Blue Chip NFT

Non-fungible tokens, or NFTs, are unique, verifiable, and one-of-a-kind blockchain tokens representing digital and physical assets. The digital market has gone through an NFT hype since 2021, especially for blue chip NFTs, and we are still seeing demand for better-established NFTs whose utilities go beyond mere profile pictures.

The NFT market has added several values to non-fungible tokens. A new DappRader report showed over $101 billion in sales of NFTs in 2022, which suggested a 67.5% increase compared to the previous year. The sale was reported for both new collections, which could rise to the top and fall after a while, and more stable ones, called blue chip NFT collections. However, most NFT investors sow their interest in blue chip NFTs since they are the most sought-after tokens in the market.

In this article, we aim to demonstrate the characteristics of blue chip NFTs and explain how they are different from other NFT projects. We will also review the best blue chip NFTs and some of the best blue chip NFT artists.

What is a Blue Chip NFT?

In traditional finance, a blue chip refers to a well-established and financially positive stock that is widely recognized. Blue chip stocks, thus, are considered relatively safe investments with high records of success and stable growth.

Blue Chip NFT collections also demonstrate a high and stable market value in the long term. These NFTs are among the best investment choices since their appeal or value is not going to fade soon and it will increase with time.

Therefore, all NFT projects that provide long-term returns on investments are considered blue-chip NFT projects. They promise to make a great profit for those who invest in the projects. These NFT projects share multiple characteristics, including high floor price, brand power, wide utility, and collaboration with other brands. Let’s discuss their qualities in more detail.

Qualities of a Bue Chip NFT

Although the NFT market is still young and is developing fast, some collections are recognized with greater stability. Therefore, they are introduced as blue-chip NFT projects. But what exactly makes an NFT project blue chip? Here are some of the common traits seen in blue chip NFT collections.

1. Brand

A blue-chip NFT brand is popular, well-known and well-respected by the masses. Blue chip brands are recognized to change with the times and are open to new trends, especially to culturally relevant trends.

Some blue-chip NFT projects, such as CryptoPunks, gain their popularity in the market since they were early in the space. Punks, for example, were originally the first 10k profile picture NFTs introduced in the market, which made them not only historically significant but also culturally relevant at the time.

Blue chip brands, on the other hand, have a positive reputation in the market. Blue Chip NFT brands often provide profit and success to their investors which gains them a positive reputation for the years coming. Therefore, blue chip NFT projects are considered to be excellent long-term investments.

2. Artist reputation

Another characteristic of blue chip NFT projects is the creative artists behind the project. A well-known NFT artist or team can make the NFT collection sales go higher than average since investors are familiar with or even own the creator’s work from previous projects and notice their success.

NFT enthusiasts and investors understand that a good brand and project without a creative artist or developer team will be less likely successful. Therefore, known names, such as Yuga Labs, attached to an NFT project is a key feature for blue chip NFT projects.

3. Utility

All blue chip NFT projects are known for their roadmaps and the utilities of their NFTs in virtual and physical worlds. Blue Chip NFTs always have a clear and practical utility, such as the ability to unlock exclusive content, access special events, or participate in exclusive communities. The NFT must also provide a genuine use case and a clear path to success with clear plans on how to develop to the point. In fact, their roadmaps must demonstrate the bright future ahead of the NFT project. Bored Ape Yacht Club is a good example of such projects.

4. Community endorsement

If you are familiar with the NFT world, you should know that the strength of the community surrounding an NFT project is one of the most influential traits influencing its price and stability. Blue chip NFT projects normally have a large and engaged community of collectors, fans, and investors who widely support the projects and help their further growth. The community acts as a network of advocates who try their best to promote its desired NFT project and ensure its success.

5. Floor price and sales volume

The higher floor price of an NFT indicates its higher value. When the floor price of an NFT collection increases with significant trading activity, an NFT is more likely to become a blue-chip one. Sales volume is the main factor to validate a steep floor price; it indicates an NFT project is popular and is supported by its community. Bored Ape Yacht Club or CryptoPunks are considered blue chips because of their floor price and sales volume.

