Government organizations and major companies now recognize and accept bitcoin as a legal means of payment. Cryptocurrencies such as Bitcoin and Ethereum have greatly contributed to the rise of digital currencies. Due to the growth of the crypto industry, a variety of digital currencies have emerged, and NFTs are one of them.
A fast-growing asset class, NFT coins have become popular in the financial and art worlds. The value of digital art was not as great as that of original masterpieces such as Picasso or Monet before the advent of NFT. Although the phenomenon of the NFT marketplace has made digital artwork more valuable and has also encouraged several digital artists to make their works.
Here is a list of the top NFT cryptocurrencies by market cap to check out in January 2022.
Market cap: US$4.106 billion
Decentraland is a virtual reality platform powered by the Ethereum blockchain that allows users to create, experience, and monetize content and applications. Users can buy land in this virtual world that they can later navigate, build on, and navigate. LAND and MANA are the two tokens owned by Decentraland. Platforms like this are excellent for content creators, individuals, and businesses that are looking for a new artistic medium.
Market cap: US$3.21 billion
Axie Infinity is a blockchain-based trading and battling game partly owned and operated by players. Token-based creatures called Axies can be collected, bred, raised, fought, and traded in the game. There are different strengths and attributes of this NFT that can be sold or used in the Axie marketplace.
Market cap: US$2.63 billion
Sandbox is a blockchain-based virtual world where you can create, build, buy, and sell digital assets in the form of games. In combining the powers of decentralized autonomous organizations (DAOs) and NFTs, SAND provides a decentralized platform for thriving gaming communities. Platform’s main mission is to successfully introduce blockchain technology into mainstream gaming.
Market cap: US$2.684 billion
This blockchain-based network is designed specifically for streaming video. In Theta’s mainnet, users have access to bandwidth and network resources on a peer-to-peer basis. Its token can be used for various governance functions within the network.
Market cap: US$1.17 billion
ECOMI is a technology company in the field of digital collectibles. VeVe is a blockchain-based digital collectibles marketplace that users can use to buy and sell their collectibles.
Market cap: US$1.664 billion
Flow is the first blockchain that is designed from the ground up for mainstream adoption, and the only blockchain that integrates usability improvements into the protocol layer. Many of the world’s biggest brands and top developers are building on Flow, enabling completely new experiences with top-tier content.
Market cap: US$1.40 billion
By regaining control over games, Gala Games aims to change the gaming industry for the better. To encourage more players to play blockchain games, the game’s objective was to encourage them to do so. It seeks to change the fact that players can spend hundreds of dollars on game assets and spend countless hours playing games that could be taken away with a click of a button. The game’s controls will make it easier for players to apply creative thinking to the game.
Market cap: US$1.41 billion
Enjin Coin is a project from Enjin, a company that provides interconnected, blockchain-based gaming products. On the Ethereum blockchain, developers can tokenize in-game assets. Enjin Coin is a digital store of value that supports blockchain assets such as NFTs.
Market cap: US$1.05 billion
Chiliz is a leading digital currency used in sports and entertainment. It operates a blockchain-based sports entertainment platform called Socios, which allows users to participate in the governance of their favorite sports brands.
Market cap: US$5.67 million
WAX is a blockchain that is designed to make e-commerce transactions more efficient, simpler, and safer for all parties involved. Delegated proof-of-stake (DPoS) serves as the consensus mechanism of the WAX blockchain. DPoS is fully compatible with EOS.