simply:
- Good NFTs are projects with long-term stable value and expected profitability.
- Good NFTs have several things in common: relatively high minimum prices, brand strength, celebrity endorsement, project team commitment, and real-world utility.
- Good NFTs include Bored Ape Yacht Club, Mutant Ape Yacht Club, Crypto Punks, and ENS: Ethereum Name Service.
Before looking at what are good NFTs, we need to look at what NFTs are and how they are evaluated.
non-fungible tokens, NFTs, are cryptographically unique tokens linked to digital and physical content that provide proof of ownership, authenticity, or group membership. In the game, NFTs allow the player to truly own their own purchased digital assets, such as pet monsters or spaceships, and freely trade or sell those his NFTs as he pleases. increase.
In October 2022, the global NFT market recorded more than $333 million in sales, according to data from the NFT tracking site. crypto slamAnother popular site for tracking NFT data is Dapp Radar Track Blue Chip NFTs and broader NFTs and decentralized application economics.
What is a good NFT?
In traditional finance, a good company is one that is nationally recognized, has a good reputation, and is financially sound. According to Investopedia, the best companies are known to weather recessions and turn a profit in the face of adverse economic conditions.
Blue chip stocks are considered relatively safe investments with a proven track record of success and steady growth. Blue chip stocks are certainly stable, but potentially riskier investments are less likely to generate high returns. This is true for good NFTs as well as for average NFTs.
Cryptopunks
Cryptopunksis considered one of the earliest NFT collections and was created by development studio Larva Labs. CryptoPunks are 10,000 images of him tokenized as his NFTs on the Ethereum blockchain. Holding a CryptoPunks NFT means you are the sole owner of a one-of-a-kind pixel avatar. CryptoPunks is his OG Ethereum NFT created in 2017. This was long before anyone but a crypto buff knew or cared about rare digital collectibles. Believe it or not, CryptoPunks released his 2017 for free. At the time, Ethereum’s ERC-721 non-fungible token standard didn’t even exist, and his two-man team at Larva Labs released them as an experiment. An Ethereum wallet owner got his 9,000 of his CryptoPunks exposed, and Larva Labs kept the rest.
NFT volumes have gradually increased over the next three years, but late 2020 and especially early 2021 saw a surge in demand for these proven and rare digital collections. CryptoPunks’ secondary market value skyrocketed, leading to his multi-million dollar NFT sales, auctions at Christie’s and Sotheby’s, and an abundance of his CryptoPunks used as Twitter profile pictures.
CryptoPunks was one of the first NFT collections, but nothing bigger than the Bored Ape Yacht Club.
did you know?
The most expensive CryptoPunk ever sold was sold for $11.8 million in ETH at a Sotheby’s auction to DraftKings’ largest shareholder Shalom Meckenzie in June 2021.
Boad Ape Yacht Club
Developed by Yuga Labs, Boad Ape Yacht Club A collection of 10,000 profile photos created as NFTs on the Ethereum blockchain. Bored Ape collector owns an indifferent monkey illustration with randomly generated traits and accessories. No two images are exactly alike.
Purchasing a Bored Ape Yacht Club NFT grants you access to a prestigious ‘club’ of sorts, and membership has perks. By January 2022, the Bored Ape NFT generated more than $750 million in trading volume, including subsequent variant sets, per CryptoSlam data. Bored Apes has become the Twitter NFT avatar of choice for athletes, musicians and more.
did you know?
At the time of publication, the September 2021 record sale for one Bored Ape NFT is 740 ETH, or just over $2.9 million. It was purchased by the developers of The Sandbox, the upcoming Ethereum game.
doodle
Launched in October 2021, Doodles is a series of NFTs featuring art by Burnt Toast. Doodles come in fun colors, features and sizes, with a collection size of 10,000. Each doodle owner can vote for experiences and activations paid for by the Doodles Community Treasury.
In September, Doodles announced the addition of musician and producer Pharrell Williams. doodle As chief brand officer, he will serve as executive producer for an album of music inspired by the project. In the same month, sales of Doodles NFTs surged 1,200% of his, valued him at $704 million at the time.
Azuki
Released in January Azuki has set a new milestone, becoming one of the hottest NFT projects in terms of total trading volume released in 2022. His Ethereum-based profile picture project debuted in January, and by March 2022 the first secondary sale surpassed his $1 million.
Azuki #9605 sold for 420.69 ETH, or $1.42 million at the time, more than double the previous record sale for Azuki #4666’s project at 204 ETH on February 13 (around $586,000 at the time).
The anime-inspired Ethereum collection has become one of the top NFT projects for 2022.
twin flame
Launching in February 2021, Twin Flames was conceived as a tribute to the twin brother of artist Justin Aversano, who died in utero. Twin Flames is a collection of 100 photographs of him, each of a different set of twins. The photographs, taken around the world between 2017 and 2018, showcase a wide range of subjects in their chosen locations and apparel, all united by the common attribute of being twins.
Launched in February as an Ethereum-based NFT, Twin Flames are coveted by collectors. Snoop Dogg and Gary Vaynerchuk own the Twin Flames NFT, whose portrait collection will generate about $13 million worth of trading volume by October 2021, according to OpenSea. That year, his one NFT in the collection sold for 506 ETH or almost $1.9 million.
cryptokitties
Created by Dapper Labs, cryptokitties A non-fungible token originally built on the Ethereum blockchain using the ERC721 token standard. Before ERC721 existed, tokens on the blockchain were fungible or exchangeable. A Bitcoin or Ethereum token is just like any other token. ERC721 allowed the creation of unique, non-fungible tokens.
Each CryptoKitty is unique and its digital genome is stored in a smart contract. An immutable genotype stored in a smart contract determines its appearance or phenotype. Any two of her CryptoKitties can be bred using a genetic algorithm, and offspring will be produced with their unique traits (or “cat attributes”).
The popularity of CryptoKitties quickly became a problem for the Ethereum network. The Ethereum network has a very large number of transactions that can be processed simultaneously, and a queue was built. CryptoKitties breeding has become so popular that other companies working on the platform cannot quickly confirm transactions.
In May 2020, CryptoKitties announced that it would be moving to Flow, a purpose-built blockchain.
did you know?
The most expensive CryptoKitty, Genesis, was valued at $114,481.59 at one point.
Like stocks, NFTs with good chip status come and go. The once unstoppable Bored Ape Yacht club saw its value plummet as the crypto bear market began earlier this year. popular singer in january Justin Bieber Purchased an ape for $1.3 million. As of November 2022, that JPEG is worth his $69,000.
