Emmanuel ChijiokeSome investments in non-fungible tokens (NFTs) have performed even better than cryptocurrencies like Bitcoin (BTC), Ethereum (ETH), and Dogecoin (DOGE) in recent months. Especially, considering the current crypto panic.
Celebrities such as Jimmy Fallon, Jay-Z, and Justin Bieber have purchased NFTs and displayed them on their Twitter profiles, increasing demand for limited-edition tokenized art.
Portrayed as the best current NFT investment, Bored Ape Yacht Club first launched its NFT collection in 2021. The cheapest Bored Ape currently on sale is around $400,000. And not only that, but Apes holders received Mutant Apes and ApeCoin for the mere fact of owning their Apes, which is an extra profit of more than USD 250,000.
Although most NFTs have not shown similar returns, this is an example of how profitable investing in NFTs can be when done right.
Learn more about the NFT craze below and how you can start investing today.
The best NFT projects to invest in 2022
CryptoPunks – Larva Labs
The CryptoPunks was created in 2017 as the 1st non-fungible token project on Ethereum. Each punk was algorithmically generated, and collectibles were limited to 10,000 punks. Human Punks is one of the most common.
There are other species of Punks. Summarily, we have around 9 Alien Punks, 24 Ape Punks, and 88 Zombie Punks. The Alien Punks have fetched over $10 million at auction.
Axie Infinity – Biggest Volume of 2021
Axies are the creatures used to play the popular blockchain-based game Axie Infinity. 3 Axies are required to play the game, so as the platform attracts more users the price of Axies will naturally increase. Axies vary in price based on their attributes, but today you can pick one up for around $200.
Bored Ape Yacht Club – Yuga Labs
Bored Ape Yacht Club bears plenty of similarities with CryptoPunks in that these NFTs are commonly used online as avatars. The project features cartoon apes that have different attributes and rarities, with the cheapest apes costing around 140 ETH ($400,000).
Just a few months ago, you could get an Ape for around 1 ETH, making this project one of the fastest appreciating NFT collectibles in the industry. Since its inception, BAYC has airdropped Bored Ape Kennel Club (BAKC) and Mutant Ape Yacht Club (MAYC) tokens, which have accumulated minimum prices of 10 ETH and 40 ETH, respectively.
Bored Ape Yacht Club also hosts exclusive events like a private concert for token holders.
Meebits – Larva Labs
Meebits was released by Larva Labs (the same company that made CryptoPunks). At the time of its launch, Meebits was selling for around 2.4 ETH. Today, prices range from 5 ETH to hundreds of ETH, depending on the rarity of the Meebit.
Meebits are meant to be used in the metaverse as they are three-dimensional characters that can be used in open-world blockchain applications.
Proof of Beauty Studios
Proof of Beauty is an innovative NFT project. Its focus is on documentation and celebrating the Ethereum blockchain. Proof of Beauty’s first series of NFTs, HASH, allows users to take personal and historical transactions from the blockchain and turn them into beautiful NFT works of art.
From Vitalik’s first transaction on Ethereum to Jay Z’s Cryptopunk purchase, the Proof of Beauty algorithm integrates transaction metadata into palettes of colors, shapes, and textures.
Metaverse Land NFT
Virtual Reality Land is a unique way to invest in NFTs. The 2 most robust VR ecosystems where you can buy and sell land are Decentraland and The Sandbox.
These platforms allow you to monetize your land through the development of your real estate, and some investors have made NFT casinos, amusement parks, and museums to monetize their land. Others simply buy this virtual reality land as a speculative investment to sell later.
Avalanche (AVAX)
We add to our list of the best NFTs to invest in 2022 with Avalanche. It is an open-source decentralized blockchain, which can be used for Smart contracts.
Avalanche owns its own transaction token called AVAX, which has a capitalization of over $20 billion according to CoinMarketCap.
Launched in September 2020, Avalanche makes it possible to exchange Smart Contracts and NFT-related services securely and quickly. The NFT exchange platform, called DEX, is recognized among the best of the moment for its quality, security, and reliability. Additionally, Avalanche has implemented the ability to create tokens extremely quickly.
When it went public in 2020, the token was worth $4.6 US dollars. Since February 2021 it has had an impressive bull run, to the point that at the time of writing these lines it is trading above 80 USD! Such a gain of more than 1,000 percent has given huge returns to those who bought the token as soon as it came on the market and knew how to hold onto it until the best time to sell.
Mutant Ape Yacht Club – Yuga Labs
The Mutant Ape Yacht Club is the follow-up to Yuga Labs’ huge success, the Bored Ape Yacht Club. While Bored Apes are snapped up by celebrities and venture capitalists, Mutant Apes offers a more affordable way to access the same network.
