A lot has been said and written about the rise of non-fungible tokens (NFTs) and how they’re set to revolutionise the market for collectors and artists. However, an NFT app or wallet is a compulsory tool that one needs to participate in this fast-growing niche.
There are still a few options on the market these days and not all of them offer the same functionalities. This article reviews the best NFT wallets and apps with the goal of helping readers learn the pros and cons associated with each of them.
First, though, there are some features you should look for when choosing an NFT wallet.
Maintained by Ethereum Foundation-backed ConsenSys, Metamask is unarguably the best NFT wallet for creators and collectors.
It initially existed only as a browser extension that lets users connect directly to decentralised applications (dApps) such as those that power NFTs. In 2020, though, ConsenSys released the mobile version of Metamask which offers a simpler interface for collecting NFT tokens and interacting with other dApps.
Using Metamask, you can create an Ethereum wallet to directly connect with all Ethereum-based platforms to mint and trade these tokens.
Enjin is another cool blockchain wallet for collecting in-game NFTs and other collectibles. Aside from offering an option for holding cryptocurrencies and tokens, Enjin’s wallet includes a marketplace for trading these digital assets using ENJ, the project’s native token.
Enjin offers a one-click browser for accessing many Ethereum-based dApp such as those used for decentralised finance (DeFi). The project is also in the process of an integration that will see it feature in Samsung S10 devices as an inbuilt blockchain wallet for users.
Math Wallet brands itself as “your gateway to the blockchain world,” and is backed by industry-leading incubators like Binance Labs and Alameda Research. It represents another excellent option for creators and collectors looking for a Metamask alternative.
Math Wallet includes native integration and support for 65 public blockchains, allowing users to seamlessly manage their assets across these networks. It is also available on mobile, as a web browser extension and as a web wallet for separate blockchain networks.
Trust Wallet is another popular mobile wallet option for NFT collectors and boasts over 5 million users.
The app features a dApp list for art marketplaces, allowing users one-click access to sites like OpenSea, MyCrypto Heroes, Axie Infinity, etc. Although Trust Wallet does not support the transfer of NFTs, users can store and manage their assets on the application.
Trust Wallet includes native integration for public chains such as Binance Smart Chain, Ethereum Classic, TomoChain, ThunderToken, GoChain and Calisto.
AlphaWalletis an open source Ethereum-only blockchain wallet that includes a function for minting and collecting NFTs.
Directly supported applications include OpenSea, CryptoKitties, Dragonereum, ChainZ Arena, etc. The app is also compatible with all in-game Ethereum based assets, and thus ideal for collectors.
Although AlphaWallet is only available on mobile, the website offers extensive open-source tools for developers, art creators and businesses seeing other forms of blockchain-based tokenisation.
Choosing the best NFT app would usually depend on two factors. First, whether you’re a creator or collector. Second, the devices you have at your disposal.
Creating NFT art typically involves regularly connecting to marketplaces like OpenSea, Rarible, Makers Place, etc.
Creators usually have to upload their files and enable other functionalities. Such operations require the use of a desktop or computer device and are usually difficult to execute on mobile.
Hence, creators are better off using MetaMask or Math Wallet since both wallets are available as browser extensions).
Whether you’re only collecting NFTs from blockchain-based games or artists, you can execute these transactions easily on mobile wallets that support the storage and transfer of these items.
Hence, Metamask’s mobile version, Enjin, AlphaWallet, and Trust Wallet are all ideal for such transactions.
This article includes a link to the official website where users can install the cited NFT wallets on compatible devices.
The aforementioned are self-custodial wallets and will typically provide you with a backup seed phrase during the initial setup. You can restore your wallet and assets with the seed phrase if you eventually lose access to your device.
Note that you will need to purchase Ethereum’s native token (ETH) on an exchange or broker, and transfer it to the wallet after installation. For other chains like Binance Smart Chain, you’ll need to buy Binance coin (BNB) and send it to the wallet address.
The purchased amount is used to pay transaction fees for collecting or minting NFTs.
Crypto collectibles could be potentially worth a lot more in the future or hold significant memories for the collector. To keep these digital assets safe, keep the following tips in mind:
Being a fairly new industry means that existing NFT apps are far from the finished products and could use a lot of improvements. However, a handful of the options available offer advanced functions that can serve both creators and collectors.
This article reviewed five of the best NFT wallets and provided guidance that can help each category of NFT participants choose the one that suits their transactions. It also offered tips to keep your crypto-collectibles safe while the world watches on to see how far the NFT industry can go.