How to Judge an NFT Project: Lessons From Overhyped Projects

How to Judge an NFT Project: Lessons From Overhyped Projects

Why are NFT prices falling? What to avoid when buying NFTs from a crypto project?

Remember the popular NFT collection called Bored Ape Yacht Club (BAYC)?

This collection became extremely valuable in early 2022, but as of 2023, its popularity has faded, causing prices to drop dramatically.

The lowest price for one of these NFT artworks, also called the ‘floor price’, has fallen from 153.7 ETH (a type of digital currency) to 27.4 ETH. 

This ‘floor price’ helps indicate the overall worth of the art collection, so a big drop in the floor price means that the value of individual pieces has also taken a big hit. 

One popular example of a BAYC NFT price decrease that has been circulating on social media is a piece owned by Justin Bieber, which was once valued at $1.3 million and is now only fetching offers of around $58,000.

That being said, those who bought these artworks early are still doing okay, as these pieces are still quite valuable compared to other NFTs. 

However, this isn’t the only digital asset that’s seen prices skyrocket and then crash in recent years. In fact, it’s pretty much keeping pace with the overall NFT market, which is at its lowest in two years.

However, there are important lessons to be learned from this situation. 

Many people, especially those who invested heavily, have paid a steep price to learn these lessons. So if you can learn from their experiences without losing money yourself, it’s wise to do so.

Beware of projects which use extreme marketing

The Bored Apes always had an intense marketing campaign going on.

Such unnatural hype can artificially inflate an asset’s value and make its market more fragile. For digital assets like these, it can result in investors who don’t really understand what they’ve bought into. 

It encourages risky speculation over genuine engagement, weakening the market. A stable market should be built on cultural value and real affection for the asset, not just a flashy advertisement.

Additionally, when these NFTs are showcased in mainstream media, it might prompt wealthy individuals to buy many, raising the entry price for new investors and creating potential points of failure. 

For instance, when a major Ape owner rapidly sold dozens of NFTs earlier this year, it drove the market to a five-month low. 

A healthy digital art market needs a diverse community of engaged, individual owners, not a bunch of speculators ready to sell at the first sign of trouble.

Don’t rely on digital assets to maintain a stable value

Some Bored Ape owners have used their Apes as loan collateral and are now facing losses as values fall. 

For example, BendDAO, a loan service, is selling dozens of Apes that were taken as collateral for unpaid loans. 

This is just one of many similar services, and these forced sales might even be causing Bored Ape values to spiral downwards.

The notion that NFTs could be used as reliable financial tools this early in their existence is highly doubtful, even though providing such a service might be profitable. 

But borrowing against a volatile asset, whether it’s a digital one or not, is a terrible idea. 

Now these borrowers are seeing their Apes being sold off at the market’s lowest point instead of potentially waiting for a better time.

Joining late can be costly

Those suffering the most right now are the latecomers who bought Apes NFTs at peak prices. 

Some have suffered larger losses than even Justin Bieber, and it’s unlikely they’ll recover their investments.

The issue with this is that investors, especially new crypto investors, will find it challenging to identify when a market is overpriced. 

However, there are a few red flags to watch out for. Be wary if you see heavy marketing (such as an Ape being promoted on late-night TV shows). Such hype could be driving up the asset’s price beyond its real value.

A cautious approach is to realize that if others are already making huge profits, it’s probably too late for you to benefit from that surge, regardless of the asset. You might end up being the one left holding the bag.

This is especially true for community-driven NFTs

If everyone around you is buying into a rising asset expecting future profits, they’re probably all doing the same thing. 

A bubble in NFTs can actually harm the organic growth of its community.

Of course, another aspect is also the utility of that said digital asset. While some projects have a blockchain game, such as Footballcoin, which gives true utility to their NFTs, most do now. 

Most projects will use words such as “unique” or “innovative” to describe their assets but will spend little time explaining the mechanics of the project. These are other red flags that you should consider when judging an NFT project. 

Don’t mix arrogance with digital assets

Remember the exclusive BAYC yacht parties? 

Some of the negative feelings towards Apes stem from typical behavior seen during a booming crypto market, such as over-the-top parties. 

However, Ape owners also seem to have earned a reputation for being unusually arrogant and self-centered. To many people, an Ape picture is like a rude tweet mocking those who don’t understand why a digital monkey image could be worth half a million dollars.