There are a total of 20,000 mutants, including a handful of “Mega Mutants” with prices as low as 3,000 ETH ($9 million). The Mutant Apes were made available via airdrop to Club holders of the Bored Ape Yacht.
The 30,000 apes (boring and mutant) also got early access to Adidas’s “Into the Metaverse” NFT project, which is currently trading at more than 5 times the retail price. This club is worth being a member of, and investors see the value of MAYC with a minimum price of around 35 ETH ($100,000).
Why is it a good idea to invest in the best NFTs?
Well, mainly, for three reasons that we will describe:
- It is a sector of enormous current growth: the demand for NFTs is currently very high, in different industries and professions. This is reflected in the prices of the best tokens, which are constantly rising.
- They are consistent digital projects: several cryptocurrencies operate in the NFT market that is famous for their stability and validity over time.
- Availability of access to the asset: NFTs are becoming increasingly popular and can be found for purchase at more and more brokers.
The coveted NFTs are selling for big money. At the time of writing, the cheapest CryptoPunk you can get will set you back around 75 ETH, and the cheapest Bored Ape Yacht Club around 100 ETH.
These are the cheapest prices on the market. And if you want an Alien or Ape Punk, you’ll need about 2,000 ETH (about $6 million).
With prices this high, it’s hard not to recognize the possibility of these NFT collections as the next big thing in entertainment. With hundreds of millions of dollars in backing, projects like the Bored Ape Yacht Club can host exclusive yacht parties, private concerts, and much more for Ape owners.
Additionally, owners have intellectual property rights to their Apes, and companies such as Happy Dad Hard Seltzer and Diamond Supply Co. have purchased Apes for use in their brands.
It is important to do your own research before investing in an NFT. These projects can be difficult to value, and many NFTs are illiquid, meaning you may have a hard time selling your collectible in the future. No doubt many NFT projects will fail, leaving investors with a worthless JPEG.
How to invest in NFTs
The best platform to buy your non-fungible tokens NFTs is at OpenSea. This is an NFT market with one of the largest numbers of non-fungible tokens for sale. You can purchase all of the NFTs listed in this article through the OpenSea platform.
To use OpenSea, you will need to operate an Ethereum wallet and tokens. The best Ethereum wallet that is recommended for use with OpenSea is the MetaMask.
It’s easy to set up through any good browser app like Google Chrome; easily connects to websites through your Chrome browser. If you don’t already have a cryptocurrency exchange account, you will need to make one buy Ethereum.
Cryptocurrency exchanges for Ethereum
Since Ethereum is the most widely used currency to invest in NFTs, you will need to purchase some from a cryptocurrency exchange. Some popular, most secure, and robust exchanges that support Ethereum include Coinbase and Gemini. Find out about Ethereum nfts projects.
Cryptocurrency price movements
From what we have seen so far, NFTs tend to appreciate when the volatility of the cryptocurrency decreases. Since non-fungible tokens are bought with Ethereum, investors want to be exposed to ETH when the price appreciates, so some sell their NFTs to regain exposure.
Conversely, when ETH goes down, NFT prices typically go up in Ethereum terms, as most investors today care more about the dollar value of their investment.
How to store your NFTs safely
If you decide to invest a significant sum of money in CryptoPunk, Meebit, or other NFTs, you should consider a secure storage solution for your tokens.
While MetaMask is generally considered safe, people have had their accounts hacked because the wallet is connected to the Internet.
A hardware wallet is a solution to this problem. Hardware wallets store thousands of cryptocurrencies, including non-fungible tokens. An example of such is the Ledger Nano S. These devices store your cryptocurrency offline, making it impossible for your funds to be stolen over the Internet.
The future of non-fungible tokens (NFTs)
Many human beings are obviously drawn to flaunting their wealth, be it through expensive watches, exotic cars, or NFTs. Non-fungible tokens offer a novel way to verify the authenticity of rare and expensive items, making it easy for everyone to know that you’ve spent thousands of dollars on a JPEG.
Remarkable projects are likely to survive in the long run, but there is clearly a lot of hype around NFTs right now.
If you plan to invest in NFTs, make sure you do your own research and only invest what you can afford to lose.
Final notes
We have concluded this review on the best NFTs to invest in. Without a doubt, we are talking about technology with very high demand, where new, solid, interesting, and attractive projects arise all the time, which makes both players and investors keep an eye on the news.
We invite you to learn about each of these recommended NFTs through our articles. Remember that to invest in NFT make sure your bank with services that operate under the regulation of International control bodies and offer you a large number of competitive advantages in service and price.
David GRANT
Emmanuel Chijioke
