Non-fungible token (NFT) cryptos are a fast-growing segment in the digital asset space. Researchers forecast that the market could reach $80 billion in 2025.
Such an impressive growth is not surprising as many brands are entering this new arena. For instance, Coca-Cola (NYSE:KO), Nike (NYSE:NKE), Taco Bell owned by Yum! Brands (NYSE:YUM), and Twitter (NYSE:TWTR) have been vocal about their NFT ambitions.
Put another way, we’re are seeing increasing demand for NFTs. As a result, Wall Street is paying close attention to this asset class as well.
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NFT trading volumes have also been increasing thanks to NFT-based blockchain games. The play-to-earn revolution helped the game category attract an average of 1.4 million daily unique active wallets in 2021. The end result was an eye-popping $23 billion in trades during 2021. In 2020, it has been $100 million.
Analysts also concur that NFTs are becoming the bridge to the metaverse, whose market value could surpass $800 billion by 2028. Therefore, it’s no surprise that NFT cryptos were among the best performing cryptocurrencies of 2021.
Here are three little-known NFT cryptos coming on the scene that have significant upside potential in 2022.
- Alien Worlds (TLM-USD)
- Mobox (MBOX-USD)
- Worldwide Asset Exchange (WAXP-USD)
NFT Cryptos: AlienWorlds (TLM-USD)
Source: Sahara Prince/Shutterstock.com
Alien Worlds is an NFT metaverse that runs on Ethereum (ETH-USD), Binance (BNB-USD) Smart Chain, and Worldwide Asset Exchange blockchains. It is currently the world’s most popular blockchain game with roughly 11 million daily transactions by over 700,000 monthly active users.
The platform utilizes elements of both decentralized finance (DeFi) and NFT technology. The metaverse represents a simulated economy where players compete for TLM-USD.
Players need the NFT crypto to extend their power in the game. They use the crypto to stake and vote in Planet Decentralized Autonomous Organizations. Users can choose to mine the token by acquiring and renting land. They may also prefer to stake their tokens on the Binance Smart Chain for rewards and rare NFTs.
While players explore the seven planets within the metaverse, they end up creating NFTs that provide various tools, land, or avatars for a chosen playing strategy. Each planet is independent and offers its own games and NFTs.
In April 2021, TLM-USD hit an all-time high of $1.34. Currently, the altcoin is around 12 cents, down over 50% over the past six months. Its market capitalization of $187 million means Alien Worlds is among the top 320 coins in the crypto space.
Source: Ira Lichi / Shutterstock.com
Mobox is a GameFi metaverse that combines gaming NFTs with DeFi yield farming. The platform offers straightforward gameplay that utilizes free-to-play and play-to-earn mechanics.
The platform was developed over the Binance Smart Chain and launched in April 2021. Mobox focuses on NFT interoperability, enabling players to use their Mobox assets across multiple games simultaneously.
The Mobox ecosystem boasts an NFT marketplace where users can sell, buy or trade their MoMo NFTs. Users can farm, battle, and earn crypto rewards with their MoMo NFTs. The platform also allows players to stake them to farm MBOX-USD tokens or use them as collateral within the Mobox metaverse.
MBOX-USD is the governance token and native cryptocurrency that powers the Mobox platform. Mobox has a maximum circulating supply of 1 billion tokens, while its current circulating supply is close to 80 million. MBOX-USD can be used for processing transactions, as well as staking for platform incentives or opening chests to receive MoMO NFTs.
MBOX-USD reached an all-time high of $15.62 on Dec. 1. Currently, it trades at $2.86 But like many digital assets, 2022 has not started well, and the altcoin is down 35% so far in 2022. Its market capitalization of $376 million positions Mobox among the top 200 largest NFT tokens in the crypto market.
NFT Cryptos: Worldwide Asset Exchange (WAXP-USD)
Worldwide Asset Exchange is a blockchain explicitly created for NFTs. It was launched in 2017. The platform supports popular NFT games, including Alien Worlds, Office Land and Farmers World. WAX has facilitated the trade of more than 100 million digital collectibles, including Major League Baseball and Capcom’s Street Fighter.
WAXP-USD is the native cryptocurrency within the blockchain. The platform utilizes a delegated proof-of-stake consensus system. This mechanism enables roughly 15 million to 20 million transactions per day, making it easy to host applications requiring a high amount of transactions.
WAX has secured brand partnerships with well-known brands such as AMC Entertainment (NYSE:AMC), Funko (NASDAQ:FNKO), Hasbro (NASDAQ:HAS), Mattel (NASDAQ:MAT), and Atari (OTCMKTS:PONGF). In December 2021, WAX tokenized the tickets for the recent Spider-Man release, helping generate AMC’s second-best one-day sales in its history.
The platform also introduced a new category of NFTs called vIRL. The patented technology allows consumer product companies to link NFTs with physical consumer products. vIRLs are particularly popular with toy manufacturers like Mattel and Funko.
WAXP-USD currently changes hands around 32 cents, up more than 450% over the past year. But, so far in 2022, the NFT coin is down more than 20%. Its market capitalization of $692 million positions WAX among the top 130 largest coins in the crypto market.
On the date of publication, Tezcan Gecgil did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
Tezcan Gecgil has worked in investment management for over two decades in the U.S. and U.K. In addition to formal higher education in the field, she has also completed all 3 levels of the Chartered Market Technician (CMT) examination. Her passion is for options trading based on technical analysis of fundamentally strong companies. She especially enjoys setting up weekly covered calls for income generation.
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