Top NFTs You Should Buy
It's been a couple of years now since the world went NFT-mad, putting bids on that random meme that lives in the recesses of your 15-year-old mind.
But now it's expanded waaaay beyond this, from online games, to profile-picture specific pieces, to buying prestigious artwork that can never actually be hung on the wall to impress your hipster friends.
If you've just woken up from a coma and have no idea what I'm talking about: number one, congratulations, you're a fighter and your family are very proud of you, number two, be sure to check up on our WTF NFTs article. There's some other news stuff about the site, just to get you up to speed with the rest of the world too.
Aptly named a 'community-driven collectibles' NFT project, Doodles boasts a collection of 10,000 sherbet-coloured, candy-flavoured, bubble gum-scented profile picture ready creations.
The project is a stroke of genius from illustrator Burnt Toast. Get it? Because smelling burnt toast is a symptom of a stroke? Heh heh. Heh. Oof, tough crowd.
The collection is run by a trio of big names in the space. Burnt Toast, or as his mum knows him 'Scott Martin', has created art for Google, Snapchat and WhatsApp. He is joined by two ex-Dapper Labs employees who were part of CrytoKitties - Evan Keast and Jordan Castro.
After an exclusive pre-sale, the NFTs were minted out at a price of 0.123 Ethereum. When the public mint went live, gas on the Ethereum network jumped to over 1 ETH per mint, thanks to the high level of interest.
Though, there was a lil bit of backlash, as with all good things. Some interested individuals learnt about the project late, and some public minters disliked the five mint maximum that was offered to presale members. Arguments were made that the number should be lower.
You might be wondering where the 'community-driven' aspect comes in. Well, the team has created a forum for the Doodles community, so they can post their proposals for the roadmap, and give feedback on each idea for consideration. Or as the site puts it: "Holding a Doodle allows you to participate in coordinating the Doodles Community Treasury."
"The road map for Doodles is collaborative and will be decided by Doodle holders. With imaginative ideas, adequate resources and coordination, we believe we can bring Doodles to every vertical of popular culture!"
2. Blockchain-based game Axie Infinity.
Created by Vietnam-based Sky Mavis, Axie Infinity has a bunch of economic opportunities which have drawn in users all over the globe.
And investors are seeing the opportunities, too. Just five months after raising $7.5M in series A funding, they saw a $152M series B, with a valuation of $3B. And it's all thanks to the underlying cryptocurrency system.
Axie uses crypto to support a new kind of video game, where players can earn a meaningful income just by playing. The community holds a financial stake in Axie through the two currencies, which can be used to influence the game's development. so, people are playing, and then going out in the real world with Axie's gaming tokens.
Since its launch, Axies has exploded in popularity, with nearly 2M daily active users.
But what about the NFTs? I hear you ask. Well, Axies are themselves NFTs, with not just an aesthetic value, but with s utility in the game.
Axie is a Pokémon-style game where you use these Axies with various abilities to battle against other players. Users earn tokens by winning a battle, or by selling them on the marketplace. To get an Axie, players have to buy one on the exchange, or breed them from existing Axies.
Beside the AXS token needed to start playing, the game also has SLP, or smooth love potion. Which is also the name of my Jazz Funk album. Players earn SLP when they win a match, and need both tokens to breed their Axies.
Oh, that's right, we're still repping CrytoPunks.
These 10,000 algorithmically generated punks are some of the most expensive NFTs out there, making up 3 out of 5 of the most expensive NFTs ever sold. In fact, an ultra-rare alien punk was sold for $7.58M, and is currently on sale for an out-of-this-world $142.4M.
Even more insane is the "Covid Alien" which is one of nine of these 'alien punks', which sold at Sotheby's for over $11.7M. Well, he is the only one in the series with a mask, so obviously it's a bargain.
The platform has seen nearly $2B worth of transaction volume since its launch, up from £200M in April, and $11,500 in 2017. Now despite their 6 and 7 figure price point, the punks were given out for free at the time of their launch.
Part of the "digital flex" movement, their price and rarity means they've become somewhat of a status symbol. Think a Rolex that you can never wear. Some owners have even started to use their punks as an avatar on social media sites.
Going onto the CryptoPunks website gets you this message:
"CryptoPunks. 10,000 unique collectible characters with proof of ownership stored on the Ethereum blockchain. The project that inspired the modern CryptoArt movement."
"The first "Non-Fungible Token," and inspiration for the Ethereum ERC-721 standard that powers most digital art and collectibles."
So these funky lil guys basically started the NFT revolution. And they're so gosh-darn cute. The nearest thing the internet has to collectable antiques, these simple clumps of pixels go for top dollar.
No two CryptoPunks are alike, each with an Average Sale Price of 14.65Ξ or ($26,539).
<- this Moby looking fella went for a cool $1.05M.
<- This dapper gentleman went for an impressive $1.54M.
<- and this unassuming lil guy went for $7.57M.
4. RTFKT Clone X NFT collection
Formed by three friends at the beginning of the pandemic, RTDKT creates viral sneaker designs, memes and collectable exclusives using the latest in-game engines, NFTs, blockchain authentication, and AR.
Their new NFT collection, however, is self-described as their most ambitious project yet. The Clone X collection is made up of what are basically 3D based NFTs. The buyers will get access to the 3D files where they can forge physicals of their Clone's fit.
The models are functioning in games, such as Fortnite 3D, offering implications for the metaverse.
In mid December 2021, Nike started its foray into the metaverse, announcing that it had acquired RTFKT, looking to utilise the digital sneakers and collectables the company offered.
Following the announcement, secondary sales of RTFKT's Clone X NFTs went a bit mad, with investors looking to get a slice of the virtual pie. The floor price of the collection is currently around 6 ETH, doubling since the news was made public.
5. Pepsi Mic Drop
"Pepsi has always been a brand with a strong heritage in music and pop culture, so it's only fitting for us to bring that legacy into the new world of NFTs with a 'mic drop' of epic proportions," says Todd Kaplan, Vice President of Marketing, Pepsi.
"We created the Pepsi Mic Drop genesis NFT collection for our fans, putting their interests and needs at the forefront by ensuring the NFTs are all free of charge and presented equitably as an inclusive and accessible opportunity for anyone to experience the exciting world of NFTs.
This collectible series of microphones is not only inspired by our history, but also represents the scale and scope of how accessible we see this space becoming in the future."
Announcing their first jump into the world of NFTs, the Pepsi Mic Drop genesis NFT collection offered 1,893 tokens with nearly 50 unique attributes across 6 categories. What makes these different, however, was that the original NFTs were put live onto the Ethereum blockchain for free.
Though the original drop was on December the 10th, the brand are holding back 50 NFTs back from the initial drop, and have yet to reveal why. So keep your eyes peeled.