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What’s a blue-chip NFT? How can they survive the bear market?

The term “blue-chip” may come up frequently when you explore the vast universe of NFTs. If you are an investor or NFT collector, you should understand what a blue-chip NFT is, why it’s so important, and what’s happening with the most popular blue-chip NFT projects.

What is a blue-chip NFT?

Contextually, the term “blue chip” comes from poker. Three-color poker sets frequently include red, green, and blue chips. When compared to other colors, blue ones will be the most valuable.

In the blockchain world, projects that are expected to be steady in terms of value and profitable over time are referred to as blue-chip NFTs. Due to their proven history of growth, blue-chip NFTs are seen as safer investments than others.

For example, the 2021 NFT market boom increased the attraction and value of various projects, such as Cryptopunks and BAYC. People have begun to refer to these projects as “blue-chip NFTs” because market experts believe their high value will last for a very long time, making them suited for long-term investment.

What makes a blue-chip NFT?

Even though the NFT sector isn’t quite ancient and everything moves so quickly, some collections have proven stronger consistency. So what precisely makes it blue-chip? Take a look at these factors:

  • Long-term value proposition
  • Solid and renowned reputation in the market of the organization behind the project
  • Its token has a defined use case that goes beyond speculation
  • A passionate community formed around

Why are people investing in blue-chip NFT?

Firstly, the community would be more interested in an NFT that offers numerous benefits to its owner rather than just a useless good. Blue-chip NFT owners are often enthusiastic about blockchain technology and the asset’s potential. This fosters a strong sense of community and support, which may assist in increasing the value of these assets over time.

Secondly, blue chips, unlike certain other forms of NFTs, can be used for a variety of purposes. For instance, blue-chip NFTs can be used as collateral for loans, and the interest rate may be lower than when using traditional collaterals like cash or stock. This is due to lenders’ perception of blue-chip NFTs as low-risk investments. Consequently, they are more versatile and valuable to both lenders and borrowers.

Finally, investing in blue-chip NFTs is worthwhile since blue-chip NFT brands often have outstanding business strategies and are leaders in their respective industries. Their level of stability and security is unrivaled in other kinds of investments.

What’s happening with the top blue-chip NFTs

The crypto market has fallen after Bitcoin reached an all-time high of $68,000 in November 2021. This volatility is nothing new since Bitcoin saw a similar drop from 2017 to 2018, totaling almost $17,000. The most significant difference this time is that more industries are decentralized, many of which have the stability and agility to weather the bear market. Let’s see how the top blue-chip NFTs are doing and what they have done to survive.

Bored Ape Yatch Club

One of the most well-known and successful NFT projects is the Bored Ape Yacht Club. It’s teaming up with Rolling Stone once more to issue two digital NFTs and two physical art prints, the former of which will be auctioned off on OpenSea. Both offers were designed specifically for the release, allowing fans and collectors to purchase a piece from one of the largest and most successful digital art collectives in partnership with a major publication.

The first fine art poster depicts an iconic Bored Ape in his own private paradise. Curtis, the bored ape, is reclining on the dock of his clubhouse with a ukulele and his daydreams in this exclusive, hand-drawn image.

The second art work, created in partnership with Mutant Ape Yacht Club, depicts the daring ape escaping from a mutant slime volcano on his motorcycle, outwitting the barreling plume of lava behind him.

Coolman’s Universe

Coolman Coffeedan, a LA-based artist, is collaborating with Cartuna, a Brooklyn-based animation studio, to produce a cartoon series based on his popular NFT artwork, Spesh. The Universe was created by Casale himself to store his art and NFT collection, which drew many fans and collectors.

This animated series will follow the exploits of the popular character Spesh. Cartuna will produce the series, which will be totally animated, with creators James Belfer and Adam Belfer serving as executive producers.

Cartuna will create the animation and produce the series, with creators James Belfer and Adam Belfer serving as executive producers alongside Casale.

Doodles

The NFT project Doodles presented the Genesis Box in June, a limited edition of wearables for Doodles 2, a planned NFT collection by the Doodles designers. This collection includes dynamic NFTs that can change their appearance as well as new artworks with unusual attributes from the Burnt Toast collection. The Genesis Box contains rare items and outfits for customizing the NFT character.

Doodles 2 is a set of dynamic NFTs that may vary their appearance. The new artworks will include rare OG qualities from Burnt Toast’s Genesis collection. Because the new Doodles will be able to modify their appearance, the business launched the Genesis Box, which features exclusive NFT accessories and clothes.

World of women

World of Women (WoW) announced a collaboration with WS Game Company and Hasbro to create an exclusive WoW Monopoly board game. The WoW NFT collection includes bright, diverse, and powerful female avatars that have proven to be quite popular with collectors.

WoW Galaxy, the second drop, premiered in March with 22,222 NFTs, 10,000 of which were awarded to holders of the first collection. Karkai, the digital artist who founded the NFT collection, created artwork of futuristic women for WoW Galaxy.

The WoW Galaxy Monopoly game will incorporate artwork from the Galaxy NFT collection and will be available only to owners of the first WoW collection or the second WoW Galaxy collection. Initially, the game will be accessible as an NFT, which may subsequently be redeemed for a physical copy of the game.

Conclusion

Blue-chip NFTs are blockchain projects that are expected to be stable in terms of value and profitable over time. Blue-chip NFTs are considered safer investments than others due to their demonstrated track record of growth. Although the bear market might make it hard for any project to thrive, blue-chip NFT projects continue to come up with exciting ideas to stay competitive.

For more information, join Rikkei Finance Discord community: https://discord.gg/GM3U44e6PG

Disclaimer: The information herein is for reference purposes only and should not be considered financial, investment, or trading advice. Please conduct your own research and due diligence before making investment decisions. You understand that you are using the Information provided at your own risk.

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Rikkei Finance

Rikkei Finance

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Rikkei Finance is a Web3 platform, encompassing a DeFi lending protocol and an NFT Marketplace; with a focus on NFT rentals and NFT based lending and borrowing.