Today, with the rapid growth of the NFT market, millions of NFT projects and collections have been launched. Investing in cryptocurrency in general and NFT in particular has become a new trend in the world and contributed to the creation of many new young millionaires. Besides, the number of scam NFTs has also increased and this makes it difficult for newcomers to access this potential market.
If you are looking for suitable NFTs for long-term investment, blue chip NFTs are one of the most popular choices. Like blue chip stocks, blue chip NFTs always have solid value and reputation regardless of good or bad market conditions. In this article, we will help you understand more about blue chip NFTs and some examples of the top 5 blue chip NFTs.
What Is a Blue Chip NFT?
Blue-chip NFTs refer to non-fungible tokens of high value and stability, they are considered by people as assets that can guarantee high value in the long run, and are industry representatives. According to Oxalus, blue chip NFTs are determined by factors including brand recognition, community engagement, market capitalization, floor prices, and trading volume. Besides, Blue chip NFTs are also recognized and used by KOLs in the crypto market.
The term “blue chip” originates from the game of poker. In 19th century America, blue chips had the highest value in poker games, so it was used to refer to high-value assets. In traditional finance, blue chip usually refers to the stocks of the world’s leading companies, which often provide high-quality products and services, and are known to be a great investment. reliable investment in all stages of the market.
The 5 Best Blue Chip NFT Projects In 2022
Now that we understand the blue-chip NFTs, let’s talk about the top blue chip NFTs in the market and why they are recognized by most people.
CryptoPunks is one of the pioneering projects of the NFT space. It was a collection of 10,000 NFT pixel images that were generated algorithmically and was released by Larva Labs in 2017. At the time of launch, anyone could get a CryptoPunks NFT image – as long as they paid the Ethereum gas fee for minting it.
The reason why this collection is so hot is that it’s extremely rare because all 10,000 NFT images have been owned. In February 2022 a punk set a record selling for 8,000 ETH ($ 23.7 million). Today, owning an NFT from this collection is like owning a one-of-a-kind antique.
Bored Ape Yacht Club
Bored Ape Yacht Club is an up-and-coming project that has garnered a lot of attention in a short amount of time. Like CryptoPunks, this project has a collection of 10,000 NFT images of randomly generated cartoon apes with different characteristics. The BAYC community used these features to measure the rarity of an ape.
The Bored Ape Yacht Club was so successful that Larva Labs sold the rights to its two NFT collections, CryptoPunks and Meebits IP, to Yuga Labs. The collection’s market capitalization reached $ 2.5 billion in March 2022, according to data from CoinGecko. Moreover, the floor price for a Bored Ape is over $ 250,000, which has made BAYC one of the most valuable NFT collectibles in the crypto market.
Azuki is a highly rated NFT Blue Chip project for anime lovers. Azuki includes 10,000 notable avatars with anime-themed designs, which are particularly appealing to enthusiasts of both NFT and Japanese anime culture.
Azuki’s considerable followers within a few months of its launch are one of the reasons this NFT collection became so popular. With the highest total trading volume up to 190,000 ETH, Azuki has proven its reputation as one of the top favored blue-chip NFT projects.
Doodles is a collection of 10,000 NFT profile pictures featuring colorful line-drawn avatars created by Burnt Toast. The collection was launched on Ethereum in October 2021 with the price of 0.123 ETH per mint.
Doodles became famous for their community-centric efforts from the beginning. The floor price of the Doodle NFT has peaked at over $ 35,000, according to Coingecko data. Besides, the Market Cap of the collection as of March 2022 is over $ 350 million.
Mutant Ape Yacht Club
Mutant Ape Yacht Club (MAYC) is an expanded version of the popular Bored Ape Yacht Club (BAYC) NFT collection, which includes 20,000 unique Mutant Ape digital art images. Similar to BAYC, the collection’s exclusive community access and unique membership perks have made MAYC the next popular NFT collection.
Initially, MAYC was mainly a reward for BAYC holders, however, it quickly gained popularity and the project also welcomed new members to the Mutant Ape community. In addition to the 10,000 NFTs that were given out free to BAYC holders, 10,000 gorillas were sold out within an hour of launch and brought in $ 96 million in sales.
What Makes a Blue Chip NFT and How to Find It?
Similar to blue chip stocks, blue chip NFTs are collectibles that you can safely invest in because their allure and value can only grow over time. These NFTs are often large-caps, backed by celebrity reputations, and outstanding trading volumes. In addition, ensuring profits for investors in the long-term is also a factor to consider whether an NFT is a blue chip or not.
If you invest in a blue chip NFT, you will gain profit in the long run. It is important that you have to find a potential NFT to invest in it early before it turns into a blue chip NFT. You can use currently available tools like Oxalus to analyze and evaluate upcoming NFTs to pick out potential blue-chip NFTs. Here are the criteria for you to recognize a blue chip NFT:
Usually, blue chip brands have a positive reputation in a community, possibly even worldwide popularity. These brands will have lasting value over time, making NFTs historically significant and culturally relevant for years to come.
The Reputation of The Team
In addition to having a good brand, a blue chip NFT also needs a famous team behind it. If you find that the members behind an NFT collection have a good reputation, there’s a good chance that the NFT collection will become popular soon.
Floor Price and Sales Volume
Usually, the higher the NFT’s Floor Price, the more valuable it is. It shows that the NFTs of that collection are attractive and many people are willing to spend large amounts of money to own them.
Use Cases and Utility
Nowadays, NFTs are not simply simple profile pictures anymore. They can bring owners a lot of attractive perks like participating in an airdrop or an event. So if you see an NFT with desirable features, that could be an investment consideration.
The NFT market is still in its infancy and not many NFTs can qualify as blue chip NFTs. This is a great opportunity for you to analyze and identify potential NFT collections right now. Prediction can be difficult due to limited information, but the factors we analyze in this article will make it easier for you to start the research process.