__What does the FTX collapse mean for NFTs?__

In this article, we will break down how the collapse of the major cryptocurrency exchange FTX affects the NFT industry and ecosystem.

## Abstract

FTX, once one of the largest cryptocurrency exchanges, collapsed in early November due to excessive leverage and mismanagement of user funds. The FTX collapse was far from isolated, bringing with it sister-companies and subsidiaries, Alameda Research, FTX.US, and countless others.

The ripple effects of this crash have been severe, and many funds and investors soon experienced crises of their own as they lost funds, wrote off investments, and saw users exit the market.

The impact of FTX’s demise on the cryptocurrency industry is clearly significant, but you may be asking yourself: __what does this mean for NFTs?__

We’ve identified a few key takeaways to keep in mind whether you are an NFT issuer or collector.

### 1. Own your keys, own your coins

![A-FTXD-perfect key image](//images.ctfassets.net/v06qbfn5fzrz/7hIxPqwA6qoKMwBorFYrtv/e4ebe9b8bf68d28f943c7c90481b8b32/A-FTXD-perfect_key_image.jpeg)

Blockchain technology enables people to self-custody any token, including an NFT. This means that they have a public/private key pair that controls their tokens. 

Keys are managed through wallet software which you can learn more about [here](https://www.nft.com/articles/what-is-a-crypto-wallet). 

During the fall of FTX, users that didn’t control their keys and instead trusted the exchange to hold their tokens, soon found themselves unable to withdraw their funds. In many cases tokens were lent out to third parties and subsequently lost. These users have limited recourse to withdraw their tokens.

Anyone collecting NFTs should ensure they self-custody their NFTs for the same reason. [NFT.com](https://www.nft.com/) is a fully self-custody solution so you never need to give up control of your NFTs. 

### 2. Brands must be builders

![A-FTXD-brands builders](//images.ctfassets.net/v06qbfn5fzrz/6AS73srTdKZJwJ4ugKhJFN/ecc3e0bd73aa7837645e21d1fec8d5bd/A-FTXD-brands_builders.jpeg)

Crypto companies have featured a lot of well known celebrities including Tom Brady and Matt Damon to promote their products. Some of these celebrities are [now named in lawsuits](https://variety.com/2022/digital/news/ftx-lawsuit-larry-david-tom-brady-stephen-curry-crypto-1235434627/) related to the FTX collapse. 

Despite this, new creators and consumer brands are continuing to enter the NFT Space. Nike, Reddit, Sony, and more have announced new products leveraging NFTs for digital collectibles. 

New users should trust those brands which are integrating NFTs and digital collectibles into their strategies and products as opposed to merely contributing to hype. 

### 3. NFT trading decline

![A-FTXD-down arrow](//images.ctfassets.net/v06qbfn5fzrz/7mPn3CdVaMaPA6LC4HJIdn/25cb5c2a649af18e652112fc3cd14c61/A-FTXD-down_arrow.jpeg)

NFT trading volumes [have decreased](https://nftgo.io/analytics/market-overview) following the implosion of FTX. Many users had their token portfolios negatively impacted which has reduced the number of speculators in the market.

However, many organic NFT communities are still experiencing strong trading. Ecosystems that were less affected are still seeing significant trading volume like the Zuse Market on Hedera. 

Many NFT collections are targeted to unique communities outside of financial speculation. This will help NFTs and the cryptocurrency as a whole to rebound. 

### 4. Community, community, community

![A-FTXD-social connections](//images.ctfassets.net/v06qbfn5fzrz/4pGcXi8wWZaxtunWWJNgVT/6bfaba5f756aa58f0a02ecbea9aea061/A-FTXD-social_connections.jpeg)

Community engagement will define what makes NFT collections successful now more than ever.

NFTs allow individuals to participate in shared digital communities. NFTs provide access, artwork, and reputation within these communities.

Many NFT communities have rallied around one another in light of market turbulence. Users have helped each other to address security issues, share news, and more.

Projects like LinksDAO have continued to support their communities with new NFTs like their recent [Links Champion](https://champions.linksdao.io/) drop.

### 5. Remember what makes crypto great

![A-FTXD-coins](//images.ctfassets.net/v06qbfn5fzrz/qnPzIupb8VznEPPmkbkgM/a6cd43ff819bdd5b4a2c003383f0a878/A-FTXD-coins.jpeg)

This latest crisis represents the value of decentralization in all parts of our digital lives. Blockchain and NFTs allow individuals to own their assets, their identities, and ultimately their communities.

## Conclusion:

Our mission at NFT.com continues to build the homebase for digital collectibles where users can buy and sell NFTs wherever they live in a profile that they own. 

We invite you to [join the NFT.com community today](https://discord.gg/nftdotcom), and be a part of shaping the future of the NFT space.

New to NFTs? [Click here for more helpful guides and articles!](https://www.nft.com/articles)

Find out how the collapse of the major cryptocurrency exchange FTX affects the NFT industry and ecosystem.

What does the FTX collapse mean for NFTs? - Explained - NFT.com

__We get it. NFTs are a confusing part of an already confusing new sector of the financial market.__

But don’t worry, we’re NFT.com, we’ve got you covered.

# What is an NFT?
Cryptocurrency tokens like Bitcoin (BTC) are fungible, meaning 1 bitcoin is equal to any other bitcoin. Each bitcoin is indistinguishable from any other bitcoin. 

A non-fungible token (NFT) is a cryptographic asset — a unique digital token stored on a blockchain that is distinguishable from any other token. 

This property of uniqueness has inspired an industry around different use cases of NFTs ranging from art to intellectual property and more. 

## Fungible Tokens and Non-Fungible Tokens
*Fungible* assets are interchangeable with one another. A dollar can be traded for a dollar. A share of a company can be traded for another share. A bitcoin for a bitcoin. Fungible coins are indistinguishable from one another.

So what does it mean for something to be *Non-Fungible*? Non-fungible assets are unique. They are distinguishable from an asset even of a similar type. You can think of this like trading a piece of hand drawn art, for another piece of hand drawn art. They are both art - maybe even the same drawing, however they are completely different physical objects and unique pieces of art. 

It is this ability to establish a completely unique digital “thing” that has brought so much value to creators and the web3 space over the past few years. 

Today, NFTs most commonly take the form of digital art, collectibles, or access passes. All information related to that NFT is recorded on a blockchain where you can view the history of ownership, metadata information, as well as what the NFT represents. These items can be bought and sold using cryptocurrency or cash.

NFTs can be valued by the unique traits of the asset. Art NFTs can be evaluated by the traits of the design. Membership NFTs can be evaluated by the benefits of the membership. Each NFT can be valued as a class, as well as the unique traits of the NFT within that class.

Art NFTs can be photographed, copied or screenshot much like art you may see in a museum. However, these copies are not valued the same as the original piece. 

NFTs, issued on a public ledger, are verifiable both in their uniqueness (non-fungibility) as well as their provenance. This means that a unique piece of art maintains its value independently to copies. A poster of the Mona Lisa is worth nothing compared to the original hanging in the Louvre.

