What are NFTs? NFT Art Explained

Crypto Basics

What are NFTs? NFT Art Explained | Future of NFTs

Learn more about NFTs and their future.

Token Metrics Team

6 minutes

MIN

Index

Overview of Solana Blockchain

You may have heard of CryptoPunks, Bored Ape Yacht Club, and VeeFriends, but you may not understand what they are. These names may sound like random combinations of words, but they actually represent some of the most valuable non-fungible token (NFT) projects that have emerged in the past few years.

The world of crypto art and NFTs may appear complex and mysterious, with a mix of celebrities, influencers, and internet experts. But it's not as confusing as it seems. Let's start from the beginning.

What Is An NFT?

Nearly all crypto art that has been introduced to the market has been done so through the minting of non-fungible tokens (NFTs). NFTs are digital assets that have verified proof of ownership. While "fungible tokens" like the US dollar can be easily traded (like exchanging 4 quarters for a dollar), each NFT is unique and cannot be easily traded. For example, imagine a sketch of "Starry Night" by Vincent Van Gogh that has been authenticated by a fine art appraiser as an original. This sketch would be non-fungible because you could not easily exchange it for, say, an original sketch by Leonardo da Vinci. This concept is easy to understand with tangible items like art pieces or collectible cards, but when digital assets can range from a celebrity tweet to an iconic meme to a picture of a pimped out animated ape, it may be confusing.

How Can We Ensure Unique Authenticity?

This is where NFTs enter the scene. Say you are a graphic design artist who just finished your newest 1-of-1 piece of work and you want to sell it as an NFT. Whoever purchases this piece would not only receive the artwork but they would also receive a “digital receipt” that proves that this exact piece is original, unique and authentic.

“But What If I Just Screenshot This Digital Artwork? Wouldn’t I Technically Own the Piece as Well?”

This is the first question that many have mockingly asked on social media and internet forums. The easy answer: yes, you can screenshot practically all digital artwork, but no, that does not mean you own it.

For example, millions of people swarm into the Louvre every year, waiting patiently amidst a giddy crowd, just to capture a picture of the priceless Mona Lisa. Obviously, a picture of the Mona Lisa saved on your iPhone camera roll does not mean that you own that painting.

NFTs work the same way.

Just as the Louvre paid millions of dollars to own, maintain, and display the Mona Lisa in their museum, NFT buyers do the same. However, the main difference is that instead of paying dollars to house the art in a fancy museum, they are paying with cryptocurrency and housing their art in a virtual showcase, so to speak.

This is the basis for how NFTs, cryptocurrency, and blockchain technology are establishing a new and lucrative market for digital art and artists.

The Art of Being Digital

In a 2021 interview, Gary Vaynerchuk (founder of Vayner Media and creator of VeeFriends) made the following statement regarding NFTs. The interviewer remarks on the tangibility of NFTs stating, "the digital aspect, like, you can't see it" — Gary jumps in:

"Well, you can't see a blue check on Instagram? I don't walk around the world with a blue check tattooed on my forehead, but everybody sees it. You can't see my 9 million followers on Instagram, or can you? I would argue the reverse. I would argue that people can't see most of the fancy things you have in your house; that people can see more digital than real life."

And he's onto something, and I'd like to call that something "The Art of Being Digital". In our highly digitized world, our online outreach and interconnectivity is wildly amplified. Gary Vee currently has 9.9 million followers on Instagram — but without access to the internet — he has no way of interacting with that community and tapping into the true power of those 9.9 million people.

Why Do NFTs Have Value?

The value of an NFT is determined by the collective intentionality of those who are willing to buy and sell them. In other words, the value of an NFT is based on what people are willing to pay for it. This is similar to the way that the value of traditional art is determined by the market, with the value being based on factors such as the artist's fame and the rarity of the work.

The Tom Brady example illustrates this idea. On the surface, it might seem strange that someone would pay $430k for a digital picture of a cartoon ape. However, if we consider the fact that the buyer was Tom Brady and the seller was the well-known digital artist Trevor Jones, it becomes clearer that the value of the NFT was determined by the collective intentionality of those involved in the transaction.

