What is a Blue Chip NFT

When we’re thinking about a profitable investment, blue chip NFT immediately comes to mind. Surely many of you have heard of Cryptopunks and seen these monkey profile pictures. Of course, you can create your first NFT and already begin to operate profitably, but blue-chip NFT projects need to explore further. If you’re already in NFT space and own tokens, you’ve probably heard of blue chips. Today we will tell you in great detail about what is blue chip status is and how to operate profitably with it. The following information will be useful for everyone who already has an NFT project and for those who are new to crypto. If you want to learn even more about NFTs – check out this ultimate guide to them by our CEO, Mykhailo Sitalo!

The main definition

To give you fewer questions about the blue-chip NFT project in the future, let’s start with a definition of the term. The term blue chips came from the field of investment. Blue chips are commonly referred to as stocks of the largest and most stable NFT projects and crypto companies that have been in the blockchain business for many years and have an extensive track record. In the NFT space, these are the authored works and NFT collections that collectors and speculators think will retain their value over a long period of time.

There is nothing physical behind the NFT project as such, it is just plain binary code, plus belief in a certainly created utility. After the NFT market with tokens grew dramatically, in no small part due to the growth in sales of Cryptopunks’ NFT collections, people began to believe that these blockchains would remain highly valued in the future.

What will help hold the high Ethereum blockchain (or another crypto) value of such as NFT project? Many are trying to compare such an investment with the stock market. But since there are almost no physical assets behind NFT collection at the moment, it is not possible to do this correctly. It can even be said that everything here rests on the founder and his idea with blue chip stocks, which changes the world.

How does an ordinary NFT project get into this league?

It is worth bearing in mind that the analysis of blockchains and blue chip NFT we have presented cannot be taken as a basis and considered the only fundamentally correct. Right now, we are living through the moment of the birth of a new crypto industry with blue chip NFT. No one knows what will happen next with the Ethereum blockchain, other tokens, the blue-chip NFT project, and how you will make decisions in the future. 

What to look for when choosing an NFT project?

So, when choosing an NFT project and planning to make an investment, pay attention to:

  • Assessing the artistic value of an NFT project is a skill that only a small number of people on token stock possess. The more experienced and observant a viewer of the NFT project is, the easier it is to pick out grains of gold among blockchains. Sometimes an ordinary profile picture is considered a work of art and a good investment, just think of the Cryptopunks.
  • Artists who have a well-developed social community have a much better chance of creating a successful NFT project that will be favorably received by the crypto and token community. In such a blue-chip NFT, the artist’s name acts as a magnet that attracts new contributors and ensures the successful launch of the NFT collection.
  • A roadmap is a strategic planning tool used by NFT project creators to define desired outcomes and objectives for bringing a product to the crypto stock. Although a roadmap is not a required attribute for blue chip NFT, many teams strive to make one and present it to collectors.

Popular blue chip NFTs often become objects of copying and imitation. If over time, you increasingly notice that your NFT collection begins to be copied on the crypto stock, it is worthwhile to be sympathetic to this fact. The original NFT project will always remain so and will be a good investment.

When to make an investment in an NFT project?

Of course, you can not predict perfectly what will happen with the Ethereum blockchain and the token market as a whole, but now with a greater likelihood of becoming popular are several types of NFT projects. You have in all probability noticed that the NFT project market is gradually beginning to fragment. Clear boundaries of NFT collections are emerging to distinguish not only the different artistic techniques used in the creation of blue chip NFT but also the uses of the tokens. 

Let’s take a look at the main type of artistic blue chip NFT tokens such as profile pictures. One of the first such NFT collections was Cryptopunks, which took a place of honor on the NFT project’s top. The peculiarity of such NFT collections as Cryptopunks is that images are formed in an algorithmic way, by enumerating various parameters. It’s hard to imagine now, but at first, when this NFT project was just launched, nobody needed it and it was distributed for free. Now it is an incredibly profitable investment and blue-chip NFT.

Punks were collected by ordinary people simply because they liked them, and liked the pixel style in which they were made. This style of blue chip NFT is worth mentioning. After that, a pixel tsunami hit the market, breathing a second life into this trend.

Why is it so important these days?

As you have already realized, blue chip NFT is a real phenomenon, which we are witnessing with you right now. It is not only a modern art form but also an opportunity to make good money. Some projects offer users who hold their NFTs for a long time a special system of profitability. They are a kind of in-game currency that can be used to pay within the project ecosystem.

The minimum price is a kind of litmus test that shows how popular the project is and how much it is demanded by the community. Finally, we would like to say that the opinions of various famous people certainly contribute to the popularization of a particular subject, but are not critical.