## NFTs Explained
With an understanding of fungibility, we can dive deeper into how NFTs work. 

NFTs are digital tokens created on a blockchain with reference data tied to the traits of the NFT. For example, an NFT representing art would have the image and traits of the art described in the [metadata of the token](https://medium.com/coinmonks/how-to-find-your-nfts-metadata-c2d058626fb8 "How to find your NFT's metadata"). This creates an auditable log of the tokens creation, metadata, ownership and transaction history over time. 

The majority of NFTs today exist on the Ethereum blockchain. Standards like the [ERC-721 tokenization standard](https://ethereum.org/en/developers/docs/standards/tokens/erc-721/) make it easier for others in the web3 space to create apps and tools that work with them. 

NFTs can be created either through written code that interacts directly with the Ethereum blockchain or through a user interface that follows the basic template set forth by the token standard. 

NFTs also have the ability to link to off-chain data. This is often done in cases where the files correlated to the NFT are too large and would be too expensive to host on the Ethereum blockchain — which incurs high fees for data consumption and storage. Therefore, the data may be hosted by a centralized hosting service. The metadata within the NFT then points to that external location. 

The use cases for NFTs are vast, even allowing for the digital representation of physical items, removing the need for intermediaries and streamlining the process of transferring ownership. Expect to see business applications of NFT technology expand as adoption grows.

## Examples of NFTs
NFT projects have exploded in recent years with creatives and companies from multiple different sectors trying to get a piece of this [multi-billion](https://www.fintechnews.org/report-nft-market-valuation-to-rise-to-over-13b/) dollar market. 

In 2017, Larva Labs created the NFT collection CryptoPunks, becoming one of the first tokenized collections built on the Ethereum blockchain. This collection of 10,000 8-bit, cyberpunk-inspired NFTs has gone from experiment to icon, with some CryptoPunks selling for millions of dollars each. 

The CryptoPunks collection is known as one of the first “pfp” or Profile Picture collections. The metadata for each CryptoPunk specifies different visual traits, making each one completely unique. 

Another major player in the early NFT market, Cryptokitties, was launched in 2017 by DapperLabs. Each kitty is a unique NFT that can be bought, sold, or bred with other Cryptokitties to make more unique Cryptokitties with varying levels of rarity and value. 

Each Cryptokitties metadata defines their “genes” which generates their appearance and can be passed on to their offspring. Cryptokitties were the first NFTs minted via the ERC-721 tokenization standard.

The Bored Ape Yacht Club (BAYC) launched in 2021 and quickly permeated the mainstream thanks to high-profile adopters like Jimmy Fallon and Stephen Curry as well as companies like Adidas. In December of that same year, BAYC overtook CryptoPunks as the highest-priced NFTs with an average selling price of 84 eth. 

While the BAYC initially launched as “pfp” art collection, it has since become a utility NFT granting access to exclusive online and real world opportunities.

## Utility NFTs
Utility NFTs are often classified as any NFT with a use case beyond visual aesthetics. Most commonly, utility NFTs provide owners with access to certain privileges or rewards that are only gained and accessed through ownership of the utility NFT. This could be a theater ticket, a gym membership, a commemorative token from attending an event, or even a digital subscription box.

Utility NFTs are created in much the same way as art NFTs, with the major differentiator being that they grant access to something. Using our previous example, Bored Ape Yacht Club NFTs became utility NFTs when they started to allow owners of BAYC NFTs access to the “Yacht Club” — an exclusive social club with benefits like access to secret in-person events, NFT collectibles, and a virtual wallet. They further increased this utility by dropping Bored Ape owners "Ape Coin" - a fungible token now traded on popular exchanges.

Utility NFTs have spilled over into other sectors as well. In 2021, American rock band Kings of Leon became the first band to ever release an album as an NFT with the help of YellowHeart Crypto. Their eighth studio album, *When You See Yourself*, was released as both a physical item and three different NFTs, each with varying levels of utility including digital downloads of the album and front row tickets for every subsequent tour. 

NFT.com’s Genesis Keys can are also considered utility NFTs as they grant owners the ability to mint Profile NFTs, as well as access to beta features, and an exclusive private community.

Utility NFTs currently represent one of the most promising sectors of the web3 market. 

## Why are NFTs valuable?
NFTs often derive their value from being the ability to prove origination and ownership. The limited supply of any given asset creates a higher demand. However, the demand relies on several other factors.

As mentioned earlier, some NFT collections have high name recognition. NFTs in these collections tend to be of much higher value. To use art as an example, a painting created by a famous artist will often be worth much more than one bought from a new unknown artist.

The value of an art NFT also depends on the *future* value of the piece. Following the art analogy, say you saw a young Michelangelo selling a painting on the side of the road. The price would likely be very low, but after he goes on to paint the Sistine Chapel, the value of one of his original paintings would skyrocket. 

The same applies to art in the NFT space - as after all, it’s still art! And as we can see, those who bought Bored Apes when they first came out, did so at a low undiscovered price and now own a highly-valued work of digital art.

The *utility* of a given NFT also contributes to its value. This is where art NFTs most noticeably differ from traditional art. Owning a Picasso does not get you anything but a Picasso and the reputation of owning a Picasso. Owning an NFT however, may get you access to additional benefits depending on the project. As such, [an NFT with utility](https://www.nft.com/articles/emerging-use-cases-for-nfts "Why is everyone creating NFTs in 2022? - NFT.com") may have a higher value than those without.

Lastly, and perhaps most importantly, the real value of an NFT lies in the eyes of the beholder. Like art or music or films, people buy things that they enjoy owning. This is the *perceived* value of art. To you, a piece might be invaluable based on its aesthetic alone, and ultimately that may dictate your buying decision.

## Where to buy NFTs
NFTs can be bought and sold on platforms like OpenSea, Rarible, Nifty Gateway, and more. To buy an NFT, you will likely need to have some form of cryptocurrency — though some fiat options exist. 

Purchasing cryptocurrency can be done by opening an account with a cryptocurrency exchange. Once you do, you will want to buy the currency native to the NFT you’re purchasing. Currently, the majority of NFTs are still based on the Ethereum blockchain, and can be purchased with Ether.

Once you have purchased your cryptocurrency, you will then need to transfer your it to a crypto wallet. These digital wallets are a place where you can safeguard your digital assets, like NFTs or tokens. MetaMask is the most common crypto wallet for those looking to buy and sell NFTs on the Ethereum blockchain. 

To use MetaMask, navigate to their website and install it on your browser. Be careful with your MetaMask recovery phrase. *If that falls into the wrong hands, you could lose your assets permanently!*

Once you have Ethereum in your MetaMask wallet, you can connect your wallet to an exchange and draw from it to buy and sell NFTs. Once owned, the NFT will be stored in your wallet and can be displayed with a NFT gallery.

