Although blue chip stocks are recognizably dependable, they may not deliver the same financial gain as riskier investments. This notion is echoed by so-called 'blue chip' Non-Fungible Tokens (NFTs).
NFTs - non-fungible tokens – are the revolutionary new way to own digital and physical content.
By connecting cryptographically unique tokens with their equivalent asset, NFT owners can truly experience ownership like never before; whether it's a pet monster in an online game or proof of membership for exclusive access, these creative assets bring a heightened sense of value compared to traditional methods.
In October 2022, the global NFT market saw an unprecedented surge in sales with a historic $333 million, according to statistics from CryptoSlam and DappRadar.
With these platforms providing insights into Blue Chip-level tokens and broader movements within the decentralized application economy, this investment boom made it clear that peer-to-peer technology is expanding beyond previously thought possible.
What is a blue chip NFT
Blue-chip companies are renowned for their stability and financial soundness, even during economic uncertainty.
With a nationally reputable standing, these corporations have earned investors' trust to remain profitable in any market.
Blue-chip stocks and NFTs are renowned for their reliable stability, with a proven track record of success over prolonged periods.
However, these more conservative investments come at the price of potentially lower returns than those from riskier ventures. Thus, it is true that blue chip tokens remain regular compared to other crypto assets on offer today.
Bored Ape Yacht Club
Introducing the Bored Ape Yacht Club – stand-out, one-of-a-kind blockchain art pieces from Yuga Labs!
Collectors can own an illustration with an ape with randomly generated accessories and attractive personality traits.
With 10,000 unique profile pictures stored on the Ethereum Blockchain, no two images are exactly alike - so each piece is exceptional.
Becoming a member of the ever-popular Bored Ape Yacht Club has reached a new pinnacle this year.
Trading records show that by January 2022, its various NFTs had accumulated an astonishing $750 million in trading activities - primarily attributed to their adoption among celebrities such as athletes and musicians wanting their own personal Twitter avatars.
Azuki
Azuki, the Ethereum-based profile picture project launched in January, has already sparked a sensation.
With trading volume reaching record heights and its first secondary sale exceeding $1 million this March - all within three months of launch - Azuki is positioning itself as one of 2022's most successful NFT projects yet.
Azuki #9605 sold for an astounding $1.42 million, breaking the project's previous sales record of 204 ETH ($586,000) and nearly doubling its value on February 13th!
CryptoPunks
CryptoPunks, the pioneering NFT collection of its kind, was developed by Larva Labs in 2017 - long before anyone outside of cryptocurrency experts knew what a non-fungible token even was.
This rare set comprises 10,000 pixelated avatars issued on Ethereum's blockchain; holding one grant you exclusive rights as the sole owner of this unique digital asset.
In an incredible stroke of luck for early adopters and crypto fans alike at the time, CryptoPunks were distributed without charge to individuals with compatible wallets – when only 9 thousand were made available publicly from their total stock pool of 10k units owned between them both!
The demand for Non-Fungible Tokens (NFTs) has substantially increased in recent years.
By late 2020, CryptoPunks - the world's first digital collectibles - had gained such popularity that they sold at multi-million dollar auctions at renowned auction houses like Christie's and Sotheby's, playing a significant role as profile pictures on Twitter.
Consequently, this resulted in an exponential surge of value attributed to these provably scarce assets.
Doodles
Burnt Toast's imaginative art has been transformed into unique and colorful NFTs called Doodles, available exclusively in October 2021.
Boasting 10,000 different pieces, each with its dynamic characteristics, these figures offer more than just a creative form of expression—they give their owners the power to pick great experiences funded by an active community treasury!
In September, Doodles made considerable strides in the creative tech world by announcing that renowned musician and producer Pharrell Williams had joined forces to become Chief Brand Officer.
As executive producer for an album inspired by the project, Mr.Williams aimed to bring a new level of creativity and unprecedented success when it came time for NFT sales-surges 1,200% and valued at $704 million.
Critokitties
Dapper Labs revolutionized digital asset ownership with CryptoKitties, a blockchain-based game that utilizes the ERC721 token standard.
Unlike their fungible counterparts (such as Bitcoin and Ethereum), these non-fungible tokens are one of a kind - making each subject to individualization for its specific owner.
CryptoKitties are revolutionizing digital interaction through their unique and individualized genetic structures.
By utilizing a smart contract, each Kitty is endowed with its very own unalterable genotype that creates a one-of-a-kind appearance or phenotype.
Furthermore, CryptoKitties can be bred to produce offspring of different combinations of attributes - bringing the concept of Virtual felines alive in the blockchain era!
CryptoKitties' soaring popularity became a significant obstacle for Ethereum, jamming up the network with an unprecedented volume of transactions that blocked other businesses from accessing needed resources.
As breeding CryptoKitties surged in demand, many companies could not verify their transactions in real-time.
CryptoKitties made an exciting announcement in May 2020 - they were transitioning to the dedicated blockchain, Flow.
This marked a revolutionary development for collectible digital assets that could revolutionize decentralized economies and create new opportunities within this innovative space.
NFTs, like stocks, can be subject to unpredictable market fluctuations.
The Blue Chip Bored Ape Yacht club was a highly sought-after asset that defied the odds until early 2021, when its price took an abrupt downturn due to crypto bear activity.
Despite having sold for $1.3 million in January - with celebrity Justin Bieber as the purchaser - it is now worth only around $69k as of November 2022.
