A “blue chip” company is one that is considered a safe investment in the traditional stock market. A blue chip NFT is one that is well-known, well-established, and stable, as well as a solid long-term investment. Blue chip NFTs are also considered to be a “safer” investment than others, as they have a track record of increasing in value and growth.
Traders and speculators in the NFT market are keen to see which projects will be the industry’s next blue chips. When compared to a more speculative play investing in a blue chip is regarded less hazardous. But in the NFT space rather than being more hazardous, a blue chip has other traits like being known in the space, high floor prices and more transactional volumes.
Factors that investors look at that would determine the value of the NFT are the art, the artist or the brands involved, celebrity endorsements and their communities.
The criteria we utilized to choose the NFT collections listed below as prospective blue chip collections in the future are as follows – potential use cases for NFTs based on the collection’s quality, volume trends in sales and floor prices (past and present).
Bored Ape Yacht Club (BAYC), or often colloquially called Bored Ape, is a non-fungible token (NFT) collection built on the Ethereum blockchain. The collection features profile pictures of cartoon apes that are procedurally generated by an algorithm. The parent company of Bored Ape Yacht Club is Yuga Labs.
Azuki is a digital brand mostly associated with its collection of 10,000 avatars released by a Los Angeles-based group of artists on January 12, 2022. These avatars have unique characteristics based on anime-themed drawing, which has caught the attention of NFT enthusiasts around the world.
Doodles are a collection of 10,000 NFTs (non-fungible tokens) that are made up of hundreds of exciting visual traits designed by Burnt Toast. Hand-drawn Doodles include skellys, cats, aliens, apes and mascots. The Doodles collection also includes dozens of rare heads, costumes, and colorways of the artist’s palette.
CryptoPunks is a non-fungible token collection on the Ethereum blockchain. The project was launched in June 2017 by the Larva Labs studio, a two-person team consisting of Canadian software developers Matt Hall and John Watkinson.
VeeCon is a multi-day event exclusively for NFT holders. Your NFT will give you a three year access pass. The conference will be focused around business, marketing, ideas, creativity, entrepreneurship, innovation, competition and of course, fun.
Cool Cats is a collection of 9,999 randomly generated and stylistically curated NFTs that exist on the Ethereum Blockchain. Cool Cat holders can participate in exclusive events such as NFT claims, raffles, community giveaways, and more. Remember, all cats are cool, but some are cooler than others.
One of the most anticipated projects in the space is The Sandbox, an Ethereum-based video game that lets users own a piece of the world in the form of a non-fungible token (NFT)—and they can use those LAND parcels to develop custom games and locations, and even monetize them.
Imagine a virtual world where people are living an alternate version of themselves. They are buying digital clothes and acquiring digital art in the form of non-fungible tokens (NFTs), using cryptocurrencies as a legitimate form of money. That’s what Decentraland, a virtual real estate platform, is all about.
CloneX is an NFT collection of 20,000 algorithmically-generated 3D characters designed for metaverse interaction. There have been some public statements conveying that traditional art, which once dominated the art world and people’s imaginations, is fading into everyone’s consciousness in the digital age.
World of Women is a community created to embrace representation, diversity, and equal opportunities for everyone in the world of NFTs or Non-Fungible Tokens. World of Women was founded by a group of four friends and since its launch, the WOW platform has scaled up to a 9-member team.
Every day, there are new projects popping up that turn out to be scams. Remember to always DYOR (Do Your Own Research) and don’t trust anonymous teams as they’re anonymous for a reason. Many of them have the above-mentioned red flags. Keep in mind that 1,000+ NFT collections are released every month, and almost all of them will trade for less than their launch price a month or two later.
NFT floor prices that have recently gone up too quickly should be avoided because they usually retrace. Also avoid projects that only talk about their floor prices or saying that they would be the next 100x project out there without focusing on their utility.