Finxpd
    Facebook Twitter Instagram
    Finxpd
    • Home
    • Education
      • Cryptocurrencies
      • Stocks
      • Forex
      • Commodities
      • Economies
      • Investing
      • Technologies
      • Career Planning
    • Financial
      • Credit cards
      • Banking
      • Insurances
      • Retirement Planning
      • Taxes
      • Brokers
      • Regulations
      • Funds & Loans
    • Reviews
      • Popular Brokers
      • Popular Savings Accounts
      • Popular Credit Cards
      • Popular Personal Loans
      • Popular Student Loans
      • Popular Stocks
      • Popular Low Spread Brokers
      • Popular Insurances
    • Comparison
      • Broker
      • Stock Investment
      • Cryptocurrency Exchanges
      • Financial Advisors
    • About us
    • Contact
    Finxpd
    Home » Blue Chip NFT: Full of The Things You Should Know
    Blue Chip NFT
    Education

    Blue Chip NFT: Full of The Things You Should Know

    August 3, 2022Updated:October 25, 20225 Mins Read55 Views
    Share
    Twitter LinkedIn

    By discovering the broad field of NFTs, you may come across the word “blue chip” reasonably frequently. Moreover, if you are an NFT collector or investor, you should understand what a blue chip NFT is and why they are so valuable. However, this may confuse you if you are a beginner in NFTs. Thus, this article will clarify what a blue chip NFT is and why they are significant. It will be beneficial if you plan to invest in NFTs in the long run.

    List of Contents

    • Understanding Blue Chip NFT
    • Is There Anything Special About a Blue Chip NFT Project?
      • The Public Image of NFT Creators
      • The Blue Chip NFTs’ Identification
      • The NFT Project’s Utility
    • Examples of Blue Chip NFT Projects
      • Crypto Punk
      • Bored Ape Yacht Club
      • Doodles

    Understanding Blue Chip NFT

    Blue Chip NFT: Full of The Things You Should Know

    Genuinely, the word “blue chip NFT” comes from physical finance. The term “blue chip” may be traced back to poker. The chips in three-color poker sets are commonly red, green, and blue. This blue chip has the most value throughout the game compared to other colors. 

    As for blue chips, stock, bonds, or other assets in the real world it is one in which you can invest for the long run. This is because you will continue receiving consistent investment returns for many years. Similarly, blue chip NFT refers to a non-fungible token in which you may invest with confidence. This is because the attractiveness or value of the NFT will not soon disappear among blockchain users. Instead, it will only get worse with time. 

    Blue chip NFTs are those that have the potential to provide long-term returns on investment. If someone invests in these NFT projects, they will most likely earn considerably if they sell them in the future.


    Is There Anything Special About a Blue Chip NFT Project?

    Blue Chip NFT: Full of The Things You Should Know

    Several characteristics and measures may be used to assess if an NFT project is among the most significant blue-chip NFT projects. The following characteristics are examples.

    The Public Image of NFT Creators

    Blue Chip NFT could well be identified to a large part by assessing the developer’s reputation. It helps to boost the team’s credibility if the developer has a track record of past job experience or collaboration with prominent corporations such as Microsoft. The improved trustworthiness of the developer team defines the NFT project’s followership to a large extent.

    The Blue Chip NFTs’ Identification

    The brand’s identity is a significant indicator that may be utilized to identify the blue-chip NFT. Establishing a project early on in every business helps define the brand’s identity before competition becomes fierce. As a result, the early establishment acts as leverage to obtain the necessary exposure that generates vast followership. For example, if an NFT initiative launches early in the NFT area, one characteristic that determines its identity in the developing business is its inventive drive. It contributes to the project’s reputation as a leader.

    The NFT Project’s Utility

    A well-planned NFT project provides a clear roadmap that defines the stages of the NFT project. As a result, this is one crucial criterion that a project must pass to be recognized as a blue-chip NFT. The projected utility is an essential idea that should be incorporated into the roadmap. It provides investors with a straightforward and valuable reward. If an NFT project is clear about what benefit it intends to offer and how it wants to reward holders, it has passed one of the three conditions that classify it as a blue chip NFT project.


