NFT crypto coins have enjoyed explosive growth since they entered the crypto scene, be it in their adoption rate, creation rate, or use case. Within the last few years, NFTs coins have entered the mainstream media, gaming world, and metaverse with fast growing market cap.
The expansion of Non-fungible token (NFT) applications and utility enable NFT token holders to access and unlock new exciting possibilities. Behind the scenes, NFT coins are working hard to support NFTs and are recently gaining attention for supporting the metaverse creation, transactions, and economy.
This article will dive into some of the best NFT tokens, how they differ from NFTs, and details and tokenomics of popular NFT tokens.
What Are NFT Coins?
NFT coins are cryptocurrencies and are different from NFTs. NFT currencies are any cryptocurrency coins used to support the ecosystem of NFTs. For instance, Sandbox is an NFT metaverse that uses its native token, Sand, to facilitate staking and voting to maintain its virtual worlds and play-to-earn economy. Thus, Sand is Sandbox’s NFT coin. NFT coins like Mana, Gala, and Axs help decentralized applications with various essential functions, from being an in-game currency to voting. And like any other cryptocurrency, NFT coins can be traded or used for buying NFTs.
According to Coingecko, NFT currencies have a vibrant economy with a market capitalization of about $15.8B.
How is an NFT different from an NFT coin?
NFTs and NFT crypto coins are based on blockchain, with the same technology and principles. Therefore, they tend to draw in the same crowd of blockchain enthusiasts. NFTs are a subset of the blockchain, and you’ll almost always require cryptocurrency to buy and sell them.
However, the fundamental distinction is revealed in the name. A cryptocurrency is a form of currency valued in its ecosystem. Its basic form has no intrinsic value and is fungible, just like any other currency.
That means no matter which crypto token you hold within a cryptocurrency; it has the same value as the next; 1 $ETH = 1 $ETH. NFTs, on the other hand, are non-fungible and have a value far beyond economics, usually affected by the laws of supply and demand.
Simply put, NFT coins differ from NFTs 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 exchanged or traded for another NFT coin of the same value.
1. Sandbox Sand
Sand is the native token of the Sandbox metaverse; it is used for paying for NFTs in the Sandbox marketplace and is also a governance token. It is an ERC-20 token built on the Ethereum blockchain.
Sandbox is one of the earliest and largest metaverse worlds built on the Ethereum blockchain. Sandbox blockchain games stand out because they enable players to create monetizable content.
Digital collectibles are user-owned thanks to blockchain technology that enables user identities through NFTs.Think of The Sandbox as an NFT-powered Roblox or Minecraft; you can play and build assets.
Sandbox enables players to create a world of their own, adding games and experiences to help build the metaverse inside The Sandbox. Players can explore other players’ worlds, play games, and import content into the metaverse while exchanging value through the Sand token.
The sand token has experienced a lot of momentum, with significant backing from major brands such as AMC’s The Walking Dead, Atari, the Smurfs, and NFT projects like Bushidos are partnering and featuring in The Sandbox.
The game is currently available for Windows PC and Mac.
Total Supply – 3,000,000M
Binance Launchpad sale price – $0.008333/ Sand
Circulating supply – about 1,000,000M
2. Axie Infinity AXS
AXS is the native token of Axie Infinity, a monster collecting NFT card game developed by Vietnamese studio Sky Mavis, famous for its in-game economy. It is an ERC 20 token built on the Ethereum blockchain.
Axie infinity’s NFT coin serves as a governance token, allowing token holders to vote on the future development of the gaming experience. Smooth Love Portion is the in-game token to breed Axies in the NFT market.
March 2022 was a fateful day for the Sky Mavis’ Poké-clone game fans. The Ronin network got hacked, resulting in the loss of hundreds of millions of dollars of cryptocurrencies stolen from its coffers. Ronin is an Ethereum sidechain that minimizes transaction fees, enabling easy access for prospective players.
Axie Infinity players collect, mint, breed, and trade NFTs known as Axies. Players pit their Axies against each other in a turn-based battle royale.
Axie Infinity AXS game is available on Android, iOS, Microsoft Windows, and Macintosh operating systems.
