Although non-fungible tokens are a relatively new invention, their popularity has skyrocketed. Non-fungible tokens, or NFTs for short, are one-of-a-kind digital collectibles whose authenticity is verified by the blockchain. Don’t worry if that sounds like a lot of jargon to you; you’re not alone. Many people who are new to NFTs have the same question: how can a digital work of art command such high prices?
The NFT explosion is either a passing fad or the first wave of what promises to be a completely viable asset class, depending on which side of the fence you’re on. The bottom line is that you should do your research before investing in the NFT market and be aware of the risks as well as the potential rewards. If you’re interested in participating, here are twelve of the most popular NFTs available right now.
Azuki
Azuki is a set of 10,000 avatars that grant members access to ‘The Garden,’ a virtual space where artists, builders, and Web 3.0 enthusiasts can meet and discuss the future of decentralization. Consider an old-school coffee shop for intellectuals, but with more pixels.
These $3,400 anime-style characters sold out in three minutes, bringing in around $29 million. Then, a few days later, another $2 million worth of stock was sold in a private offering.
Several major NFT marketplaces, including OpenSea, saw nearly $300 million in transaction volume in the four weeks following the collection. The most expensive pieces are now worth half a million dollars, while the most affordable are still worth $36,000.
On every Azuki NFT resale, Chiru Labs, the company behind Azuki, receives a 5% royalty. As a result, it has received an additional $15 million in royalties in addition to the $31 million it received in the initial Azuki offering.
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“The dream is for Azuki to have such a large IP (intellectual property) that there will be an animated series, possibly games, and all kinds of merchandise,” says Arnold Tsang, a 39-year-old conceptual artist who recently joined Chiru Labs.
“As a pledge of trust,” Arnold says, he chose to make his identity public. This is who I am and what I’ve accomplished. Put your faith in me that I won’t run away with your money and disappear on a Deserted Island.”
Doodles
Doodles are digitized versions of Burnt Toast’s original artwork. There are currently 10,000 Doodles available for purchase as part of a “community-driven collectibles” NFT project. Doodles are hand-drawn images with fanciful color palettes of everything from apes and mascots to cats and aliens. Ownership of a Doodle entitles the owner to participate in community activities as well.
Flyfishing Club
The Flyfish Club is another venture from the man himself, but this NFT is unique in that it is the world’s first and only NFT member-only private dining club.
Owners of one of these pieces will have access to a private dining room in New York City that will be 10,000 square feet or larger. The standard membership includes a table reservation for up to 8 non-token guests. The Flyfish Omakase, the next option, includes the same perk as the previous one, plus the ability to bring a guest to the V.I.P Omakase room.
The standard NFT membership costs 2.5 ETH, while the Flyfish Omakase membership costs almost twice as much at 4.25 ETH.
The most intriguing aspect of purchasing an NFT membership is that buyers can lease or resell their membership at any time, with this price point expected to rise due to Gary V’s prominence in the space.
According to the Flyfish Club website, “as an NFT, membership becomes an asset to the token holder, which can later be sold, transferred, or leased to others on the secondary market.”
“Through the use of NFTs, FFC is able to build a loyal, member-community for whom we can provide unique experiences. NFTs create new modernistic financial models, allowing FFC to continue to provide an exceptional and long-term product.
The collection is currently sold out, but there are plans to expand the number of locations and memberships as demand grows.
CryptoPunks
CryptoPunks are punks with a digital twist. The NFTs are pixelated images of digital art that come in the form of 88 zombie punks, 24 ape punks, and nine alien punks. CryptoPunks was founded in 2017, which is a long time in the world of NFTs. For those who don’t understand why you’d want to own a pixelated “punk,” celebrity owners include Serena Williams, Jay-Z, and Snoop Dogg. The most expensive CryptoPunk NFT was an alien avatar, which sold for $7.58 million.
Meebits
Larva Labs invented Meebits in May 2021. Meebits are pixelated, 3D avatars that can be used in the digital world, similar to CryptoPunks and created by the same developers. There are 20,000 Meebits in total, with an average value of $14,700. Some Meebits, on the other hand, can be sold for hundreds of ETHs, or about a quarter-million dollars. The Meebits are also available on a no-fee trading platform and include extras like high-resolution renders and access to a T-pose OBJ file.
Axies
Axies, which are both used for gameplay and are NFTs themselves, are used in the blockchain-based game Axie Infinity. Within the game, players can either buy or breed an Axie. To breed an Axie, you’ll need both the AXS token and another token known as SLP, or “smooth love potion,” which is required to play the game. Players can breed Axies by combining these two tokens. Axies have fetched as much as $820,000 in the past.
Bored Ape Yacht Club
The Bored Ape Yacht Club, which has a client list that includes celebrities such as Jimmy Fallon, DJ Khaled, and YouTuber Logan Paul, offers NFTs that are popular among the celebrity set. Yuga Labs created the BAYC, which consists of animated apes with various characteristics. Prices for the 10,000 Bored Apes collection, which was only released in April 2021, have been skyrocketing, with the top price reaching $2.3 million so far. Owners of NFTs receive membership cards with special benefits such as invitations to private digital concerts.
Mutant Ape Yacht Club
If you’d rather have a “mutant” ape than a “bored” ape, this NFT collection might appeal to you. The mutant collection was released in August 2021, and it was the second effort from the creators of the Bored Ape Yacht Club. The original collection of 10,000 pieces was sold for $96 million. However, there are three types of “Serum” in the collection that can be used to “mutate” the original Bored Apes into Mutant Apes. Mutant Apes aren’t as popular as Bored Apes right now, and they cost around $32,600.
NFT Collection X RTFKT Clone
Do you think a 3D, digital sneaker NFT would be appealing to you? What if the company that created these NFTs was acquired by none other than Nike? That’s right, Nike bought RTFKT in December 2021, with the goal of figuring out how to use its 3D digital sneakers, which have already been used in games like Fortnite 3D, for future metaverse applications. The RTFKT’s Clone X NFTs went crazy in price, with the floor price now at 6 ETH, or about $16,000.
Decentraland
Decentraland might be of interest to you if you’ve heard of the metaverse and want a piece of it. Users can buy and sell digital real estate, among other things, in this virtual world, which runs on Ethereum software. The NFT used to determine real estate ownership within the platform is called LAND, which is a 3D space within the world. MANA is a cryptocurrency that can be used to buy real estate and make other international transactions.
MonkeyBall
MonkeyBall may appeal to you if you’re looking for one of the newest NFT opportunities. NFT monkeys compete on a four-monkey soccer team in the next-gen esports game. Each has its own unique abilities, appearances, and characteristics. MonkeyBucks, the game’s currency, can be used to purchase in-game items or to breed more NFT monkeys.
Cool Cats
Cool Cats is a collection of 9,999 unique blue cat animations built on the Ethereum blockchain. The expressions, attires, and traits of the cats give each NFT its individuality. Mike Tyson is one of the famous people who own a Cool Cat NFT. The highest-selling Cool Cat NFT to date was a zombie version that sold for a “cool” $3.5 million at auction. The Cool Cats NFT collection is unique in that it allows developers to breed characters for future generations.
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