There are millions of NFT’s for sale, and it seems like thousands of new projects are launching daily. How do you cut through all the noise to determine The Best NFT Projects 2022? And potentially invest in?
Depending on how much money you are looking to spend, you may not want to look at NFT’s as an investment. There are currently 4 million assets on OpenSea (the most popular NFT marketplace). Potentially millions across other marketplaces like (Rarible, Foundation, SuperRare, NBA Top Shot, and more). Knowing that the NFT universe is immense and ever-expanding, it is safe to say not all these assets will appreciate.
So, you might ask, what should you look for in a project? We find NFT’s with utility (defined below) as a great first introduction into NFT’s. And of course their potential future uses.
Suppose you can find a project with a mission that you can relate to, which also has some form of utility. In that case, you are getting more out of the NFT purchase than simply digital ownership of an asset.
VeeFriends is from none other than serial entrepreneur Gary Vaynerchuk. Gary serves as the Chairman of VaynerX, CEO of VaynerMedia, and the owner/creator of VeeFriends.
VeeFriends is a ticket to Gary V’s multi-day super conference, where only VeeFriends token holders gain access.
VeeCon is the first NFT ticketed conference in the world. VeeCon is where VeeFriends token holders come together as one. The community builds lasting friendships, share ideas, and learn together. I believe this is one of The Best NFT Projects for 2022.
The MetaLodons Club
MetaLodons are humanoid sharks created by the crazy Professor Shrimpz. Professor Shrimpz realised our planet is in dire need of help. He started to develop all kinds of defenders whose sole purpose is the protection of Earth. One of the dangers is ecological catastrophes. MetaLodons are the first type of Professor Schrimpz’ defenders. They are specifically designed to take care of our coral reefs and other ocean ecosystems.
Therefore a big chunk of the NFT sales will be donated and used to support the organisations, foundations or NGOs with the mission to protect the oceans and its diverse habitats. However, the specific design of MetaLodons prevents them from helping out on the surface. Professor Schrimpz knows this much and is ready to deploy terrestrial reinforcements! This also seems like one of The Best NFT Projects for 2022 to invest in.
The world’s first NFT funded café & more by us, Coffee Bros.!
Crypto Barista’s Season 1 will launch with 60 caffeine-loving characters whose ownership helps conceptualize and open the World’s First NFT funded Café.
Owners of a Crypto Barista enjoy caffeinated perks for life at all future cafe spaces and websites. Owners also control the “Barista Bank,” a 15% fund set aside from the project’s revenue for future use in the coffee space. Some potential uses for the Barista Bank can support charitable organizations in the coffee space, advance the Crypto Barista project, or start something new.
“The goal of Crypto Barista’s is to build a community of like-minded individuals that appreciate art, caffeine, entrepreneurship, and innovation. The project’s ambition is to initially open a physical space in NYC where art and innovation are at the forefront. The future of Crypto Baristas beyond that will be up to the holders and followers of our campaign.”
– Dan Hunnewell (Owner, Coffee Bros.)
The Coffee Bros. Crypto Barista project looks to solve the three sometimes lacking pieces in many NFT projects, governance, community, and ownership. The project will evolve through Seasonal launches, where each season focuses on a new endeavor within the coffee space while providing perks and governance to all holders. If you like coffee and NFTs, this is one of The Best NFT Projects for you in 2022.
Azuki are the self-proclaimed skaters of the internet as they are “skating between the blurred lines of the physical and digital worlds as they are beginning to blend.”
As a project, Azuki is a collection of 10,000 avatars that give you membership access to “The Garden.” The Garden is where Azuki sees their project blurring the physical and digital worlds. Azuki uses its characters and partnerships for streetwear collabs, additional NFT drops, and eventual live events.
Azuki has also been seen pushing the boundaries with new offerings like their recent Bobu the Bean Farmer. Bobu, the Bean Farmer, was to fractionalize the artwork and create a Bobu Token where all owners in the community can govern the Bobu character within the Azuki universe. The token owners will guide Bobu’s future in this unique web3 experiment.
Doodles are a collection of 10,000 NFTs (non-fungible tokens) that are made up of hundreds of exciting visual traits designed by Burnt Toast. Hand-drawn Doodles include skellys, cats, aliens, apes and mascots. The Doodles collection also includes dozens of rare heads, costumes, and colorways of the artist’s palette.
What is so unique about owning a Doodle is that it allows you to vote on community-driven features and future products and events. The entire roadmap for Doodles is a collaborative experience between the collectors and the project architects/designer.
Doodles also has a community bank called the “Doodlebank” which is their treasury that is community governed and will be used to fund new experiences. Currently, and at the time of this writing, the Doodlebank holds over $5M in funds.
Doodles have seen the most unique progression in the NFT space after launching their Space Doodles project. “Space Doodles are personal spaceships for your Doodle. Each Space Doodle is generated from over 200 audio-visual traits. Accompanied with stats that reflect the competency of your Doodle in its spaceship. Space Doodles and their stats will be used in future Doodles experiences that deliver surprise and delight to the wider NFT ecosystem.”