Maximum supply- 270,000,000
Circulating supply – About 90,000,000
3. Decentraland Mana
Mana is the native token of the Decentraland, a platform that offers some of the best NFT games to play in the metaverse. It is an ERC 20 token built on the Ethereum blockchain. According to site information, Decentraland is so much Decentralized that the private key that the dev team threw away game access to the Mana smart contract. Mana tokens are used as a store of value for trading non-fungible items in the Decentraland marketplace.
For access to Decentralad, players are required to create personalized characters that they can use to explore the digital world. The real estate on the metaverse is customizable as NFTs making it possible to sell it on the marketplace. Decentralized provides an exciting journey for its players by regularly launching new experiences.
Major brands on Decentraland or bought “properties” in it, like Atari, Samsung, Adidas, and Sotheby’s, held their first metaverse auction.
Circulating Supply- 1.85 billion MANA
Total Supply- 2.193 billion
As more LAND is purchased, more MANA is burned. Equally, all Decentraland marketplace transactions carry a 2.5% MANA token burn.
Mana was allocated as follows:
- ICO: 40%
- Community incentives: 20%
- The development team and early contributors: 20%
- Decentraland allocation: 20%
4. Ecomi Omi
Omi is the native crypto tokens of Veve and Ecomi technology company based in Singapore, which aims to lead the way in the emerging digital art collectibles space and protect digital assets. Omi was initially launched as a GO20 token on GoChain and later migrated to Ethereum via Immutable X to become an ERC20 token. Omi NFt coin is used to make store purchases and in-market transactions.
VeVe is the leading mobile digital collectibles platform, with over 300,000 users and more than 500,000 digital collectibles sold since it went live at the beginning of 2021; the app is consistently ranked among the top entertainment apps in the world.
VeVe offers the world a new way to participate and interact with their favorite fandoms with officially licensed, premium 2D and 3D digital models and artworks from some of the world’s biggest brands, including Warner Brothers, General Motors, DC, Cartoon Network, Givenchy, Universal Studios and more.
Transactions within the VeVe digital collectibles elements are underpinned by the OMI token, which is complemented by an innovative burn and buy-back system based on the sale of NFTs. Omi has future staking opportunities and a range of additional incentives designed to maximize the token’s utility and scarcity. OMI token offers a range of utilities within the ecosystem that will continue to be integral to the app’s operation while maximizing value for token holders.
Omi token burns and buybacks continually reduce the circulating supply of Omi. As these features are based on the sale of NFTs, they will continue to deflate the circulating token supply regardless of market conditions.
Total Supply – 750B
OMI tokens initial distribution:
- VeVe Reserve Wallet- 300 bn tokens. These tokens never enter circulation.
- VeVe Vault Wallet- about 40 bn OMI
- Business Development- 20% or 150B
- Team, Advisors, Board Members- 20% or 150B
- Private sale and public IEO- about 110B
Vault wallet and Reserve wallet tokens will never enter into circulation.
Gala is the native token of the Gala gaming ecosystem. It is an ERC20 token on the Ethereum blockchain.
Players get to own what they win in our games truly. It is yours if you earn or win a magical sword on the Gala Game Platform. Your items and any inherited status are verifiable assets on the blockchain you can trade to another person or play with in-game.
The Gala Network is supported by users who operate Gala Nodes from their home computers.
There are many uses of GALA within the Gala Games ecosystem. Primarily the tokens are used to purchase NFTs or digital artwork in the ecosystem.
Maximum supply – 50 billion units
Circulating supply- 7 billion GALA
According to the official GALA whitepaper, 17,123,286 GALA are distributed daily — half of which goes to the founder’s node operators. In contrast, the other half goes to the Gala Games conservatorship.
Gala Games included a halving cycle in its emission schedule, which is halved each year on July 21.
6. Enjin coin ENJ
Enjin Coin ENJ is an Ethereum-based cryptocurrency (ERC 20) used to back the value of next-gen fungibles and NFTs.
Users can melt their Non-fungible tokens back into ENJ anytime, increasing confidence in their assets and projects. When existing NFTs are melted, scarcity increases, lowering the supply and increasing their value.
When ENJ coin is stored within NFTs, they prove their origin and guarantees their compatibility with the Enjin ecosystem. Unlike other digital assets, NFTs backed by ENJ coin give them value and can be destroyed anytime.
