It’s an emotive subject that often leads to conflicting opinions; some think crypto and the associated digital asset industry are the future. Others, a little more skeptical, believe it is much like the emperor’s new clothes; all smoke and mirrors.
The truth is somewhere in between. There are elements of the digital asset industry that feel exploitative, and consumers have kicked back in those areas. NFT sales have been rejected in gaming and sports, and some crypto hype has been just that: hype. However, digital assets have a place in the modern world, and some providers have proven that.
If you’re interested in digital assets and want to know which are worth investing in, this guide to the best apps might help you.
Rarible is one of several platforms that facilitate the creation, sale and purchase of NFTs or non-fungible tokens. These are usually in the form of digital art, and proof of ownership is backed by the cryptocurrency Ethereum. Over time, the platform owners intend to decentralize it, passing control to a DAO (decentralized autonomous organization), which the community will run. Basically, it is a digital asset platform that, eventually, its users will own.
#2. NBA Top Shot
NBA Top Shot is one of two sports platforms we’ve picked because digital assets lend themselves perfectly to sports. In this instance, it’s an app for collectibles, with Forbes explaining how you can buy and sell Top Shot Moments, player cards and the like. The app taps into the passion sports fans have for memorabilia, but the asset is purely digital and can be a video or an image instead of having a card you need to protect. The app allows you to arrange your collection, show them off digital, and trade if you wish.
The other side of digital assets within sports is represented by Socios fan tokens. These are tokens backed by the cryptocurrency Chiliz, which gives the owner certain real-world benefits. Each token is branded in a sports team’s colours and can be bought and sold much like any digital asset. They rise and fall in value, although the benefits they offer appeal directly to a fan of the team they’re connected to, with unique content and experiences available to owners and a vote on certain club matters.
Anyone who has been involved in digital assets before today will already know about OpenSea; it is the single biggest digital asset marketplace in the world. It tends to trade in NFTs, and many of the most famous pieces of work have been bought and sold here. It has recently suffered a blow; Coin Telegraph reveals it was the subject of a data breach that put millions of customers at risk, but its sheer scale means it should bounce back quickly.
#5. Axie Infinity
Our final entry is completely different from the rest and demonstrates the diversity within the digital asset marketplace. Rather than being a platform to buy and sell, it is a game that encourages you to collect and develop your assets. Using Ethereum-backed NFTs, you collect pets, known as Axies, which you can breed and battle. They gain value and then can be traded. It touches upon the play-to-earn gaming model, which is quite controversial, but it would be remiss not to mention it as a viable digital asset trading platform, even if the cope is different from the others we’ve listed.
If you enjoyed this article, you might find value in the best apps section of the Best For Android site. Be sure to check it out.