Best NFT Tokens to Buy: Tezos, Bored Ape, Mogul Productions
For investors and art lovers interested in non-fungible tokens (NFTs), the market is wide open and full of possibilities. The business world always loves an emerging marketplace, and there’s no doubt that NFTs represent a new way to purchase unique and authenticated collectibles, though the staying power of this new niche remains to be seen.
There’s plenty of hand-wringing about the long-term viability of NFTs, and serious consideration that it could be a bubble given the sky-high prices of many NFTs, like the uber-popular CryptoPunk site, which includes NFTs selling for as much as 1000 Ethereum coins, or $3 million.
The long-term value of NFTs is nearly impossible to estimate at the moment, and it’s likely that many of them will not retain their value. But if you didn’t like risk, you probably wouldn’t be investing in NFTs or cryptocurrency in the first place, so here are a few of the best and/or most interesting NFTs out there.
If you’re just looking for a solid investment, then Tezos is a great place to start, providing an opportunity to buy their NFT tokens for cheap and sell them high. Tezos is very similar to Ethereum, the second most valuable cryptocurrency on the market, but more advanced and scalable.
The company’s token, XTZ, allows owners to spend the tokens on its proprietary platform, for both paying fees and casting votes on proposals for upgrades. Like most cryptocurrencies, the value of Tezos continues to fluctuate, with a current valuation of $7.16 at the time of writing this article.
Bored Ape Yacht Club
If you like CryptoPunks but don’t have the cash to afford one of their NFTs, then Bored Ape Yacht Club is a great alternative.
The NFTs of Bored Ape are very popular as online avatars, with endless varieties of cartoon apes. At the moment, the company’s NFTs are also appreciating faster than nearly all the competition. While it was possible to purchase an Ape for just 1 ETH a few months ago, it now costs about 6, on average.
If you’re looking for a cool new avatar to use online and impress your crypto-loving friends, then Bored Ape Yacht Club is a great choice.
If you’re looking for NFT tokens that offer the ability to purchase unique collectibles and participate in a community of film lovers — well, Mogul Productions might be the only option.
Some of the newest offerings in the world of NFTs are so fresh there’s not much competition yet. Mogul Productions, which launched in February as the world’s first platform for DeFiFi, or decentralized film financing, is one such example.
The Mogul app offers STARS Tokens, which are based on Ethereum and allow users to spend the tokens on NFTs unique to Mogul, like film-inspired artwork and merchandise specific to Mogul films. The tokens can also be used to cast votes on scripts and participate in a community approach to filmmaking.
Not satisfied with our options? No problem. You will want to check out OpenSea, an NFT marketplace with nearly endless options for NFT tokens, including all of the options mentioned above.
But to buy on OpenSea, you will need both Ethereum tokens as well as an Ethereum wallet. One of the best options for an Ethereum wallet is MetaMask, which you can create through Google Chrome. Other good options include Trezor One, Ledger Nano S, Exodus, and Mist.
Still have questions about NFTs? Don’t worry, we all do. To learn more, check out this excellent explainer from The Verge.