- Are you looking to invest in NFTs?
- Do you know that non-fungible tokens were the most remembered trend in 2021?
- How can you generate revenue from these assets?
In the current climate, NFTs are becoming increasingly popular and beneficial. As NFTs have grown in the past year, specifically in 2021, the economy has experienced an unprecedented boom.
According to the industry’s total global market revenue, NFTs generated $41 billion in 2021. In 2021, the global market revenue reached nearly $41 billion. This trajectory looks set to continue for investors and creators alike, with more opportunities and growth. We will look at some of the most popular NFT projects in 2022 and beyond.
Best NFT projects to watch right now
Several trends dominated last year, including the DeFi trend, which first emerged in 2020, and the Metaverse trend, which marked the year’s end. Despite this, if there is any trend that will achieve maximum attention in 2022, it will be non-fungible tokens.
The year 2021 was fantastic for the non-fungible token market. Technology like NFT has gained widespread adoption, which has resulted in many exploding projects.
There will be further growth in the market this year. Therefore, in 2022, the following NFTs may be among the most important.
How much would you earn if you invested in such projects one year ago?
There has been a significant increase in the number of items turned into NFTs over the last year. There was an NFT for everything from Jack Dorsey’s first tweet to the world’s comprehensive web source code.
However, some people are unclear why these intangible assets have become highly popular. In March, the NFT sold for a record $69 million at a Christie’s auction by South Carolina-based designer Beeple, whose real name is Mike Winkelmann.
According to figures published Tuesday by market tracker DappRadar, cryptocurrency sales in 2021 reached $25 billion due to the popularity of speculative NFTs. Coca-Cola and Gucci are two world-renowned companies that have sold NFTs.
The Sandbox (SAND)
The Sandbox is a project that has been around since 2011. It is blockchain-based technology and lets users create, sell, buy, and build digital assets using a game.
SAND is another gaming project but not as extensive as Axie Infinity. You can play no single game; instead, you can play multiple community-made games or even create your own.
Playing these games and collecting blockchain-based assets, such as NFTs, is possible within The Sandbox’s universe. In turn, you can keep the assets, use them in games, or sell them on the market for a decent profit.
Why does it have the potential to grow?
Sandbox’s goal is to empower gamers by allowing them to be actual owners of the games they purchase. Furthermore, they can keep assets they accumulate while playing the game, unlike the modern gaming industry, which can take everything away with a simple button press.
Mutant Ape Yacht Club
The Mutant Ape Yacht Club collection is one of Yuga Labst’s Bored Ape Yacht Club NFT projects. As well as, it provides a way for people to enter the Bored Ape ecosystem at a lower price point.
This project rewards holders of the Bored Ape Yacht Club collection. The Mutant Serum Project began in August 2021 when the Bored Ape Yacht Club members were airdropped with the serums.
Mutant serums of these animals could be used to create new Mutant Apes, and these serums burn when used to create the mutants. This Mutant Ape develops from an original Bored Ape that was unharmed during the production process. There are 20,000 mutant apes in the Mutant Ape Yacht Club.
Why does it have the potential to grow?
A variety of factors may contribute to Mutant Apes’ success in 2022. First, this collection belongs to the top NFT collections in the world. It may have the most engaged community. A Mutant Ape grants you access to a community exclusive to its owners.
Axie Infinity (AXS)
Axie Infinity is a play-to-earn Metaverse game. It provides players with cryptocurrency tokens in exchange for their gameplay. It can then be exchanged for other currencies on exchanges.
In the game’s Metaverse, players trade, battle, and collect NFT characters called Axies. To begin playing, new players must purchase three Axies. Axies’ price has risen significantly due to their popularity, so owners have started lending those tokens to new players to earn tokens on their behalf, which they then share.
Why does it have the potential to grow?
Axie Infinity develops on top of the Ethereum blockchain. Still, as the game’s popularity grew, the development team created the Ronin sidechain to reduce fees and speed up transaction times.
Two cryptocurrencies are the Axie Infinity:
- The Axie Infinity shard (AXS)
- The smooth love potion (SLP)
As the game Metaverse evolves, AXS token holders will have the opportunity to vote on its development, using SLP tokens to breed new Axies.
By staking their AXS tokens, holders can earn rewards. You can also make tokens by playing the Metaverse.
Illuvium (ILV)
The open-world RPG blockchain ILLUVIUM was launched this year based on Ethereum. A play-to-earn AAA blockchain game, it’s the first of its kind out there. It looks great.
Illuvials are creatures that players catch and defeat around the world. As you progress through the game, you will collect those items and use them to defeat other players.
Often, players collect these Illuvials, which each have a particular class, affinities, advantages, and disadvantages. In every victory, the Illuvials gain more power.
Why does it have the potential to grow?
Illuvium’s Ethereum ERC-20 project has two altcoins:
- Illuvium (ILV)
- SILV
By holding ILV tokens, token holders can participate in governance, mine liquidity, and gain rewards.
Here comes the role of NFTs. Illuvium represents each in-game item and each Illuvial with NFTs. You can also trade these items in an external marketplace for NFTs.
Meebits
Meebits are 3D voxel characters on the Ethereum Blockchain, formed via a custom algorithm. ERC-721 contracts own them, and they work with all Ethereum-based marketplaces and services.
Meebit came out of Larva Labs, and its future has been bright and promising. NFTs are virtual versions of 3D voxel characters that can be customized, rendered in 3D, and exchanged quickly through marketplaces.
Why does it have the potential to grow?
Meebits circulate in limited quantities; they are incredibly abundant and in circulation almost twice as much as CryptoPunks. Nevertheless, the level of rarity and uniqueness still drives the sales.
In the same way as Crypto Punks, Meebits is a decentralized NFT project with no fees. Transparency and flexibility are critical aspects of these NFTs, which would make them ideal for future NFT projects.
Final thoughts
NFTs are already a huge market, and the chances are they will only continue to grow as time progresses. Therefore, it might be ideal to enter the NFT sector and engage with some of the most promising projects. You can either choose one of the projects we mentioned or do your research to find another project even more appealing. You have a lot of options to choose from.