## Displaying your NFTs
Once you have a NFT, you can view it on Etherscan, Opensea, or in your MetaMask wallet. But if you’re looking for a more stylized and artistic way to display your NFTs, you can get a Profile right here on NFT.com

[NFT.com](https://www.nft.com) is the best place to display NFTs with highly customizable and personalized Profile galleries which form the foundation for a decentralized web3 social network. NFT.com Profiles are themselves NFTs, meaning they are tied to a unique ERC-721 token, enabling you to access and build your NFT gallery on a Profile you truly own.  NFT.com is currently in beta and only available to [Genesis Key NFT](https://docs.nft.com/genesis-keys/what-is-a-nft.com-genesis-key-nft) holders.

## Conclusion
You should now have a basic understanding of NTFs and their varied utilities and value. There is a lot more to learn about NFTs, as well as their [possible use-cases](https://www.nft.com/articles/emerging-use-cases-for-nfts), but that is exactly what makes web3 so fascinating!

To learn more about all things NFTs, check out [NFT.com/Articles](https://www.nft.com/articles). 

Want to learn more about NFTs? Look no further!

What Is An NFT? - Non-Fungible Tokens Explained - NFT.com

__The first step to every web3 journey starts with a crypto wallet.__

This article will explain what a crypto wallet is, how to select the right crypto wallet for you, how they work, and how to keep your digital assets safe.

# What is a crypto wallet?
A crypto wallet is software used to manage a user’s cryptographic keys which control one or more on-chain addresses. Crypto wallets can be used to send and receive any token such as an NFT or a cryptocurrency to and from any on-chain address.

Wallets provide an easy way for a user to interact with web3 applications. Users can simply navigate to web3 applications and connect their wallets, which in turn allows them to interact with the application and execute trades with the currency in their wallet. This can all be accomplished with the wallet alone, without entering a username and password.

Popular crypto wallets on Ethereum include [Metamask](https://metamask.io/), [Coinbase Wallet](https://www.coinbase.com/wallet), and [Rainbow](https://rainbow.me/).

![Ethereum Wallet Banner Image](//images.ctfassets.net/v06qbfn5fzrz/4pBGFwRmFhIL4AG3GsBnR9/018384c66229fb278bf4b5ae9a3c7c7a/logos_combined_transparent.png)

# Selecting the right crypto wallet for me.
Crypto wallets come in a few different forms. These can include software like desktop and mobile applications, browser extensions, mobile wallets and even physical hardware wallets. 

These wallets are commonly referred to as: “self-custody” wallets, and are a core component of web3 by allowing users to manage their own assets. 

![A-WIACW-3wallets](//images.ctfassets.net/v06qbfn5fzrz/1K620lL3tfOgzd3SRqVnWk/4c3abfb91e18bab576be9c3634c95fee/3_wallets.png)

# Software vs. Hardware

### Software:

A software wallet refers to any computer application, mobile application, or browser extension that can be used to manage a user’s cryptographic keys. Most browser wallets provide an option for a user to create a password once a wallet is set up. This makes accessing and the wallet easier than requiring the input of a Private Key for each use.

Browser extension wallets like MetaMask are a great way to interact with web3 enabled websites. Mobile software wallets are equally useful for accessing your digital assets on the go. 

![Sign in page metamask for NFT.com](//images.ctfassets.net/v06qbfn5fzrz/3Vl5JJkeI0YQXMicJLCJgG/b13db56e6c339db86a47b5cbf2bc6438/Screen_Shot_2022-10-26_at_12.21.13_PM.png)

### Hardware:

A hardware wallet is a physical device that stores a user's private keys. Hardware wallets provide an increased level of security by requiring the physical device to be present to execute an on-chain action. 

Reputable hardware wallet brands such as [Ledger](https://www.ledger.com/) and [Trezor](https://trezor.io/) are a great option for those looking to further safeguard their digital assets. Many of these hardware wallets can be used in tandem with browser extension Wallets like MetaMask to maximize security and convenience.

![Trezor-Ledger-Image](//images.ctfassets.net/v06qbfn5fzrz/4TlpkTCQoNXbXYr609XZrI/4e6afeb7b3fa7f184bdf0ecfb7dd78d4/trezor-ledger-image.png)

# Understanding your crypto wallet:
Two (2) cryptographic keys are created when setting up a new crypto wallet. 

  - A public key is the “on-chain address” that you use to send and receive digital assets. 

  - A private key is the secret password to access the digital assets within your wallet. Many wallets provide a 12-24 word sequence upon creating your wallet called a “seed phrase”. The seed phrase can be used to gain access to your wallet in place of the private key. 

__Please Note:__
Anyone who has your private key or seed phrase has complete access to execute actions such as sending digital assets out of your wallet. __The importance of keeping your seed phrase secret can not be overstated!__

# Protecting your wallet

The decentralized nature of web3 means that you are solely responsible for the safekeeping of your digital assets. It is critical to be mindful of the following points when using your wallet.

  - Your seed phrase is extremely important to the security of your wallet. Make sure to keep it stored somewhere safe (preferably on paper somewhere you can keep hidden and away from the elements)

      - It is strongly recommended that you physically write down your private key on two or more pieces of paper and store them somewhere safe and dry. 

      - Using a steel private key storage device like the BillFodl from Ledger can provide increased safety comfort compared to paper in the event of a fire. 

![A-WIACW-bilfodl](//images.ctfassets.net/v06qbfn5fzrz/1IN9J4kAthTtcIjKXi643U/00d28e4c496acef96be65a86618f6e35/A-WIACW-bilfodl.jpeg)

- Use a password that you have not used before when setting a password for your software wallet. Make it memorable, but not too easy for people to guess. We recommend creating a password that contains at least 12-15 digits and has a combination of upper and lower case letters, symbols, and numbers.

- Do not interact with tokens or NFTs that you do not recognize. Airdrop scams have become extremely common in the NFT ecosystem. If you see something in your wallet that you did not buy or came from someone you don’t know, it’s best just to leave it alone and don’t transfer it or burn it. Interacting with a malicious airdropped NFT can result in the loss of ALL digital assets within that wallet!

- Be careful where you connect your wallet! Do not connect your wallet to sites you do not trust completely, and be sure to carefully read any prompts your wallet displays before signing or executing a transaction.

# What can I do with a crypto wallet?

Your crypto wallet allows you to interact with web3 enabled sites and applications that support the wallet and blockchain you are using. 

There are a number of web3 applications that you can explore through helpful resources like [DappRadar](https://dappradar.com/); a helpful database of popular decentralized applications otherwise known as “dApp’s”.

Your crypto wallet is also where you will store digital assets like NFTs. NFTs can represent art, access passes, memberships, and more. [We go into more detail about NFTs in our other article here.](https://www.nft.com/articles/what-is-an-nft) 

There are a number of NFT marketplaces where you can purchase NFTs. However, you can utilize platforms like NFT.com that aggregate NFT listings from multiple marketplaces to get the widest selection of NFTs for the lowest available prices.

NFT.com provides a familiar cart experience for NFT shopping. You can select and purchase several NFTs at once, mitigating the pesky “per-sale” gas fees that one typically can expect when transacting on the Ethereum network.