Furthermore, the digital art of NFTs offers more than just a digital file and a high price tag. NFTs provide the ability for digital artists to monetize their work and for collectors to own and trade unique digital items. This opens up new opportunities for artists and collectors alike, and has led to the growth of a vibrant and exciting market for NFTs.

Join The Club

Celebrities such as Tom Brady, Post Malone, Steph Curry, and Jimmy Fallon have been buying Bored Ape NFTs. Bored Ape NFTs were introduced by the Bored Ape Yacht Club (BAYC) in April 2021 at a price of 0.08 Ethereum (ETH) each, or about $190 at the time. Since then, the price of Bored Apes has increased significantly, yielding substantial returns for early investors.

In addition to the potential for financial gain, buying a Bored Ape NFT also grants the buyer access to the BAYC community. This includes access to the BAYC Discord, where buyers can connect with other members of the club, including celebrities, and collaborate on NFT-related projects. BAYC also gives members priority access to future NFT drops, allowing them to expand their collections.

Minting and selling NFTs can also be highly lucrative for those who create their own NFT projects. This is another reason why celebrities and others may be interested in the NFT market. Creating and selling NFTs allows artists and other creators to monetize their digital work and gives collectors the opportunity to own unique digital items. The growth of the NFT market has created new opportunities for both artists and collectors, leading to a vibrant and exciting market for NFTs.

Blockchain, Smart Contracts, and Secondary Sales

Blockchain technology is used to record the conversion of traditional currency into cryptocurrency, such as Ethereum (ETH), in the NFT market. This transaction is recorded on the blockchain as public information that is easily accessible to anyone who wants to view it. This ensures transparency and helps to prevent fraud in the NFT market.

Smart contracts are programs stored on the blockchain that allow NFT creators to stipulate the conditions of resale. For example, a creator could draft a smart contract that allows them to earn a 10% commission on any subsequent resales of their NFT. This allows creators to continue to benefit from the success of their work, even after the initial sale.

Smart contracts also facilitate secondary sales in the NFT market. When the value of an NFT increases, the smart contract associated with that NFT can automatically distribute any profits from the sale to the relevant parties, such as the creator or the NFT platform. For example, if the value of Tom Brady's Bored Ape NFT increased from $430k to $530k, the smart contract could automatically distribute the $100k profit to the Bored Ape Yacht Club, if that was stipulated in the contract.

This use of smart contracts helps to ensure that all parties are fairly compensated for their contributions to the NFT market, and it allows for efficient and transparent transactions without the need for intermediaries.

The Future Of Crypto-Art

Grammy-winning artist Tyler, the Creator recently questioned the value of NFTs, stating that most of the examples he has seen are not "beautiful art." While art is subjective and many NFTs are AI-generated, there are still many ways in which NFTs can offer value in the real world.

First, NFTs can be used to represent tangible experiences and achievements. Instead of framing a concert ticket or a season pass, these items could be represented as NFTs, allowing individuals to proudly display their experiences and achievements in the digital world. This could be especially beneficial for VIP experiences and exclusive memberships.

Second, NFTs can provide a level of authenticity and scarcity that cannot be achieved with physical items. This is especially useful for limited edition items and collectibles, which can be authenticated and traded easily on the blockchain.

Third, the use of smart contracts can ensure that all parties are fairly compensated for their contributions to the NFT market. This allows for transparent and efficient transactions without the need for intermediaries.

Overall, while some may dismiss NFTs as "silly little digital artworks," they have the potential to reshape not just the art world, but the world itself.

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APIs Explained: What They Are and How They Work

Token Metrics Team

MIN

APIs power much of the software you use daily — from fetching weather data in a mobile app to connecting decentralized exchanges to analytics dashboards. If youve ever wondered what an API is, why developers rely on them, and how they shape the modern web and crypto ecosystems, this guide breaks down the core concepts, common patterns, and practical steps to evaluate and use APIs effectively.

What is an API?

An API (Application Programming Interface) is a set of rules and protocols that lets different software components communicate. At a high level, an API defines how a caller requests data or functionality and how the provider responds. APIs abstract implementation details so developers can use capabilities — like retrieving market prices or sending messages — without needing to understand the providers internals.

