Non Fungible Tokens (NFTs) have been making a name for themselves lately. Like all crypto trends, there are new projects popping up every day, forks or otherwise. This is in addition to the existing projects, which are branching out to NFT features or just attaching their name on the latest trend. But, there are a couple of projects that started purely with the NFT in their DNA. Here are the top 5 NFT projects by market capitalization.
5. Flow (FLOW) – $1.07B MC
Last in the top 5 NFT list, Flow describes itself as a blockchain designed for the next generation of apps, games, digital assets and all forms of NFTs. It’s powered by Dapper Labs – inventor of the CryptoKitties! The blockchain is supposed to provide a unique architecture, which doesn’t draw down on decentralization, while enabling high throughput. It’s multi-role architecture employs resource-oriented programming written in a secure programming language called “Cadence”. The FLOW token is the native token of the network.
4. Decentraland (MANA) – $1.82B MC
Decentraland is a virtual reality and digital sims platform, which allows users to create and experience their own reality. The users are able to purchase plots of land (non fungible unique digital assets) which they can build upon. It’s unique in the sense that the plots of land have a specific location, owner, content description and access controls. All content can be monetized and traded. The project has two tokens MANA – the ERC-20 token and LAND – the ERC-721 token for land record, acquired by burning MANA.
3. Enjin (ENJ) – $2.13B MC
Enjin is the oldest NFT project and the one which started the whole movement arguably. It’s a complete NFT ecosystem offering a plethora of products to allow and assist developers / users to work with non fungible tokens (NFTs). The Enjin team proposed and developed the ERC-1155 standard – now the proprietary standard for NFT tokens. It allows minting of NFTs without complex code, using a clean interface and allowing seamless integration into games, apps and platforms etc. Enjin has a fully featured platform, blockchain explorer, it’s own wallet and marketplace etc.
2. Chiliz (CHZ) – $2.43B MC
Chiliz is a NFT project, specifically aimed at sports and entertainment fans. It is a venture of Malta based Mediarex group – a global sports and entertainment organization. The major clients of Chiliz are football clubs Juventus, uventus, Paris Saint-Germain, Atlético de Madrid, Galatasaray, A.S. Roma, West Ham, Independiente and Dota 2 E-sports champions OG. Socios is a scalable, tokenized voting platform, powered by Chiliz. It allows sport fans to buy and execute voting rights in their favorite sports team. Chiliz has it’s own exchange for Chiliz based NFTs.
1. Theta (THETA) – $10.6B
On the top 5 NFT platforms list, the streaming platform Theta comes out at the top. It has a decentralized network where participants share bandwidth/computing power through a P2P infrastructure. Theta aims to level out the playing field, which has a major issue with censorship and unfairness to the content creators. The most famous DApp of Theta is the Theta.Tv, where users can stream, watch videos and upload their own. The users are divided into partners, affiliates and creators categories. Theta has an experienced team and better monetization than traditional content creation and distribution platforms.