Looking for examples of successful NFT projects? Here’s a list of some of the top NFT projects so far.
A Simple Explanation Of A Successful NFT Project
An NFT project is a large-scale project containing a unique collection of NFTs (Non-Fungible Tokens). Some are incredibly lucrative and there is no better example than Axie Infinity, an NFT which can be used in its own strategy-based game on the Ethereum blockchain. It’s crypto’s answer to Pokémon and weaves the play-to-earn NFT concept into its game play, already resulting in sales in excess of $4b.
The NFT Obsession
Fads come and go. Despite many predictions to the contrary, NFTs have to date proven they are here to stay. Digital music, art and collectors’ items like trading cards are all the rage in the NFT realm but some NFT projects are thinking even more broadly. Crypto Baristas for instance steers a portion of its earnings toward a coffee growing community in Honduras and entitles the holder to discounted coffee and similar perks. Here are some great examples of successful NFT projects to look out for.
Axie Infinity
Crypto network: Ronin
Sales: $4b
Buyers: 1.7m
They’ve got game, making Axie Infinity the biggest NFT project in the world today. The play-to-earn model (P2E) means the more you play, the more cryptocurrency you can earn. Players can collect and mint NFTs of Axies in game play for as little as $20 They can also buy, sell and trade their tokens on the Ronin blockchain which is a sidechain of Ethereum. While the NFTs are considered collectibles, they may not provide a big upside in terms of appreciation.
Cryptopunks
Crypto network: Ethereum
Sales: $2.3b
Buyers: 5,800
When CryptoPunks was launched in 2017 as one of the world’s first NFT projects, they were free! All the user had to pay was a small gas fee. By February, 2022, a record 8000 ETH ($23.7m) was paid for CryptoPunk #5822. The NFTs are a digital representation of the 1970s London punk scene. There are 10,000 unique 8-bit algorithmically generated depictions.
Bored Ape Yacht Club
Crypto network: Ethereum
Sales: $2.3b
Buyers: 11,600
Not far behind CryptoPunks in terms of popularity and sales is the Bored Ape Yacht Club, launched in April 2021. It comprises 10,000 unique tokens of apes looking decidedly underwhelmed. Celebrity buyers including Justin Bieber and Serena Williams have added some cyber street cred to the token which starts from a cool 91ETH on OpenSea with the potential to rise substantially. They’ve jumped into the game market too with the P2E Otherside where players can own virtual land and morph their NFTs into characters in the game.
Mutant Ape Yacht Club
Crypto network: Ethereum
Sales: $1.6b
Buyers: 21,800
A side project of the Bored Ape Yacht Club, Yuga Labs doubled down with their mutant primates. Up to 20,000 mutant apes can be created either through minting or by mutating a Bored Ape, exposing it to “mutant serum”. The original minting cost was 3 ETH. Overall prices are lower than Bored Ape, given the project is double the size. And like its sister project, Mutant Ape owners become part of an official club and are eligible to attend exclusive events.
NBA Top Shot
Crypto network: Flow
Sales: $1b
Buyers: 440,000
The extraordinary popularity of these NFTs opens up a world of possibilities for other sports around the globe. Their popularity is driven not by the availability of the token but by the adulation of the game’s players as influential NBA “moments” are captured in NFT form. They are then sold in a group of three moments per pack, not dissimilar to the trading cards of yesterday.
Art Blocks
Crypto network: Ethereum
Sales: $1.3b
Buyers: 30,000
A kind of lucky dip for art enthusiasts – Art Block offers unique, customizable and programmable art via the use of an NFT drop. Users mint the NFTs but don’t know what they are getting until they’ve paid for it! The project offers high-end, curated and uncurated pieces with a project known as Fidenza #313 selling in 2021 for 1000 ETH ($3.4m).
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