While this behavior might have been a reaction to widespread ridicule towards the Apes, it was a strategic blunder (similar to what we see with Bitcoin). Now, the lack of goodwill towards Apes, whether within the crypto community or in general, is resulting in less financial support for these assets.

This is because the community of owners plays a vital role in the value of NFTs like these. For instance, the communities of other NFT collections, like Wassies and Miladies, have done a much better job at maintaining their value compared to Apes over the past year, although they started from a lower price point.

This may not be a lesson you’d learn in a traditional market, but it’s an important one. Most of us are now paying more attention to the Apes’ downfall partly because of how the owners behaved when things were going well.

Reddit’s NFT Drive Nears Monumental 10 Million User Milestone

Reddit’s NFT Drive Nears Monumental 10 Million User Milestone

Revolutionizing the crypto and NFT landscape, Reddit’s unique collectible avatars are on the brink of reaching a staggering 10 million users.

Reddit, a social media site, is nearly hitting 10 million users who have its special profile pictures, called “Reddit NFTs.” These were introduced in July 2022, so it’s been about 11 months. 

Right now, data from Dune Analytics shows that there are about 9.9 million people who have these special profile pictures. Among these, around 7.7 million users only have one of these special profile pictures and do not have them in several accounts.

Reddit Collectible Avatars

Non-fungible tokens on Reddit

In simple words, Reddit started a marketplace for special profile pictures on the Polygon blockchain in July 2022. These pictures, known as NFTs, were made by independent artists and people who create content on Reddit.

After the marketplace started, the number of people having these pictures grew quickly but then slowed down to about 3 million by November. However, there was a big increase in 2023, with the number of accounts holding these pictures tripling in the last six months.

From the start of 2023, the number of people with these special Reddit pictures has grown by 80%. The total value of the special profile pictures market is $38.4 million, and there are 13.7 million of these pictures.

Also, there have been over 303,033 sales totaling up to $32.6 million, according to the data from Dune Analytics.

RCA holders over time

In May 2023, a Reddit user named “ContextMelodic4212” praised Reddit for its success but also pointed out that some of the growth might be because of bots.

According to this Reddit user, there are some problems with people using bots to grab or ‘scoop up’ these avatars quickly. “However, I can’t think of a better use case for this technology!”

On May 26, 2023, Reddit said it will now support the Rabbids NFT collection from the big video game company, Ubisoft. Reddit users can get these Rabbids NFT pictures for their profiles for free, and people are grabbing them really quickly.

Rabbids first appeared as part of a different video game, the 2006 game “Rayman Raving Rabbids.” Ubisoft, the company that made these games, was the first big video game company to create NFT items within their games in December 2021. They made a collection of Rabbids NFT pictures for a virtual reality game called The Sandbox in February.

During a Q&A session with the India section of Reddit on May 25, Sandeep Nailwal, who helped start Polygon, said he really likes Reddit NFTs. He said that Reddit is maybe the only big tech company that has figured out how to use NFTs well, and they’ve been able to get a lot of people interested in Reddit NFTs.

He also suggested that Reddit could improve its NFTs by having a secondary marketplace and a place for artists to launch their work. He thinks these changes could make Reddit’s NFTs even better.

CryptoSnoo NFT from Reddit

But Reddit already had its own NFTs, which were launched in the summer of 2021. 

CryptoSnoo are a collection of NFTs from Reddit that features the popular Snoo mascot in different contexts. 

CryptoSnoos are unique cartoon avatars that take the form of the Reddit logo. These are created as non-fungible tokens (NFTs), which means they are unique digital items stored on the Ethereum blockchain. Two years ago, in June 2021, Reddit started an experiment to auction off these special avatars. 

Since the Reddit NFTs were well received, the users of the popular platform can still claim their CryptoSnoos. 

Three CryptoSnoos named “Original Block,” “Helium,” and “Snoopermatic” were created on June 17, 2021. These NFTs are based on the original Reddit logo that Alexis Ohanian, Reddit’s co-founder, designed in 2005. Reddit put them up for auction on OpenSea.

CryptoSnoos come in three categories: “Legendary” which means they are one of a kind, “Rare” which means there are very few of them, and “Epic” which means they are limited edition. Reddit users can find these available CryptoSnoos in Reddit’s avatar builder.

But buying an NFT from the CryptoSnoo collection doesn’t mean you own the artwork it represents. Reddit’s rules state that these NFTs are only for fun, and you don’t get any commercial rights to the artwork. Also, Reddit has the power to take away your rights to the CryptoSnoo if you say bad things about Reddit or take any legal action against them.