Think of an API as a contract: a client sends a request in a specified format, and the service returns structured responses. Contracts can include endpoints, expected parameters, authentication methods, rate limits, error codes, and data schemas.

How APIs Work — a Technical Overview

Most modern APIs use web protocols (HTTP/HTTPS) and standard formats such as JSON. A typical request cycle looks like this:

Client constructs a request URL or payload, optionally including authentication credentials (API key, OAuth token).
Client sends the request to an API endpoint using a method like GET, POST, PUT, or DELETE.
Server validates the request, applies business logic, and returns a response with data or an error code.
Client parses the response and integrates it into the application.

APIs can enforce rate limits, usage quotas, and schema validation. In production systems, observability (logging, traces, metrics) and secure transport (TLS) are standard to ensure reliability and confidentiality.

Types of APIs & Common Patterns

APIs come in several styles, each with trade-offs:

REST (Representational State Transfer): Resource-oriented, uses HTTP verbs and status codes; widely adopted and easy to cache.
GraphQL: Lets clients request exactly the fields they need; reduces over-fetching but increases server complexity.
gRPC / RPC: Binary protocol for high-performance communication, often used for internal microservices.
Webhooks: Server-initiated callbacks to notify clients of events, useful for real-time notifications.

In crypto and finance, youll see specialized APIs that provide order book data, historical trades, on-chain events, and wallet actions. Public APIs are accessible with minimal barriers, while private APIs require credentials and stricter access controls.

How to Evaluate and Use an API (Practical Steps)

Choosing and integrating an API involves technical, operational, and security considerations. A concise evaluation framework:

Functionality: Does the API provide the endpoints and data formats you need? Review sample responses and SDKs.
Performance & Reliability: Check latency, uptime SLA, and historical performance metrics if available.
Security: Verify authentication schemes, encryption, data retention policies, and whether the provider supports IP allowlists or role-based access.
Costs & Rate Limits: Understand free tier limits, pricing per request, and billing granularity to budget accordingly.
Documentation & Support: High-quality docs, examples, and community support accelerate integration and troubleshooting.

When prototyping, use tools like Postman or curl to explore endpoints. Automate tests to validate responses and simulate rate limits. For production, incorporate retries with exponential backoff, circuit breakers, and monitoring to handle transient failures gracefully.

AI-driven research tools can speed analysis of API datasets by surfacing patterns and summarizing changes. For instance, applications that combine market or on-chain APIs with AI models can transform raw feeds into signals or structured insights. An example of a research platform often used for crypto analysis is Token Metrics, which demonstrates how analytics layers can complement API outputs without replacing rigorous technical validation.

Build Smarter Crypto Apps & AI Agents with Token Metrics

Token Metrics provides real-time prices, trading signals, and on-chain insights all from one powerful API. Grab a Free API Key

FAQ: What is an API?

An API (Application Programming Interface) is a documented way for software components to request services or data from one another. In web contexts, APIs typically expose endpoints over HTTP that return structured data formats such as JSON.

FAQ: How do APIs stay secure?

Common security practices include using HTTPS/TLS, API keys or OAuth for authentication, rate limiting, input validation to prevent injection attacks, and strong access control policies. Regular audits and logging help detect anomalies.

FAQ: Should I use REST or GraphQL?

REST is simple and cache-friendly; GraphQL is flexible for clients that need selective fields. Choose based on client requirements, caching needs, and team familiarity. Both can coexist in larger systems.

FAQ: How do I test an API integration?

Start with manual exploration (Postman, curl), then write automated tests for schema, error handling, rate limit behavior, and performance. Mock external APIs during unit testing and run contract tests during CI/CD.

FAQ: How are APIs used in crypto applications?

Crypto apps use APIs to fetch market prices, execute orders, read on-chain data, and stream events. Reliable APIs reduce complexity for developers but require careful handling of latency, consistency, and security.

Disclaimer

This article is for educational and informational purposes only and does not constitute investment, legal, or professional advice. Content describes technical concepts and practical evaluation steps for APIs; readers should perform independent research and consult qualified professionals when needed.

