The cryptocurrency boom in 2021 spawned a number of new marketplaces. These include digital collectibles and tokens with a limited supply (NFTs). These one-of-a-kind digital products sold for millions of dollars each last year, marking a watershed moment for the industry.
NonFungible.com estimates that NFT revenues will reach $14.4 billion in 2021. The Catastrophe girl meme, which sold for $500,000, and the Beeple NFT, which fetched $69 million at Christie’s, were among the stand-alone pieces of art featured in this sale. Collections of NFTs and initiatives behind the scenes like CryptoPunks, Metaverse Decentraland, or Axie Infinity, were the greatest winners, although the NFTs themselves were not.
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In the year 2021, the most highly sought-after NFT collections will include anything from pixelated avatars to Pokémon-like critters.
1. Crypto Punks
When it comes to establishing the NFT standard itself, CryptoPunks is to be credited as an influence. Pixel-art characters — including humans, zombies, apes, and even aliens – make up the 10,000-item collection. Different traits and accessories differentiate each ‘punk.’
This makes them valuable as collector art because of their rarity and the buyer’s tastes. To provide one example, the CryptoPunks #3100 painting portrays a blue-green extra-terrestrial and was bought for $7.58 million before being relisted for $149,2 million. Christie’s in London has auctioned off a few pieces from this collection, which has little over 3000 owners.
Using Ethereum “flash loans,” a CryptoPunks NFT avatar sold for $500 million in October. However, this year’s highest-priced CryptoPunks sale was #4156, which fetched more over $10 million.
“Fun Fact – There are 24 Ape Punks and 9 AlienPunks and these two categories of CryptoPunks are the rarest in the collection.”
2. Crypto Kitties
CryptoKitties became renowned in December 2017 for clogging up Ethereum’s blockchain and bringing cryptocurrency and cat lovers together online. An early example of using blockchain technology for recreational reasons is the establishment of a game without a clear goal.
As a result, although players own the NFT that represents their cat, they do not own the art that depicts how their cat appears (Axiom Zen). This collection’s creator is reported to have been motivated to create Flow, a solution to Ethereum congestion, as a fortunate side consequence.
“Fun Fact – A total of 4,301.03 ETH was spent on the Top 25 Kitties.“medium.com/@DappClap
3. Bored Ape Yacht Club
There are 10,000 distinct ‘Bored Ape’ NFTs in the Bored Ape Yacht Club NFT collection, all of which are stored on the Ethereum blockchain. Face expressions, fur colour, and accessories vary from ‘ape to ‘ape.’ The Bored Ape Yacht Club, for example, was inspired by the CryptoPunks initiative, which we discussed previously.
As CryptoPunks, each ape’s unique characteristics define its rarity and worth, much like with CryptoPunks.
Due to the fact that their owners sometimes utilize them to represent themselves online or as digital memorabilia, these animals have quickly risen in price, with some rare apes fetching over $1 million at auction. Sotheby’s auctioned Bored Ape #8817 with gold fur for $3.4 million in October.
The Mutant Ape Yacht Club was a bonus offered by the creators of the same project to the NFT’s 5,500+ owners. Mutant Ape NFT may be created by exposing an existing Bored Ape to ‘mutant serum’ vials. There is a cap of 20,000 mutant apes in this new collection, all of which are unique. There are already over 11,000 owners of these mutant apes.
“Fun Fact – The Minimum Entry to Own a Bored Ape NFT is 71 ETH which is approx – $267,000 USD!”
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It’s all about getting ready for a decentralized virtual reality using the Decentraland platform. Users may purchase and develop virtual land plots, create ‘avatars,’ trade digital items they produce, and more in this virtual world built on top of the Ethereum blockchain.
Plots of land on Decentraland were sold for up to $2.43 million in 2021, with the final week of November alone accounting for $15.53 million in sales, as virtual worlds became more popular in 2021.
Decentraland’s primary emphasis, the metaverse, was described by crypto giant Grayscale in November as a trillion-dollar business possibility.
“Fun Fact – There are currently 90,601 individual plots of virtual land in the Decentraland Metaverse”.
5. The Sandbox
This metaverse game is now being tested by a community of players till the end of 2021. 3D (voxels), blockchain, metaverse, and player-created virtual environments are all brought together in the Sandbox.
Players may buy virtual land, develop it, let others use it, and then sell it to recoup their initial outlay of funds. Land, buildings that players have created, and moveable assets that are part of the game are all examples of non-financial tokens (NFTs). New players are likely to join metaverse games, which will lead to an increase in trading possibilities for the NFTs developed along the way.
