You could think of the Elrond blockchain as competing with Ethereum. It uses smart contracts, is highly scalable with low transaction fees, and has an expanding NFT ecosystem that’s worth looking around.
The Elrond NFT space is smaller so it’s easy to navigate and get familiar with, and there seem to be fewer scams (although you should still be careful).
Compared to trading NFTs on Ethereum, marketplaces are still developing, and you won’t yet find an extensive range of analytics tools. Overall, it feels like it’s at an early stage.
Elrond Wallets
The currency of the Elrond network is EGLD, and you can get hold of it on exchanges including Binance, KuCoin and Bitfinex.
You’ll then need to transfer your EGLD across to a wallet that connects up with Elrond’s NFT marketplaces, and for that, either Web Wallet or Maiar are the standards. One marketplace, Trust Market, will also connect to a Ledger hardware wallet.
Elrond NFT Marketplaces
The two biggest marketplaces are Trust Market and DeadRare. The site designs are a little sparse, but you can easily buy, sell and make offers.
Just connect up your wallet and you’re good to go. On Trust Market, you need to click on Login at the top right, and then you’ll be directed to log in through your wallet. On DeadRare, just click on Connect at the top right, and then select your wallet.
With DeadRare, there’s a Staking tab up at the top. Currently it only links up with one collection, Krypto Koalas. Buy a Krypto Koalas NFT, and you can then stake it to earn $LEAF tokens.
Elrond NFT Tools
What to Mint tracks upcoming drops and has a rarity checker. Elrond Index is similar, letting you check drops and rarity rankings.
If you want a blockchain scanner like Etherscan, then there’s Elrond Scan.
Lots of conversation about new projects and getting on to whiltelists happens on Discord. For general Elrond NFT chat and lots of information about new projects, Elrond World is useful and will lead you to other servers.
Elrond NFT Notable Collections
1. Gnogen Studios
Gnogen is a sprawling, versatile brand, taking in comic books, NFT collections, an NFT launchpad, a DAO, and multiple collaborations. It’s very influential in the Elrond NFT space, and its Discord is a great starting point from which to begin exploring the whole Elrond ecosystem.
2. Maiar Punks
On any chain that has NFTs, you’ll find a CryptoPunks homage (or more likely several), and Elrond is no exception, although to be fair, these punks are also wizards. By the way, Maiar Punks was the first project to collaborate with Gnogen, becoming a part of the Gnogen DAO.
There are plans for 3D avatars, a Maiar Punks Capital City, and a native token you’ll be able to farm, called $TOLKEN.
3. ElrondAPES
And yes, where there’s a punk, there must also be an ape. Some people will complain about the lack of originality, but I think it’s kind of fun to compare the ape projects on different chains. These ones actually look different, and anyway, original or not, any blockchain’s primary ape collection tends to do well.
This project incorporates staking, has a strong community, and is working on a DAO and an NFT launchpad.
4. Stramosi
A cheerful PFP collection that does a lot of trade on secondary, Stramosi is inspired by Romanian folklore, and each NFT acts as a membership pass to the @Romania DAO, which aims to boost Romanian tourism.
5. Elrond Ducks
This project has created an active community organization, partnered with What to Mint, aims to generate revenue for holders, and has plans this year for a gaming project.
Conclusion
Overall, prices for Elrond NFTs, even the top projects, are not as high as you find with Ethereum. When you’re first exploring, start with the top projects, and keep an eye on new and upcoming drops that are generating hype within the growing Elrond NFT community.
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