NFTs come and go so quickly that it’s not easy for people to keep up with the trends. But there are some NFTs that are called blue chips, and there’s a reason for that. Today we’re going to examine the most valuable NFTs and why they’re so expensive (and attractive).
NFT 101
NFTs (Non-Fungible Tokens) are somewhat related to cryptocurrencies. Still, they bring a whole new world of possibilities if we look closely.
Why is an NFT not fungible? To answer this question, let’s take a look at Bitcoin. Cryptocurrencies like Bitcoin, Ethereum, etc. are fungible. You can swap them and still have the same thing.
NFTs, on the other hand, are not fungible as each comes with its own uniqueness. For example, if you are trading an NFT for something else, you are now holding something very different as opposed to cryptocurrencies.
You trade 1 BTC with your friend’s BTC; You basically get the same thing, 1 BTC. You exchange an NFT with ID 765 for an NFT with ID 9747; You will land at NFT 9747.
The uniqueness of an NFT is verified by the serial number attached to it. Each serial number is associated with a unique art form that we call NFTs.
Most people assume that NFTs are just a bunch of art images on the internet, which they don’t know, but what they don’t realize is that each “art image” is unique and has myriad other benefits.
The benefits of owning NFTs
Owning certain NFTs may grant you access to exclusive events, invitations to enter tournaments, the right to play a specific character in a Metaverse game, etc.
You can also use NFTs to generate passive income for yourself.
Invest in NFTs
Some people like to play it safe and put a portion of their investments into NFTs. Finding low-risk, low-investment, high-return NFTs isn’t easy.
As Gary V said, 98-99% of NFTs are NOT good investments. He thinks if you invest in something you don’t understand, you’re basically gambling.
So what do we do? They are trying to find blue chip NFTs. But what are these? That’s what this article is about. Let’s jump right in to understand the world of blue chip NFTs.
Blue chip NFTs
To understand blue chip NFTs, let’s first understand the term blue chip refers to. When investing, a blue chip is viewed as a stable, secure, and well-organized company.
In the art world, blue chip is considered art of the highest quality.
When it comes to cryptocurrencies, Bitcoin and Ethereum are undoubtedly the blue chips of the market. They have a good track record and they’re not going anywhere.
Blue chip NFTs are:
- Expensive
- Considered a good and safer investment
Investing in blue chip NFTs is not for everyone. Why? Because they are so expensive. However, once you invest in a blue chip NFT, be ready for a huge ROI and tons of exclusive benefits.
While there’s no official list of blue-chip NFTs, the good news is that we don’t use that to decide which NFTs are blue-chip investments.
Track record and trading history are two of the most important factors when investing in NFTs. When a project has dominated the market for some time and the NFTs offer excellent value to holders, we call them Blue Chip NFTs.
NFT blue chip samples.
CryptoPunks
CryptoPunk’s blue chip NFTs.
With 10,000 unique art forms, Cryptopunks is one of the earliest and most expensive NFTs. The project was started by Lava Labs Studio in June 2017. If you’re looking to buy a CryptoPunk for yourself, be prepared to shell out $300,000 to $500,000 for a single piece of art. The project has raised more than $1 million for a single NFT.
Bored Ape Yacht Club
Bored Ape Yacht Club blue chip NFTs.
Again, this is a collection of 10,000 unique Bored Apes. BAYC was launched in April 2021 and is one of the most successful NFT projects. The reason for their success is their exclusive benefits. For example, you will be added to private Discord servers with other celebrities who own these NFTs. Powered by the Ethereum blockchain, BAYC can be called a blue chip project as it is going nowhere.
Well-known celebrities like Justin Bieber and Neymar Jr. own Bored Ape NFTs.
Bored Ape Yacht Club NFTs cost around $250,000 each.
Azuki
Azuki NFT Collection, Blue Chip NFTs.
Azuki is a collection of 10,000 unique anime art forms. At the time of writing, Akuzi’s minimum price is 26.5 ETH. (Minimum price is the minimum price of an NFT in a project)
One way to look at blue chip NFTs is to invest in some of the projects mentioned above. Although this option is relatively safe, it is quite expensive. You have to invest hundreds of thousands of dollars to get in the blue chip game.
Another way to invest in blue chip NFTs is to find future blue chip projects. Those who have been involved with NFT for a while can identify the blue chips of the future, but what about those who are new to the world of NFTs?
How do you identify a blue chip project?
rarity
The rarer an NFT, the more chance it has of being on the blue chip list. There are some rarity tools online that you can use to check how rare an NFT is. If you find a rare NFT project but the NFTs are expensive, buy the cheapest in this collection. (Surely it will be a good investment)
Call
When you find a project with a good reputation, start an NFT project and include it in your future investment. The reason for this is that they already have a good reputation in the crypto space, so they don’t have to prove anything to anyone.
The artist
You may have heard that Beeple sold its NFT collection for $69 million. Try to find the next Beeple. In addition to the art and its rarity, the hype surrounding the artist also determines the price of an NFT.
developer
Developers also play an essential role in turning these ideas into reality. If you are thinking of investing in a blue chip project, always remember to seek out the developers of the project.
Celebrities associated with the project
Celebrities always invest in blue chip projects. If you see a world famous celebrity investing in an NFT project that verifies all of the above, congratulations, you just found a blue chip project.
Another great feature of a blue chip NFT project is a huge, active community. The community connects with each other to plan exclusive projects and make the most of the benefits that come with owning their blue chip NFTs.
Final Thoughts
People want to be sure that their investments are safe and paying off. Before investing in an NFT, make sure the project has all the hallmarks of a blue chip project and if it doesn’t, don’t invest.
Blue chip NFTs are not easy to identify. Some of the most famous are considered blue chips, but are too expensive for at least some. So if you want to invest in a blue chip project, find a project that has the potential to become blue chip and invest.
Frequently Asked Questions (FAQs) about Blue Chip NFTs
What does a blue chip project mean?
A blue chip project means the company has a stable, recognized and established market. Blue chip projects are known as safe investments, which means your investment will grow as well as the track record of previous investments. The word blue chip comes from poker.
What is a blue chip organization?
A blue chip organization is a long-lived business with a stable, profitable future. Established companies like Apple, Facebook and Microsoft are known for their steady growth and strong investment track record.
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