Native assets of non-fungible tokens (NFTs) and gaming-based blockchains, such as Flow (FLOW), Decentraland (MANA), and Enjin (ENJ), have started the week on a high note.
At the time of writing, the price of FLOW surged by over 18% over the past 24 hours, reaching around $26.58, according to crypto metrics platform CoinGecko.
Developed by CryptoKitties creator Dapper Labs, Flow is a proof-of-stake (PoS) blockchain specifically designed for NFT collectibles and various large-scale crypto games.
When CryptoKitties, one of the very first non-fungible token (NFT) projects, brought the Ethereum blockchain to a halt in late 2017 due to immense congestion, developer Dapper Labs learned firsthand that current-gen blockchains weren’t built to handle such demand.
With NFTs—provably-unique tokens that can be linked to digital content—becoming increasingly popular, something needed to be done.
Rather than simply find another home for its decentralized app (dapp) or wait for Ethereum scaling solu...
NFTs are a type of cryptographically unique tokens that can be minted as one-of-a-kind or in limited quantities.
Since NFTs are non-interchangeable and cannot be replicated or counterfeited, they became popular among collectors, with some selling for tens of millions of dollars.
Non-fungible tokens, or NFTs, are changing the way we think about art—and investors are starting to take notice.
In the last year, NFTs have shot to the forefront of the crypto space. The cryptographically-unique tokens make it possible to create real-world scarcity for digital objects, and artists have seized on the opportunity presented by the technology.
The NFT market exploded in 2021, generating some $25 billion worth of trading volume, and the momentum hasn’t slowed so far this year. This...
The most popular NFT project based on Flow is NBA Top Shot, a series of collectible trading cards where each one represents a “moment” from basketball history. The platform quickly took the NFT sector by storm soon after its launch this year.
Earlier today, NBA Top Shot announced the biggest ever sale on its platform after a legendary-tier Lebron James NFT was sold for $230,000.
“Every Moment comes from a specific Series, set & tier. This Crown Moment came from our Series 1 2020 #NBAFinals set and Legendary tier,” the platform tweeted.
Going a level deeper ...
🔢 the serial number of the Moment, 🏆 the Championship Year Badge on it, ✅ and even the purchase price all came with extra meaning.
Meanwhile, other tokens from NFT and gaming-oriented projects are enjoying healthy gains today as well.
The price of MANA, the native token of Ethereum-based virtual world Decentraland, broke above $1 today, increasing by around 6%. Similarly, ENJ, associated with gaming blockchain Enjin, grew by more than 7%—to about $2.20.
Disclaimer
The views and opinions expressed by the author are for informational purposes only and do not constitute financial, investment, or other advice.
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