Your NFTs on Flow

The world of NFTs does not revolve only around art and collectibles. It spans across various categories, and each NFT undertakes a value based on a multitude of things. NFTs can be created for purely artistic or collectable purposes, or they can be assigned a certain application when created, providing a tangible utility. Some widely implemented applications for NFTs today take the form of access such as memberships to private clubs/groups, voting power towards future developments of collections, early announcements for airdrops or for new artists' releases, etc.

Over the last few years, the NFT ecosystem has gained a lot of public awareness. As a result, we have seen growth in the number of users, transactions, market cap, and volume. You can visit the analytics page to take a look at these numbers for yourself. Furthermore, this interest has fueled demand for NFTs with collectors now looking more so now than ever to purchase blue-chip projects. This success in the ecosystem has also come with its disadvantages, thereby attracting scammers, phishers, and hackers into the market.

NFTs have a wide range of applications including: - personal IDs - collectibles - ... Right now, collectibles and art are the main applications of NFTs. From the chart below, we can see how NFTs are performing in different categories. In every category, NFTs represent ownership of an item. In the case of CryptoPunks, this item is a JPEG. For ENS, this is the .eth address and for Axie, this can be a game character.