Well, it’s hard to find the next blue-chip project from the thousands of different NFT collections that pop out almost every day. It could come in all shapes and sizes, like the “Bit Birdz,” which looks no way near the successful NFT collections like “Okay Bears” or “DeGods.” Still, it showed a massive increase in floor price.
Disclaimer
We are not financial advisors. The content on our website is for educational purposes only and merely cites our own personal opinions.
So, we’ll share with you how projects are evaluated. And at the end of this article, you’ll discover what caused the “Bit Birdz” collection its sudden explosive floor price pump. Then, without further ado, let’s dive in.
Digital Collectibles
If you can no longer stand your friend who keeps bugging you to invest with the NFT project he had, Did you know that a LeBron James rookie card was sold for $5.2 million? And since then, people have begun pouring into the sports collectible industry.
It’s no wonder that NFT collectibles like Turtles have surpassed more than 69k SOL in total sales volume. But what makes a digital collectable, so valuable? Very simple answer, the rarity of an NFT piece.
READ MORE: NFTs for BEGINNERS – Explained
Art NFTs
In NFT space, there’s this NFT that is called “generative art.” This is the combination of two powerful elements, technology and creativity. Well, we can also say that NFT that is created thru a computer is a “generative art.”
However, the “Solana Monkey Business” NFT collection is a game-changer in this category. More than the beautifully made pixelized art, it gave access to a community of SOL NFT pros. That’s why it spawned countless derivative collections, and to know the difference is to know how valuable the utility and benefits it provides.
Access Pass NFT
One aspect of the NFT space is a pass that acts as proof of ownership over pretty much anything. It could give access to an exclusive group, a game, or even in the metaverse. After all, we could easily determine the value of this type of NFT just by looking at what type of access it grants.
Gaming NFTs
If you have never heard of the term “Pay-to-Win,” you may not be a fan of video games. But, for years, gamers complained about how gaming companies designed games that squeeze every last penny from their pockets.
And here’s where Gaming NFTs came, and this solved this issue as gamers were granted ownership of their gaming assets and could either sell or trade them for ROI. So, this type of NFT is valued on how many its current active players. Just literally, the more, the merrier.
PFP NFTs
The “Profile Picture NFTs.” And yes, it has blown up the NFT Space over the past year. Aside from being a jpeg that you can use in your social media account, it also became another symbol of status and credibility. Like the “DeGods” and the most recent the “Okay Bears.” These NFTs could cost thousands, if not millions of dollars. So, their value comes from how trendy they are and if many people want to use them as a profile picture.
This happened to “Bit Birdz,” which pumped x5 in floor price overnight because the people behind this project were the same people behind the famous the trendy “Okay Bears.” So, make sure to watch out for the current trend.
READ MORE: NFTs for BEGINNERS – Explained
To be continued…