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Diving in with the NFT craze this year? Here’s the top 5 NFT projects that are best for your investments.
Have you ever heard of NFTs? Who am I kidding, of course you have. Over the years, cryptocurrency has immensely changed our view of finance and investments. Its unprecedented rise in the market shocked economies, to the point that it’s difficult not to know or at least hear about it, for which NFT is not an exception.
Non-fungible tokens, or NFTs, can be anything. It can be a photo, an art collection, audio or an in-game item and it has been paving the way for blockchain adaptation through the years. Based on a study made by nonfungibletoken.com, spending on NFTs last month of May 2021 amounted to over $75 million. As you might have guessed, only an upward trajectory is expected in the following years. Given its natural adaptability and capacity to evolve, the limit is out of the horizon, and only growth is anticipated.
Currently, a variety of NFTs are on their way to stardom. These have differing types of projects, platforms, and concepts per se. They differ depending on what specific blockchain is involved, markets and areas they target to capture, and even the type of NFT or “products” involved. It can be in a form of digital arts you might want to collect, or short videos that excite you.
Given NFTs’ current popularity in the market, we know that you might want to broaden your knowledge and most probably invest in such. If so, you may want to check below top 5 NFT projects that we think is best for your investment.
Top on the list is one of the most popular and more unique NFT projects in the current mainstream market – CryptoPunks. CryptoPunks is a collection of pixilated digital arts being monetized as non-fungible tokens (NFTs) living under the ETH (Ethereum) blockchain. It has been one of the pioneers in this concept since its first rise in 2017, and currently, there are over 10,000 “punks” collectables available in the market.
The idea was inspired in the age of the English punk scene, featuring various forms. Some are monkey-like, human, alien, with different features making each punk unique and cannot be replicated. These NFT collectibles being crazed with all over the internet is available in two of the biggest NFT platforms, Larva Labs and OpenSea.
Same with other NFT collectibles, CryptoPunks are usually utilized as investments that can be bought and sold, with its own risks and benefits. Although there‘s no guarantee for future returns, being backed by a huge community is a solid reason to believe that these are of great value as investment assets. As of writing, the most expensive cryptopunk collectable ever sold amounted to $11 million.
Twitter Account: @larvalabs
Read More: https://nftnow.com/guides/cryptopunks-guide/
BORED APE YACHT CLUB (BAYC)
If you have spent a specific amount of time watching TV or browsing Twitter, you have most probably seen a Bored Ape Yacht Club (BAYC) NFT. Many famous celebrities, such as Jimmy Fallon, Eminem and Stephen Curry, have already joined the hype for this. Bored Ape Yacht Club, also an NFT project inheriting from Ethereum blockchain with punk-related concepts, have been successful through the years from an internet sensation turning to an influential NFT brand.
Same with CyptoPunks, each “apes” has different items building its rarity. Currently, there are only a total of 10,000 apes existing in the market, in which the highest selling item went for almost $3 million. This limited supply might be perceived as a disadvantage to make investors back out, however, given the popularity, the large community it had developed, and a number of celebrities and brands joining the craze, that fixed supply could be anticipated as more valuable and profitable.
MUTANT APE YACHT CLUB (MAYC)
As you might have guessed from the name itself, this one is basically a “mutated” spin-off of Bored Ape Yacht Club. Mutant Ape Yacht Club (MAYC), which started as a project to support investors who could not afford BAYC NFTs, is also now a huge hit among investors and mimicking the success of its “forefather”.
Mutant Ape Yacht Club’s success propelled through the months of year 2021, and now consists of 20,000 mutated apes. This project basically introduces an entirely different NFT collection which is exclusively available for traders at OpenSea. Anticipation and continuous success are deliberately expected by the market as more and more brands and celebrities get involved in this project.
Read More: https://www.finder.com/mutant-ape-yacht-club
See also: Opensea, biggest NFT market place
Cool Cats, also a take on digital arts concept of NFT, has considerably grown ever since its drop last July 2021. One can say that it launched on a perfect timing, taking advantage on the early rise of Bored Ape Yacht Club (BAYC). Cool Cats is also built on-top of Ethereum blockchain, which consists of cat-like collection of 9,999 NFTs. These collections feature unique traits in each cat, with various items, outfits, and color, some making the cat rare.
One main reason why Cool Cats have remained on top is due to the various perks that the project provides to its owners. It claims to give back at least 20% of ETH raised in the market to the community via airdrops. Investors have chosen to hold their cool cat NFTs due to the occasional contests and giveaways the project has.
However, since it hit the market, there has been a considerable decrease in prices. But don’t worry, there are still various reasons to believe that Cool Cats could continue to grow given the solid community of holders it has created. There are also many celebrities and prominent collectors getting involved in the craze.
Read More: https://nftnow.com/guides/cool-cats-guide/
Aside from the realm of digital arts, one of the best use cases of NFTs is in online gaming. This concept has provided to have huge growth capabilities and has been in the mainstream market over the years. One of the first blockchain-based games to pioneer this field is Decentraland.
Decentraland, powered by Ethereum blockchain, is a virtual reality (VR) gaming platform which allows users to experience and monetize in-game items and contents. It is perhaps one of the most popular NFT games in the virtual land platforms. In this game, you can buy and sell 3D land within its virtual reality universe, in which you can control with your own creativity.
Owning a land will allow you to build all sorts of things such as galleries, arenas, or whatever you desire, which you can explore and create content with.
Interested to learn more about NFTs? Let our team in COREDO help you! We have blockchain experts ready to assist you!