![A-WIACW-gif of noah-s page](//images.ctfassets.net/v06qbfn5fzrz/54j3kdTPjkOZLRLgAi9TaB/4808d9edc290cde2948a37bf44fd2c12/A-WIACW-gif_of_noah-s_page.gif)

Lastly, you can take your web3 experience to the next level with a NFT Profile. Your NFT Profile acts as your web3 home base, and comes with a customizable NFT gallery where you can display your favorite NFTs with a personal touch. 

Each Profile has its own unique address like [NFT.com/alec](https://www.nft.com/alec) or [NFT.com/jordan](https://www.nft.com/jordan), making it easy to display and trade your NFTs.

Currently, you can only mint a Profile with a NFT.com Genesis Key NFT. A new Genesis Key unlocks the ability to mint (4) four free NFT Profiles. What you choose to mint and create is up to you!

*Note: NFT.com is currently in private Beta for Genesis Key holders only.*

Follow the development of NFT.com on [Twitter](https://twitter.com/nftcomofficial) and join us in our [Discord](https://nft.com/discord) as we continue to build and roll out new features!

# Final thoughts:

Crypto wallets are essential to interacting in web3, and in many ways reflect one's online persona through the digital assets they collect and hold. 

The web3 space offers exciting new experiences, and we hope you will join in on the fun!

To learn more about all things NFTs, check out [NFT.com/Articles](https://www.nft.com/articles). 

What is a crypto wallet? - Explained - NFT.com

__Thousands of NFT collections have unique communities ranging from meme-fueled chaotic chat rooms to organized forums for education and professional networking.__

This article will walk you through what these communities are all about, and how to find the right community for you.

# The importance of community in NFTs?

__Community is a core part of the NFT space.__

Fans and holders of an NFT collection are a driving force of a project’s culture, popularity, awareness, and success.

Successful NFT projects understand that a thriving and active community enables continued growth and interest as a project develops. 

NFT creators can return value to their members by crafting moderated community forums to promote culture, networking, and high level discussions. There can be great value in access to a group of like-minded individuals who are enthusiastic about the industry and the projects they support. 

Web3 is proving that the relationship between company and community can be a symbiotic one, providing significant value for each other when nurtured.

## Different types of NFT communities & their goals

Many communities start simply as a home for collectors and enthusiasts of a given collection, however some communities have a specific focus or purpose.

### Social
Profile picture NFTs (PFPs) and similarly large collections of 1,000+ NFTs often focus on the social interaction in their community. They may have additional goals, but generally the networking and interconnectedness of community members is top of mind for these projects. 

![Social Image Reference](//images.ctfassets.net/v06qbfn5fzrz/3RUxdSknVCzoj0XqTNMm5V/12d50672ddf6f6684d5f55cdb45190c3/community_image_final.png)

### Art
Some NFT communities are focused specifically around creating and collecting art. These communities often congregate around a curator or a curated collection. [Generative Art](https://nftevening.com/what-is-generative-art-nft/) is a popular and fascinating area of focus for many NFT art communities. Generative art is artwork created procedurally by code, rather than each piece being created by an individual, and has proven to be a popular method for creating larger NFT collections. 

![Art Image Reference](//images.ctfassets.net/v06qbfn5fzrz/5CqKM2eoXn4Hm6owV7Fsoi/790f5a7165af62b3713a54dd2af753c0/art_image_final.png)

### Gaming
As long as there have been games, there have been gaming communities. This holds true in the web3 gaming space as well. There are new web3 enabled games coming out all the time, and they tend to have a Discord server you can join to meet other players. These communities focus on fun and user feedback to improve the game. 

![Gaming Image Reference](//images.ctfassets.net/v06qbfn5fzrz/2SXTYyMmji1tdr3c8H3myb/d18b9ad279289d49a97b927972c94c48/gaming_image_final.png)

### Projects (DAO, Opensource, etc)
Some initiatives within the NFT space have a directed and focused goal. These projects may start with just a few people, but are carried to greater heights by the collective effort of their community. 

DAO’s or “Decentralized Autonomous Organizations” are token-gated communities where token holders participate in governance. Members can submit a proposal for the organization to take actions, and holders vote on if they should execute the proposal.

OpenSource communities are loosely organized groups of people who contribute to a single specific project (usually development or code related.) Membership to these communities are not gated, and anyone can collaborate and contribute to them. These communities are often centered around things like [open-sourced marketplaces](https://medium.com/vivid-labs/introducing-vivid-open-open-source-nft-marketplace-14aca6f0f4a8) for NFTs or web3 [open-source software](https://tableland.xyz/).

![Project Image Reference](//images.ctfassets.net/v06qbfn5fzrz/3QqXh4h2z1drUNNbP04qZE/c3d5e3c1bb055bf0008318a70d532bdb/laptop_image_final.png)

Some communities even participate in collective marketing efforts or experimentation in a particular area of focus. These communities can help to provide decentralized marketing, real-time suggestions, and critical feedback.

## Examples of NFT communities

There are thousands of NFT communities to explore, each with different requirements to join.

Let’s take a look at a few leading NFT projects and their communities:

### __1. Doodles__
   Doodles is a community-driven collectibles project featuring colorful artwork by Burnt Toast. Each Doodle allows its owner to vote for experiences and activations paid for by the Doodles Community Treasury.

![A-FTRNCFY-doodles](//images.ctfassets.net/v06qbfn5fzrz/3nPAEorxOyLLUZb0j9hyb9/12d936432e0e132bc2796802ded3ff8b/A-FTRNCFY-doodles.png)

### __2. Moonbirds__
Moonbirds are a 10,000 piece utility-enabled, PFP (profile picture) collection of owls with an exclusive holders-only Discord community. Holders have the ability to stake their NFTs and receive rewards. The Moonbirds community is home to a number of web3 industry people, and provides excellent networking.

![A-FTRNCFY-moonbirds](//images.ctfassets.net/v06qbfn5fzrz/1u5ZzldIqjbM3H3Ol4EjmE/6b5afe58b5b8d66709432f03741c7da6/A-FTRNCFY-moonbirds.png)

### __3. NFT.com__
NFT.com is a community driven NFT platform with a token gated section of its Discord community called the “Genesis Key Club” or GKC.

The “Genesis Key Club” is made up of early adopters who hold a Genesis Key NFT. Genesis Key holders receive early access to the NFT.com platform, they’re the first to create NFT.com/you profiles and are directly involved in beta testing and the development process of NFT.com as a platform. 

NFT.com provides organized feedback channels to intake suggestions and feedback to hone the platform more closely to the needs and desires of the GKC. 

![A-FTRNCFY-genesiskeys](//images.ctfassets.net/v06qbfn5fzrz/3ONE72wfp8lm67Tpum3vaF/d252e483b69971b34ebdd8b5775a6fe9/A-FTRNCFY-genesiskeys.gif)

### __4. LinksDAO__
LinksDAO is a golf focused DAO (Decentralized Autonomous Organization.) The DAO is focused on bringing real world benefits to members through partnerships with golf brands, and even purchasing a network of global golf courses! They elevate their communities experience through a focused mission, and a community of like minded golf fans. 

