Dive into the NFT projects that have taken hold in the space
Blue-chip art is among the most wanted in the industry, and the same goes up for NFT collections. The Web3 community refers to blue-chip NFT collections as the ones that are most wanted, and generally experience the least value fluctuations. However, Web3 comes with lots of price volatility, and therefore we just not consider a blue-chip traditional artwork equal to a blue-chip NFT collection.
Navigating the NFT space requires being up-to-date and knowledgeable about the most prominent projects. But while new collections rise to the top and disappear within weeks, there are also the blue-chip NFT collections. These, on the other hand, demonstrate characteristics that differentiate them in the market and therefore are highly valued.
- What is a blue-chip NFT Collection?
- What makes an NFT collection blue-chip?
- Top blue-chip NFT collections to know about
- Other NFT collections with relevant growth in 2023
- Why are NFTs so popular?
- NFT trading volume vs. number of sales
- Discover top NFTs with DappRadar
What is a blue-chip NFT collection?
Traditionally linked to the art and stock market, blue-chip investments are those of established big names in the market. In other words, financially sound businesses that have recorded consistent earnings despite the general state of the market.
Translate this to Web3, and then blue-chip NFT collections are those projects that have demonstrated a high and stable market value over the not-so-long trajectory of the NFT market. However, price volatility still is part of the game in Web3, and therefore the ‘blue-chip’ label should be taken with a pinch of salt.
The article below does not constitute investment advice. The information given here is purely for informational purposes only. Please exercise due diligence and do your own research.
What makes an NFT collection blue-chip?
Even though the NFT industry isn’t exactly ancient and everything moves so fast, some collections have shown greater stability. In the case of these investments, they are blue-chipped because they are the most stable in an industry that is – as we all know – incredibly volatile.
But what exactly makes it blue-chip? Take a look at a few criteria below:
- The blue-chip NFT collections have a long-term value proposition;
- The team behind the project has a solid and reputable presence in the industry;
- There’s a clear use case for the tokens that goes beyond speculation;
- And finally, they have a passionate community built around them.
So when you’re on the hunt for this type of NFT opportunity, this is what you can look for.
Top blue-chip NFT collections to know about
Now that we know how to identify blue-chip NFT collections, it’s time to get to know some of the most prominent projects in the space. Here are 10 projects you should be aware of:
1. Bored Ape Yacht Club
The Bored Ape Yacht Club is a collection of 10,000 Bored Ape NFTs on the Ethereum blockchain, generatively created and very valuable in and out of web3. At the time of writing, this collection’s floor price stood at $78,940 and had a total market cap of over $1.59 billion.
BAYC has been among the top 5 NFT collections on DappRadar’s rankings for many months. Besides being the flagship project of the all-star studio Yuga Labs, this collection started a whole universe that dictates many rules in the NFT space. Some of its main sister projects include:
CryptoPunks is the one of the first NFT projects on Ethereum and remains to this day one of the most popular ones out there. Everyone in the space has heard about them.
Launched in mid-2017, CryptoPunks includes over 10,000 unique digital avatars that serve as inspiration for the ERC-721 standard everywhere.
- Read also: What are CryptoPunks: A Simple Explanation
3. Art Blocks
The project includes a wide variety of generative digital art, from abstract to more traditional pieces. Sales of these first peaked in August 2021, and NFTs were sold for millions of dollars. In addition to the potential for stability, the project is eye candy for many generative art lovers.
Other NFT collections with relevant growth in 2023
Despite the list above holding some of the biggest names in NFT history, things change fast within this industry, and other collections also deserve your attention. In 2023, some projects have been growing steadily and with strength. These are important factors as growing fast may mean it will fade fast.
- Pudgy Penguins: The cute collection got even more hyped in 2023 with its launch of real-world Pudgy toys.
- DeGods: Originally build on Solana, this PFP NFT collection is partially on Bitcoin.
- Azuki, a PFP NFT collection that rose to public attention in January 2022, has been blessed with a loyal community.
- Clone X, the 20,000 next-gen Avatars of the RTFKT Studios Clone X NFT collection were a huge promise of the space even before its launch in late 2021.
- Doodles is a colorful and community-driven NFT collection that is one of the most popular projects and with the highest sales volume.
Why are NFTs so popular?
NFTs have become extremely popular in recent years for a variety of reasons. First and foremost, they offer collectors and investors a new way to invest in digital assets.
They are also unique and cannot be replicated, which makes them more valuable than traditional digital assets like cryptocurrencies.
Finally, NFTs are often associated with famous brands or artists, which adds to their collectability.
Discover top NFT collections
If you want to stay updated about the current state of your favorite blue-chip NFT collections, you’ll love the DappRadar tools. Start with the NFT Rankings, where you can discover new and upcoming collections and trace most projects across all blockchain networks tracked by DappRadar.