Web3 Community is growing bigger each day. And also, it is reaching new heights by breaking conventional boundaries. NFTs have evolved from their basic forms to many different types. In this article we will discuss about different types of NFTs.
Music, Photography, Collectibles and Artworks are the basic forms of NFTs. However, New types of NFTs emerged recently. So let us look into the types of NFTs, and also look into some of the new kinds as well.
What are the Different Types of NFTs?
Programmatically Generated NFTs
NFTs with Physical Benefits
These are some of the Types of NFTs. Let’s understand more about them individually.
Digital Artworks are a fusion of Technology and Arts. Mainly, artworks are present in the form of GIF, Video and Original Pictures of an Arts. This type of NFTs are one of the Classic types of NFTs.
Digital Arts include 3D models, Graphic design, Concept Arts, Abstract Painting and more. These artworks can further be distinguished as follows.
Multiple copy Artworks
1/1 NFT art is a unique, one-of-a-kind digital collectible. Only a single owner can own this. Furthermore, this kind of artwork is rare and valuable.
Multiple copy artworks are the NFTs which have more than 1 copy. More than one owner can own these NFTs. Additionally, their rarity reduces as the number of copies increases.
Since ancient times, people have had the idea of collecting rare things and artifacts. NFTs are no exception. You can either sell them or keep them as collectibles. These Collectibles NFTs may be Sports card or your favorite Characters such as Pokemon.
There are many Marketplaces which solely focus on Collectibles and trading cards. Exactly like the real world, these Collectibles also have different rarity levels. Value of the NFT varies based on the rarity level of the Collectible.
Photography NFTs are also one of the initial types of NFTs. And also, many people collected them world wide. Photographers around the world sell their unique photographs through a marketplace. These photographs can be of any sort. For example; Portraits, Nature, Animals, Space and others.
Prior to the NFT Revolution, Little to no credit was given to the original photographers for the images they either shot or owned. NFTs guaranteed Authenticity and transparency of photographs. Because of this key feature, Photographers around the world are selling their art without a fear.
Music in the form of NFTs is becoming popular day by day. At this time, hundred types of music styles are available as NFTs and these numbers keep on growing everyday.
Nonetheless, artists have found unique ways to showcase their musical skills. Artists like Abhishek Bhaskar, introduced Beatboxing in the visual form. Leveling up the standards of Music NFTs.
Several Music composers have sold their music rights through NFTs. NFT community is hoping for more Artists to join the NFT movement.
Programmatically Generated NFTs:
These arts are generated using software. Usually, this method is used to generate the Avatars.
Avatars cover a huge part of NFT arts. These avatars will be in big volume. However, each one of them will be unique from one another.
Typically, basic features such as eyes, hair, background and other similar characteristics are randomized using a software or programmed to generate Avatars. The rarity of characteristics present on the avatars determine the rarity of NFTs.
This type of NFTs are most popular. Similar to collectibles, they also have different values based on their rarity. “Moon Birds” is an example of such NFTs. Moon Birds has a very huge community.
Over the past few years, in-game NFTs have emerged as one of Web3’s most popular goods. Game developers have taken a keen interest in Web3 and created many games based on NFTs.
These games are popularly known as “Crypto Games”. Ownership of in-game items like skins, weapons, digital accessories, characters, and virtual lands are available as NFTs. Additionally, players can trade these items.
Besides that, “play-to-earn” games enable players to accumulate NFTs and sell their digital in-game goods for actual money. Furthermore, millions of people play crypto games on a daily basis.
Toy NFTs are the result of recent trends in the Web3 world. Because, in this type of NFTs you will get a physical Toy with the NFT. Usually, the toys will be exactly the same as in the NFTs.
Earlier this month, Pudgy Penguins have released their Toy lineup “Pudgy Toys” with the association of popular Toy manufacturer PMI Toys. Similarly, numerous artists are releasing their Toy NFTs.
In the near future, some of the biggest NFT brands will also release their Toy NFTs.
NFTs with Physical Benefits:
Recent developments in the NFT world lead towards closing gaps between Real world and Web3. “Tiffany”, a well known jeweler artisans released their own NFT “NFTiff”.
Tiffany NFT or NFTiffoffered to print CryptoPunk NFT on the pendant of the jewelry product for 30 ETH. They sent a diamond and gold curated ornament to the respective buyer. This product was sold only to the selected CryptoPunk NFT owners.
One more such physical benefit NFT was Satoshi Master of Disguise, Comic NFTs. This NFT offered a unique comic book to their collectors physically. Additionally, the collectors are allowed to monetize their comics or sell their copies.
Furthermore, many services and fashion products are sold through NFTs. These NFTs are sold as passes to redeem the respective physical item. Similarly, many event tickets and educational courses are also sold as NFTs.
Other Types of NFTs:
Some of the other types of NFTs include:
Celebrity based NFTs.
Significant Sports moment NFTs.
Domain name NFTs.
Final Thoughts on Types of NFTs:
NFTs are conquering new territory everyday. These new territories require their own form of NFTs. Additionally, it is exciting to know that the NFTs are marching towards real world implications also. Therefore, the future of NFTs might have many more kinds of NFTs and push the boundaries further.