5 Best NFT Crypto Coins/Tokens to Buy in 2023 (Not Financial Advice)

What is NFT?

The term "non-fungible tokens," which are digital representations of physical assets, is abbreviated as "NFT." NFTs are driven by what is known as "smart contracts," which are lines of code that can execute themselves.

NFTs are one-of-a-kind blockchain tokens; each one possesses characteristics that set it apart from the others. Because of its singularity, blockchain technology makes it possible to verify digital ownership straightforwardly.

Even though the craze for NFTs didn't take off until 2021, digital assets have been trading on the Ethereum network for quite some time. The first of the NFT collections to gain recognition is called CryptoPunks, and it is a limited edition consisting of 10,000 algorithmically generated monkeys.

Although NFT tokens have maintained their value in a market that is dominated by behemoths such as Bitcoin and Ethereum, the rapidly expanding sub-sector still has a long way to go before it can be considered widely adopted.

On the other hand, if you want to make the most profit possible from your investments in NFT tokens, the following is a list of some of the best tokens to invest in.

1. Merge ($91.8 mil)

On December 2, 2021, a consortium of close to 30,000 collectors purchased an artwork titled "The Merge" created by an artist named Pak. These collectors scrounged up an investment totaling $91.8 million. It is the only one of the best-selling items that are more likely to be bought by a group than an individual.

2. Everyday: The First 5000 Days ($69.3 mil)

Mike Winklemann, better known by his stage name "Beeple," is the creative mind behind the album "Every day - The First 5000 Days." This JPG file is a representation of a collage of images that the artist has created one day at a time since 2007. The artist is frequently credited with being the one who initiated the trend of NFTs. The "Everyday" non-fungible token (NFT) was acquired by a cryptocurrency investor based in Singapore on March 11, 2021, at Christie's auction house. The investor paid for the artwork with ether (ETH-USD). The buyer did not receive any physical goods in addition to the digital artifact that they purchased. The purchase catapulted Winklemann, a graphic designer based in Florida, into global recognition and elevated him to the status of one of the most successful living artists in terms of sales worldwide.

3. SAND – The Sandbox (Best for Voxel ASSETS and Gaming)

The Sandbox is a virtual Metaverse that was built on the Ethereum blockchain. It gives users the ability to create their own game experiences, control those experiences, and even monetize those experiences.

The Sandbox gaming platform is comprised of three different technologies that are linked to one another and collaborate to provide a unified environment for the creation of user-generated content (UGC). Users will have additional benefits accrue to them as a result of the interconnected technologies, specifically the ability to ensure ownership of the copyright for their work by utilizing smart contracts on the blockchain.

4. XTZ – Tezos (Best for Future Proof Scalability)

Tezos is an open-source project that is supported by a global community of auditors and researchers. It is designed to overcome significant barriers that have been preventing the widespread adoption of blockchain technology for digital goods and services. Tezos is built with open participation, cooperation, secure smart contracts, and the ability to be upgraded in the long term as primary considerations.

It provides a more robust platform for the development of decentralized applications.

5. ApeCoin

ApeCoin is an additional governance and utility token built on the Ethereum blockchain and based on the ERC-20 standard. It is used throughout the APE Ecosystem, including the Bored Ape Yacht Club, to enable and encourage the development of decentralized communities in Web3. The previous week saw a 30% increase, propelling it to the top spot.

ApeCoin holders can govern themselves through the decentralized governance framework that controls the ApeCoin DAO, and they also can vote on how the ApeCoin DAO Ecosystem Fund should be utilized. The APE Foundation is in charge of administering proposals that holders of ApeCoin have agreed on.

Although the coin does not currently serve any practical purpose outside of the ApeCoin DAO membership, the roadmap indicates that this may change in the near or distant future.

Its price reached its all-time high of $17.75 in March, not long after it was first released; however, since that time, it has gradually decreased to its current price of $20.36, which is a 7% increase on the day.

Written by Jay Kumar Gupta