You Must Know About These NFTs

The NFT market is buzzing with digital Mona Lisas, but the question is: besides tweets and pictures, what other types of NFTs are there in the wild? Here are the more common and sensible NFTs that are on the market. Here’s everything you need to know about them.

1. PFPs and Avatars

   Overview:

   Without a doubt, this format is what most internet users outside the NFT sphere think of when they think of NFTs. Owners of a PFP or avatar NFT are free to use them on their own social media profiles, most often as a digital flex. they’re essentially free ads for NFTs. Since the NFT boom of 2021, several celebrities have added PFP NFTs on their social media profiles.

   NFT examples:

   Most famous PFPs are Bored Apes, CryptoPunks, Cool Cats, Doodles, and all their offshoots and spinoffs.

2. One-of-one (1/1) artwork

   Overview:

   Some creators mint their work as a one-of-one NFT. Going this route means only one person may own the piece at any given time, inherently giving it more value on the open market.

   NFT examples:

   As evidenced by artists like Beeple, XCopy, and Pak raking in millions from their 1/1s, this strategy makes the most sense for creators hoping to utilize the scarcity imposed by NFTs on digital goods to their advantage.

3. Generative art

   Overview:

   Generative art is exactly what it sounds like — art that a computer has generated in some way. While often created by a generative algorithm or artificial intelligence (AI), some works created by physical robots also fall under this definition.

   NFT examples:

   Projects like Art Blocks, Autoglyphs, and Braindrops are pushing the envelope for this art form. Some projects are using generative art to create NFT merchandise for writers, giving them a solid entryway into the space.

4. Collectibles

   Overview:

   Big boom in the sports trading card and memorabilia market is happening online, as projects like NBA Top Shot demonstrate. Despite that project’s well-documented ups and downs, collectibles continue to be a viable format for NFT projects, especially when they’re tied to already-popular IP.

   NFT examples:

   Some famous NFT collectibles include NBA Top Shot, NFL All Day, WNBA Top Shot, Sorare, to name a few.

NFT collectibles, like their real-world counterparts, can vary in rarity and thus, a raised value. This makes them appealing to enthusiasts and collectors alike, who are willing to spend a lot of money to complete their collections. There are more types of NFTs that you should know about. Keep watching this space to get to know about the remaining types of NFTs.