![A-FTRNCFY-linksdao](//images.ctfassets.net/v06qbfn5fzrz/3pVxj3BpWEMCfILJXhQsEM/9376372fc56f7345b3f088acd5bfd0e3/A-FTRNCFY-linksdao.png)

### __5. Tableland__
Tableland is a community centered around their web3 protocol for structured relational data (useful for dynamic NFTs). Their collection is geared towards NFT developers and rewards builders and community members of the Tableland network. 

![A-FTRNCFY-tableland](//images.ctfassets.net/v06qbfn5fzrz/2HbA4fPfHCmDWgvLYNCQcv/6a56d498dcb6414eb0ae3f0d964f8840/A-FTRNCFY-tableland.png)

### __6. NounsDao__
Lastly, NounsDAO is an art based NFT project that automatically generates and auctions off 1 of their NFTs every 24 hours. Each NFT grants access to the DAO itself. 

The majority of the proceeds from the NFTs sold are distributed to a DAO-controlled fund.DAO members can then create and vote on proposals to decide how to use the funds.

![A-FTRNCFY-nounz](//images.ctfassets.net/v06qbfn5fzrz/7BGqHXAfvBsWTOzLlFv42t/2652a4b2db973c333b221abe9a2cc69c/A-FTRNCFY-nounz.png)

## How to join an NFT community

The most common place for NFT communities to congregate in 2021-2022 has proven to be Discord. Discord is a text and voice based community forum platform with a high degree of customization, making it perfect for organized community discussion.

Those venturing into the web3 space should set up a Discord account to take full advantage of the community access many NFTs provide.

![A-FTRNCFY-discord home](//images.ctfassets.net/v06qbfn5fzrz/5Me6tDRIndYbiIoGXZiEsQ/883932ad09e589c3716d90448caedef2/A-FTRNCFY-discord_home.png)

Most NFT projects will have social links on their official website. Look for the Discord logo on official NFT project websites to locate a Discord community invite link.

![A-FTRNCFY-discord logo](//images.ctfassets.net/v06qbfn5fzrz/4R4eedRfeRahSYohS7ZSEr/1aa505a12407ee4c9aac34f0fe3e71aa/A-FTRNCFY-discord_logo.png)

## Find the community that is right for you

Finding the right community for you is a subjective experience. 

The best community is one that excites you! Look for a community that makes you feel like a welcome participant.

Some NFT collections focus on new technology, while others may focus on culture, art, or networking. The goal, mission, and art of an NFT project are great indicators of what their respective community may be like. 

![A-FTRNCFY-discover page](//images.ctfassets.net/v06qbfn5fzrz/2wLK4TpAzCfrRkMIoFdFAP/d35724afacc11f2d91a81579df4e0cdf/A-FTRNCFY-discover_page.png)

## Final thoughts:

It is important to consider what you hope to get out of your membership in an NFT community.

You will ultimately get as much out of a community as you put in. So make sure to join a community that you are excited to participate in.

Want to learn more about NFTs? [Click here to learn how to be early to an NFT drop!](https://www.nft.com/articles/what-does-mint-mean)

How to find the right NFT community. This guide will walk you through what NFT communities are, and how to find the perfect community for you.

Finding the right NFT community for you - A beginners guide - NFT.com

__[NFTs](https://www.nft.com/articles/what-is-an-nft "What Is An NFT? - Non-Fungible Tokens Explained - NFT.com"), or non-fungible tokens, have risen to prominence as digital tokens representing unique collectibles.__ 

# Why is everyone creating NFTs in 2022?

NFTs are defined by their uniqueness relative to other tokens whether of the same collection or a different collection.

# Adoption Beyond Speculation
These tokens were purchased with the hope of a higher resale in the future. This speculative drive has created [a multi-billion dollar market](https://www.nft.com/articles/most-expensive-nft-sales "The 10 most expensive NFT sales - Full Breakdown - NFT.com"), attracting celebrities, athletes and major consumer brands to the industry. 

The initial driver of speculation brought in a wave of interest seeking financial return much like many of the prior bubbles in the crypto space. These periods of speculative interest in L1 and DeFi tokens previously led to a new wave of utility-centric innovation that increased the types of use cases for tokens.

This piece will share some of the new use cases that may drive the next wave of growth in the NFT space. 

## Art
NFTs saw a rapid uptick in adoption by digital artists who wanted an easier way to establish scarcity over their pieces of work. 

Artists are able to connect a piece of art (whether a digital image, video, or other) to the NFT. This NFT can be sold to a collector who wants to support the artist. The NFT creator can also add a fixed royalty payment that ensures they will be compensated any time the art is resold.

NFTs represent an opportunity for artists to enter the digital medium while protecting their role as a creator. 

## PFP
PFP, or profile picture, NFTs are images represented as NFTs that are used as profile pictures on social platforms.

PFPs took off in popularity due to their ability to signal the owner’s participation in a crypto community or their financial worth. People who have NFTs that became valuable or well adopted often use them as PFPs to show that they were early.

Social platforms like Twitter have taken PFPs a step further by requiring users to prove ownership of the NFT they use in their profile. This can reduce fraud in claiming to own a given NFT.

## Membership
NFTs have recently become a means to gating membership into a community. [LinksDAO](https://linksdao.io/ "LinksDAO") issued membership NFTs to participate in their DAO focused on buying a golf course. [NFT.com](https://nft.com/ "NFT.com") issued Genesis Keys to enable access to their early community of beta testers and profile minters.

Membership NFTs confer certain rights to the holder including discounts on products, access to community channels, and more. The NFTs may include an image but are primarily used to represent the unique membership.

Platforms like Discord have supported plugins which allow membership NFT holders to prove their ownership in order to participate in specific Discord channels. [Token gating](https://www.one37pm.com/nft/what-is-token-gating "What is 'Token Gating' and How Does it Work?") can also be used on websites and ecommerce stores to provide additional channels or deals to members.

## Ticketing
Tickets to attend events, concerns, conferences, and more have begun to have an NFT issued to represent the ticket. 

Tickets have increasingly become paperless as more venues move to digital check in and ticket verification. NFTs fit within this user experience by enabling direct access to the event by the holder. 

NFTs can reduce fraud and automate royalties through the smart contracts used to issue the tickets. Ticket NFTs can also serve as long term collectibles for the owner much like paper tickets are kept today.

## Gaming
Gaming assets have also been identified as a natural fit for NFT issuance. Games have shifted to a free to play model where users aren’t required to purchase a game and instead pay for specific features within the game like buying new powers, skins, or currencies.

[Games have begun to issue NFTs](https://www.nft.com/articles/nft-games-you-can-play-now "7 NFT Games we are watching this year - NFT.com") to enable gamers to verifiably own unique in-game assets. They can be purchased within a game if connected to crypto or fiat payment infrastructure. NFTs can then be ported across platforms including other games. 

NFTs will help establish a metaverse of interoperable digital experiences with user property rights at the center.

## Credentials
Lastly, we have started to see the emergence of NFTs used as credentials earned by the holders. These credentials can include certificates of completing a course, attending an event, or verifying their identity.

