Once people truly understood the abilities and the money-making opportunities behind non-fungible tokens, everyone wanted IN. Every digital artist, NFT collector, buyer or seller, and even Web3 enthusiast wanted a fraction of it. And, this also includes core and dApp developers who want to invest in the potential of non-fungible tokens. Therefore, we now have different NFT blockchains that users use for non-fungible token purposes.
But, which one should YOU use?
Naturally, every blockchain is different – whether it’s the development, the gas fees, the traffic, or the rules! It’s all different. And so, the way you interact with them when it comes to non-fungible tokens also differs. Therefore, finding the right NFT blockchains for your needs is crucial. Lucky for you, we decided to do the hard work for you!
MOST POPULAR NFT BLOCKCHAINS
First things first, what is a blockchain? In simple non-technical terms, a blockchain is: something like a financial account or book (like a ledger) that allows for secure, transparent, and unchangeable record-keeping. It is completely decentralized and fully safe for the creation and storage of digital assets like cryptocurrency or NFTs.
NFT blockchains are blockchains developed for non-fungible tokens. But, what are the factors that you should take into consideration when choosing one?
If all of this seems confusing to you, it means your knowledge of NFTs needs refreshing. Or, it might be lacking altogether. But, don’t worry… your condition has an easy fix. All you need is to join our FREE hub for NFT information. It has everything you need to take you from a beginner to a PROFESSIONAL. Click on the button below to join!
First, the most popular of all the NFT blockchains is Ethereum. It is also the biggest and most widely-used blockchain in the industry. Ethereum supports smart contracts and has a huge community of developers and users.
Ethereum is home to more than 80K NFT collections like CryptoPunks, MeeBits, and Bored Ape Yacht Club. It also allows people to mint NFTs and semi-fungible tokens. And, they’ve recently been developing a new standard, the EIB-2309, for minting multiple NFTs simultaneously. Some of its features include:
Native Token: ETH
Token Standard: ERC-721 and ERC-1155
NFT Marketplaces: OpenSea, Rarible, Nifty Gateway, SuperRare, Decentraland, and KnownOrigin
Network Mechanism: Proof of Stake
Transactions: handles over 100K transactions at the same time
Next, more option for the best NFT blockchains would be Solana – a one-of-a-kind, groundbreaking blockchain. It is home to a lot of notable NFT projects including Degenerate Ape Academy, Solana Monkey Business, SolPunks, and more. In fact, it currently hosts over 350+ projects with more to come in the next few years.
A lot of people prefer Solana because it offers relatively lower gas fees. And, it also enables the creation of advanced marketplaces like Solanart.io, DigitalEyes.market, Solsea, and more.
Its smart contracts use programming languages like Rust, C, and C++. Some of its features include:
Native Token: SOL
Token Standard: SPL-Token
NFT Marketplaces: Solsea and Solanart
Network Mechanism: PoS and PoH (proof of history)
Transactions: handles over 65,000 transactions per second
Also, there’s the Binance Smart Chain – another one of the best NFT blockchains. It is a very unique chain because is not a Layer-2 scalability protocol and it is not an off-chain solution. This means that although it is based on the Binance Chain, even if it goes down, the Smart Chain continues. It owns its own standard and is also compatible with Ethereum Virtual Machine for Ethereum-based applications. Some NFT projects on the chain include Pancake Bunnies, PixelSweeper, and more. Its features include:
Native Token: BNB
Token Standard: BEP-721
NFT Marketplaces: Binance
Network Mechanism: PoSA (proof of Staked Authority)
Transactions: handles over 160 transactions per second
And then, there’s Flow – one of the NFT blockchains that people consider as an alternative to Ethereum. Its key features include having upgradeable smart contracts driven by Cadence. It also has two cost structures for transactions: (1) for opening an account, and (2) for transactions. Some of the most popular projects on this chain include NBA Top Shot, TuneGO, BloctoBay, and more. It has also become very established in the world of NFT games! Some of its features include:
Native Token: FLOW
Token Standard: ERC-721 and ERC-1155
NFT Marketplaces: BlocktoBay and Xtingles
Network Mechanism: PoS
Transactions: handles over 10,000 transactions per second
Finally, we’ve got the latest of all the NFT blockchains which is Bitcoin. Yes, Bitcoin NFTs do exist. However, this development and addition of NFT capabilities on the blockchain are relatively new. So, there’s not much on it YET. Of the most prominent collections on the chain is the CryptoPunks-inspired project, the OrdinalPunks! We think there’s a lot of potential (and money) in Bitcoin. Read more about it here!