What are Blue Chip NFTs?
A blockchain record connected to a specific digital or physical asset is a non-fungible token (NFT). An NFT's ownership is documented in the blockchain and is transferrable by the owner, allowing the sale and trading of NFTs. If you've ever played games like CryptoKitties or Axie Infinity, you're familiar with these unique digital assets.
A top-tier NFT collection will exhibit the qualities like frequently appearing on the leaderboards for sales, must have a well-known brand in the industry, and its parent corporation must have a solid financial foundation.
In the future, digital collectables will represent some of the most sought-after items on the internet, but with so many in existence, how can you find and identify the rarest NFTs? In this guide, we'll introduce you to the top blue-chip NFTs in existence today so that you can acquire and store these digital treasures as early as possible in their life cycle.
What is a Blue Chip NFT?
A blue-chip NFT is a well-established NFT asset with a strong team, great vision, impeccable execution, and a great name in the industry that distinguishes it from the other NFTs. The advantage of having it is that it is much more valuable than a regular NFT. In addition, these NFTs are rarer and more exclusive. For these reasons, they are becoming increasingly popular among collectors and investors.
Investing in a blue chip NFT may depend on whether you're seeking to diversify your portfolio or get better returns on your money. If you're looking for better returns on your money with less volatility, then investing in these collectables might make sense. Ultimately, these kinds of investments in digital assets are relatively new and have high risks associated with them, but if done right, they can provide substantial returns in today's economy.
Why should you invest in a blue-chip NFT project?
Investors frequently seek out blue chip NFTs because of their long-term financial sustainability. While many projects fail after a few months, these hold their value over time. Even in bearish market conditions, the average price of BAYC is now hovering around 100 ETH.
Many people consider owning a blue chip NFT to be a sign of success, and being "part of the gang" is akin to joining a club of wealthy investors and social elites.
While these NFTs are not exclusive, owning one may grant holders intellectual property rights and the ability to commercialise their NFTs in some ways. Doodles NFTs, for example, allow owners to commercialise their NFTs for up to $100,000 each. As long as you own BAYC or CryptoPunks NFTs, you can build a business around them. NFTs are thus more than just a profile picture (PFP).
Furthermore, some of the best NFT projects will occasionally give back to their holders. Using the BAYC NFT as an example, in March 2022, the project allowed owners to claim ApeCoin tokens for free. Holders can immediately sell their tokens on the open market after claiming them.
What are some of the best Blue Chip NFTs?
The world of NFTs is rapidly evolving, and blue-chip NFTs are at the forefront of this digital revolution. These NFTs are digital collectables that major brands and organizations back. The best examples include the Bored Ape Yacht Club, CryptoPunks, NBA Top Shot, and Art Blocks. Let’s go through some of the renowned blue-chip NFTs.
1. Bored Ape Yacht Club
The non-fungible token collection, Bored Ape Yacht Club, also known as Bored Apes or Bored Ape, was developed on the Ethereum blockchain. Cartoon apes' profile images are created procedurally by an algorithm and are included in the collection. Yuga Labs is the parent organisation of Bored Ape Yacht Club. Each Bored Ape is distinct and computer-generated. It features more than 170 different qualities, including expression, headgear, attire, and other characteristics. All apes are rarer than others, but they are all amazing.
The apes are hosted on IPFS and kept as ERC-721 coins on the Ethereum network.
Apeholders must be logged into their Metamask Wallet in order to access places that are exclusively accessible to members, including THE BATHROOM.
There are 10,000 randomly generated characters in the CryptoPunks. No two are exactly alike, and each can be claimed as the sole owner on the Ethereum blockchain. On the Ethereum network, CryptoPunks is a collection of non-fungible tokens. The Larva Labs studio, a two-person team, made up of Canadian software developers John Watkinson and Matt Hall, debuted the project in June 2017.
The NFT collection of Gary Vaynerchuk is called VeeFriends. You can immediately access VeeCon and join the VeeFriends network by owning a VeeFriend NFT.
VeeCon is open to all holders of VeeFriends tokens. VeeCon is a multi-day gathering that is only open to NFT holders. You will receive a three-year access pass from your NFT. The conference's main themes are business, marketing, ideas, creativity, entrepreneurship, innovation, competition, and fun.
Azuki is the NFT Art collection of 10,000 anime-themed avatars that was launched in January 2022 on the Ethereum Blockchain. The rarity of these avatars is determined by their distinct set of characteristics, weapons, and backgrounds.
Doodles NFT is a collection of 10,000 hand-drawn doodles. Each one is a one-of-a-kind combination of hundreds of exciting visual traits designed by one of the founders. There are skellys, cats, aliens, apes, and mascots in the collection, as well as dozens of rare heads, costumes, and colourways.
Author: Priya Kumari
Priya is a passionate content writer and the co-founder of Finendorse. She is an enthusiastic crypto investor and has a huge interest in the upcoming digitisation age.