Just when you think you've learned what an NFT is and understand the marketplace, you might come across an NFT creator or someone who buys NFTs that are completely different from your expectations. If you've only just begun to learn about the world of NFTs, you might not realize how many different kinds there are. No matter what your opinion is, if you're involved in the art world, it's good to be informed.
1. PFP (Profile Picture) NFTs
These are probably the NFTs you're most familiar with. The hexagon profile pictures on Twitter are people paying for the service to use NFT avatars they own as their profile pictures. Bored Apes and CryptoPunks are two of the most famous types of avatar-based NFTs, but there are thousands of different groups of them — and probably more to come!
2. One-of-One NFTs
When an NFT is a "one-of-one" it means it is a unique piece. A one-of-one NFT is yours alone after purchase, so some have gone for quite a lot of money. For example, Beeple has made seven figures on individual NFTs sold. Thus, these are often the kind people refer to when saying NFTs are great opportunities for digital artists to financially benefit. However, this is also where fraudulent NFTs are also most often found. DeviantArt Protect helps to keep your own art safe and lets you check the status of an NFT's authenticity before purchase.
3. Collectible NFTs
If you grew up collecting baseball cards or other trading cards, you already understand the appeal of this kind of NFT. Essentially, collectible NFTs are the digital version of trading cards. They are seen throughout the sports world as well as other fandoms.
4. Gamified NFTs
Also known as "crypto games," play-to-earn games are the most common form of gamified NFTs. Usually these are digital assets within a game that can be earned while playing and exchanged for financial rewards. There are other cases where the entire NFT collection experience is gamified, but that's both less common and also overlaps a lot with the concept of collectible NFTs.
5. Music NFTs
With streaming services impacting revenue, some musicians have turned to the NFT marketplace to help make a living from their work. A tokenized piece of music such as a song, album, or video can be released, allowing the artist to monetize directly.
6. Generative NFTs
If you've spent time browsing on the internet lately, you've likely seen art people are generating through artificial intelligence. It then won't surprise you to know that people are also using algorithms and AI to generate NFTs.
As you can see, not all NFTs are created equal. Perhaps one type appeals to you more as a creator and another as a buyer. It never hurts to be educated on what's out there, whether you're out to purchase an NFT, mint one yourself, or just want to learn.