16 July 2022
2 min read
What are the Different Types of NFTs?
One of the most contemporary things in Web3 right now is Non-fungible tokens, commonly known as NFTs. The domain is booming, and there's no shortage of projects trying to cash in on their success.
Users looking to invest in digital collectibles are highly interested in the concept of NFTs. There is a trending variety, from art and design to video games. We've all heard of traditional collectibles, like baseball cards or coins for a specific team or sport. NFTs are similar in that they're digital collectibles that people can own but differ in many ways.
Here's a quick rundown of the different types of NFTs you might encounter in the blockchain ecosystem:
As the name depicts, they are digital representations of a piece of artwork. They represent the actual artworks or as a means of sharing and preserving the art in digital form. The most popular categories in art NFTs include Portraits, Paintings, Comics, etc. Many enthusiast artists are launching their artworks as NFTs to maintain their scarcity and uniqueness.
One of the most popular types of NFTs is Music, a digital file in MP3 or WAV format. The domain of music and media is constantly experimenting on the NFT domain, subsequently prompting one more class of crypto arts. It is feasible to mint music and media files into NFTs, empowering a person with a genuine proprietorship guarantee to get to the records. Many known artists are releasing their work as NFT and trading them over NFT marketplaces.
The gaming industry is heavily influenced by the applications of NFTs. They have evoked significant degrees of interest among gamers and developers. They can offer the utility of proprietorship records for in-game assets, driving the development of in-game economies. The game-related NFT includes skins, weapons, clothing items, etc. While in-game collectibles were standard prerequisites for a superior encounter of the games, non-fungible tokens can change their worth.
Collectibles or Trading Cards
NFT collectibles are the first type of non-fungible tokens to be ever launched. They are the same as physical collectibles, like Pokemon cards or vintage mint condition toys, but in digital form. Curio Cards was the first significant NFT collectibles ever launched. After that, several other collectibles, like Bored Ape Yacht Club, Cryptopunks, Cat Colony, Meebits, etc., took off.
Avatar NFTs & Virtual World NFTs
Avatar NFTs are similar to PFPs but allow users to create avatars that represent their real-life selves in digital form. These avatars are used on social media platforms, like Facebook, Twitter, or other applications, where it would be nice to have an avatar representing your identity. Metaverse NFTs can be bought with real money and used in a virtual world like Second Life or VRChat. They can range from clothing items such as shirts or pants to weapons, such as swords or guns; however, they often include both clothing and weapons at once!
NFTs are digital assets that are designed to be transacted within the blockchain. There are many different types of NFTs, including collectibles, skins, and more. NFTs are a new and exciting way to use blockchain technology in the real world.