Non-fungible tokens (NFTs)-enabling protocols have become popular choices for crypto investors given the boom in the nascent sub-sector. With digital collectibles like CryptoPunks and Bored Ape Yacht Club (BAYC) selling for millions, NFT protocols have seen several interests. This article explores some of the best NFT investments you can add to your portfolio right now.
1· Axie Infinity (AXS)
A play-to-earn blockchain-based gaming platform, Axie Infinity has become a popular choice for several investors. The platform’s token Axie Infinity Shards (AXS) has surged more than 5,000% following a remarkable growth in users’ engagement and a fortunate rally in NFT interests this past year. Each in-game character (called Axie) is an NFT with unique strengths and attributes. Some of the rarest and most unique Axies get sold on the Axie Marketplace for large chunks of digital cash.
Vietnamese game maker @SkyMavisHQ, which developed the blockchain-based game @AxieInfinity, has raised a $152 million Series B funding round led by the prominent Silicon Valley venture capital firm Andreessen Horowitz. pic.twitter.com/KInaSrZkXm
— Forbes Asia (@ForbesAsia) October 6, 2021
Given this, top crypto investment firm Andreessen Horowitz recently led a Series B investment round for the Vietnam-based game maker. This saw Axie Infinity raise $152 million propelling the protocol’s valuation to $3 billion.
The Vietnamese government has also taken cognizance of the gaming platform and is set to levy taxes on the players. However, the framework to be used is still unknown.
The Philippines is looking to tax players of the blockchain game Axie Infinity, but it’s unclear how. “How will our government pinpoint who owns an Axie team? If a miracle happened and they did, how will they know if that person is earning from it?” https://t.co/geXM0XDQCP
— Rest of World (@restofworld) October 6, 2021
Meanwhile, this news has not impacted AXS price too much as the ERC-20 token is still trading above the $100 mark. At press time, AXS is trading at $124.69, down by 8.54%. Weekly gains of 69.25% show that AXS is one of the best NFT investments to buy for the long term.
2. Theta (THETA)
Video streaming platform Theta blockchain is another best NFT investment to buy now. The Theta blockchain enables users to share bandwidth and computing resources on a peer-to-peer (P2P) basis thereby improving content distribution.
The vision of addressing video streaming challenges has attracted top global tech companies with the likes of Samsung, Google, Sony Europe, Binance, and several others serving as Enterprise validators for the blockchain protocol. Aside from video streaming, the Theta protocol also supports NFT minting on its platform through its Elite nodes. These nodes allow users to mint digital collectibles in minutes and interoperate with other blockchain networks.
Given the ease of access, popular Hollywood actor, Mena Massoud, is launching his NFT collectibles on the Theta blockchain.
He stakes his tokens on GPOOL. He runs his own Elite Edge Node on @Theta_Network. He’s in the THICK of it.
Introducing exclusive NFTs from Hollywood actor @MenaMassoud and star of @disneyaladdin @reprisalonhulu.
Coming Soon. pic.twitter.com/CZpumTfW4G
— ThetaDrop (@ThetaDrop) September 30, 2021
Alongside this, the Theta blockchain is creating a new API service that will enable users interact with Web3.0 video from any app. Price-wise, THETA has shown resilience as the broader crypto market slows down its gains. THETA is currently trading for $6.242, down 0.41% in the last 24 hours. Its weekly gains of 25.93% reflect its stellar performance since October began.
3· Tezos (XTZ)
Popular ‘Ethereum killer’ Tezos blockchain is another best NFT investments worth a second look. The Tezos blockchain enables the creation of blockchain-based applications useful in providing decentralised finance (DeFi) services and NFT minting. Sporting a conventional delegated proof-of-stake (dPoS) consensus algorithm, the Tezos blockchain is considered more environmentally sustainable, faster, and more cost-efficient than its rival, the Ethereum blockchain.Given this, several protocols have been integrating with the Tezos blockchain.
A recent partnership is a collaboration between the Tezos blockchain and the Arab Bank Switzerland to enable staking, trading, and custody services for the bank’s corporate clientele. Also, the blockchain recently awarded its first small grants program recipient TezTools in a bid to boost adoption of the Tezos protocol. Adding to its growing adoption, Tezos is seen as a much cleaner and cheaper blockchain to the Ethereum network. This has attracted content creators and artists.
🔥 Hot out of the Oven: ‘The Baking Sheet’ issue #67
This week in the #Tezos Ecosystem highlights Tezos Foundation’s bi-annual report, @TezTools, @EmergentsTCG launching its website, and 5.8 million contract calls for September!https://t.co/mrDlIuAwJu
— Tezos Commons (@TezosCommons) October 1, 2021
In its recent weekly Baking Sheet newsletter, Tezos announced that EmergentsTCG and TezTools will be launching their websites on the blockchain. The protocol also recorded over 5.8 million smart contract calls for the past month.
Coming off the back of a 24-hour surge to $8.9, Tezos’ XTZ token is down 6.82% at the time of writing and trades at $7.6. However, its weekly gains pegged at 29.22% shows a growing interest in the protocol.
4· Decentraland (MANA)
Decentraland is a foremost blockchain protocol focused on the virtual reality space. Building out a booming MetaVerse and attracting corporate giants like Coca Cola, Decentraland is one of the best NFT investments to buy given its growing adoption. Decentraland enables users to purchase virtual plots of land that they can explore, build on and later monetise for a huge profit. Aside from virtual lands, users can play interactive games and enjoy unique experiences powered by 3D scenes. Decentraland sports two separate functional tokens on its platform; the first being an ERC-20 token called MANA and the second an ERC-721 token called LAND. The protocol’s growing influence has since attracted the attention of large scale digital investment firm Grayscale, who created a Trust for the NFT coin in March 2021.
The MANA token has shed some of its value in the last 24 hours and currently sits in the bearish position. It is down 1.88% and currently trades at $0.7497. However, weekly gains of 12.11% show that MANA is a digital token with a lot of growth potential.
5· Enjin (EJN)
Enjin Coin is another fledgling NFT project. A product of the Enjin protocol, it enables an ecosystem of interconnected, blockchain-gaming products. This allows players to create websites and clans, chat, and host virtual item stores.
The Enjin Network allows users to tokenize in-game items on the Ethereum blockchain.
Next week JumpNet will be integrated to The Six Dragons, minimizing fees for BC crafting 🛠️
Take a look into how you can craft weapons, armor, jewels and more by visiting the Crafting station in each village!
Play now: https://t.co/jL3sjFjF7D#gaming #blockchain #NFTs pic.twitter.com/wtVSyauxJz
— The Six Dragons (@thesixdragons) October 5, 2021
This protocol’s popularity has led to recent integrations with The Six Dragons BC Crafting platform. The ENJ token has rallied 0.69% in the last 24 hours and trades at $1.61. Seven-day gains are pegged at 27.24% making it one of the best NFT investments to buy for long-term profit.