Best NFT Crypto Coins 2022 in the Crypto Market

What are NFT Crypto Coins?

An NFT coin is the native cryptocurrency of an NFT ecosystem. These coins are primarily used as legal tender (medium of exchange) in an NFT ecosystem, they are used for economic activities like trading NFTs, trading other digital assets, and performing voting/staking duties in the NFT Decentralized Autonomous Organization (DAO). The utilities of an NFT crypto coin depend on the NFT project and community. These NFT crypto coins can also be traded in decentralized and centralized exchanges outside the NFT ecosystem. 

You might be new to NFTs, what is an NFT? An NFT (Non-Fungible Token) is a cryptographic digital asset that is valuable, such as art, music, video, game, real estate, etc.

The NFT market is experiencing massive adoption in various fields, attracting many investors to invest in NFT projects. This enormous adoption is expected to continue in late 2022, with a lot of big NFT projects under development and existing projects increasing in value and proving to be worthwhile investments. NFTs have evolved significantly, and there are now NFT coins unique to NFT communities. 

In this article, we will look at several NFT coins that have potential and an uptrend is imminent if the cryptocurrency market goes on a bull run, which is expected.

Top 5 NFT Coins in the Crypto Market

1. Decentraland (MANA)

Decentraland is a virtual world built on the Ethereum blockchain where you can play, explore, and interact with games and activities. Decentraland is the first Metaverse built on the Ethereum Blockchain. Decentraland was developed for entertainment with an economy that has worth both in the virtual world and the real world. In Decentraland, users can purchase plots of land to create environments, marketplaces, and applications.

MANA is the native NFT coin of Decentraland. MANA NFT coins are used to purchase non-fungible parcels of decentralized land in the metaverse, as well as wearables, avatars, characters, skin, and other assets in the Decentraland marketplace.

Decentraland's NFT coin (MANA) is designed to be valuable and tradable in cryptocurrency exchanges outside the Decentraland ecosystem. MANA NFT coin is built on Ethereum in conformance with the ERC20 token standards, it is tradable and can be purchased and sold in cryptocurrency exchanges for fiat currency or other cryptocurrencies. 

MANA Statistics (October 2022)

2. The SandBox (SAND)

The Sandbox is a blockchain-based Play-to-Earn digital game in which players can buy virtual parcels of land in a virtual world and build gaming interactions on top of them to collaborate and interact with other players. This virtual world is referred to as a Metaverse.

SAND is the native NFT coin of Sandbox, SAND is used to purchase Sandbox gaming items such as land and assets in the Sandbox virtual world. Sandbox NFT coins can also be used as stakes in DAO governance. SAND can be traded on exchanges for other tokens and fiat currency outside the Sandbox virtual world. SAND is the utility NFT coin that is the foundation for all transactions and interactions in The Sandbox ecosystem. It is an ERC-20 utility token that was created on the Ethereum blockchain. SAND is tradable in cryptocurrency exchanges outside the sandbox ecosystem.

SAND Statistics (October 2022)

3. Axie Infinity (AXS)

Axie Infinity is a blockchain-based game inspired by Pokemon, but with rare characters, a unique theme, and unique gaming assets to enhance the experience. The Ethereum blockchain serves as the foundation for Axie Infinity. Players produce digital offspring and nurture them, these digital offspring are known as Axies. Players compete for Axies with other players. Every Axie has a unique genetic attribute, which means that the traits of the Axies are transferred to the offspring they nurture.

These Axies can be traded on Ethereum NFT marketplaces, with prices varying based on scarcity and unique features. AXS is the native NFT crypto coin for the game. AXS is used to purchase in-game assets and is used in Axie Infinity DAO. AXS NFT crypto coins are tradable outside the ecosystem, AXS can be traded at cryptocurrency exchanges like CoinEx. 

AXS Statistics (October 2022)

4. FLOW

Flow is a blockchain platform that was initially developed for gaming purposes but has since evolved. The blockchain supports smart contracts and enables fast and low-cost transactions. The Flow blockchain can potentially handle the transactions of millions of active users and was built to support games and consumer applications. The blockchain supports decentralized gaming applications, collectibles, and other applications. NFT projects like NBA Top Shot pack and CryptoKitties were built on the blockchain.

Flow also has its native NFT crypto coin, which goes by the symbol FLOW. The supply of the Flow NFT cryptocurrency (FLOW) is not hard-capped, the inflation rate (increase in FLOW supply) is currently capped at 3.75%. That is the yearly rate at which additional tokens are created as rewards, increasing the available supply. Flow NFT crypto coins are tradable outside the ecosystem, FLOW can be traded at cryptocurrency exchanges like CoinEx, Binance, and Bybit. 

FLOW Statistics (October 2022)

5. THETA 

Theta Network is a blockchain with a focus on media and entertainment. Theta infrastructure rewards end users for sharing their storage and/or bandwidth on any PC, mobile, Smart TV, or IoT device while enabling existing video and media platforms to drive supplemental revenues and lower content delivery CDN costs. Theta Network is NOT a decentralized version of Twitch or YouTube. Theta is actually the decentralized storage infrastructure and underlying blockchain that supports and sustains the next generation of Web3 media entertainment platforms.

The Theta NFT crypto coin (THETA) is the governance token of the Theta protocol. THETA is used to stake as a Validator or Guardian node, contributing to block production and the protocol governance of the Network. Theta Network NFT crypto coin (THETA) is tradable outside the ecosystem, THETA can be traded at cryptocurrency exchanges like CoinEx, Binance, and Bitmart. 

THETA Statistics (October 2022)

Other NFT Crypto Coins with Prospects (October 2022)

6. Enjin coin (ENJ)

7. WAX (WAXP)

8. Chiliz (CHZ)

9. Tezos (XTZ)

10. DigiByte (DGB)

Summary

NFT crypto coins are the legal tender in NFT ecosystems, which are mainly used as a currency to buy and sell NFTs. Most Metaverse NFT projects make use of their native NFT crypto coin as a legal tender in their digital world. NFT crypto coins also have monetary value outside these digital worlds and can be traded for fiat and other cryptocurrencies on Exchanges. It is important to research NFT crypto coins as you might never know you are sitting on a cryptocurrency that will boost your portfolio. It is also important to know that trading and investing in cryptocurrencies are risky and may not be suitable for all investors.

Before you decide to trade cryptocurrency, think about your investment goals, level of experience, and risk tolerance. Because there is a chance that you will lose some or all of your initial investment, you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with cryptocurrency trading and seek advice from an independent financial advisor if you have any questions. This article is not investment advice.