So, while CryptoSnoos might seem like a fun way to own a piece of Reddit history, potential buyers should understand what they are getting into before buying.

Ukraine Sells War Snapshots as NFTs

Ukraine Sells War Snapshots as NFTs

In an age of blockchain and crypto, the physical war in Ukraine could be funded by NFTs. Ukraine’s Minister of Digital Transformation announced an NFT collection to illustrate the chronological events of the conflict between Russia and Ukraine. 

The government of Ukraine is selling non-fungible tokens (NFTs) to ensure that all the facts and events of the war between Russia and Ukraine will not be forgotten over time. All the funds collected will be used to support the army and civilians in the atrocious war.

Ukraine’s invasion 

On February 24th, 2022, Russia started to invade Ukraine. The entire world was in shock, including Russian citizens. Nobody ever believed that the threats of the Russian president, Vladimir Putin, would ever come to ve true. We were all wrong. 

Ukraine’s invasion has been going on for more than a month now, and the end of the aggression is nowhere in sight. 

While the officials of the two sides continue to meet for face-to-face talks in the pursuit to end the war, the population is either defending the country or fleeing. 

Since the first week of the invasion, the Kyiv government has started to accept cryptocurrency donations, which were plentiful, especially from famous personalities within the tech and crypto space. 

The crypto donations also proved to be a reliable financial market during these uncertain times. The Bitcoin price went up as sanctions poured in and the Russian economy started to collapse. 

Meta History: Museum of War

The NFT collection displaying the terrible facts of the war between the two countries has been announced with a Twitter post by Mykhailo Fedorov, Ukraine’s Minister of Digital Transformation.  

Ukraine’s minister claimed that while Russia uses tanks to destroy Ukraine’s infrastructure, Ukraine relies on revolutionary blockchain tech to help rebuild it.

The Museum of War is a collection that combines non-fungible tokens (NFTs) registered on blockchain with news items. Each item of the collection is a reminder of an important event of the war and uses a unique illustration. 

The NFT launch replaces an earlier plan that would have allowed tokens to be airdropped to anyone who donated cryptocurrency to Ukraine. However, the government decided to not do the airdrop. There is currently no plan to give prior donors an advantage in selling the new NFTs.

Both countries have used cryptocurrency to bypass local currency restrictions and capitalise on the hype around cryptocurrency to solicit donations. Some claim that the Ukrainian government raised $54 million in cryptocurrency through donations.

Ukraine Sells War Snapshots as NFTs

Writing history into the collective memory of the digital age

According to the online museum, these tokens aim to preserve the memories of those events. They are created with the sole scope to share truthful information with the entire world and help continue receiving donations for Ukraine’s support.

The virtual museum platform presents the collection as a chronological record of all events in recent Ukrainian history. The NFTs are factual statements accompanied by personal reflections. Each NFT has a simple formula: each token is an actual news piece from an official source and an illustration from international artists.

At the moment, there are 54 NFTs available, which cover the first three days of the war between Russia and Ukraine. The NFT collection of the war in Ukraine starts with Russia’s announcement to launch a special military operation in Donbas. 

The collection is currently unreleased but can be seen on the project’s official website. The sale is expected to start at the beginning of April 2022. 

The NFT collection is being launched in collaboration with, a blockchain company that provides the NFT sales platform.

Supporters can also choose to donate Ether (ETH) directly on the page of the project – Museum of War

A music festival is offering NFTs as lifetime passes

A music festival is offering NFTs as lifetime passes

Coachella, the famous US music festival, has launched lifetime festival passes. But the truly surprising news is that these passes will be sold as NFT. Coachella has partnered with FXT.US to create the Coachella NFT marketplace. The NFTs will be put on sale on February 4, and need to be redeemed by February 25, 2022. 

What is an NFT?

Non-fungible tokens, or NFTs, are unique digital items, that are registered on a blockchain (such as Ethereum, Polygon, Terra, Solana, Tezos and any other blockchain that supports NFTs) in order to retain ownership of that item. Unlike cryptocurrency, NFTs are not fungible, and cannot be exchanged for another, as each one has a different meaning and potential value. 

The main advantage of NFTs is transparency. Think of NFTs are items registered on a public ledger, where anyone and everyone can check the exact trading history of that item. All dates and prices for previous sales are fully disclosed and all events are transparent. 

The consent of NFTs has been around since 2012 when the concept of coloured coins on the blockchain emerged. 