Best Blue-Chip NFT Collections

1. CryptoPunks

CryptoPunks is one of the earliest NFT collections, with 10,000 NFTs minted on the Ethereum blockchain. It was released by the well-known Larva Labs in 2017. At the release, everyone could have a Punk NFT by paying the Ethereum gas fees. Today, each NFT from the CryptoPunk collection means owning thousands of dollars.

CryptoPunks are pixel-based avatars of people, apes, zombies, and aliens and have been the headline of the news during the last few years. Punks #7523 and #5822, for example, have been among the most expensive NFTs of all time and were sold for $11.7 and $23.7 million, respectively.

Larva Labs announced that the CryptoPunks collection had a total lifetime sales value of $1.99 billion by 2023, making it a blue chip-NFT collection. The collection has had high-profile auctions at Sotheby’s and Christie’s. The floor price of a common Punk reached over $130,000 in NFT marketplaces in May 2023.

2.  Bored Apes Yacht Club

Bored Apes Yacht Club is a collection of 10,000 cartoon-ape NFTs featuring traits such as fur, clothing, accessories, etc. These features determine the rarity of the NFT apes. Like CryptoPunks, Bored Apes were also minted on the Ethereum blockchain in 2021. Yuga Labs, the team behind the project, added a road map to the project and allowed the creation of a community for the project, which made it even more popular and valuable.

Several celebrities, like Jimmy Fallon, Paris Hilton, Eminem, Justin Bieber, Shaquille O’Neal, and Steph Curry, endorsed the collection and owned a Bored Ape NFT asset. Thanks to the endorsement, Bored Ape Yacht Club experienced an increase in prices, so Bored Ape #232 sold for $2.85 million in January 2022. The total sales for the collection are estimated to be over $3 billion in 2023, and the floor price reaches $170,000. Bored Apes have shown to be one of the most stable NFT collections during the last couple of years.

3. Doodles

Doodles is a collection of 10,000 profile picture (PFP) NFTs designed by Evan Keast, Scott Martin, and Jordan Castro in October 2021. The collection comes in a joyful range of colors, traits, sizes, and each line-drawn avatar was randomly generated using hundreds of visual traits. The project was launched on the Ethereum blockchain at 0.123 ETH per mint at the time of release.

Doodle was known as a community-centered NFT project since the beginning, and its early supporters were rewarded with priority minting and voting power on road map proposals. The floor price of Doodle NFTs reaches over 2.27 ETH, and the market cap is $350 million.

4. Cool Cats

Cool Cats NFT collection was created in July 2021 and featured 9,999 blue cartoon cats with randomly generated hairstyles, hats, accessories, expressions and clothing. Each Cool Cat is completely unique, and fans have used a random combination of body, face, and outfit to rank the cats based on their “cool” factor.

Cool Cats holders have exclusive access to NFT raffles, airdrops, community giveaways, and priority minting for future Cool Cats projects. Cool Cats collection has managed to gain a large community of NFT lovers and has a high sales volume and popularity among other NFT collections. The floor price for a Cool Cat NFT is almost $5,000. Its total market cap reached $168 million in 2023.

5. Mutant Ape Yacht Club

This NFT collection is a derivation from Bored Ape Yacht Club by Yuga Labs and includes 20,000 pieces. This blue-chip NFT collection managed to achieve a huge community of fans and generated the same hype as the Bored Apes collection.

Mutant Ape holders have the same access to new mints, events, and drops as Bored Ape holders. The project has been supported by celebrities, like Neymar, which caused an elevated floor price. The floor price for the collection reaches almost $18,000, and the total market cap is $350,000 in 2023.

6. VeeFriends

VeeFriends was created to establish a community around creativity and entrepreneurship by Gary Vaynerchuk. The first series of the collection includes an exclusive set of tokens known as Gary Originally Owned (G.O.O), featuring 9,013 tokens drawn by Gary himself.