    Examples of Blue Chip NFT Projects

    Crypto Punk

    Blue Chip NFT: Full of The Things You Should Know

    The NFT project CryptoPunks was among the first to be a success. CryptoPunks was released in 2017 by the two-person development team Larva Labs. Not only does it have one of the largest collections of NFT characters (10,000), but it also happens to be one of the most significant collections of its kind. Christie’s and Sotheby’s have both auctioned off some of these NFTs.

    Many of the CryptoPunks in this NFT set can be purchased for six figures, making it another expensive collection. Compared to other blue chips, CryptoPunks NFTs have a more extended history of success. They have been around longer than most collections, and their sales volume consistently places them in the top spots.

    Bored Ape Yacht Club

    Blue Chip NFT: Full of The Things You Should Know

    Those who purchase a membership to the Bored Ape Yacht Club, a virtual zoo housing 10,000 anthropomorphic apes, gain access to a private social networking platform. They sold in April 2021 for 0.08 ETH (about $190) each. Over a billion dollars were made in sales within a year, they were a hit with A-listers, and individual pieces routinely fetched hundreds of thousands of dollars.

    Though arguably the most popular NFT brand, Bored Ape NFTs are priced out of the reach of most investors. Yuga Labs, the company behind Bored Ape Yacht Club, aims to create a media empire with its NFTs and has raised $450 million in funding at a $4 billion valuation. Other popular NFT collections, such as Mutant Ape Yacht Club, have also been released.

    Doodles

    Blue Chip NFT: Full of The Things You Should Know

    Doodle is a Burnt Toast creation that features 10,000 NFTs with various recognizable visual traits. Doodle collects unusual heads, elaborate costumes, and the full range of colors available to an artist. And just like the Space Doodle, Doodle offers its collectors something genuinely unique. Doodle bank is a collection community bank with nearly $5 million in assets.


    To conclude, the term “Blue Chip NFTs” is likely to appear more than once when examining the dynamic and multifaceted world of NFTs. That is comprehensible, considering that some development teams are attempting to sell their NFT project as a reliable investment vehicle guaranteed to generate cash after a long-term investment. However, the caution remains that NFT fans and prospective investors should investigate NFT initiatives carefully to ensure they are not a rug-pull fraud.


    Related Articles:

    • NFT: A Must-Know Innovative Investment
    • NFTs Gas Fees: The Basis Need for Ethereum’s Transactions

    Read more: Cryptocurrencies

    Sources: Cyberscrilla

    Cryptocurrencies
    Share. Twitter LinkedIn

    Related Posts

    Dark Pools: Interesting Facts You Should Know

    January 26, 2023

    7 Best Growth ETFs to Buy for 2023

    January 25, 2023

    9 Easy Ways to Reduce Overhead Costs

    January 23, 2023

    Overhead Costs: An Important Cost Representing the Firm’s Expenses

    January 16, 2023
    POPULAR

    Yield Farming VS Staking: Which Is the Better Long-Term Investment?

    June 23, 2022

    The Differences between Investment and Speculation Investors Must Know

    June 8, 2022

    What is Cryptocurrency? (New Edition 2022)

    June 7, 2022
    Risk Disclaimer: Finxpd will not be held liable for any loss or damage resulting from reliance on the information contained within this website including market news, analysis, trading signals and Forex broker reviews. The data contained in this website is not necessarily real-time nor accurate, and analyses are the opinions of the author and do not represent the recommendations of Finxpd or its employees.

    Currency trading on margin involves high risk, and is not suitable for all investors. As a leveraged product losses are able to exceed initial deposits and capital is at risk. Before deciding to trade Forex or any other financial instrument you should carefully consider your investment objectives, level of experience, and risk appetite. We work hard to offer you valuable information about all of the brokers that we review.

    Menu
    • Home
    • Education
    • Financial
    • Reviews
    • About us
    Top Insights
    Good APR for a Credit Card: The Important Thing to Know before Applying
    January 31, 2023
    Nationwide Pet Insurance Review : One of America’s Oldest and Largest
    January 27, 2023
    Twitter LinkedIn YouTube TikTok
    • Home
    • Education
    • Financial
    • Reviews
    • About us
    Copyright © Finxpd 2023. All Rights Reserved

    Type above and press Enter to search. Press Esc to cancel.