- Blue-chip NFTs are high-value NFTs in the market.
- They have distinctive traits and limited quantities, which increase their value.
- Artists and creators take a lot of interest in NFTs, which also increases their value in the market.
Blue-chip NFTs are high-value holders in the marketplace because of their reputation, potential, and qualities. There is high mass adoption of these NFTs as they are created and advertised by very famous artists and creators. There are many examples of NFT collections that are blue-chip and have unique features.
What Are Blue-Chip NFTs?
Blue-chip NFTs (non-fungible tokens) are the NFTs that hold the best values and are considered important in the marketplace. These are known for their quality, potential for long-term value appreciation, and reputation. The features of blue-chip NFTs are;
- Rare and exclusive
These have distinctive traits and limited quantities, which are helping them boost their worth.
- Community demand
These are usually large and active, and hence, the community demand is high as well.
- Iconic collectibles
Some are sentimental or historical. For example, iconic artifacts and rare physical art in digital form
- Historical and cultural importance
An NFT is a blue-chip NFT, which may be due to its historical or cultural significance.
- Famous artists and creators
These are often featured artists, creators, and businesses whose NFTs are more appealing and credible due to their track record of adoption.
- Utility
NFT projects with practical utilities will be favored in auctions and sales. The NFT utility includes access to early releases, loyalty rewards, access to physical products, event tickets, and access to airdrops.
Some examples of NFT collections that are considered blue-chip are Bored Ape Yacht Club (BAYC, which has diverse accessories, features, and backgrounds), Azuki, DeGods, Art Blocks, NBA Top Shot (an officially licensed NFT platform), CryptoPunks (the earliest and most iconic NFT project), and CryptoKitties (a collectible NFT project).
The steps to investing in blue-chip NFTs are to first educate and research reputable NFT platforms, then choose a cryptocurrency wallet. Then create an account on a reputable NFT platform, followed by conducting due diligence on blue-chip NFTs. Purchase and store NFTs in your wallet and then stay informed about market trends.
Strategies To Find Blue-Chip NFTs
Strategies to find blue-chip NFTs include researching established platforms, following NFT specialists and influencers, considering rarity and demand, and tracking notable collaborations and artists.
- Research established platforms
The platforms created by well-known artists, brands, and celebrities such as Rarible, OpenSea, SuperRare, etc. need to be researched.
- Follow NFT specialists and influencers
Influencers, specialists, and collectors should be followed to keep up with the NFT market.
- Rarity and demand
Focus on limited-edition, rare and culturally significant NFTs.
- Participating in NFT auctions and drops
Blue-chip NFTs can be potentially obtained after the original release or by bidding.
- Analyzing historical data
Prior sales, market trends and the performance of specific NFT collections need to be analyzed.
Conclusion
Hence, investing in blue-chip NFTs is a good decision because of the high demand and market value of these NFTs. They hold unique features, from rarity and demand to utility, which can be beneficial for investors and users. Artists and creators take a lot of interest in NFTs, which is increasing the mass adoption of some NFTs.
