🤔 Wait, WTF are NFTs?
NFT stands for [Non-Fungible Token](https://opensea.io/blog/guides/non-fungible-tokens/). Which simply (assuming you have read [House of Ethereum](https://wiki.metagame.wtf/docs/great-houses/house-of-ethereum)) means that, unlike Fungible (ERC-20) tokens, each one is unique and not equivalent and interchangable. These are encoded in the standards [ERC-721](http://erc721.org/) and [ERC-1155](https://blog.enjin.io/erc-1155-token-standard-ethereum/) and some others, like composables: [ERC-998](https://github.com/ethereum/eips/issues/998).
This blockchain innovation started first with CryptoPunks before their was a standard in place. CryptoKitties was the first project, launched in 2017, to embed the Non-Fungible standard and take the idea mainstream.
Several characteristics of NFTs make them game changers:
- They allow for true ownership of digital-only goods in a transparent and indisputable way, thanks to the data being recorded on a public blockchain.
- Their liquidity and tradeability have spawned a whole industry of gmaes, marketplaces, auction houses, and virtual worlds.
- They create provable scarcity of digital items.
- They can be programmed.
That last part is incredibly powerful. We now have tokens presenting rare digital items that can be controlled by smart contracts to, for example, react to the price of Ethereum by changing features of an artwork.
So far, this wonderful innovation has mostly been used to maximise profit. But just imagine the other possibilities that this could lead to as a more efficient way of embedding information, using the more efficient information network of blockchain.
- Each NFT token is unique and not interchangable.
- This allows for true ownership of unique digital assets, like art.
- NFTs follow several standards on the Ethereum blockchain, such as ERC-721 and ERC-1155.
- As well as art and collectibles, NFTs have been used for ticketing, awards & gifts, "proof of attendance" (POAP) badges and much, much more.
- Many other use cases for NFTs are being developed all the time. Basically, anywhere possession of a unqiue token can allow the owner certain rights or privileges.
When it comes to NFTs, you are only limited by your imagination!
- Async Art (ASYNC-V2) Unique system of smart contract + rendering engine which composes tokens into one master image allowing for ever changing artworks and the ability to program layer token states to be triggered by external events, such as the price of Ethereum
- Blockchain Art Exchange (BAE) Fine art, photography, physical art and digital art. BAE implements a martketplace with DAO-like structure for artists.
- Codex Record (CR) Focusing on provenance, item identity and ownership. Specialising in physical items as well as digital. Offers the feature for the owner of the token to update the metadata (including the image) associated with the token. Codex holds all metadata themselves and only stores the hash on-chain, allowing the data integrity to be verified.
- DADA.art (ACAB + others) Digital drawing platform where artists respond to other artists and create visual conversations. Pioneering the Invisible Economy to offer a real alternative to the marketplace model of all other platforms.
- Ephemira (EPH) Curated platform for photography. One-of-one single editions. Welcoming galleries into the cryptoart space.
- KnownOrigin (KODA) Curated platform. Allows for editions of an artwork (a fixed number of tokens of one artwork), plus one-of-one tokens. Also enables 'split fees' which allow artists to enter an additional ETH address (for a collaborator, for example, or - as was initially intended - to be able to automatically funnel a percentage of sales to, say a charity).
- MakersPlace (MKT2) Curated platform. Editions and one-of-ones, 'hides' the web3 aspect from artists and users to make it more attractive to traditional artists.
- Mintable Provides a smart contract factory for artists to be able to create their own marketplace plus onsite tools like auctions and flexible licensing for digital assets. Has created an NFT DAO with $MINTS.
- Nifty Gateway Curated platform. Introduced the concept of drops turning auctions into events. Transactions happen off-chain, so can only be bought/sold on the site. Each artwork gets its own token contract.
- OpenSea Both the marketplace for all other marketplaces plus the ability to create your own smart contract and storefront. Interesting feature is that all metadata (including the image) can be changed at any time by the contract owner.
- Pixura Provides a smart contract factory for artists to be able to create their own marketplace via the GUI, also offers developer tools to programmatically issue & manage tokens, run queries against your smart contracts with GraphQL, and search through token metadata with Elasticsearch.
- Rarible (RARI) Not to be confused with the ERC-20 $RARI token. Marketplace for art + many other things. Also provides the ability to create your own contracts.
- Snark.art (AoQ + others) Curated platform specialising in bridging the gap between traditional and digital arts. Fine art and experimental focus.
- SuperRare (SUPR) Curated platform. One-of-one single edition tokens only, trend setting auction tools.
- ENS Decentralized naming for wallets, websites, & more. ENS is the most widely integrated blockchain naming standard.
- Unstoppable Domains Make your crypto currency payments simple and build censorship resistant websites.
- Cryptovoxels A user owned virtual world made from voxels.
- Decentraland Create, explore and trade in the first-ever virtual world owned by its users.
- The Sandbox Play, Create, Own, and Govern a virtual world made by players.
- Somnium Space Open, Social & Persistent VR world.
- Crypto Kitties Collect and trade CryptoKitties in one of the world's first blockchain games. Breed your rarest cats to create the purrfect furry friend.
- Crypto Punks 10,000 unique collectible characters with proof of ownership stored on the Ethereum blockchain. The project that inspired the modern CryptoArt movement.
- Avastars Quadrillions of avatars generated on the fly from many layers of custom artwork, each mintable as a non-fungible token (NFT) on Ethereum.
- F1 Delta Time A blockchain game on Ethereum. The game centres around the collection and trading of unique Cars, Drivers and Components.
- MLB Champions Offers authentic digital figures of your favorite MLB players! Build a collection to challenge fans in simulated baseball games.
NFTs x DeFi
- Aavegotchi DeFi-Staked Crypto Collectibles
- Meme Ltd. Meme is an experimental protocol mashing up some of the most exciting innovations in DeFi.
- Axie Infinity A Play to Earn revolution - Axie is a new type of game, partially owned and operated by its players.
- Gods Unchained The ultimate digital trading card game that gives players true ownership of their collection.
- Skyweaver A trading card game from another dimension. Currently in private beta.
- Battle Racers The blockchain arcade racing game on Decentraland