewThe platform is aimed at gamers especially, with different items usable across multiple games. Enjin marketplace has significant trading volume, lists thousands of assets, and features a clean clutter-less interface.
4. RaribleRarible offers minting and marketplace services for NFTs. It even has a governance token called RARI, which allows users to participate in voting on important matters. The users can keep the minted NFTs, gift them and sell them on the marketplace.
Rarible - OverviewThe interface allows for creators to set "royalties" meaning that they can receive shares from every subsequent transfer of ownership. The interface is neat and filled with simple tutorials to help people navigate around.
3. Super RareSuper rare, as the name states, deals in super rare art. It's an NFT marketplace that deals with unique digital art-works. The platform features a simplified experience, social profiles, mobile app, live auctions, extended payment options, and improved management.
Super Rare - Overview 2. DecentralandDecentraland is an informal NFT marketplace, it's best described as a fully decentralized digital world - a Sims-like virtual reality. The users can purchase plots of land (non-fungible unique digital assets) that they can develop upon. It includes the record of the location, owner, content description, and access controls.
Somewhere in DecentralandThe Decentraland DAO holds important smart contracts and assets that makeup Decentraland. It also controls a high amount of MANA tokens which allows autonomous function, provision of subsidy, normal operation, etc. The community can vote on policy updates, future LAND auctions, determining the NFT contracts allowed, builder and marketplace, etc. In short, they can vote on, whatever they want to vote on. The governance mechanism is built-in and powered by Aragon.
1. OpenSeaThe first and largest marketplace, OpenSea focuses on every type of Non-Fungible Token (NFT). It allows users to sell art, game items, collectibles, virtual stuff, domain names, etc. OpenSea variety and transaction volumes eclipse that of any other similar platform. The platform has auction features and integrations with crypto infrastructure.
OpenSea - OverviewFollow CryptoTicker on Twitter and Telegram for daily crypto news and price analyses!
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