Non-fungible tokens prevalence has surpassed the term crypto in online searches, and that is how big the NFT industry is growing. It is the best time to begin your journey toward the NFT realm and exponentially grow your NFT business. An NFT development company will provide you with complete development services according to your business niche. There are 3 different types of NFTs available. You can choose the best based on your business needs.

Types of NFTs

There are 3 main types of NFTs

Cross-chain NFT:

NFTs are minted on a blockchain and can be transferred to a marketplace that is built on the same blockchain. For example, Binance and OpenSea NFT marketplaces are built on the Ethereum blockchain, and Splinterlands NFT marketplace is built on Hive Blockchain. So a person can transfer an NFT from the Binance marketplace to the OpenSea marketplace and cannot transfer from OpenSea to the Splinterlands market. With cross-chain NFTs, this can be made possible. There are millions of NFTs in various blockchains. It is important to have interchain operability for easily transferring NFTs as per our needs.

Fractional NFT:

A single or whole NFT is broken down into fractions to be sold individually. These NFTs are called fractional NFTs. The cost of the fractional NFTs is sold between individual investors. Through fractional NFTs, it is possible to own an NFT even with little investments, making it possible to own NFT by anyone. On the other hand, people can get their hands on expensive NFTs by buying them as fractional NFTs.

Decentralized NFT:

I don't think this type needs an explanation. This type of NFT is most commonly used and is widely known by people when compared to fractional and cross-chain NFTs. 

Now that you are familiar with the types of NFTs. Let's quickly look into the various NFT development services available for business sectors.

NFT Development Services Available For Various Business Sectors

• Arts
• Real-Estate 
• Games
• Sports
• Music
• Fashion
• Metaverse
• E-Commerce
• Ticketing
• Entertainment and so many

Non-fungible token development is on the rise, and the competition is too. It is highly recommended to hire an NFT development company to convert your digital artwork to NFTs and make huge profits from it.