NFT stands for Non fungible token. Anything that cannot be replaced by something similar to it is known as Non Fungible. NFT are those tokens that cannot be replaced by something similar because they have a discrete footprint on the blockchain.
NFTs have definitely taken a hold of the crypto market and has made an impact on the market. As a result, the market cap of the NFT world has greatly increased.
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It started a few years back when cryptopunks released one of the earliest NFTs in the market. Since then the market has grown a lot. Different companies have released their own NFTs in the market. Following shows the list of some of the most reputable NFTs in the markets:
CryptoPunks: They have a collection of 9,999 NFTs with an average price of around $485,333 at the moment. The marketcap at the moment exceeds the value of $4.5B.
ENS: Ethereum Name Service: They allow for the decentralization naming of wallets, websites and many more. At the time of writing there are around 282,567 NFTs associated with this project. The average price is $3,137. The marketcap is around 0020$2.875B.
Bored Ape Yacht Club: It is another NFT collection that has gained the attention of NFT lovers. It has a total collection of 10,000 pieces which are owned by 5,616 owners. The total marketcap is around $2.7B.
MekaVerse: Another project that has taken over the NFT space is MekaVerse. A collection of NFTs based on the Japanese Mecha Universe. It has total assets of 8,519 that are owned by 5,316 people. The total volume has grown over 245% in the past 24 hours which has eventually listed it at 1st spot.