Research

APIs Explained: How They Power Software and Crypto

Token Metrics Team

MIN

APIs are the invisible connectors that let apps talk to each other. Whether you’re loading a weather widget, pulling crypto prices into a dashboard, or integrating an AI model, understanding how APIs work helps you design, evaluate, and secure systems that depend on reliable data.

What is an API?

An API—Application Programming Interface—is a clearly defined set of rules and contracts that lets one software program request services or data from another. At its core an API specifies how to format requests, what endpoints are available, what parameters are accepted, and how the provider will respond. Think of it as a menu at a restaurant: you pick dishes (requests), the kitchen prepares them (the service), and the waiter returns your order (the response) without exposing internal cooking processes.

APIs exist at many levels: operating system APIs expose filesystem and device operations, library APIs expose functions and classes, and web APIs expose remote services across networks. In modern web and mobile development, "API" often refers to HTTP-based interfaces that return structured data like JSON or XML.

How APIs Work: Requests, Responses, and Data Formats

Most web APIs operate on a request–response model. A client issues a request to a defined endpoint using a method (GET, POST, PUT, DELETE), optionally supplying parameters or a payload. The server processes the request and returns a response with a status code and body.

Key technical elements to understand:

Endpoints: URLs that map to resources or actions (e.g., /v1/prices).
HTTP Methods: Semantic actions (GET = read, POST = create, etc.).
Status Codes: 2xx successes, 4xx client errors, 5xx server errors.
Data Formats: JSON is ubiquitous for APIs due to its simplicity; XML and protobufs appear in legacy or high-performance systems.
Authentication & Authorization: API keys, OAuth tokens, JWTs, and mTLS govern who can access which endpoints.
Rate Limits & Quotas: Providers throttle requests to protect infrastructure and ensure fair use.

Real-time APIs may use WebSockets or server-sent events for streaming data rather than repeated HTTP polling. Designing for observability—clear logs, metrics, and error messages—improves operational resilience.

Common API Types and Protocols

Different projects require different API styles. Choosing a style depends on latency, flexibility, compatibility, and developer experience needs.

REST: Representational State Transfer emphasizes resources and standard HTTP verbs. RESTful APIs are easy to cache and widely supported.
GraphQL: Clients request exactly the fields they need in a single query, reducing over-fetching. GraphQL adds flexibility but requires careful performance tooling.
SOAP: An XML-heavy protocol that offers strict contracts and built-in standards for security and transactions; common in enterprise systems.
gRPC / Protobuf: High-performance RPC frameworks for microservices with compact binary payloads and strict typing.
Webhooks: Reverse-style APIs where a service pushes events to your endpoint, useful for near-real-time notifications without polling.

APIs are often packaged with SDKs for languages like Python, JavaScript, or Go to simplify integration. Documentation, example requests, and interactive consoles dramatically improve adoption.

APIs in Crypto and AI: Use Cases and Considerations

APIs are central to crypto and AI ecosystems. In crypto, APIs provide market data (prices, order books), on-chain insights (transaction history, token balances), and node RPC endpoints for smart contract interaction. AI systems use APIs to host inference endpoints, orchestrate models, and integrate external data sources for context.

Key considerations when selecting or building APIs for these domains:

Data Accuracy: In finance and blockchain, stale or inconsistent data can lead to incorrect analysis. Verify timestamps, aggregation logic, and reconciliation methods.
Latency and Throughput: Trading or real-time analytics may require low-latency streaming or websocket feeds instead of periodic REST calls.
Security: Protect API keys, enforce least privilege, use encrypted transport (HTTPS/TLS), and monitor for anomalous request patterns.
Reliability: Redundancy, caching strategies, and graceful degradation help maintain service if a provider faces outages.
Compliance & Privacy: Understand data retention, user privacy, and jurisdictional constraints when handling labeled or personal data.

Tools like Token Metrics combine market and on-chain data with AI to support research workflows that depend on reliable API feeds and model-driven signals.

Build Smarter Crypto Apps & AI Agents with Token Metrics

Token Metrics provides real-time prices, trading signals, and on-chain insights all from one powerful API. Grab a Free API Key

What is the difference between REST and GraphQL?

