10 Types of NFTs Everyone needs to know about

It is safe to assume that anything could be an NFT, and this is not far from the case.

With more interesting NFT use cases being discovered day in and day out, researching so many various sorts of NFTs might be confusing.

However, because we are still in the early phases of the non-fungible era, it may be some time before we see large-scale projects that aren’t tied to art in some way or form.

Different Types of NFTs

1. Profile Pictures (PFPs) and Avatars

At the core of it, PFP NFTs are digital tokens or artwork intended for use as a person’s social media profile photo. PFPs are used in several of the world’s most popular NFT collections. For e.g.

Bored Ape Yacht Club or Crypto Punks on the Ethereum blockchain,

Bored Ape Yacht Club PFP NFTs

DeGods, or Okay Bears on the Solana Blockchain.

Degods PFP NFTs on Solana MagicEden

Without a doubt, when most internet users outside the NFT world think of NFTs, they think of this format.

2. 1-of-1 Artwork

These 1-of-1 artworks may be paintings (digital or physical), cartoons, 3D animations, sceneries, videos, or any other kind of digital media.

Everydays: the First 5000 Days

Beeple (real name is Mike Winkelman)You must’ve heard the name of this American artist who recently sold his NFT entitled Everydays: the First 5000 Days, for the eye-watering sum of $69.9 million!

3. Generative art

Art that a computer has generated in some way. While most artworks are generated by a generative algorithm or artificial intelligence (AI), some are created by actual robots as well.

Linkedin Co-Founder Reid Hoffman Generative NFT
mångata — The road-like reflection of the moon on water.

4. Collectibles

Crypto collectibles are unique items minted on blockchain as non-fungible tokens for anyone to acquire.

An example of Collectibles NFT is — NBA Top Shot, NFL All Day, UFC Strike

NBA Top Shot NFT collection is a project where basketball fans can grab some unique collectibles to celebrate their passion for the game. The collection offers collectibles known as ‘NBA Moments’ in the form of NFTs.

The NBA Moments are a collection of NBA highlight clips, which you can use as trading cards. One of the interesting aspects of NBA Top Shot is the recreation of the tangible experience of collecting game souvenirs.

5. Gamified NFTs

Some of these popular games are Axie Infinity, Decentraland, and Realm Of Cuboids.

Credits: Realm of Cuboids

6. Music NFTs

Artists can now earn money while still maintaining creative control. Some music NFTs also allow owners to share the release’s value. For example, Fans can invest in an artist’s work through 3LAU’s Royal venture.

Some music NFT platforms: Sound.xyz, royal.io.

Credit: Sound.xyz

7. Metaverse Land

Sandbox Map

Examples of Metaverse Land NFTs:
a. Sandbox

b. Decentraland

Collectors are looking to develop their own space to call home in the metaverse, monetize their land, rent it out, build on it for others looking for a metaverse home, or eventually sell it.

8. Events and Ticketing

$1M Key — Lifetime access to Coachella

9. Domain Names

Example of Domain Names is ENS (Ethereum Name Service)

Nalikes Studio ENS Domain

Owning an ENS gives your Ethereum wallet address a unique name ending in .eth. This makes it much simpler to receive Ethereum than typing out your public alphanumeric wallet address.

10. Membership Passes

These unique programs make use of NFTs as entry keys to open a variety of services and rewards, including virtual and real-world experiences.

NFT memberships are often enforced by “token-gating,” which utilizes blockchain technologies to confirm ownership of the NFT and provide holders access to whatever member-exclusive benefits are available.

Closing Thoughts

Innovators, specialists, and organizations have a unique opportunity to choose the paths they will take to offer more valuable utilities to NFTs. However, the entire ecosystem, including holders, will be the ones to judge and pick which NFTs to buy and hold over time.

Upcoming utility NFTs trends are likely to feature more innovative utilities as well as a combination of different types of utilities.

Keen to get started? We can help. Check us out — and Let’s build together.

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