There are over millions of NFTs (non fungible tokens) for sale and it looks like thousands more are going to get launched daily. Tracing the roadmap we have made a list of the top 10 NFT projects to invest this year.
It is highly advised that you do complete research on the aim and functionality of NFT before you decide to invest. You are not required to be a seasoned investor to jump into the space of crypto tokens, but it is certainly something you should never opt for without first doing your homework.
Popularity And Practicality Of NFT Projects
Even though the NFT space is still evolving, there are more than enough NFT projects to invest in the market that are bound to receive more attractions this year. The idea of non fungible tokens dates back to 2015, but presently there are numerous opportunities and instances related to the market.
It would be justified to state that the NFT frenzy is far from over. In fact, crypto experts think that the NFT revolution has just begun and will result in more adoption of the blockchain technology. After all, NFT provides complete art ownership to the people that generally only individuals with wealth can possess.
The most attractive and exciting NFT project this year will prioritize selling exclusive and limited items. From art collectibles to digital art to music to trading cards, there is huge attraction in the market. So without any further delay let us have a look at the top 10 NFT projects to invest in.
Top 10 NFT Projects To Invest This Year
In 2021, NFT emerged to its latest heights and managed to draw mainstream attention. This year it makes sense why so many investors and enthusiasts of crypto wish to be a part of the NFT revolution. Technically, NFT can be used to validate authentication and distribute assets via the blockchain. It is a latest paradigm where the rule of NFT and operate on smart contracts. With that let us have a look at the top 10 NFT projects to invest in this year. This will also include some of the upcoming NFT projects 2022.
This is the top NFT project for 2022. CryptoPunks is debatably the most popular and best NFT project to invest in 2022. It arrives with an extensive section of 10,000 punk characters that are computer-generated. But every punk has its own characteristics and personality, and the distinction of every character enables you to quantify the value of the collectibles. The launch of CryptoPunks was a great success. Along with that, this NFT project had the highest value and was sold for 124,457 Ether, that accounted for $532 million.
Proof of Beauty
The second NFT project to invest in is Proof of Beauty. This is another splendid NFT project that documents the Ethereum blockchain history. The concept behind Proof of Beauty is to champion and celebrate Ethereum blockchain history and create more awareness. HASH is the primary round of the NFT series by Proof of Beauty. It enables you to change your blockchain transactions into amazing NFT artworks.
Most notably, this NFT project has been the source algorithm that made CryptoPunk purchase by Jay Z feasible. In layman’s terms, this project integrated transactions and changed them into great textures, shapes, and color combinations.
Virtual Reality Land
Virtual Reality Land or VRL is a unique NFT project. In respect to investing in NFTs, Decentraland is at the top of the NFT project list. Here, users can monetize any portion of land via real estate development. The potential and appeal of VRL prevail to develop in the NFT space. In fact, many investors created NFT museums, amusement parks, and casinos to monetize their land. On the contrary, VRL also operates as a speculative investment that can be sold by the investors later.
As the name suggests, Decentraland operates as a decentralized virtual reality space via Ethereum blockchain. It enables users to monetize and curate content and applications. With Decentraland, users can trade unique digital collectibles, purchase virtual plots, form custom avatars, and many more. So this is undoubtedly one of the best NFT projects 2022.
Flow was launched in 2020 and it has become a playground in the NFT space. In fact, this NFT project has become a hub to construct a latest generation of apps, games, and virtual collectible items. Flow operates on a single layer of blockchain technology that has been the basis of many consumer-based blockchain apps. From Dapper Wallet to Top Shot, Flow provides its developers an opportunity to construct and trade a specific NFT.
The Codex Project
This is another decentralized blockchain-based name registry to verify and authenticate NFTs. This platform has made it convenient for NFT formulators to design a collectible record that can move in the digital realm. This protocol enables potential purchasers to authenticate the identity and assure ownership history via Codex Viewer. It is a simple process that offers NFT collectors more confidence to buy authentic products.
Top Shot of NBA is a custom blockchain-based application that helps the trading of collectible items. Top Shot is among all those NFT projects that created NFTs mainstream in 2021. Since its launch, the blockchain-supported app has become effective for trading varied collectibles. And instead of Ether, the Top Shot application is constructed with Flow blockchain. NFTs on the Top Shot app have memorable game moments and video plays similar to play statistics and trading history.
Ethereum Name Services
Ethereum Name Services or ENS is a domain-naming NFT channel. Users can choose non-fungible domain names and combine with NFT marketplaces such as Rarible. With ENS, you can also get any type of token, cryptocurrency, or non fungible token to the domain name. It is a great way to release decentralized, private, and secure websites. In fact, more than 238,000 domain names prevail on the ENS platform already.
Axie Infinity has emerged as one of the most successful NFT projects to invest in. In fact, this project carved the way to create the play-to-earn NFT structures using the latest standard. But unlike other equal NFT projects, Axie Infinity is easier and revolves near “how” efficiently players collect wars and breed Axies or creatures. These Axies are non fungible tokens that you can profit from or you can continue to play to receive more tokens.
EQIFI is a DeFi (decentralized finance) project that enables users to invest, borrow, and lend in ERC-20, ETH, and also in fiat currencies. Despite a decentralized platform, this project has a dedicated bank to allow users to receive complete access to its items, like credit cards and multi-currency accounts. With EQIFI, the democratization of banking services is shifting in the right direction.
The Bottom Line
NFT auctions will prevail to get more attraction and make the adoption of blockchain more mainstream. In fact, the future of NFT will propel more development in the DeFi area. As a result, it would create rare collectibles and acceptable art objects more valuable.
Along with that, virtual artists now have the chance to sell their NFT collections on a broad range of platforms. The present momentum of the NFT market points at exponential development. Every project brings something latest and will play an important role in growing the NFT market for years to come. So the above stated names are ideal NFT projects to invest in now.