Enjin is a platform for creating, listing, and managing digital assets. Enjin provides the needed to launch NFT projects that help you generate new revenue streams and accelerate your company’s growth.
Maximum supply- 1,000,000,000
Circulating supply- 846,734,704.57
The ENJ tokens’ initial allocation:
- Presale – 40% 400,000,000 ENJ
- Crowdsale – 40% 400,000,000
- Company reserves- 10% 100,000,000 ENJ
- Team and Advisors- 10% 100,000,000 ENJ
The FLOW token is the native currency of the Flow ecosystem, ultimately required for the network and all the applications on top of it to function. Flow token is hosted on its blockchain – The Flow blockchain.
FLOW is designed as a payment method and long-term reserve asset for the entire Flow economy. The token is a low-inflation asset used by validators, developers, and users to participate in the FLOW network and earn rewards. It is also used to transfer fees, serve as collateral for secondary tokens on Flow, pay for storage, and to participate in future protocol governance.
Flow Network is a powerful tool for developers and NFT creators to create empowering user experiences, primarily for blockchain-based games and digital collectibles. Every aspect of the platform was designed from the ground up to support exceptional experiences at a mainstream scale.
Circulating Supply- 1,036,200,000
Total Supply- 1,392,681,892
The Flow tokens’ initial allocation:
- Pre Launch Backers and Community Sale- 27.78%
- Development Team- 16.67%
- Dapper Labs- 18.53%
- Ecosystem Reserve- 29.66%
- Staking Rewards- 7.37%
8. Chilliz CHZ
Chiliz Chz is an ERC20 and BEP20 coin native to the Chiliz ecosystem, the brain behind Socios.com, a fan engagement platform.
Socios.com allows fans to acquire assets like branded Fan Tokens from some of the world’s biggest and most renowned sports teams, including FC Barcelona, Juventus, PSG, AS Roma, Galatasaray, Atlético de Madrid, OG, CAI, and UFC.
Fan Tokens bought on the platform allow users to influence their teams via popular vote and become eligible for engagement-based team rewards and recognition. The Fan Tokens are minted using the Chiliz blockchain, and all on-platform voting is executed as a series of smart contracts which run through the Chiliz blockchain.
Total Supply – 8,888,888,888
The CHZ tokens’ initial allocation:
Private Placement- 3,066,666,666
Chiliz issued to Team and Seed Investors- 1,111,111,110
Chiliz issued to Advisory Board- 266,666,666
Userbase Reserve- 1,777,777,780
Marketing Operations- 1,333,333,333
Strategic Acquisitions- 1,333,333,333
ApeCoin is an ERC-20 utility and governance token used within the APE ecosystem to empower a decentralized community building at the forefront of web3.
The digital asset gives its participants a shared, open currency that they can use without centralized intermediaries. ApeCoin provides access to parts of the ecosystem that are otherwise unavailable, such as physical assets, exclusive games, events, and services. It is also a tool for third-party developers to participate in the ecosystem by incorporating APE into services, games, and other projects.
Total supply-1 of billion tokens.
Apecoin has no minting and token burn capabilities.
The Apecoin tokens’ initial allocation:
Ecosystem fund- 62%
Yuga las and charity- 16%
Launch contributors- 14%
BAYC founders- 8%
As of 17 March 2022, BAYC AND MAYC holders could claim Apecoin.
Theta tokens are the governance token of the Theta network that provide users with various functionalities. The token is used to stake as a Validator or Guardian node, to produce blocks, and to participate in the protocol’s governance.
Theta drop is an NFT and Digital Assets platform that is fast, green, and powered by THETA Network. The Theta network works similarly to other blockchain protocols. The Theta project promises to revolutionize the video streaming and information delivery sectors by allowing users to share the bandwidth using peer-to-peer (P2P) distribution technologies.
End-users pay for content delivery networks (CDNs), widely spread to provide video stream content. Due to geographic constraints, existing CDNs cannot keep up with high-quality streams.
Theta pays its worldwide pool of users for relaying videos by allowing them to give their spare bandwidth and computing power. The Theta network provides low-cost transactions for its users.