Credentials can be used to establish the reputation or identity of the holder. They may be required to access events or services similar to membership NFTs. 

Credentials will introduce considerations around how to protect personal information and privacy while opening up a new use case for NFTs. 

## Conclusion
Innovation in crypto has been driven by new, unanticipated, uses of primitives including blockchains, smart contracts, tokens and more. NFTs represent another opportunity for this innovation to continue.

The use cases above represent a small share of the total number of use cases likely to emerge over time. 

NFT.com will serve as a platform for the display, issuance, trading and use of these NFTs across Web3. We expect to see many of these use cases emerge on the platform.


Emerging use cases that may drive a new wave of growth in the NFT space. 

Why is everyone creating NFTs in 2022? - NFT.com

__With much of the NFT space looking to gaming as a major use case, let’s look at the NFT gaming space as it exists today, and check out what’s fun to play!__

# 7 NFT Games we are watching this year

Before we get started, let's address an important question.

## What are NFT games? 

NFT Games utilize [NFTs](https://www.nft.com/articles/what-is-an-nft "What Is An NFT? - Non-Fungible Tokens Explained - NFT.com") to represent in-game items, often as a core mechanic of the gameplay and game economy. There are a number of games [taking advantage of the utility](https://www.nft.com/articles/emerging-use-cases-for-nfts "Why is everyone creating NFTs in 2022? - NFT.com") cryptocurrency has to offer, and as the web3 space matures, so will the games we see. 

For this article we will be mainly focused on games that use NFTs to represent their in game items, and can be played right now. We’ll touch on Metaverse games and digital land ownership in another article. 

## 1. Axie Infinity
![Axie Infinity image](//images.ctfassets.net/v06qbfn5fzrz/71o4AsP1vQ21Ug3iJC0ATI/d0b0a97a3a7ba8e91f0ed4dbd3b80c3d/axie_infinity.jpeg)

A pioneer of the NFT gaming space.
- Free to play: No
- Multiplayer: Yes
- Genre: Strategy Game
- Blockchain: Ethereum (Ronin L2)

Axie Infinity is an original crypto game with a peak of 2.8 million daily active players in 2021. It is a unique online multiplayer game by Vietnamese developer Sky Mavis, centered around axolotl-inspired digital pets called Axies. Taking a page from the “Pokemon" series, in Axie Infinity, players can collect and battle these adorable creatures against one another.

Axie Infinity features a breeding mechanic similar to CryptoKitties (mentioned in our What is an NFT article), in which an Axies “genes” pass down various strengths, weaknesses, and other traits to the offspring. 

However, Axie Infinity stands out as a fully multiplayer competitive online game where players can build teams of Axies, and battle other players for rewards and glory. 

The game’s adorable style, fused with a rich level of complexity and depth made it a hit among those early to the NFT gaming space, and continues to draw interest today. Axie Infinity requires the purchase of Axies in order to play.

[You can check out more about Axie Infinity here.](https://axieinfinity.com/)

## 2. Gods Unchained
![Gods Unchained](//images.ctfassets.net/v06qbfn5fzrz/34ft074H3pLHjkGpsMPGiL/d459e1a19783b59d1d99a2f7b70aa2e8/gods_unchained.png)

One of the top NFT trading card games around.
- Free to play: Yes
- Multiplayer: Yes
- Genre: Trading Card Game
- Blockchain: Ethereum

Gods Unchained will feel like familiar territory for trading card game fans. It is an online, multiplayer turn-based fantasy card game, focused on player vs player battles. 

Gods Unchained is led by Chris Clay, game director for the wildly successful “Magic the Gathering Arena”. The goal of each match is to destroy an opponent's “God” before they are able to destroy yours.

Gods Unchained integrates the rarity and collectable aspect of traditional trading card games by utilizing blockchain technology to turn the cards into NFTs, which can then be traded on the open market. 

This game is also completely free to play, and costs nothing to get started. Gods Unchained is a great start for those looking to get into NFT games, and boasts an active player base with over 100,000 discord members.

[Learn more about Gods Unchained here.](https://godsunchained.com/)

## 3. Blankos
![BBP PLAY](//images.ctfassets.net/v06qbfn5fzrz/1d8YE0CfNgbjEwGZ31DWsY/2d31f0b7cdb94159a14b840525017aef/BBP_PLAY.jpeg)

Most fun party style NFT game. 
- Free to play: Yes
- Multiplayer: Yes
- Genre: Party Game
- Blockchain: Private EOSIO

Blankos is a well executed party game that’s so fun you won’t even notice you are playing an NFT game. Blankos takes the fun of traditional 3d platformers like Super Mario 64, and fuses it with the multiplayer shenanigans of Fall Guys. 

It is self described as an “open-world multiplayer game styled like a giant block party”. Blankos delivers hours of silly creative fun thanks to custom level building and expansive multiplayer game worlds.

In Blankos, you play as a vinyl toy character, and can join massive worlds with all of your friends. Blankos is a free to play game, but you can purchase new Blankos character NFTs, or earn new ones through your in-game winnings. 

The characters in Blankos are NFTs that you own, but they exist on a private blockchain and are transacted with FIAT currency. This isn’t really a downside, but it should be noted that you won’t get the same crypto interoperability of some other NFT games.

Blankos is a great game for those who enjoy 3d platformers and want to play with friends. [Click here to learn more.](https://blankos.com/)

## 4. War Riders
![war riders](//images.ctfassets.net/v06qbfn5fzrz/5zXGgmnA9TdhM2ycfFnGkX/c345dc8d884614ccc5db08ee67179f75/war_riders.jpeg)

Most unique gameplay style for an NFT game.
- Free to play: Yes
- Multiplayer: Yes
- Genre: Raid Style - Offroad Battle Game
- Blockchain: Ethereum

Fans of multiplayer FPS (first person shooter) games, may have noticed a trend towards “raid” style gameplay. In “raid” style games, players venture out into a world with other players to find resources, and have to fight their way through players and enemies to escape from the “raid” with those resources. 

War Riders takes this unique gameplay style, and infuses it into a “Mad Max” inspired game world where players drive and battle in war torn off road vehicles with the hopes of finding “Benzene deposits” (BZN) to “mine”. 

Players then have to fight off other players to extract from the barren desert with their cryptocurrency loot!

War Riders is a great Free to Play game for those looking for a unique, hardcore, adrenaline-pumping experience. [You can learn more and get started playing War Riders here.](https://warriders.com/)

## 5. Forge Arena
![Forge Arena](//images.ctfassets.net/v06qbfn5fzrz/3ZsFF7oi6ks8zfYkiCiPYf/e366b0acc1940b2f6621cf7d5423a183/forge_arena_gamers.jpeg)

Best first person shooter NFT game.
- Free to Play: No, but moving to f2p model
- Multiplayer: Yes
- Genre: First-Person Shooter
- Blockchain: WAX

Are you a champion of Battle Royale? A human aim-bot with the frostiest flicks in the metaverse? The teammate who clutches a 1v5 when the whole team is down?