The first digital artist to create an NFT was Kevin McCoy, in May 2014. He minted a GIF image, of a hypnotizing collection of shapes that keep pulsating, entitles “Quantum”. 

The NFTs continued to evolve and take different shapes and have different purposes. In 2021, the market exploded, as it grew from $94.9 million to over 24.9 billion, considering total sales volumes. 

The concept of NFT became popular for almost everyone in the digital space, from big brands such as Coca Cola to local digital artists. 

What is an example of an NFT?

NFTs can be almost anything that can have a digital representation. The tokenisation process is required to register that digital item on the blockchain and actually turn it into an NFT. 

While NFTs were mostly used for digital art and some in-game assets at the beginning, the concept is now rapidly expanding. NFTs can be songs, music albums, digital art, in-game digital assets, assets with real-life benefits, and more. 

The key to creating and using NFTs is that these tokens can be traded. Gamers, for instance, are now able to make a profit from their gaming efforts. 

Coachella festival NFTs 

Coachella is a huge California-based music festival. It started in 1999 and it has grown tremendously since then. 

As of 2021, Coachella will introduce NFTs to grant lifetime access to the festival. This is a limited 10-item NFT collection, which features 10 different keys, to offer VIP access to the festival grounds. 

Coachella offers three different NFT collections for sale:

  • Coachella Key Collection
  • Sights and Sounds Collection
  • Desert Reflections Collection

The 3 Coachella NFT collections

The Coachella Keys Collection will be auctioned by the company. This collection includes 10 NFTs that grant holders lifetime tickets to Coachella. The token holders will receive passes to Coachella each year and access to Coachella-produced virtual experiences forever. NFTs can also be purchased to get special perks at the 2022 festival, such as front row access and a celebrity chef dinner.

It’s not surprising that the festival is getting into the NFT craze. In November 2021 Coachella parent AEG renamed the LA arena, Staples Center into Arena. Other traditional companies have also shown that there is plenty of money to make by attaching physical products or services to digital goods. NFT resales can also generate profits for the original seller which could prove to be a bonus for permanent items such as lifetime passes. In the case of these Coachella NFTs, the festival, artists who have created art installations and designers will be paid a royalty if the NFTs are sold again.

The other two collections feature never before heard soundscapes and posters. Owners can redeem their NFTs for a physical copy.

The Sights and Sounds Collection include 10 digital collectables, of which a total of 10,000 will be minted and each one can be bought for $60. 

The Desert Reflections Collection represents 10 posters from Coachella’s history. Buyers will receive a random NFT of the collection. Only 1,000 items will be minted and the floor price is $180. 

Coachella will donate a portion from NFT sales to HelpDirectly and Lideres Campesinas.

Three collections of NFTs will be available for sale starting February 4th.

NFTs and digital tickets

Digital tickets are one of the top potential use cases for NFTs. In 2021, the NFL announced that it will add NFTs to tickets. However, those NFTs will not grant you access to any football event. The NFL has eliminated paper tickets from the 2021 season, so digital ticketing and resales can be done without NFTs.

And there are other companies that have also tied NFTs to physical products or real-life experiences. For example, the Bored Ape Yacht Club gives exclusive access to parties. Companies ranging from Gap up to Adidas all have sold NFTs that include physical merchandise.

The Metaverse Will Have NFTs With Utility in 2022

The Metaverse Will Have NFTs With Utility in 2022

Non-fungible tokens (NFTs) have reached a higher level of popularity and acceptance by both the online and crypto communities. NFTs with utility are here and are no longer considered a bubble, as more projects join the space and give new utility to the created NFTs. 

The rise of metaverse NFTs in 2021

Non-fungible tokens (NFTs) caught the public’s attention when the record-breaking Beeple’s The First 5000 days was sold by the Christie’s arthouse for $69 million, on March 11, 2021. This became the cornerstone of NFT art and spiked a new trend for digital artists and traditional artists as well. 

Since then, NFTs have expanded to include music, art, in-game assets, and even tweets. Basically, anyone can tokenize any real-world or digital asset and use NFT minting to provide unique ownership. FootballCoin is one example of one of the first free-to-play blockchain games to offer in-game NFTs, that are available for trading. 

According to DappRadar’s report, the NFT market generated over $23 billion in 2021. 

