Sand is the native token of the Sandbox metaverse it is used for paying for NFTs in the Sandbox marketplace and is also a governance token. NFTs, or Non-Fungible Tokens, represent ownership rights to unique digital or real-world assets, while NFT coins are fungible, i.e., they can be exchanged or traded for another NFT coin of the same value. Simply put, NFT coins differ from NFTs in their fungibility. NFTs, on the other hand, are non-fungible and have a value far beyond economics, usually affected by the laws of supply and demand. That means no matter which crypto token you hold within a cryptocurrency it has the same value as the next 1 $ETH = 1 $ETH. Its basic form has no intrinsic value and is fungible, just like any other currency. A cryptocurrency is a form of currency valued in its ecosystem. However, the fundamental distinction is revealed in the name. NFTs are a subset of the blockchain, and you’ll almost always require cryptocurrency to buy and sell them. Therefore, they tend to draw in the same crowd of blockchain enthusiasts. NFTs and NFT crypto coins are based on blockchain, with the same technology and principles. How is an NFT different from an NFT coin? And like any other cryptocurrency, NFT coins can be traded or used for buying NFTs.Īccording to Coingecko, NFT currencies have a vibrant economy with a market capitalization of about $15.8B. NFT coins like Mana, Gala, and Axs help decentralized applications with various essential functions, from being an in-game currency to voting.

For instance, Sandbox is an NFT metaverse that uses its native token, Sand, to facilitate staking and voting to maintain its virtual worlds and play-to-earn economy. NFT currencies are any cryptocurrency coins used to support the ecosystem of NFTs.

NFT coins are cryptocurrencies and are different from NFTs.

Nft tokens list