If your looking for the top 5 best NFT tokens to invest in 2023 you’ve landed in the right place. Non-fungible tokens (NFTs) have gained popularity more than ever. They seem to be breaking their record sales over and over again in 2023 and this has attracted the attention of investors and enthusiasts alike.
Unlike Bitcoin, NFTs (digital arts, music, sports, and basically anything) cannot be directly exchanged for one another and with the increased prevalence of digital collectibles in the crypto markets, these tokens have become even more scarce. If you are an investor looking to buy some of these tokens, here are the top 5 best NFT tokens.
1. Theta
Theta is a decentralised p2p video-streaming blockchain platform that has transformed how people stream videos on the internet. The community-governance network and open-source protocol, launched in 2019, is backed by the tokens – THETA and TFUEL. Theta boasts of offering a better video delivery ranging from esports and music to movies and education.
With better streams, content creators can earn good returns while the users get rewarded for viewing the videos with TFUEL. The network also recently launched an upgrade, “mainnet v 3.0” to support the decentralised storage of NFTs, which is likely to attract further interest.
Pros
- Both viewers and content creators get rewarded on videos
- Improved video quality
- Saves money on building infrastructure
- Increase ads and subscription revenues.
Cons
- Increased requirements to run nodes such as the Guardian
- The network needs a very strong internet connection
2. Decentraland
Decentraland (MANA) is a virtual reality platform that allows anybody to create and monetize anything on the platform. For instance, you could buy a plot of land on MANA and sell it later to anyone interested. MANA, based on the Ethereum blockchain, also enables ads, interactive games, and much more. MANA was launched in 2020.
Pros
- Has a virtual real estate and business appeal
- Ranks third among NFTs in market valuation, only behind Chiliz and Enjin coin
- Has the confidence of large digital asset management firms
- MANA still enjoys De-Fi boom
Cons
- Still in the early stages of development
- The concept of NFTs is not highly understood
3. Enjin
Our next best nft token to invest in is Enjin. Enjin Coin (ENJ) was launched in 2017 as a purpose-driven blockchain for NFTs. It is somewhat a mix of gaming development software and virtual stock exchange. In less than a year after its launch, the platform announced the premier gaming multiverse. Now, more than 40 game developers using the platform to create games.
Enjin has achieved exponential growth having grown into an established system of integrated digital products that can be used to trade and monetize games on the Ethereum blockchain. You can get an in-game item and own it as a tangible asset. The platform transforms virtual gaming products into tradeable digital assets, which means you can turn virtually anything in your inventory into an asset and sell. Assets as well as their histories are stored on the blockchain.
Pros
- An inexpensive coin ideal for beginners
- Brings about a new way of playing games
- A potential way for players to monetise their gaming
- Provides instant liquidity
- Provides utility in games and applications
Cons
- Tokens have no real-world value as they are virtual.
- The software has not been able to create high-quality games as it is not very advanced
4. Chiliz
Chiliz is a crypto protocol that has integrated blockchain into sports at Socios.com. In fact, it is the first blockchain-based fan interaction and rewards network worldwide and the platform aims to bridge the gap between active and passive fans.
The Malta-based blockchain has made it possible for fans of various sports to be there for their teams as they can influence, participate, and cast their votes in the various club surveys and polls. The token holders also get special rewards and experiences such as social interaction, gamification, and leaderboard features.
Since being founded in 2018, Chiliz has remained a promising NFT, as it has secured exclusive partnerships with some of the biggest football teams across the various leagues in Europe. It is also a partner to the Ultimate Fighting Championship (UFC) and esports arena.
Pros
- Its low price makes it a great entry-level coin
- Fan tokens can be traded on their native exchange
- Users get voting rights on their favourite team’s decisions
- There is not much competition currently
- The token has high liquidity and trades on the biggest exchanges worldwide
Cons
- Only a few teams have signed up
- CHZ token has no other practical use outside the Socios.com platform
5. Cryptokitties
Cryptokitties was launched in 2017 by developer Dapper Labs and it is fondly remembered as the protocol that propelled NFTs to the mainstream. It was also the first to employ the ERC-721 standard, consequently making allowance for unique digital assets.
The game is all about players raising and reselling virtual cats in order to make profits on the Ethereum network. The CryptoKitties are non-fungible tokens with each one representing another digital cat. According to Non.fungible.com, over Cryptokitties were sold, resold, and bought over 2.8 million times, leading to more than $40 million in the first week of August 2021.
Pros
- You can play Cryptokitties freely on Flow
- Top-notch 3D visuals and animation to the game
- Shown excellent results in charity auctions
- Potential store of value
Cons
- Scaling difficulties
- Network congestion and long wait times.
Where to Buy Crypto? – Binance US
Binance US is a useful platform for both rookie and expert traders and investors. You can trade over 50 cryptocurrency assets. The platform is user-friendly and contains useful trading and educational tools. Since its introduction in 2019, it has maintained low fees and even given discounts with its native currency, BNB use.
Binance US has a minimum trade limit of $10 and offers options for recurring investments. Overall, it is an excellent integrated trading platform and digital wallet for major cryptocurrencies. Binance US supports Ethereum, which is mostly used to trade NFTs.
Benefits to Using Binance US
Binance US is particularly useful for several reasons. If you are looking to trade using Binance US, here are some of its benefits:
- Low fees and discounts: Compared to other exchanges, Binance US has low trading fees. The platform charges a 0.5% fee for buy/sell transactions and Binance coin holders get an additional 25% discount on trading fees.
- Supports over 50 cryptocurrencies: You can trade some of the biggest cryptocurrencies with Binance US. It supports Bitcoin, Ethereum, Stellar, Chainlink, Cardano, Harmony, Tether, and several other notable coins in its portfolio.
- Easy trading: You can perform crypto-to-crypto trades without using fiat currencies. The platform is easy to navigate and ideal for both beginners and seasoned traders. It also provides top-notch security features to protect your NFTs.
Final Thoughts
We hope you enjoyed this list of the top 5 best nft tokens. Although the entire cryptocurrency market can be up or down, NFTs keep increasing in value. Considering the hype, security, and potential, it is likely that these top NFT projects will survive the bear market and thrive in the long run. Thus, it might be a good decision to invest in some of these tokens. However, it is advisable to always do your own research and only invest an amount of money that you can afford to lose.
