What Is an NFT?
An NFT has become an essential part of crypto, which is difficult to deny. What exactly does it stand for? What are the essential points defying a perfect NFT:
- Indivisibility — NFTs have historically been indivisible when it comes to their utility.
- Rarity — NFTs can come in limited supply, that's one of the reasons driving their value.
- Exclusive — NFTs are unique, there can’t be two same NFTs — they're not interchangeable.
- Ownership — The original creators of the NFT have the private key to the account where the NFT exists.
- Transparency — Because public distributed ledgers are decentralized and unchangeable, all the details can be publicly verified, and buyers can trust and check on the authenticity of an NFT.
- Scalability — NFTs can be traded, bought, or sold within various marketplaces using a decentralized bridge or centralized custodial service.
What Is Ethereum?
Ethereum is an open-source, decentralized platform. The Ethereum network reminds the Bitcoin network, built on blockchain technology. That’s a virtual public ledger where all the financial agreements can be verified and stored by software with no third parties in the middle.
It’s something like a secure database that's still accessible to anyone. When new data "blocks" are added, they're cryptographically "chained" to a parent block, making a record of the previous changes impossible to change.
Ethereum is one of the largest cryptocurrencies after (or next to, if you want) Bitcoin because ether is the second-largest crypto next to bitcoin by market capitalization.
But some crucial factors make Ethereum stand out and differ from its compatriot, Bitcoin. There are smart contracts, which are self-executed agreements that ensure that assets change owners when particular conditions have been fulfilled in the platform’s core.
Besides, ether is the platform’s fuel giving it a utility and a fundamental value that bitcoin does not have.
Ethereum is used for NFT because:
- it’s a highly secure network and data architecture
- the Ethereum blockchain leads the decentralized finance (DeFi) market, so numerous NFT projects running on it as ERC-721 coins
- the blockchain provides NFTs with extensive access to a vast and growing market
- NFT systems should be Ethereum compatible so that Ethereum wallets can support them
Top 5 NFT Drops to Watch Out
Here are 5 top NFT projects that look like fun for any NFT devotee and holder. Check them out and pick the right one for you!
Chaotic DJs NFT
Number of Twitter followers: 35.6K Followers
The Chaotic DJs project allows the music community to Interact, Connect, Engage and Earn ($CHAOTIC).
Once you have a Chaotic DJ NFT, you have full access to such cool events as Chaotic Land festivals, exclusive events, and private parties. You’ll also get Music Education and Mentorship Programs, Social Music Platform with DJ-ing Opportunities, and DeFi Tools.
There are 4 Chaotic Animals to choose from – Tiger, Wolf, Bunny, and Ape – each has its own set of unique parameters to make them truly one of a kind.
$CHAOTIC is fuel for the entire ecosystem, and the token enables using of Airdrops, Rewards, Staking, and Swapping features.
Mint date: July
Collection size: 10’000
Number of Twitter followers: 19.8K Followers
NFTigz will take periodic snapshots of its holders to make them custom personalized 1/1's to be listed in its supplemental collection, the NFTigz - Custom Collection. Listed in the Custom Collection will be the 1/1's created by the orginal NFTigz artist for its holders, as well as 1/1's created by any aspiring artists from around the NFT space, with 100% of the sale of their chosen listing price going back to them as the artist.
Mint date: September 9th
Collection size: 9’000
Number of Twitter followers: 6,276 Followers
Animal Zoo Club is a series of collections creating the first metaverse zoo on the Ethereum blockchain. It has a unique, illustrative style that brings some sweet memories of being a child and revives memories of when you were a child discovering the animal world.
Who’s going to be the first animals to inhabit the zoo? Of course, adorable and fluffy llamas. 2 Llamas will be generated randomly. Each has various traits defining how valuable the NFT is. You get a chance to mint the first legendary 1/1 Llama. A person who finds it receives 3ETH and becomes a proud owner of an exclusive NFT.
Mint date: July 28th
Collection size: 2’222
Number of Twitter followers: 5,674 Followers
Such mighty NFT projects inspired the project as the Bored Ape Club, Crypto Punk, and Ether Rock collections. Stone Pets is a one-of-a-kind project created to offer collectors a sparkle of stone-centric Metaverse. So, if you’re into this authentic, you’ll definitely appreciate it.
You will get a chance to commemorate your purchase by engraving it with a personal message that will be there forever. Stones may be located around the globe, and players unlock multiple accessories for them while accomplishing the game’s tasks. For example, in "Vampire Survivors" fashion, you can gain experience and start your stones in preparation for a rather challenging game.
The charitable contributions will be made regularly, and the recipients will be decided by popular vote.
Mint date: July 23rd
Collection size: 8’000
Number of Twitter followers: 2,748 Followers
That’s a dog-themed NFT collection that allows every NFT holder to receive free weekly access to the Learn to Earn competition, where they compete for cash prizes and NFT raffles. Participants will answer questions on different topics such as crypto, trading, finance, and NFT projects.
A limited number of NFTs unlocks shared investment rewards from the community pool. The NFTs give the participants regular passive income earned with the same trading and investing strategies that can be found in the OG Underdog courses.
As you can see, the project has prepared some really awesome offerings to NFT holders: learn to earn challenges with a monetary reward, an NFT draw, tokenized financial education, trading and alpha channels, rich in information podcasts, and AMA sessions.
Mint date: August
Collection size 2’500
Follow the project on Twitter, Discord, Website.