Most Iconic NFT Projects That You Should Know

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Non-fungible tokens (NFTs) have taken the digital and investment realms by storm, with some projects achieving iconic status. In this exploration, we’ll delve into the most iconic NFT projects that investors should be aware of. These projects have not only shaped the NFT landscape but also captured the imaginations of collectors and investors worldwide, making them essential knowledge for anyone looking to navigate the exciting world of NFT investments.

Guidelines for Choosing NFT Projects for Investment

Opt for NFT projects based on their level of rarity

A core quality of NFTs is their rarity. By the principles of Supply and Demand, those NFTs in great demand often attract more buyers and are sold for higher prices. 

For a more impartial evaluation of an NFT, individuals can turn to third-party platforms such as a rarity analyzer.

These platforms utilize the blockchain explorer and other data sources to compute the NFT’s rarity, factoring in elements like its level of popularity, trading activity, and ownership count.

Select NFT projects based on their utility

The fundamental worth of any digital asset is its utility. A digital asset lacking usefulness typically lacks a practical purpose and tends to have limited demand.

Conversely, an NFT with substantial utility possesses an inherent value that can be appreciated over time, depending on the project’s popularity and adoption.

For instance, NFTs within the gaming sector are presently regarded as highly utilitarian and are expected to see increased demand as new participants join the community.

Another factor impacting the value of an NFT is the strength of its collection. Moreover, considering the real-world applications of NFTs is essential. For instance, some NFTs can be exchanged for tangible prizes, while others grant access to exclusive events.

Base your selection of NFT projects on the scale of their community

In the realm of NFTs, the community plays a pivotal role as it directly impacts the potential pool of users and buyers in the open market.

For instance, celebrities can significantly boost an NFT’s visibility by sharing it with their followers. Additionally, as an investor, gauging a project’s community size is easily achievable by assessing its subscriber count and monitoring its official social media presence.

Furthermore, regularly tracking the number of wallets actively participating in the NFT market serves as a dependable gauge of overall market demand.

Understanding the NFT’s Origins

It’s crucial to assess the origins of an NFT, as they are intricately tied to its value. The reputation and prominence of the creator often determine the market’s perception of an NFT’s worth.

Therefore, users should prioritize researching the creator before delving into an NFT investment. This involves delving into the creator’s background, the NFT’s history, and the creator’s standing in the market, among other factors.

Investing aligned with your interests

A key strategy for successful NFT investment is to allocate funds to projects that genuinely interest you, rather than solely pursuing speculative financial gains.

For instance, consider investing in collectibles that grant membership to exclusive NFT clubs, aligning your investment with your passions and preferences.

Performing a roadmap analysis

Every successful project begins with a well-structured roadmap outlining long-term action plans. A clear and defined path instills confidence in investors, subsequently increasing demand for the NFT series.

Additionally, leading projects continually introduce new features, interconnected collections, and technological upgrades to support community growth and sustainability.

Therefore, assessing project roadmaps aids in the early identification of promising NFT projects. Furthermore, roadmaps provide crucial information for enthusiasts to discern worthwhile investments:

  • NFT Drop Details: Including dates, times, and minting prices.
  • Upcoming Events: Such as launches or milestones.
  • NFT Rarity Tiers: Understanding the rarity hierarchy.
  • Merchandise Releases: Expanding the project’s ecosystem.
  • DAO Information: Governance structures and participation.
  • Exclusive Benefits: Rewards and perks for members.
  • Airdrops and Giveaways: Opportunities for free tokens.
  • NFT Companions: Add-ons or hybrids.
  • Yield Farming Utility Tokens: Enhancing the project’s utility.
  • NFT Storefronts: Platforms for trading.
  • Metaverse and Gaming Content: 3D models, in-game utilities, and compatibility with NFT gaming.

Identifying the most suitable NFT project for investment requires knowledge and time. Adhere to the three golden rules: invest in NFTs that align with your interests, conduct thorough research, and never invest more than you can afford to lose.

Most Iconic NFT Projects

Art Block

  • Crypto network: Ethereum
  • Sales: $1.3 billion
  • Total transactions: 162,783
  • Buyers: 30,285

Early NFT projects minted tokens before selling or distributing them. Art Blocks, however, takes a different approach. It’s a generative NFT platform where artists use computer scripts to create art. This means buyers acquire NFTs without prior knowledge of what they’re getting. They also personally mint the NFTs on the Ethereum blockchain.

With an unconventional approach, Art Blocks has achieved significant success, surpassing $1 billion in total sales. The platform offers three tiers: curated NFTs (high-value pieces), a Playground for experimental art, and the Art Blocks Factor tier, which features uncurated, whimsical pieces.

With its wide range of offerings, Art Blocks caters to diverse budgets and artistic tastes, making it appealing to potential NFT investors.


Mutant Ape Yacht Club

  • Crypto network: Ethereum
  • Sales: $1.6 billion
  • Total transactions: 40,715
  • Buyers: 21,800

The Mutant Ape Yacht Club is an offshoot of the Bored Ape Yacht Club (BAYC), which we’ll discuss shortly. It comprises up to 20,000 NFTs, exclusively generated through public sales or by exposing a Bored Ape to the “mutant serum.”

In August 2021, four months after the Bored Ape Yacht Club (BAYC) launch, Yuga Labs airdropped mutant serums to all members. This project is anticipated to be the second and final collection associated with BAYC, with owners gaining membership in an exclusive club featuring special events.

Besides transforming existing Bored Apes into a new version (the original BAYC NFT remains unchanged, but the serum is “burnt”), original Mutant Apes could be minted for an initial cost of 3 Ethereum. Currently, the floor price (the minimum amount to own an NFT) for a Mutant Ape is approximately 17.4 ETH, or around $19,400.