The Holders of series 1 VeeFriends NFTs gain access to VeeCon, a multi-day conference organized by Vaynerchuk. They also have access to Mini Drops, Book Games, and the Series 2 collection, which features 55,555 NFTs. However, only 10,000 of these NFTs are available for public sale, and more are allocated to whitelisted Book Games NFT holders.

VeeFriends’ floor price is around 2.4 ETH, and had a market cap of $300 million by the end of 2022.

7. Meebits

Meebits NFTs were developed by Larva Labs and launched in May 2021. The NFT collection features 20,000 3D voxel characters created via a custom generative algorithm. These NFTs represent a full-body 3D character with distinct traits such as tattoos, clothing, hairstyle, etc. Their design indicates the potential of NFT art evolution on blockchain networks.

Meebits got popular immediately after launch and turned into a popular blue chip NFTs in the crypto space. There are multiple applications for Meebits: they can be used as metaverse avatars (with interoperability established with The Sandbox), profile pictures on social media, and even 3D printed into physical collectibles. Besides, Meebits trades within the platform charge no fees. Meebits floor price reaches over $3,500 in May 2023. It recorded a sales volume of over $165M in 2022.

8. CloneX (CLONEX)

CloneX presents the very first set of NFT avatars that are readily portable. The NFTs offer their holders access to 3D files that can be used across various platforms. CloneX is designed by RTFKT, the well-known digital sneaker manufacturer and Japanese creator Takashi Murakami. The collection has attracted lots of investors since it was equipped for the metaverse and featured high-end avatars. The collection was also the first to start a community-based space focused on quality.

These avatars are famous for their inclusivity since they comprise multiple clothing styles, accessories, and exclusive hairstyles. The clones feature various races and skin colors with undefined genders. Besides, they feature real-life conditions like vitiligo, which has made the CloneX NFTs very rare and valuable. CloneX hit $600.5M in sales volume in 2022, and the collections floor price is over $5,000 at the time of writing.

9. Azuki

Azuki is one of the most famous NFT projects due to its unique art style. The collection launched in January 2022 and is inspired by anime artwork. It includes 10,000 profile picture (PFP) NFTs developed by Los Angeles-based group, Azuki.

Owning an Azuki grants the user access to exclusive NFT drops, streetwear collabs, live events, and more as they become members of The Garden. All Azukies have different traits regarding hair, background, clothes, and different wearables; some Azukies hold swords, a cup of coffee, a skateboard, or a Boombox. The floor price for this blue chip NFT project is over $25,590 and its market cap reached $256 million in May 2023.

Top artists of blue-chip NFTs

Here are some of the NFT artists who have made blue-chip NFT projects:

• Damien Hirst with three impressive collections: The Currency, Great Expectations, and The Empresses
• aJR with Greetings from Giza NFT collection
• Urs Fischer with CHAOS
• Jeremy Deller with The Last Day NFT collection
• Justin Aversano with Twin Flames NFT project
• Takashi Murakami with Murakami.Flower
• César Piette with “Nude, Bird, Landscape and Vanitas”
• Brian Calvin with NFT projects Despina and Spin Pearl
• Tom Sachs with The Rocket Factory
• Daniel Arsham with Eroding and Reforming

FAQs

1. How to keep your blue chip NFTs safe?

   Like any other NFT, blue chip NFTs should be stored in a secure digital wallet specified for NFTs, such as MetaMask. Or you can keep your blue chip NFT safe using a hardware wallet. It is essential to keep your private keys and passwords secure and not share them with anyone.

2. Are blue-chip NFTs hundred percent reliable?

   Although a blue chip NFT is seen as a stable, safe, and well-organized corporation token, it is definitely influenced by the market waves. However, the price of a blue chip NFT seems to fluctuate less in a bear market, or NFT falls.

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