5 Most Popular NFT Coins & How to Buy Them
Main Takeaways:
NFT coins are following close behind the success of NFTs, gaining popularity with investors and traders alike.
These NFT coins have a key role in NFT’s play-to-earn economy and the unfolding metaverse.
In this article, we introduce some of the most popular NFT coins and how they are being used in the metaverse ecosystem.
Find out how you can add popular NFT coins to your portfolio to gain exposure to the trending NFT space.
NFT coins are supporting the growth and economy of NFT and metaverse projects. Here are the top 5 hottest NFT coins and how you can buy them on Binance.
NFTs have enjoyed explosive growth ever since they entered the crypto scene, be it in terms of their adoption rate, creation rate or use case. Within a short span of time, NFTs have entered the mainstream media and near-future developments like the metaverse. The expansion of NFT applications and utility enable NFT holders to access and unlock exciting possibilities. Behind the scenes, NFT coins are working hard to support NFTs and are recently gaining attention for supporting the creation, transaction, and economy in the metaverse. In this article, we dive into what NFT coins are, how they differ from NFTs, popular NFT token picks and how you can get some on Binance to diversify into the NFT market.
The Binance platform is home to a wide range of NFT tokens and other tools dedicated to help users pursue financial freedom. Sign up for an account to get access to popular NFT tokens and invest in the NFT market today.
What Are NFT Coins? Hint: They Aren’t NFTs.
Not to be confused with NFTs themselves, NFT coins are any cryptocurrency coins used to support NFTs ecosystems. For example, Axie Infinity is an NFT blockchain game that uses their native token, AXS, to facilitate staking and voting to maintain the play-to-earn economy. Thus, AXS is Axie Infinity’s NFT coin. NFT coins like AXS, SLP and SAND help decentralized applications with a variety of important functions, from being an in-game currency to voting. And like any other cryptocurrency, NFT coins can be traded or invested in.
The main way NFT coins differ from NFTs is in their fungibility. NFTs, or Non-Fungible Tokens, represent ownership rights to unique digital or real-world assets, while NFT coins are fungible, i.e. they can be traded or exchanged for another NFT coin of the same value. As mentioned, NFT coins are the token currencies that power the economy of NFT projects.
5 Popular NFT Coins to Add to Your Portfolio
From being a medium of exchange, acting as staking rewards and being transacted as in-game currency, NFT tokens have great utility in the metaverses of projects. Below, we’ve listed the top 5 most popular NFT coins available on Binance, with prices of NFT currencies based on opening price at 22th February 2022 on Binance exchange.
MANA
Decentraland (MANA) is a virtual reality real estate platform that allows users to create, experience and monetize content as well as applications.
Players can use MANA to buy LAND NFTs and other digital assets on Decentraland. In addition, Decentraland creators can use MANA to incentivize virtual structures, experiences, theme parks and other entities. MANA tokens can also be used to pay for a range of avatars, wearables, names and more on the Decentraland marketplace.
Decentraland (MANA) is valued at a price of $2.79 and $4.48 million market cap as of 22 February 2022.
SAND
SAND is the main utility token and medium of exchange in The Sandbox ecosystem, allowing users to own, build and monetize their gaming experiences.
Players can accumulate SAND through gameplay, and then spend SAND to play games, purchase equipment, or customize avatars. Creators can also spend SAND to acquire assets such as LAND, or upload assets to The Sandbox Marketplace. If you’re a SAND holder, you can also participate in governance decisions and stake SAND tokens to earn rewards.
The Sandbox (SAND) is valued at a price of $3.22 and $3.18 million market cap as of 22 February 2022.
AXS
Axie Infinity is a blockchain-based trading and battling game represented by Axies, the in-game NFT characters.
AXS is the native governance token for the Axie universe. AXS holders can claim rewards if they stake their tokens, play or participate in key governance votes. AXS will be accepted as currency within the Axie NFT marketplace.
Axie Infinity (AXS) is valued at a price of $53.46 and $2.90 million market cap as of 22 February 2022.
GALA
GALA is the native token of Gala Games, a player-owned blockchain gaming platform of different blockchain games. Players that own NFTs can influence the governance of games within the Gala Games ecosystem. The GALA token is used to buy items, upgrades, and other in-game assets and also functions as the governance token.
Gala Games (GALA) is valued at a price of $0.25 and $1.55 million market cap as of 22 February 2022.
ENJ
Enjin coin is a project of Enjin, a company aiming to offer blockchain gaming products that make it easy for everyone to develop, trade, monetize, and market with blockchain. ENJ is a digital store of value used to back the value of blockchain assets like NFTs, giving in-game items real-world liquidity.
Enjin Coin (ENJ) is valued at a price of $1.54 and $1.19 million market cap as of 22 February 2022.
*This list is ranked according to market cap and does not constitute a recommendation or endorsement by Binance to buy or sell any currency.
How to Buy NFT Coins in 2 Simple Steps
Step 1: Deposit Fiat
Make a fiat deposit via an e-wallet transfer or bank transfer on Binance. Be sure to check the available fiat channels for desired currencies. For an in-depth guide, you can read this How to Deposit USD via SWIFT article.
Optional: Convert the fiat currencies to BUSD or USDT so that you can trade a greater variety of tokens.
Step 2: Purchase NFT Coin
Buy your first NFT coin through a wallet purchase or directly with your credit/debit card.
Conclusion
NFT coins play an important role amidst the rise of NFTs and the metaverse, especially in ecosystems where transactions and play economies are prominent. As more projects, and users, enter the playing field, NFT coins will continue to grow in terms of use cases and liquidity. Consider adding NFT coins to your trading portfolio or as a long-term investment. And as always, remember to DYOR before purchasing and committing to any NFT coins.
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