Into the Rabbit Hole: The Classification of NFTs

In the first part of this NFT series, we take a bird’s eye view of the NFT space, and the different waves and classifications on the market.

A Classification of NFTs:

1st Wave — Rarity: What makes my NFT one-of-a-kind in the world?

  • Collectibles (Cryptokitties, CryptoPunks, Dapper Labs)
  • Fine Art & Antiquities (Wladimir Baranoff-Rossiné, Barney A. Ebsworth sold at Christie’s or Sotheby’s)
  • Digital Art (PAK, Amrita)
Collectibles — The rare ones usually are the most desirable ones.

2nd Wave — Utility: Can an NFT have more uses than just being eye-candy?

  • Expressive Art (Art Blocks, Squiggle, Red Hongyi)
  • Generative Art (BAYC, Audioglyphs, Pengus, Abs, ON1)
  • Gaming NFTs (Axie, Rumble Kong, CryptoBlades)
  • Fashion & Brands (Gucci, RTFKT Studios, Burberry, Lamborghini)

3rd Wave — Community: How can I uniquely participate in the creation and evolution of the NFT?

  • Community-Owned Gaming (Loot)
  • Scratch-Card Concept (Lost Poets)

Upcoming 4th Wave — Combination: How mainstream business are using NFTs more effectively?

  • Dynamic NFTs (Ether Cards, Daniel Asham, DreamsQuest)
  • Asset-Backed NFTs (Diamonds, wine, utilities, technology)
  • Programmable NFTs (Totally Brand New)

IMPORTANT DISCLAIMER:

THIS IS NOT FINANCIAL ADVICE

Want to learn more about NFTs?

  • Get Comfortable With The Basics Of NFTs
  • Understand The Types and Value Of NFTs
  • Learn How To Open Up Your First Metamask Wallet
  • Be Connected With Crypto Experts and Enthusiasts
  • Stay Informed And Updated With The Cryptoverse

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