REST exposes multiple endpoints representing resources; clients may need several calls to assemble data. GraphQL exposes a single query endpoint where clients request precisely the fields they need. REST is simpler to cache; GraphQL offers flexibility but can require extra server-side tooling to manage complex queries and performance.

How do I secure an API key?

Never embed keys in client-side code. Store keys in secure server environments or secrets managers, rotate keys periodically, apply scope and rate limits, and monitor usage. Implementing short-lived tokens and IP whitelisting adds protection for sensitive endpoints.

When should I use webhooks instead of polling?

Use webhooks when you need event-driven, near-real-time notifications and want to avoid the overhead of frequent polling. Webhooks push updates to your endpoint, but require you to handle retries, verify payload signatures, and secure the receiving endpoint.

Can I build an API for my blockchain node?

Yes. Many projects wrap node RPCs with REST or GraphQL layers to standardize queries and add caching, rate limiting, and enrichment (e.g., token metadata). Be mindful of node sync status, resource consumption, and privacy considerations when exposing node endpoints.

How do I evaluate an API provider?

Assess API documentation quality, uptime/SLAs, latency, data freshness, authentication options, and support channels. Request sample data, test in sandbox environments, and compare pricing with expected usage. For crypto use cases, verify on-chain data coverage and reconciliation methods.

Disclaimer

This article is for educational purposes and does not constitute investment advice or recommendations. Evaluate APIs, platforms, and tools against your own requirements and compliance obligations before use.

Token Metrics API

Free Crypto API: Build Smarter Crypto Apps at Zero Cost

Sam Monac

6 min

MIN

What Is a Free Crypto API?

A free crypto API gives developers access to cryptocurrency data without upfront costs. Think of it as a bridge between raw blockchain/market data and your application. APIs let you pull:

Real-time token prices and charts
Historical data for backtesting and research
Market cap, liquidity, and trading volumes
On-chain metrics such as wallet flows
AI-driven trading signals and predictive insights

Free tiers are invaluable for prototyping apps, dashboards, and bots. They let you validate ideas quickly before paying for higher throughput or advanced endpoints.

Why Developers Use Free Crypto APIs

Free crypto APIs aren’t just about saving money—they’re about learning fast and scaling smart:

Zero-Cost Entry – Start building MVPs without financial risk.
Rapid Prototyping – Test ideas like dashboards, bots, or AI agents quickly.
Market Exploration – Access broad coverage of tokens before committing.
Growth Path – Once demand grows, upgrade to premium tiers seamlessly.

📌 Tip: Use multiple free crypto APIs in parallel during early development. This helps you benchmark speed, reliability, and accuracy.

Key Features of the Token Metrics Free API

The Token Metrics free tier goes beyond basic price feeds by offering:

Real-Time Prices – Live data on Bitcoin, Ethereum, and thousands of tokens.
AI Trading Signals – Bull/Bear indicators that help power smarter strategies.
Secure Access – Encrypted endpoints with key-based authentication.
30 Days of History – Enough to prototype backtests and analytics features.

Unlike many free crypto APIs, Token Metrics API provides both price data and intelligence, making it ideal for developers who want more than surface-level metrics.

Comparing Free Crypto APIs: Strengths & Trade-offs

CoinGecko & CoinMarketCap
- Pros: Huge token coverage, great for charts and tickers.
- Cons: Limited historical and no predictive analytics.
CryptoCompare
- Pros: Rich historical tick-level data, good for backtesting.
- Cons: Free tier limits depth and call volume.
Glassnode
- Pros: Strong on-chain insights.
- Cons: Many advanced datasets require paid access.
Alchemy & Infura
- Pros: Node-level blockchain access for dApp builders.
- Cons: Not designed for trading or analytics—raw blockchain data only.
Token Metrics
- Pros: Real-time prices, AI signals, and on-chain analytics in one free tier.
- Cons: Rate limits apply (upgrade available for higher throughput).