The most significant move for NFTs and the entire metaverse space was when Facebook announced its rebrand as Meta, on October 28, 2021. The social media network aims to become more than a social media channel, and will not focus on creating a new metaverse, which will integrate social media, virtual working spaces, gaming experiences and more. The news created huge waves within the crypto space, and most metaverse-related cryptos surged in price. Some of the most hyped coins were Decentraland (MANA) and Sandbox (SAND).

However, the NFT craze started way before that. Most of you might remember CryptoKitties, the Ethereum-based game, launched in 2017. The game caused network clogging and a huge network gas fee increase, as the demand for digital kitties increased. Most of the kitties collectors were attracted to the game by the potential of breeding and selling their NFT. The hype slowed down over the next months, but the idea of speculating over the price of digital assets remained in the crypto community. 

Today, investors can find new and trending NFT collections on platforms such as OpenSea and Rarible. Some of the most popular NFT collections are CryptoPunks and Bored Apes Yacht Club (BAYC). 

GameFi is the game-changer

GameFi protocols were the key moment of watershed for NFTs who followed the metaverse hype. What is GameFi? GameFi can be described as the integration of gaming and decentralized finance (DeFi) within one ecosystem. According to Huobi Research, GameFi has revived interest in blockchain gaming.

Axie Infinity is the leading protocol in this area in 2021. This game universe allows gamers to collect Axies and create kingdoms for their pets. AXS, and SLP are the native tokens that power the game ecosystem.

Sky Mavis, a Vietnamese game developer, developed the Ethereum-based game. It was first released in March 2018. The Axie-Infinity collection quickly rose to become the most traded NFT in NFT history due to the excitement created by the community around it. The collection has more than $4 billion in annual sales. Axie Infinity’s current trading volume has outperformed other blockchain games by miles.

This game is based upon Ethereum but blockchain-based games are becoming more popular across other blockchain networks such as Solana or the Binance Smart chain. Many games have enjoyed popularity on blockchain networks, including Splinterlands on Hive and Wax and Alien Worlds on Wax and Upland on EOS.

Refusal to adhere to traditional gaming regulations

GameFi is disrupting gaming by introducing blockchain technology. However, traditional gaming has not been well-received this innovation. Steam/Valve removed all blockchain-based games in 2021. Over 26 companies and advocacy organizations have called upon Steam/Valve to reverse its ban.

The South Korean government also blocked the release of new play-to earn (P2E) games and requested that existing blockchain games with a model P2E be removed be from the Apple Store and Google Play Store. Epic Games, creator of Fortnite, stated that they are open to blockchain-based games that support crypto and blockchain-based assets.

But the GameFi trend continues to grow despite the opposition from regulators and the traditional gaming industry. ProShares, the company that launched the first Bitcoin-based ETF, has plans to launch an ETF focused on Metaverse. The ProShares Metaverse Theme ETF was filed with the United States Securities and Exchange Commission. If the registration is accepted by the SEC, it will track the performance of the Solactive Metaverse Theme Index, which includes companies involved in the adoption and usage of metaverse-related technologies.

Even one of the big four consulting companies, PricewaterhouseCoopers (PWC) Hong Kong, have dipped their toes into the Metaverse. A land plot was purchased by the company to play in a metaverse Sandbox. After a deal with Velas Network, a Swiss blockchain startup, Ferrari even hinted at NFTs.

These enterprises can use blockchain technology to build business models within the Metaverse, and gain efficiency and compatibility with the real world. It is very likely that 2021 will be regarded as the year for NFTs and DeFi, and 2022 will be the Year of GameFi and Metaverse.

What Are Metaverse NFTs and How Do They Work?

What Are Metaverse NFTs and How Do They Work?

What is a metaverse NFT? The metaverse has been one of the most awaited online experiences. Now it is now available for users from all around the world through a simple internet connection. 

Here’s what the metaverse brings and how the metaverse NFT tokens can be used. 

What is metaverse technology?

The metaverse is an immersive virtual world, where users have their own avatar and can interact with each other, share experiences and create places and objects similar to real life. A metaverse is likely to build a completely new ecosystem, a massive-multiplayer online game if you will, with an incorporated economy, that enables users to buy and sell items. 

When was the metaverse first mentioned?

In 1992, the SF novel Snow Crash by Neal Stephenson was the first published piece to mention the term “metaverse”. In the book, humans could interact with software within a 3D space similar to the real world. 

However, the idea of the metaverse exists since the late 1970s. That’s when the internet pioneers talked about the internet as a place to create a bridge between the real and the digital world.

Why is everyone talking about the metaverse?