Snoop Dogg and CozomoMedici, a well-known NFT influencer, recently made headlines after selling a parcel of virtual property for $4.3 million and hosting a VIP performance in the Sandbox virtual world.
“Fun Fact – The Sandbox has raised $93 million from investors led by SoftBank’s Vision Fund 2”
6. Art Blocks Curated
Art Blocks has received submissions from a variety of artists, ranging from 2D pictures to 3D interactives. Innovative work is showcased through a curation board that includes it in the “curated” collection.
In the last four months, 41 of these NFTs had sold for at least a million dollars. For the time being, the items in this collection have no metaverse function and are only sold for their aesthetic value.
Developers of CryptoPunks have launched a new project called Meebits NFT, which provides 3D avatars for usage in virtual world metaverses and in VR applications. The Ethereum blockchain has 20,000 3D voxel Meebits characters. Meebit owners have the option of employing a complete 3D model as an extra asset pack to animate or render their device.
A sought-after character like Meebit #17522, which can be used in the metaverse or in video games, sold in June for the equivalent of $3.7 million. NFT firms like Meta4 have been investing in dozens of NFTs, including Meebits, which has helped to drive up demand even more.
“Fun Fact – Owners of Meebits NFT get a fully animated 3D model of their NFT that they can use in the Metaverse”
8. Cool Cats NFT
Because of its high floor price, Cool Cats is another NFT initiative that was able to successfully test and win the Internet’s love of cats.
In the Cool Cats NFT collection, you’ll find a whopping 9,999 different handpicked goods based on the ‘Blue Cat’ cartoon character. The developer has the option of utilising these cats to ‘breed’ a second generation of cats, with different rarity levels. The most expensive cat ever sold is Cool Cat #1490, which was purchased for $3.5 million.
This NFT collection has no other purpose other being aesthetically pleasing. Holders of Cool Cats may engage in events like NFT claims, community gifts, raffles and so on.
“Fun Fact – Cool Cat #1490 sold for $1.14 Million Dollars”.
9. Axie Infinity
As Dappradar’s number of Axie traders suggests, Axie Infinity has garnered a sizable following in the last year. Despite the fact that it doesn’t call itself an MMO, it is a curious combination between games like Pokémon/CryptoKitties and MMOs like EVE Online.
According to the game’s official description, Axie Infinity revolves about battling dangerous creatures known as “Axies,” gathering NFTs to breed them and owning a kingdom, and ultimately making money by selling their lands and Axies to other players. There are a variety of in-game cash tokens that serve various functions. Token AXS, the most well-known Axie, has grown in value from $1 to more over $100 by 2021.
Only a very small percentage of Axie Infinity’s NFTs are exchanged on third party markets like OpenSea, unlike the 12 other projects listed below. Trade volume on DappRadar is $3.71 billion, with the previous 30 days alone accounting for $725 million, yet Axie Infinity has only transacted a total of $126 million on the biggest NFT platform, OpenSea.
Tokens are ‘burned’ in order to keep the game’s economy going; hence the majority of trading takes place when the player is actually playing the game. Furthermore, transactions have a low average value, indicating that more exchanges are being conducted for the sake of the game itself, rather than for art or investment.
“Fun Fact – You need to Collect a team of 3 Axie NFTs before you can even play the game”.
10. NBA Topshot
NBA Top Shot moments were sold for eye-popping sums this year after a big surge in popularity in early 2021. In a hands-off, capitalistic market, the value of Top Shot Moments may go as high as someone is willing to pay.
Considering these experiences an investment, they’re willing to part with hundreds of thousands, if not hundreds of millions of dollars. The uniqueness and low serial number of a certain moment is often what makes it valuable. The play’s historical relevance as it was documented at the time might also be an important consideration.
A LeBron James dunk from the “From the Top” package was the most expensive Top Shot moment ever sold. It was sold for $210,000 in February 2021, serial number 12 of 59 in existence at the time.
Rarity, serial number, and the content’s historical relevance are the primary drivers of value for Top Shot moments. It is more probable that a single-digit serial number will fetch a greater price than a serial number with a higher number.
There is a lot of chance involved in getting the best profit margins out of a pack, but it’s virtually always the case. In the absence of ripping apart packs, your best choice is to hunt the market for low serial number moments that are currently being sold at a discount.