Despite having double the maximum population of the BAYC, the Mutant Ape Yacht Club hasn’t yet reached seven-figure prices. In February, Mutant Ape #4849 sold for 350 Ethereum, equivalent to approximately $835,590.

Those looking for a popular NFT platform that is likely to continue accruing in value might be able to afford a Mutant Ape, given their lower cost relative to Bored Apes. But it’s still a high price to pay in the NFT space.


Bored Ape Yacht Club

  • Crypto network: Ethereum
  • Sales: $2.3 billion
  • Total transactions: 31,384
  • Buyers: 11,601

The Bored Ape Yacht Club (BAYC) consists of 10,000 unique digital collectibles on the Ethereum blockchain, owned by Yuga Labs since its April 2021 launch. These NFTs, generated algorithmically with about 170 distinctive traits, all resemble simians with glazed-over eyes.

Owning a Bored Ape grants access to the “Yacht Club” with exclusive perks, including “The Bathroom.” Prices have surged, with the cheapest Ape now fetching around 91 Ethereum on OpenSea, roughly $101,000 at current cryptocurrency prices. This is a significant increase from the initial price of around 3.5 ETH last summer.

With total sales exceeding $2 billion and celebrity interest from individuals like Serena Williams, Justin Bieber, and Jimmy Fallon, the BAYC remains a prominent NFT project with potential for future price growth. 

With celebrity backing, the NFT project has become a hot space in the digital art space. That’s another factor propelling prices higher now, but like any trendy celebrity spot, that could change in time.


Axie Infinity

  • Crypto network: Ronin
  • Sales: $4.1 billion
  • Total transactions: 16.5 million
  • Buyers: 1.7 million

Axie Infinity tops the list in terms of NFT project sales. It’s a non-fungible token-based video game where players collect and mint NFTs known as Axies, which are digital pets. The game operates on a play-to-earn (P2E) model, allowing players to earn rewards, including cryptocurrency, for their time on the platform.

While most NFT projects utilize the Ethereum network for ownership, Axie Infinity employs an Ethereum sidechain called the Ronin Network for NFT transactions. Initially, minting an Axie NFT cost around $400, but prices have significantly dropped to approximately $20, reflecting the broader decline in cryptocurrency values.

Axie Infinity’s extensive network, Ronin, and its use of USD Coin (USDC), a stablecoin pegged 1:1 to the U.S. dollar, has made it a target for hackers. In March, the network suffered a breach, resulting in the theft of $625 million in cryptocurrency, though the NFTs remained secure.

Due to the affordability of these NFTs and their accessibility through gaming, Axie Infinity is likely to maintain its sales lead. However, while it’s considered a digital collectible, those viewing NFTs primarily as an investment may not experience significant returns from the game.


CryptoPunks

  • Crypto network: Ethereum
  • Sales: $2.3 billion
  • Total transactions: 21,594
  • Buyers: 5,817

Created by Larva Labs, CryptoPunks, an NFT project launched in June 2017, features 10,000 algorithmically generated 24×24 pixel art pieces portraying human profiles.

This project inspired ERC-721, the Ethereum blockchain standard for non-fungible tokens, in contrast to ERC-1115, which creates semi-fungible tokens for NFT projects.

The NFT images draw inspiration from London’s punk scene, cyberpunk media, and literature. These simplistic images played a pivotal role in the explosive growth of NFTs in 2021.

Initially, CryptoPunks were freely available for anyone with an Ethereum wallet, with the only costs being the blockchain’s gas fees, which were relatively low at the time.

However, times have changed rapidly. In February 2022, CryptoPunk #5822 set a record with an 8,000 ETH sale, equivalent to $23.7 million at the time, surpassing the previous record of $11 million set in June 2021.

Being an early player in the NFT space, the collectible appeal of this project is likely to endure, even amidst the increasing complexity of today’s digital art.

FAQs

Are these Iconic NFT Projects a Good Investment?

The NFT market is speculative and volatile. While some projects have seen significant price increases, investing in NFTs carries inherent risks. It’s crucial to conduct thorough research, assess your risk tolerance, and consider a long-term perspective.

How can Investors Track and Purchase these Iconic NFTs?

Investors can track NFT sales and trends on NFT marketplaces like OpenSea, Rarible, and others. To purchase NFTs, you’ll need a digital wallet, Ethereum, or other cryptocurrencies accepted on the respective platform.

Are there any Risks Associated with Investing in Iconic NFT Projects? 

Yes, NFT investments are speculative, and prices can be highly volatile. Security risks, scams, and regulatory concerns also exist. Due diligence and cautious decision-making are essential.

Conclusion

In conclusion, the world of NFTs is continually evolving, and understanding the most iconic NFT projects is crucial for investors seeking opportunities in this dynamic space. NFT projects like CryptoPunks, Bored Ape Yacht Club, Axie Infinity, Art Blocks, and Mutant Ape Yacht Club have left a significant mark, setting trends, breaking records, and capturing the attention of both collectors and investors. 

While these projects offer exciting prospects, it’s important to approach NFT investments with careful consideration and a long-term perspective, as the NFT market remains speculative and can be subject to volatility and risks. Staying informed and conducting due diligence are key to navigating this exciting yet ever-changing landscape.

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Chi Do
Chi Do
Chi Do is a content writer at CoinMinutes, responsible for creating most of the content on the website, including news related to Bitcoin (BTC), Ethereum (ETH), Blockchain, Decentralized Finance (DeFi), and more. With a keen interest in cryptocurrencies since the 2020s, Chi has acquired extensive experience and knowledge in this field. Chi holds a Bachelor's degree in communication from Academy of Journalism and Communication in Vietnam.

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