When American artist Beeple’s piece, Everydays: The First 5000 Days, sold for US$69 million in March 2021, NFTs, short for non-fungible tokens, grabbed news. The most prominent NFT initiatives have attracted more people to invest in the metaverse due to the excessive amounts being spent on digital assets.
Here are five notable NFT initiatives to keep an eye on in 2022:
CryptoPunks was one of the first Ethereum projects to use a non-fungible token. They were created algorithmically and feature a collection of 10,000 unique collectible tokens, according to Larva Labs, who launched them in 2017. In order to build this collection, the company worked with two Canadian software engineers.
This NFT project’s characters resemble pixelated punks that may be bought, sold, or bid on. Punks, the most prevalent type, are included in the collection. In addition to the 88 zombie punks, 24 ape punks, and nine alien punks in the collection, there are extra 88 zombie punks, 24 ape punks, and nine alien punks.
These punks have a unique backdrop colour that let buyers can see the digital asset’s current condition. The character with a red backdrop is for sale, while those with a purple background are now being bid on. The punk, however, is not for sale if the background colour is blue.
Bored Ape Yacht Club
The Bored Ape Yacht Club is one of the most well-known NFT collections of our time (BAYC). Jimmy Fallon, artist Future, music producer DJ Khaled, and YouTuber Logan Paul are just a few of the well-known individuals who have invested in BAYC. Eminem, the American rapper, is the most recent superstar to jump on board, owning a piece of digital art that resembles him. It’s also his Twitter profile photo.
BAYC is an Ethereum blockchain-inhibiting game created by Yuga Labs. It contains animated apes with various traits and rarity. A total of 10,000 distinct Bored Apes are housed in the NFT project.
Mutant Ape Yacht Club
Mutant Ape Yacht Club (MAYC) is a unique collection of apes created as a separate project by the makers of the BAYC.
MAYC was released in August 2021. There were 10,000 Mutant Apes in the collection, which were sold instantly for USD 96 million. But this is not where the ‘mutation’ stopped.
According to CoinGeko, MAYC could be created using a “vial of mutant serum or by minting a Mutant Ape in the public sale.”
What this means is that BAYC creators added a unique system that not only greatly benefited holders of the original Bored Ape NFTs but also raised the popularity bar of the Mutant Apes.
Another top NFT project to know in 2022 is the game Axie Infinity. It is a play-to-earn blockchain game. The game that resides in the metaverse was originally launched in May 2018 and has gained a lot of popularity over the last year.
The official website explains the game as a “universe filled with fascinating creatures, known as Axies, that players can collect as pets.”
It further states, “Players aim to battle, breed, collect, raise, and build kingdoms for their Axies. The universe has a player-owned economy where players can truly own, buy, sell, and trade resources they earn in the game through skilled-gameplay and contributions to the ecosystem.”
Cool Cats, which is based on the Ethereum blockchain, is another NFT collection that has been making news. It was released in June 2021 and features 9,999 different characters based on a blue cat animation. The combination of diverse face expressions, features, and attires, however, distinguishes each of these characters.
One of the most intriguing aspects of this NFT is the developer’s ability to breed characters for future generations. The largest bid to date was US$3.5 million for a Zombie cute kitty. Until now, these NFTs could only be utilised as art, and their owners may participate in community giveaways and events.