Total supply- 1,000,000,000 THETA
The Initial token distribution of THETA is as follows:
Private Sale- 30.00%
Network Seedings- 12.50%
Lab Reserves- 36.28%
WAXP is the native currency of the Wax Web3 gaming and NFT marketplace. The Worldwide Asset Exchange (WAX) has emerged as a popular blockchain for non-fungible tokens. It has a significant network for digital collectibles and virtual items, and it’s a widely used and highly efficient choice for many NFT enthusiasts.
Wax has launched successful Games and popular NFTs, including Blockchain Brawlers, Funko, Topps, Capcom, and more. We’ll guide you through minting and releasing your collection on the WAX blockchain.
WAX is a carbon-neutral blockchain that runs on a Proof of Stake (POS) system. Supercomputers dont have to wage an energy-sucking battle to complete a single transaction. Wax is a lean, green NFT minting machine.
Total supply- 3,770,303,327
12. Stepn GMT
GMT (Green Metaverse Token) is a token on the Solana blockchain that governs STEPN, a lifestyle app with Social-Fi and Game-Fi elements powered by NFTs. Stepn initially launched on the Binance Launchpad and quickly gained traction owing to its move to earn economics; STEPN nudges millions to embrace a healthier lifestyle.
Players are equipped with NFT Sneakers in three categories: jog, walk, or run, earning GST tokens, which can be used to level up and mint new Sneakers. Sneaker categories represent different fitness levels, a runner 8 -10 km/h, a walker sneaker for 1 -6 km/ h, a trainer for 1 -20 km/h, and a jogger is 4 -10km/h. GPS tracking is used to monitor the player’s movements, and they can choose to sell or lease their NFT Sneakers on the in-app Marketplace; users’ GMT token earnings are stored in the in-app Wallet. A shoebox NFT contains a sneaker of random quality, class, and type.
The Stepn team earns from deducting a small tax GMT from in-app activities, such as NFT trading, Shoe-rental, and Shoe-minting. Individual users own all assets in the STEPN app, and users make the majority of their earnings in the app. A share of earnings is used to buy Carbon Removal Credits on the blockchain to combat climate change.
Total supply- 6,000,000,000
30% of total GMT is distributed to users through a move and earn and Governance participation.
13. My Neighbor Alice
ALICE token is the native currency in the game that allows its holders to play, invest, and be part of the virtual world. My Neighbor Alice is a simple multiplayer NFT game that lets players buy land in the game and build a farming business. A virtual NFT avatar represents each player, and in-game NFTs can be added to your farm to increase its value as you make new connections and friends.
Successful game titles like Animal Crossing inspire My Neighbor Alice. The game combines the best of both worlds – an ecosystem for players who want to collect and trade NFTs and a fun narrative for regular players who want to enjoy the gameplay experience, even if they have no idea what an NFT is.
It’s a game that makes blockchain features easy to understand and enjoyable for players unfamiliar with NFTs; multiple players can connect with their neighbors, earn rewards and participate in fun daily activities. To become a part of the Alice world, one needs to purchase virtual land and engage in activities like gathering insects, farming, fishing, and beekeeping.
The Alice NFT market is available on Binance and in-game and covers everything from animals and houses to vegetables and decorations. Alice token is required to trade the digital assets.
Total supply- 100,000,000
The Initial token distribution of Alice is as follows:
Private Sale- 21.00%
Team and Advisor- 15.00%
Community and Marketing- 15.00%
Play to Earn- 8.00%
Public Sale- 0.80%
In summary, this guide has explained everything there is to know about popular NFT coins in the market. We’ve discussed how NFT coins differ from NFTs (Non-fungible Tokens) and how they unite to empower decentralized applications.
Investing in popular NFT coins such as Sand, Deentraland Mana, or AXS on Opensea is an excellent option to diversify your speculative assets in crypto. In terms of the most NFT coin, Mana and Sand quickly make the top of the list. Decentraland stands out for its unique gaming dynamics and vibrant metaverse economy.
As discussed in the article, a significant benefit of NFT coins is that you earn cryptocurrencies simply by being competitive in their ecosystems. The NFT market also offers lots of speculating and leveraging opportunities to earn money.