Women Rise is a 10,000 randomly generated collection by the internationally acclaimed visual artist Maliha Abidi. The goal of the collection is to make the NFT space more inclusive and diverse. That is by introducing more women characters. Also donating a percentage of primary sales to funds that focus on gender equality, girls’ education, and mental health in marginalized societies.
Invisible Friends is from animator Markus Magnusson. He brings 5,000 invisible walking characters to life. Markus Magnusson is rightfully known as Motion Markus, and if you take a look at his Vimeo, you can see why.
The Invisible Friends project is set to go live in February of 2022 and has already gained a massive following. Discord (250k+ members) and Twitter (373k followers).
If you are not lucky enough to beat the odds and mint one of the 5,000 characters, Markus has launched a very well designed merch bundle which can be found here.
Even the illustrator of the Crypto Baristas project is in love with Invisible Friends and can be seen speaking about the project on his blog about Best Illustrated NFT Projects of 2022
I know I already talked about a walking project, but it is a highly complex animation sequence to create. And in my opinion — if the character needs to walk in place as a loop, it is incredibly more difficult. This project takes my fear and walks all over it—pun intended.
Tony Bui of Crypto Baristas
How to Assess the Value and Worth of NFT’s
OpenSea is the largest marketplace for NFT’s. At the time of this writing, they have over 4 million assets for sale, and this number continues to grow exponentially every day.
The value will certainly decline with each new piece of artwork or project that launches in the NFT space. An overwhelming number of art and artists will lead to further confusion on what will or should hold value.
To understand if NFT’s will hold future value, you must first look for the following:
- Rarity/Celebrity: Is the project highly desirable, limited supply, and or created by a celebrity?
- Utility: Does the NFT project have use outside of just being a piece of art?
- Uniqueness: Is the art/project unique, or does it follow the same 8-bit formula as those in the past?All of these attributes makes NFT Drops The Best NFT Projects for 2022.
Famous NFT Projects
Let’s start with the most obvious, a project that has an influential creator or backer which may also have a very limited supply.
If you look at any project tied to a prominent figure or company, they have typically sold out in minutes, and secondary transaction values have increased steadily. A steady increase in value all comes down to brand or fan loyalty, and the marketplace for these types of offerings is much more comprehensive than your standard NFT.
Twitter launched its first NFT project in June and saw tens of thousands of bids on the first day. Those who were fortunate enough to purchase any of the initial NFT’s huge gain even within the first week.
Twitter minted 20 pieces of their Fury Twitter logo, several of which they gave away, but initial purchasers were paying upward $56k for one. It might not be The Best NFT Project there is, but let’s be honest, It’s pretty great.
- Fury Twitter NFT video saw its first purchase on 6/30/2021 for $56,900
- A recent purchase of one of the Fury Twitter videos came in at $124,927 on 8/12/21. This secondary purchase equates to a 121% gain in less than two months.
Utility: Does your project have use outside of just being an art piece?
Utility-driven NFT’s are the future of the space as your average consumer can better correlate real-world value to these assets. The biggest argument you see online with NFT’s is that it is just a JPG file that can be quickly screen grabbed. While you can undoubtedly screen grab anything online, it, unfortunately, does not define ownership. To go one step further toward creating value outside of owning the rights to a digital piece of artwork is to create a Utility NFT.
Projects that define themselves as Utility range in scope from real-world items (buy the NFT and get the hand-painted artwork), events, use in a digital world (think gaming), exclusive in-person memberships, or investment and ownership toward a physical space.
Utility NFT: An NFT assigns a use to the digital asset outside of owning just a piece of art. A utility NFT can be one in which you receive a physical piece of art that matches the NFT you purchased; it could be special access to an event, exclusive in-person memberships, or future use in the digital world (think gaming).
Many projects fit the above mold from Gary Vaynerchuck’s VeeFriends, Crypto Baristas, Fly Fish Club, and Nouns. We implore our readers to dive into these projects to see what utility-driven projects are out there.
One thing to look out for is the uniqueness of the project and art. You will find NFT art with slight spinoffs from previously popular projects, and for the most part, these should be avoided.
Always look to see who the artist is, is the project hand-drawn or generative, is their utility involved, and is the project owner verified on the marketplace of sale (though this at times does not mean much).
It is not always easy to determine what makes a great NFT project or a worthy investment. When choosing the best NFT projects in 2022, we assembled projects that were more than just artwork (called Utility NFTs).
Utility NFT’s are those that assign a use to the piece of artwork, such as access to an event, exclusive in-person membership, or assets in a game. When deciding what to look for with your first purchase of an NFT, find a utility project that you would benefit from. For example, Crypto Barista’s is a coffee-themed NFT project that funds a café in NYC while giving caffeinated perks back to the holders (such as discounted coffee, free drinks, and more). VeeFriends is another Utility NFT that provides access to a multi-day super conference. Both of these NFT’s hold value beyond the artwork, which makes the purchase more sound.
As we monitor the NFT space in 2022, we will continue to add to our Top 20 Best NFT Projects to Follow list and ensure to have the latest and greatest project.
Until then, catch up on some of our other reading regarding NFTs.