There is a lot of hype about new financial technology (NFT) projects. Millions of NFTs are now for sale, and new projects seem to be starting every day. How can you find the best ones? NFTs may not be a good investment choice if you have a lot of money.
With four million assets on OpenSea, the most popular NFT marketplace, there could be a lot more on other marketplaces. However, not all of these assets will rise amid the size and scale of the NFT market.
Therefore, this article highlights the best three NFT ideas to follow in 2022.
Why is it worth investing in NFT ideas?
Many new NFT initiatives are being launched every day. As a result, many well-known people now own digital assets and flaunt them on social media, which has resulted in a significant increase in the sale of NFT.
NFTs, in particular, are on their way to becoming the next big concern in investing, with crypto moving into a new division. In addition, current social conditions favor NFTs, which are becoming more and more popular.
NFTs have seen a significant increase in the economy over the last few years, particularly in 2021. As of 2021, the worldwide NFT market has a total value of more than $41 billion.
In the coming years, investors and creators will have even more opportunities and growth, which will benefit everyone in the industry. The world of NFT is extremely adaptable, and it changes depending on the application. As a result, streamlined and niche parts of this sector can now grow faster.
How does it work?
Indeed, most of today’s NFT trading is about digital art, but NFTs can be made for anything digital, like a gif, jpeg, tweet, or YouTube video. People use the NFT to show that they own something.
Consider it a certificate of authenticity that shows that a certain person has certain rights to that one-of-a-kind digital product. This certificate is on a blockchain, a public, decentralized database of transactions that anyone can look at to see who owns a given NFT.
NFTs are traded on several internet exchanges, where users can bid on NFTs and sometimes buy them for a set price. Purchases are often made with cryptocurrency because most NFT platforms are built on the Ethereum blockchain.
The owner of the NFT has the right to use the asset, but it doesn’t always mean the asset is out of the public eye. People can still see and download it.
How to start?
NFTs can be bought cheap and sold reasonably, just like any other investment. So people in the market can invest in NFTs early and then make money when they sell them.
Once you own an NFT, you can do whatever you want with the digital asset. You can keep it as a collection, show it to the public, or put it in a bigger digital project. However, NFTs should be considered a risky investment that could go down to zero.
You can also put it up for sale. People who sell NFTs on marketplaces pay a fee. These prices may change depending on the blockchain network that the NFT runs on.
To sell a digital asset you own, you must put it on your favorite marketplace, which must use the blockchain that the NFT was built on. You can then put it up for sale at a fixed price or have an auction-style sale where people bid on it.
Once an asset is put up for sale, the market checks it out. Then, following its sale, the marketplace will take care of everything that needs to be done to get your NFT and crypto money to your wallet, minus the listing fee and any blockchain costs.
Best three NFT ideas to follow in 2022
Investing in NFTs will continue to grow in popularity in 2022 as more people become aware of the potential rewards. Here are the best three NFT ideas to follow in 2022.
52-week range: $0.18-$5.19
1-year price change: The MANA saw an all-time high in December 2021, around $5.90. Even though the asset had an all-time low price of $0.186 in 2021, its price increased by 875.12%.
Forecast 2022: $9-$14
Decentraland is a virtual world with its own DAO (Decentralized Autonomous Organization), which decentralizes control and gives it to users.
The world of Decentraland is powered by a virtual marketplace that sells things like land, clothes for your characters, and more.
There are only two things you need to be a part of this: a web browser and a digital asset wallet like Binance or Trust Wallet. Of course, the wallet isn’t required, but it makes the game more interesting because it protects your digital assets from being stolen, like your names, valuables, and LANDS.
Axie Infinity (AXS)
52-week range: $1.1-$165.37
1-year price change: The AXS is expected to reach around $90.9 in one year. An all-time high price ($163) is observed at the start of November 2021, increasing 2918%.
Forecast 2022: $91-$110
It’s important to keep an eye on Axie Infinity, which is another project that will be interesting in 2022. In this game, you have to play to earn handsome money. It is a game on the blockchain. During the last year, the game has become more popular. It started in May of last year.
According to the game’s official website, the game is set in a “world full of various interesting animals (Axies) that players can buy as pets.”
In addition, it says, “Players must fight, breed, collect, nurture, and build kingdoms for their Axies.” People can own, buy, sell, and trade materials that they earn through good gaming and contributions to the ecosystem in the world.
It says on the website that the most expensive Axie ever sold was for US $820,000, and the game has 2,800,000 people who play it every day.
Cool cats (COOL20)
52-week range: $38.7-$466.9
1-year price change: the COOL20 saw an all-time high on Oct 5, 2021, around $466. Even though the asset had an all-time low price of $38 in Aug 2021, its price increased by 870%.
Forecast 2022: $450-$590
Another collection generating news in the NFT arena is Cool Cats, based on the Ethereum blockchain. It came out in June 2021, and it has 9,999 different characters based on a blue cat animation.
However, what makes each of these characters unique is the combination of their different facial expressions, traits, and attire. One of the most interesting things about this NFT is that the developer can make characters for future generations.
Bids for a Zombie cool cat that was for sale have reached US $3.5 million so far. Until now, these NFTs can only be used as art, and their owners can participate in many events and win community prizes.
Upsides and downsides
Here are the most significant upsides and downsides of the NFT projects.
|NFTs are indivisible; they cannot be separated or altered in any way.||The value of an NFT may change, and the current owner may or may not be able to find a buyer when it’s time to sell.|
|The digital work belongs to the NFTs’ owner, and it is not permissible to reproduce or replicate the original. It is also possible to cross-check and verify the data on the token at any moment.||Cryptocurrency transactions use a lot of power to process, authenticate, and control, which has made some people worried about the environment. This Includes artists who sell NFTs, investors who buy them, and the general public.|
|It is possible to trade NFTs instantly, increasing their liquidity and exposing digital assets to a wider range of potential buyers.||The future of NFT isn’t clear or certain.|
People only need to take the first step to start trading, investing, making, and using the platform’s use-cases. The NFT area is very beneficial and full of opportunities. In 2021, the NFT sector made more than $41 billion in total world market sales.
Research NFT projects well before investing. During the next few years, investors and creators in the industry will take advantage of more growth opportunities. This allows for more growth in the sector’s streamlined, narrow divisions.