Well look no further than Forge Arena. This is an intense counter-strike style shooter for those with surgical aim, lightning reflexes, and a competitive mindset. Forge Arena rivals the polish and gameplay of some triple-A game studios. 

Forge Arena’s docs page states that it is “Aimed to be the world's first Esport on the Blockchain”, and lives up to the claim with intense first person shooter gameplay and a competitive player base.

Forge Arena utilizes the power of NFTs to track ownership of in-game items like weapons, skins, and item crates. All of which can be bought on Forge Arena’s marketplace, or earned through playing the game.

We would recommend Forge Arena as a captivating start for those with previous experience playing competitive First-Person Shooter games. [Click here to learn more.](https://playforge.gg/)

## 6. Splinterlands
![Splinterlands](//images.ctfassets.net/v06qbfn5fzrz/1yV7EEniWvaw6Pn4jf7ViQ/dbf39996514c7c40fa29c14bf1b1b039/Image_7-21-22_at_1.52_PM.jpg)

Rapidly growing, up and coming NFT trading card game. 
- Free to Play: Yes
- Multiplayer: Yes
- Genre: Trading Card Game
- Blockchain: Hive Blockchain

Splinterlands is another blockchain based Trading Card game that is picking up steam. It has a rapidly growing player base of over 1 million players, and is rapidly gaining the attention of online Trading Card game fans. 

Players start out with a complimentary set of cards making the game fully free to play, with the option to purchase additional cards via the Splinterlands marketplace. Each card is an NFT with a limited supply, and players can buy rare cards to improve their decks, or sell cards in exchange for cryptocurrency. 

We would put Splinterlands on par with Gods Unchained as a solid option for those looking for blockchain based Trading Card games. [Check out Splinterlands in more detail here.](https://splinterlands.com/)

## 7. Spider Tanks
![Spider Tanks](//images.ctfassets.net/v06qbfn5fzrz/5iGh0183yDtidZhyVMjoY8/562939c1eed821108fcdab59b9e7e0c8/spider_tanks.png)

A unique multiplayer battle arena game for all player types. 
Free to Play: Yes
Multiplayer: Yes
Genre: Battle Arena
Blockchain: Gala Games

Lastly, we have Spider Tanks. This is a massively overlooked free to play game featuring an extraordinarily fun, top-down, battle arena style experience. Players pilot a multi-legged robotic tank and battle other players in tight arenas for resources and rewards. 

Spider Tanks has a little something or everyone, walking a fine balance between a casual and competitive gaming experience. 

It is free to play, so new players can dive right in and get to blasting other players in the arena. Competitive players can rest easy knowing they can take their skills to an e-sports level with official championships to compete in. 

Spider Tanks harnesses the power of NFTs for all of their in-game items such as tanks, skins, weapons, and even arena maps that you can design yourself!

We have to recommend Spider Tanks as a fun start in the NFT gaming space regardless of skill level or play style. It’s just plain fun! [Click here to learn more about Spider Tanks.](https://www.spidertanks.game/)

## Conclusion
NFT games will only become more popular and more polished as game developers integrate the power of blockchain technology into their development process. We’ll keep you posted as the gaming and crypto industries continue to collide.

[Check out our other articles here to learn more about NFTs.](https://www.nft.com/articles)

Discover new exciting NFT games that you can play right now.

7 NFT Games we are watching this year - NFT.com

__The NFT wave of 2021 saw digital art selling for eye-watering numbers.__

Let's take a look at some of these record breaking sales. 

# The 10 Most Expensive NFT Sales

Last week, on July 12th, in what many are calling a ‘Crypto Winter,’ CryptoPunk #4464 sold for 2,500 ETH or roughly $2.6 Million USD. CryptoPunks, a 10,000 NFT collection launched in June of 2017, are among the oldest and rarest NFT collections. This monster NFT sale got us thinking: 

What are the most expensive [NFT](https://www.nft.com/articles/what-is-an-nft "What Is An NFT? - Non-Fungible Tokens Explained - NFT.com") sales of all time?

## 1. “Everydays: the First 5,000 Days” - $69.3 Million
[Beeple - EVERYDAYS: THE FIRST 5000 DAYS](//images.ctfassets.net/v06qbfn5fzrz/2DEI6orngJ7ivsLYGhhk9n/2d6b07ab75c8d0ce2ef44192ba8d8250/1_everydays.jpeg)

Beeple’s most expensive piece to date was sold at auction by Christie’s in March of 2021 for $69.3 Million. 

This piece is a collage of the first 5,000 pieces in Beeple’s ‘Everydays’ series, a series in which he created a digital piece of art everyday from May 1st, 2007 - January 7th, 2021. This sale gave Beeple an eye-popping payout and put the term NFT into headlines everywhere.

## 2. “Clock” - $52.7 million
![Image of "Clock" by Pak](//images.ctfassets.net/v06qbfn5fzrz/3lTBSlx0gcJobwIYBj579K/8bd6eac453b8289ac51e4c1751bd040f/2_assange_clock.png)

A dynamic NFT created by artist Pak, “Clock” displays the number of days WikiLeaks founder Julian Assange sits in a prison cell. The piece was sold to a DAO (Decentralized Autonomous Organization) called AssangeDAO which was formed to raise money for Assange’s legal defense. 

They ultimately raised and paid 16,593 ETH for the piece. Pak then donated the ETH to aid in Assange’s legal defense. Of the top 10, this is the only NFT sold to a DAO. 

## 3. “HUMAN ONE” - $28.9 million
![Image of “HUMAN ONE" by Beeple](//images.ctfassets.net/v06qbfn5fzrz/1znkIgkVjCfDo5j6QtJ1dW/b677097b282440c0386cc636b16c67ea/3_human_one.png)

Beeple’s piece “HUMAN ONE” is the story of the first human born in the Metaverse. The piece is both a physical sculpture and a NFT. 

The physical sculpture is over 7 feet tall, constantly moving, and features four screens displaying a dynamic 16K video that changes depending on the time of day. 

The piece went to auction in November of 2021 and sold for $28.9 million or 4,700 ETH. Beeple continues to update and modify the piece remotely. 

## 4. “CryptoPunk #5822” - $23.7 million
![Image of CryptoPunk #5822](//images.ctfassets.net/v06qbfn5fzrz/336ozgBYaU0dPrRFiYEohx/ab744f66e9ed0be0150707406c82a921/4_cryptopunk5822.png)

One of only nine CryptoPunks with the ‘Alien’ trait, CryptoPunk 5822 sold for a jaw-dropping 8000 ETH in February of 2022. By USD value, this is the highest CryptoPunk sale by more than double.

## 5. “CryptoPunk #7523” - $11.7 million
![Image of CryptoPunk #7523](//images.ctfassets.net/v06qbfn5fzrz/6Hijhq0mVHeJsLBpcPUOjC/dd036b47bf6bd0f7c828a2607537e3b5/5_punk_7523.png)

Another of the nine rare CryptoPunk ‘Aliens,’ Punk #7523 also has a mask - which made it all too timely when it went to auction with Sothebys in June of 2021. The NFT was sold for 4,700 ETH - a record at the time. 

