Ethereum
Ethereum offers significant benefits for NFTs with its well-established ecosystem and large developer community. It leads the NFT space with popular token standards like ERC-721 and ERC-1155, forming the foundation for most existing NFTs. Ethereum's smart contract capabilities, powered by Solidity and the EVM, enable versatile NFT development.
Due to its established ecosystem, robust developer community, and widespread adoption, Ethereum remains a leading platform for NFTs. However, its scalability issues and high gas fees have led to exploring alternatives.
Ethereum's recent transition from PoW to PoS has drastically reduced energy consumption, making it an even more sustainable platform for NFT projects and applications. With its established ecosystem and as well widespread adoption and high transaction throughput and technical documentation, Ethereum remains a leading choice for NFT creators and collectors.
Token: ETH
Website: https://ethereum.org
Successful project examples:
NFT marketplaces: OpenSea, Rarible, Nifty Gateway, KnownOrigin, SuperRare, Decentraland
Polygon
Polygon offers significant benefits for NFTs as a Layer 2 scaling solution for Ethereum. It provides faster and cheaper transactions while maintaining compatibility with Ethereum's smart contracts, making it an attractive option for NFT projects. Polygon's reduced transaction costs, better user experience, and no upfront costs for minting new NFTs have led many projects to migrate to its blockchain. Polygon's main advantage is its no upfront costs for minting new NFTs, and it charges a service fee (usually 2.5%) only when selling the NFTs, providing a cost-effective and user-friendly environment for NFT development.
Token: MATIC
Website: https://polygon.technology
Successful project examples:
NFT projects:
- Aavegotchi: combines DeFi with collectible digital ghosts
- Decentral Games: a virtual casino platform with NFTs representing in-game assets
- The Sandbox: a virtual world and gaming platform with NFT-based gaming experiences
- Cometh: a space exploration game with NFTs representing in-game assets
- Cryptomotors: creates and sells limited edition NFTs representing virtual cars
NFT marketplace:
- Polymarket: a prediction market with NFT shares for real-world event
Solana
Solana's high-performance blockchain with fast transaction speeds and low fees makes it an attractive platform for NFTs, especially for handling large-scale projects. Its unique combination of proof-of-history (PoH) and proof-of-stake (PoS) consensus mechanisms reduces transaction verification times. Solana has an active ecosystem with over 350 projects spanning DeFi, NFTs, and Web3, making it a vibrant platform for NFT development and adoption. Solana competes with Ethereum and Cardano.
Token: SOL
Website: https://solana.com
Successful project examples:
NFT projects:
- Degenerate Ape Academy: an NFT collection of 10,000 smoothest brained apes.
- Solana Monkey Business: a bluechip NFT collection of 5,000 unique generative art monkey NFTs
- SolPunks: Solana's version of CryptoPunks
- Frakt: an NFT collection consisting of randomly generated design patterns
- Bold Badgers: a collection of 10,000 unique Bold Badgers
- Sollamas: a collection of 8,888 uniquely generated llamas with about 165 rare attributes
NFT marketplace:
- Solanart.io: allows users to manage and trade Solana-based NFTs
- DigitalEyes.market: the first open Solana marketplace for NFTs
- Solsea: an NFT marketplace enabling creators to choose and embed licenses when they mint NFTs
- Metaplex: empowers artists and creators to launch their own self-hosted storefront for NFTs and execute online auctions
Binance Smart Chain (BSC)
Developed by Binance cryptocurrency exchange, BSC offers significant benefits for NFTs, with advanced smart contract functionality compatible with the Ethereum Virtual Machine (EVM). It allows developers to smoothly port projects from Ethereum, providing support for various BSC tools and dApps. BSC's low fees and good performance, processing 55 to 60 transactions per second, have attracted thousands of users and projects, making it a popular choice for NFT development.
Token: BNB
Website: https://www.bnbchain.org/en/smartChain
Successful project examples:
NFT projects:
- BakerySwap: an all-in-one DeFi platform and the first AMM + NFT exchange, with popular Food Combos and NFT Bakery Combos.
- Battle Pets: Gaming NFTs
- PancakeSwap: Financial NFTs
Cardano
Cardano, a sophisticated proof-of-stake blockchain, offers several benefits for NFTs. Its scalable infrastructure and smart contract capabilities, powered by Haskell, enable developers to design highly robust and efficient NFT applications. Cardano's high performance, with the capacity to process over 250 transactions per second, and its Layer 2 scaling protocol, Hydra, make it suitable for large-scale NFT projects.
Cardano's pioneering concept of non-fungible tokens of appreciation (NFTAs), using the CIP-721 metadata standard, adds unique value to the NFT ecosystem on its blockchain.
