Amid the constant shifts in the investment landscape, crypto has a place in the industry, and NFTs, in particular, are emerging as stars. NFTs are becoming increasingly popular and beneficial in the current environment. With the advent of recent years, particularly in 2021, NFTs have seen an unprecedented economic boom.
By 2021, the global total market revenue of the NFT industry has surpassed $41 billion. This trajectory will continue for years to come, providing additional opportunities and growth for the industry’s investors and associated developers. The NFT space is highly adaptable and evolving with each of its use cases, creating more room for growth in a lean niche sector within the industry.
In this article, we will explore what an NFT is and what are the best NFT projects you should know about in 2022.
What is an NFT?
NFTs are digital assets that represent real-world objects such as artwork, music, in-game items, and videos. They are bought and sold online, often in cryptocurrencies, and they are often encoded with the same underlying software as many cryptocurrencies.
Although NFTs have been around since 2014, they are becoming notorious as they become an increasingly popular way to buy and sell digital art. Since November 2017, a staggering $174 million has been spent on NFTs.
Certain non-fungible tokenized assets have far outperformed cryptocurrencies like Bitcoin, Ethereum, and Dogecoin in recent months. Celebrities such as Snoop Dogg, Jimmy Fallon, Jay-Z and Justin Bieber have all purchased NFTs and featured them on their Twitter profiles, increasing demand for limited edition tokenized art.
The Best NFT Projects You Should Know About in 2022
Here are the best NFT projects that are more than just works of art and may do even better in 2022.
Founded in 2017, CryptoPunks is one of the first non-fungible token projects on the Ethereum blockchain. Each punk is algorithmically generated and the collectible is limited to 10,000 punks. Human punks are the most common, but there are other types of punks as well. There are only 9 alien punks, 24 monkey punks and 88 zombie punks. Alien Punks fetches over $8 million at auction.
CryptoPunks was launched by Larva Labs, one of the biggest platforms that are different from Opensea.
At the time of writing, the best selling CryptoPunks is the CryptoPunks 7523. It has sold for over $11 million.
- Bored Ape Yacht Club
Bored Ape Yacht Club is similar to CryptoPunks in that these NFTs are often used as online avatars. The project includes cartoon monkeys with different characteristics and rarities, with the cheapest monkeys costing around 100 ETH ($275,000).
Just a few months ago, you could buy Ape for around 1 ETH, making the project one of the fastest-appreciated NFT collectibles in the industry. Since its inception, BAYC has launched token holders from Bored Ape Kennel Club (BAKC) and Mutant Ape Yacht Club (MAYC) NFTs with floor prices of 10 ETH and 25 ETH, respectively
The yacht club offers membership cards to its users. Most importantly, they grant access to those who are members of that club and have memberships.
- Cryptoon Goonz
Developed by creator and tattoo artist @SeanTat2s, Cryptoon Goonz is a 6969 generated rubber hose style character project with hundreds of unique features.
Cryptoon Goonz reminds us of early Mickey Mouse-inspired art, and each piece references pop culture, hip-hop and streetwear.
With a solid and passionate Discord community of over 10,000 members, Cryptoon Goonz is worth following to learn more about the project.
Decentraland is a virtual world with its own DAO (Decentralized Autonomous Organization) that gives control to the users of the virtual space.
Decentraland is a unique platform that seamlessly integrates Metaverse’s use cases into the NFT space.
It is probably one of the most well-known names in the virtual land platform that allows users to buy and sell virtual land in the NFTverse.
Users can create, explore, and trade the virtual space as they please, and use the space as they please on a cosmic scale. Although a wallet is unnecessary, it enhances the gaming experience as your wallet keeps all your digital assets such as names, collectibles and estates safe.
The most expensive virtual land in Decentraland is being sold for up to $900,000.
- FlyFish Club
As with some of the other new NFT projects on the list, these top NFTs are about experience, making them more than just collectibles. Flyfish Club (FFC) was born from the ingenuity of Gary Vaynerchuk, best known as the creator of VeeFriends.
There are two FFC memberships, standard Flyfish membership 2.5 ETH or 4.25 ETH Flyfish Omakase, including Omakase room.
An important part of their NFT membership is that you can always rent or resell your membership under a contract. Having learned about Gary Vaynerchuk’s previous project (Vee Friends), it’s likely that the value of Flyfish membership will increase over time.
At the time of writing, the Flyfish Club is completely sold out, but they plan to add more locations and memberships as they expand.
- Mutant Ape Yacht Club
Mutant Ape Yacht Club is the sequel to Yuga Labs’ hit Bored Ape Yacht Club. While Bored Apes are stocked by celebrities and venture capitalists, Mutant Apes offer a cheaper way to access the same network.
There are 20,000 mutants in total, including a handful of “mega mutants” priced at just 3,000 ETH ($9 million). Mutant Apes are offered to Bored Ape Yacht Club holders via airdrops. All 30,000 monkeys (both bored and mutated) have also been granted early access to the Adidas NFT project “Into the Metaverse”, which is currently reselling for more than triple the retail price. Becoming a member of this club is worthwhile and investors see value in MAYC with a minimum price of around 25 ETH.
MekaVerse is a collection of 8,888 generative Mekas containing hundreds of elements inspired by the Japanese mecha universe.
The MekaVerse project was created by Mattey and Matt B, two friends and 3D artists who were venturing into NFT space for the first time.
These Mekas are looking for drivers to drive them. The best-selling Meka on their platform is Meka #2194, which sells for nearly $2 million.
The NFT space is a great opportunity only for those who are taking the first steps toward learning, trading, investing, building and leveraging the platform’s use cases.
But it’s not always easy to determine what makes a great NFT project or something worth investing in. When selecting the best NFT projects for 2022, the projects we put together are more than just works of art.