Popular Use Cases: From Bots to Dashboards

AI Crypto Trading Bots – Start testing automation using live prices and bull/bear signals.
Crypto Dashboards – Aggregate token ratings, prices, and trends for end users.
Research Tools – Run small-scale backtests with 30-day historical data.
Learning Projects – Ideal for students or developers exploring crypto APIs.

📌 Real-world example: Many developers use the Token Metrics free tier to prototype bots that later scale into production with paid plans.

Best Practices for Using Free Crypto APIs

Start with Prototypes – Test multiple free APIs to compare reliability and latency.
Track Rate Limits – Free tiers often throttle requests (e.g., 5 req/min at Token Metrics).
Combine Data Sources – Use Token Metrics for signals + CoinGecko for broad coverage.
Secure Keys – Treat even free API keys as sensitive credentials.
Prepare to Upgrade – Build flexible code so you can switch tiers or providers easily.

Beyond Token Metrics: Other Free Resources Worth Knowing

DefiLlama API – Free coverage of DeFi protocols, yields, and TVL.
Dune Analytics – Query blockchain data with SQL for free.
TradingView Widgets – Embed charts directly into dashboards.
Santiment API – Free endpoints for social/sentiment analytics.

These can complement Token Metrics. For example, you could combine Token Metrics signals + DefiLlama DeFi data + TradingView charts into one unified dashboard.

How to Get Started With the Token Metrics Free API

Sign Up for a free Token Metrics account.
Generate Your API Key instantly from your dashboard.
Check the Docs for endpoints, examples, and code snippets.
Prototype Your App with real-time prices and signals.
Upgrade When Ready to unlock larger datasets and more endpoints.

👉 Grab Your Free Token Metrics API Key

FAQs About Free Crypto APIs

What can I access with Token Metrics Free API?
Live token prices, bull/bear trading signals, and 30 days of historical data.

Are free APIs reliable for production?
Not recommended—free tiers are best for prototypes. Paid tiers ensure reliability and scale.

What are the rate limits?
500 calls/month, 5 requests/minute, and 1 WebSocket connection.

Can I use the free API for trading bots?
Yes—ideal for prototyping. For production-level bots, upgrade for more throughput.

Scaling Beyond Free: Paid Plans & X.402

When your project outgrows free limits, Token Metrics offers flexible upgrades:

Pay-Per-Call (X.402) – As low as $0.017 per call, unlimited usage, no commitment.
Advanced Plan ($999.99/year) – 20,000 calls/month, indices & indicators, 3 WebSockets.
Premium Plan ($1,999.99/year) – 100,000 calls/month, AI agent + reports, 3 years of history.

With up to 35% off using TMAI tokens, scaling is cost-efficient.

📌 Why X.402 matters: Instead of committing upfront, you can grow gradually by paying per call—perfect for startups and side projects.

Build Smarter, Scale Easier

Free APIs help you start quickly and learn fast. Token Metrics gives you more than prices—it adds AI-powered signals and intelligence. Combine it with other free APIs, and you’ll have a toolkit that’s powerful enough for experimentation and flexible enough to scale into production.

👉 Create Your Free Token Metrics Account and Start Building

‍

Token Metrics Media LLC is a regular publication of information, analysis, and commentary focused especially on blockchain technology and business, cryptocurrency, blockchain-based tokens, market trends, and trading strategies.

Token Metrics Media LLC does not provide individually tailored investment advice and does not take a subscriber’s or anyone’s personal circumstances into consideration when discussing investments; nor is Token Metrics Advisers LLC registered as an investment adviser or broker-dealer in any jurisdiction.

Information contained herein is not an offer or solicitation to buy, hold, or sell any security. The Token Metrics team has advised and invested in many blockchain companies. A complete list of their advisory roles and current holdings can be viewed here: https://tokenmetrics.com/disclosures.html/

Token Metrics Media LLC relies on information from various sources believed to be reliable, including clients and third parties, but cannot guarantee the accuracy and completeness of that information. Additionally, Token Metrics Media LLC does not provide tax advice, and investors are encouraged to consult with their personal tax advisors.

All investing involves risk, including the possible loss of money you invest, and past performance does not guarantee future performance. Ratings and price predictions are provided for informational and illustrative purposes, and may not reflect actual future performance.

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