## 6. “CryptoPunk #4156” - $10.26 million
![Image of CryptoPunk 4156](//images.ctfassets.net/v06qbfn5fzrz/4IcKU11Hp3W6g6FKJtLsRw/873829991567f9eed9f8b7b333cff6ba/6_punk_4156.png)

One of only 24 ‘Ape’ CryptoPunks, Punk #4156 was sold for 2,500 ETH in December of 2021. At the time, the ETH amount was valued at $10.26 million USD. 

The sale was also notable in that Twitter User and Influencer @Punk4156 had built a following under his PFP’s name. After frustration with CryptoPunks' Copyright policy, he sold the NFT that had launched his brand - and changed his profile picture.

Punk #4156 was later resold for 2,691 ETH on July 15, 2022 - then valued at around $3.3 million USD. 

## 7. “CryptoPunk #5577” - $7.7 million
![Image of CryptoPunk #5577](//images.ctfassets.net/v06qbfn5fzrz/2qaTI8rTq96SIhP8d9yy4o/de19446102506f0240b8b87a6943109c/7_punk_5577.png)

Another rare ‘Ape’ CryptoPunk, Punk #5577 was sold for 2,501 ETH in February of 2022, then valued at around $7.7 million USD.

## 8. TIE: “CryptoPunk #3100” & “CryptoPunk #7804” - $7.56 million
![Image of CryptoPunk #3100](//images.ctfassets.net/v06qbfn5fzrz/6rlDcFNhGxtgpsrFymx67j/f9c2b7b7d84dc9dceafc66d6e5871b43/8.1_punk_3100.png)

![Image of CryptoPunk #7804](//images.ctfassets.net/v06qbfn5fzrz/1sfy2WUhuyBcwdEr4jE3bZ/7b1616420f00931da56fe11f12e3ed89/8.2_punk_7804.png)

March 11, 2021 was a good day to own a CryptoPunk. Both Punk #3100 & Punk #7804 have the ultra rare ‘Alien’ trait and both went for 4,200 ETH on the very same day. 

## 9. “Ringers #109” - $7.12 Million
![Image of "Ringers #109" by Dmitri Cherniak](//images.ctfassets.net/v06qbfn5fzrz/6SDktInBi1FtEa48srYKOB/2aba482283683636fc82a495540c895f/9_ringers_109.png)

The most expensive sale of the curated Art Blocks project, Ringers #109 is part of a 1,000 piece collection by artist Dmitri Cherniak. Cherniak was playing with the idea of wrapping a string around a set of pegs. 

Each piece in the collection features a variation in peg count, string size, color, and more. Ringers #109 was sold for 2,100 ETH in October of 2021.

## 10. “Right-click and Save As Guy” - $7 million
![Gif of “Right-click and Save As Guy” by XCOPY](//images.ctfassets.net/v06qbfn5fzrz/1GmGOEyWA7POq94d44tNPp/e2daa64123743d090ac73027ab5b7619/10_rightclicksave_as.gif)

XCOPY’s most famous work, “Right-click and Save As Guy”, references the oft used gibe about NFTs - that one can just ‘right-click and save as’ instead of spending exorbitant amounts of money on it. 

XCOPY’s work is a favorite among NFT collectors and this animated 1-of-1 was sold to one of the most well-known NFT collectors: Cozomo De’ Medici.

## Conclusion
The NFT industry continues to [increase in adoption and utility](https://www.nft.com/articles/emerging-use-cases-for-nfts "Why is everyone creating NFTs in 2022? - NFT.com") every day. As this ecosystems continues to expand, there may be many more chart-topping NFT sales in the future!

Want to learn more about NFTs? Check out more at [NFT.com/Articles](https://www.nft.com/articles).

2021 proved the sky is the limit for digital art sales. Find out why...


The 10 most expensive NFT sales - Full Breakdown - NFT.com

__[NFTs](https://www.nft.com/articles/what-is-an-nft "What Is An NFT? - Non-Fungible Tokens Explained - NFT.com") exist in a large variety of [familiar mediums](https://www.nft.com/articles/emerging-use-cases-for-nfts "Why is everyone creating NFTs in 2022? - NFT.com") like gifs, video, music, or images.__ 

We will explore how NFTs are created to represent this content through a “mint”.

# How to be early to an NFT drop

For starters - let’s explore the genesis of the term __"mint"__.

## What is “minting”? 

Minting was first used to define the stamping of metal in order to create a coin. It was the process of converting a common metal into a standardized currency.

The term has since broadened to be used in defining the creation of something new and unique. New inventions, technology, or even certifications may now be referred to as ‘newly minted’.

Minting was adopted by the cryptocurrency community to define the creation of a new token. [Tokens could be fungible or non-fungible](https://cointelegraph.com/nonfungible-tokens-for-beginners/fungible-vs-nonfungible-tokens-what-is-the-difference "Fungible vs nonfungible tokens: What is the difference?") as well as have a fixed or variable supply. 

Minting refers specifically to the creation of the token with association to a piece of art, music, video, utility, or other data. It does not refer specifically to the creation of the data. Minting is better compared to the idea of ‘publishing’ something like a book or record. 

This idea carries over to the world of cryptocurrency where the content of an NFT is created before the NFT is minted.

## What is a “mint”?

A “mint” in an NFT collection refers to the creation of NFTs in that collection. The mint can be initiated by the creator or a third party who wants an NFT from a collection. It can refer to both the act of creating the NFT or the event at which the NFTs are created.

Minting an NFT [requires a fee](https://www.coindesk.com/learn/what-are-ethereum-gas-fees/ "What Are Ethereum Gas Fees?") to trigger an event on the blockchain. It can also require a fee to pay the NFT creator for their work. Other creators choose to enable the mint for free to enable access.

## How do you mint an NFT?

The process of minting an NFT will depend on if you are minting an NFT from a project's “mint” event, or if you are creating and issuing an original NFT yourself. 

### Participating in a mint:
Each NFT Project runs their mint process differently.

Most NFT projects will have a website that you can connect to with a cryptocurrency wallet. 

The project website will likely walk you through the process of minting the NFT by signing a transaction with your cryptocurrency wallet. This will result in the NFT being minted to your address.

The art or asset for the NFT you are minting is often already created. The mint brings the NFT into existence on the blockchain. This can help reduce the cost of the mint. 

Some NFT “mints” are free, and others cost money. It is very important to [be careful where you connect your web3 wallet](https://metagamehub.medium.com/metamask-security-a-complete-guide-on-how-to-protect-your-wallet-from-hackers-655c88d16f7 "MetaMask Security: A Complete Guide On How To Protect Your Wallet From Hackers"), and what transactions and signatures you sign when connecting your wallet to a website. 

## Conclusion
NFTs are still a nascent technology with significant growth and innovation on the horizon. The web3 space will continue to evolve, making it easier to purchase and mint NFTs in the future. 

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[Check out our other articles here to learn more about NFTs.](https://www.nft.com/articles)

Learn how content like video, music, and images become NFTs through a mint.

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