Token: ADA
Website: https://cardano.org
Successful project examples:
NFT projects:
- Spacebudz: which is said to be the first million-dollar NFT sale on Cardano
- CardanoKidz: a series of collectible cards
- CryptoMayor: a collectible game
- ADA Ninjaz: NFT project focusing on manga
- Crypto Knitties: a collection of 10,000 knitted characters
NFT marketplace:
- Somint: an art marketplace
Tezos
Tezos, a decentralized and open-source blockchain, offers several benefits for NFTs. Its self-amending function enables seamless protocol upgrades without the need for hard forks, ensuring smoother governance. The unique liquid proof-of-stake (LPoS) consensus allows any user to become a validator or delegate, increasing inclusion and focusing on governance liquidity. Tezos supports the FA2 token standard specifically designed for non-fungible tokens, providing unique token IDs and owner address pegging.
Token: XTZ
Website: https://tezos.com
Successful project examples:
NFT projects:
Tezos has attracted attention from celebrities and famous brands like Doja Cat, Redbull, and the Grammy Awards, who have minted their NFTs on the blockchain.
NFT marketplaces:
- Kalamint: a curated community-owned public NFT marketplace
- OneOf: a music NFT platform
- Objkt: largest FA2 marketplace on Tezos
Algorand
Algorand, a highly secure and scalable Layer-1-blockchain, offers numerous benefits for NFT projects. Its elaborate NFT functionality eliminates the need for complex additional apps, simplifying NFT deployment. The pure proof-of-stake (PPoS) consensus ensures decentralization and protection against blockchain forks, providing a secure environment for NFT assets. Algorand's smart contracts written in TEAL offer flexibility, and its commitment to sustainability, partnering with ClimateTrade to offset CO2 emissions, aligns with the growing demand for eco-friendly NFT solutions.
Token: ALGO
Website: https://algorand.com
Successful project examples:
NFT projects:
- ALGOeggs: a hybrid NFT project consisting of 2D and 3D art pieces
- Dahai: a tokenized fine art market and DEX
- Australia Zoo’s NFT Collection: famous wildlife conservation and animal education organization Australia Zoo
- Opulous: a platform for launching music copyright NFTs
NFT marketplace:
- ANote Music: an NFT marketplace connecting musicians with their audience
Flow
Flow is a PoS-based blockchain that offers significant benefits for NFTs, particularly in the gaming and digital collectibles space. With its high scalability and user-friendly experience, Flow aims to bring blockchain technology to a broader audience and create opportunities for NFT enthusiasts. The blockchain's upgradeable smart contracts powered by Cadence ensure greater scalability, and its multi-node and multi-role architecture enhance key transaction processes. Flow's high performance, capable of executing 10,000+ transactions per second, and its reasonable fee structure make it an attractive choice for NFT projects and applications.
Token: FLOW
Website: https://flow.com
Successful project examples:
NFT projects:
- NBA Top Shot: a highly successful marketplace with over $1 billion in all-time sales
- TuneGO: a platform for music creators and fans to engage with NFTs
- xtingles: an NFT-powered platform for audio-based experiences
NFT marketplace:
- BloctoBay: a marketplace
EOS
EOS offers several benefits for NFTs, providing a frictionless environment for decentralized applications and smart contracts. Its delegated proof-of-stake (DPoS) consensus algorithm and support for various programming languages, including C++ and WebAssembly (WASM), make it versatile and high-performing. EOS can handle approximately 10,000 transactions per second with quick confirmation times, making it suitable for NFT marketplaces and applications.
EOS is able to conduct around 10,000 transactions per second with an average confirmation time of 0.5 seconds.
Token: EOS
Website: https://eos.io | https://eosnetwork.com
Successful project examples:
NFT projects:
- Upland: the earth's metaverse mapped to the real world, accessible via web, iOS, and Android
- Crypto Dynasty: an RPG&PvP dApp game
- Blockchain Cuties: a collectible crypto game with adventures
NFT marketplace:
- AtomicMarket: a shared liquidity NFT market smart contract
WAX
WAX (Worldwide Asset eXchange) is a carbon-neutral blockchain operating on the DPoS consensus mechanism, offering significant benefits for NFTs. It consumes substantially less energy per transaction compared to Ethereum, making it environmentally friendly. WAX's native utility token, WAXP, facilitates low-cost transactions and governance. The platform has supported various successful NFT projects, such as Alien Worlds, R-Planet, and Farmers World, showcasing its potential for diverse use cases in the NFT market. Additionally, WAX provides user-friendly NFT marketplaces like NeftyBlocks and AtomicHub, making it an attractive blockchain solution for NFT enthusiasts and developers alike. https://wdny.io/
Token: WAXP
Website: https://www.wax.io | https://wdny.io
Successful project examples:
NFT projects:
- Alien Worlds: an NFT Metaverse where users interact with unique digital items
- R-Planet: a revolutionary NFT-staking and game system that allows users to benefit from their unused NFTs
- Farmers World: the first farming game functioning on the NFT platform
NFT marketplace:
- NeftyBlocks: a user-friendly marketplace for buying, distributing, and managing NFT collections
- AtomicHub: a one-stop solution for creating and trading NFTs
- Log in to post comments