The Metaverse and Metaverse NFTs are taking over all industries, including crypto, gaming and social media. It has become one of the most used words in 2021, as more platforms are developing and integrating a metaverse experience for their users. 

When Mark Zuckerberg announced Facebook will be rebranding and will be called Meta, he described a virtual world that will enhance and step up our online experiences. 

The metaverse can be experienced through a computer, smartphone or a virtual reality (VR) headset. 

Crypto Metaverse Games and Apps

Since the metaverse requires a safe and transparent technology to incorporate all aspects of a virtual world, including a financial environment, the rise of crypto metaverses has started. A metaverse app can be built on top of a programmable blockchain that supports smart contracts, such as Ethereum, Cardano, Solana, Harmony and others. 

A crypto metaverse is all around the economy within the virtual space, which will rely on metaverse NFTs and tokens.

How are crypto metaverse app different from traditional online multiplayer games?

Firstly, the core component of the crypto metaverse apps and NFTs are :

  • Decentralisation. A crypto metaverse is not owned or controlled by a central entity. At least a part of the metaverse is built on the blockchain. Participants can get equity in the metaverse, and the future of the metaverse is in the hands of the users. 
  • User governance. Most crypto metaverses are democratic environments that have a governance token and a decentralised autonomous organisation (DAO) to enable users to take control of the metaverse and decide on future updates or changes through voting. 
  • Transparent ownership. Crypto metaverses use in-game items, that can be represented through cryptocurrency tokens and metaverse NFTs. Gamers can truly own the assets they buy in a game and anyone can easily check on the blockchain the true owner and value of a metaverse token.
  • Crypto tokens have real-life economic value. Users of a metaverse can easily trade the metaverse NFTs and tokens on DEXs or NFT marketplaces. Some use NFTs for investment purposes while others see them as a means to transfer wealth. 

Several crypto metaverse protocols have been already launched in 2021 and more are announced to be released in the near future. 

Crypto Metaverse Examples

The most popular crypto metaverses apps and are:

  • Decentraland (Ethereum)
  • Cryptovoxels (Ethereum)
  • Axie Infinity (Ethereum)
  • The Sandbox (Ethereum)
  • Alien Worlds ( Ethereum, WAX, and the Binance Smart Chain – BSC)
  • Star Atlas (Solana)
  • Tranquility City (Harmony)

The blockchain network of a crypto metaverse game is one of the most important aspects of the experience, since a congested and hard to scale network may lead to high network fees for transactions and slow speed to confirm and register transactions. 

What is a Metaverse NFT token?

A metaverse non-fungible token (NFT) enables internet users and metaverse participants to truly own the digital assets purchased within the metaverse. 

By owning a metaverse NFT token, the user gets to own a part of the internet and has complete control over it, to trade it, store it and use it. 

A metaverse NFT can by any crypto asset in the metaverse, such as digital objects or land. The ownership of the metaverse NFT is recorded on the blockchain network of that specific metaverse and represents a real value on the decentralised finance (DeFi) market. 

Metaverse NFTs can be traded for digital assets, such as bitcoin (BTC) or ethereum (ETH) on supported NFT marketplaces and decentralised exchanges (DEXs). 

How to Buy Metaverse NFTs

With the great surge in the interest in NFTs and other crypto tokens for the past years, Metaverse NFTs are a great investment opportunity. However, it’s important to check the scarcity of the metaverse NFT that you want to purchase, as well as the brand and community behind it before you make your investment. 

Step 1. Decide on a metaverse

To buy a metaverse NFT you will first need to decide on which metaverse you want to start your digital experience. Some of the most popular crypto metaverses that support NFTs are Decentraland, Star Atlas and Alien Worlds. 

Step 2. Connect your wallet to the metaverse

Metaverse NFTs are traded using a cryptocurrency wallet, such as MetaMask and other wallets supported by WalletConnect. 

Step 3. Explore the metaverse

After you connect your wallet, you will be able to access and experience the metaverse. Users can interact with each other and set a custom avatar for the metaverse.

Step 4. Buy Metaverse NFTs from the marketplace

Metaverses have incorporated NFT marketplaces, where you can buy or sell NFTs, using the crypto metaverse native token. To buy an NFT, you will need to hold the required sum in the wallet you used to connect the metaverse. 

The Metaverse Is Free

Obviously, users can enjoy the metaverse for free, and there’s no requirement to buy a metaverse NFT. 

Now that you know how the metaverse works and how to access the metaverse NFT tokens, we hope you will enjoy this new era of the internet.