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The non-fungible token (NFT) sector has blown up as the second large trend over the past two years, right after decentralized finance (DeFi) exploded in mid-2020. NFTs, however, brought in an entirely new batch of users, companies, organizations, and others, thanks to their potential to serve as digital collectibles.
Where DeFi offered decentralized banking and allowed people to engage with it for the purpose of earning passive income with low risk, NFTs offered something a bit more fun. Their popularity was massive, and with the launch of the next trend, which was the metaverse, NFTs were strongly involved, which allowed them to remain popular and even gain a new portion of users attracted by the metaverse’s promise of digital worlds.
As a result, we now have a mix of metaverse and non-metaverse NFT projects, both of which still hold great potential for investment. Today, we have selected our top 10 favorites among non-fungible token projects, with hopes that one or more might offer just what you need, whether to diversify your portfolio, participate in a metaverse game, obtain some digital art, or otherwise.
The first on our list is Decentraland, which is also the project that gave us one of the oldest metaverses in the industry. In fact, Decentraland’s metaverse may very well be the oldest one, which definitely gives it a first-mover advantage. The project’s metaverse offers digital plots of land, each of which comes in the form of an NFT.
By buying an NFT, you become the owner of the plot of digital land that is tied to that non-fungible token. Once it is yours, you can do whatever you want with it, including developing games, building software, creating an art gallery for your NFTs, organizing digital meetings, running an entire business, setting up events, and more.
To learn more visit our Investing in Decentraland guide.
2. Axie Infinity
In the second spot, we have Axie Infinity. Another metaverse project, Axie Infinity is actually a gaming project, featuring a vast world that is home to creatures known as Axies. Each Axie is tied to a unique NFT, and so in order to start playing, players will first have to purchase some of them. Then, once in game, players can train them, upgrade them with 500 different body parts, or breed them to make new ones.
They can then either sell the new ones to new players and earn money that way, or use their existing Axies for battling other players and defeating them, in which case they receive rewards in the form of the project’s native AXS token. Since this is an actual cryptocurrency, it can be easily exchanged on various crypto exchanges out there, while NFTs can be traded on NFT marketplaces.
To learn more visit our Investing in Axie Infinity guide.
In the third spot, we have an NFT project that has attracted quite a lot of attention. Called Silks, this is a project with a metaverse of its own, where users can own, trade, and earn rewards from horse racing. Each in-game horse has its real-world counterpart, and so all events in the game are actually based on real-world events.
The project allows users to benefit from the metaverse when the real-world horse performs well in races. More than that, Silks has managed to connect real-world gambling with earning in a decentralized way from the blockchain, which alone makes it very interesting and attractive to users.
But, that is not all that it offers, as it also allows users to buy plots of land, construct their own stables to house their digital horses, and monetize them in order to earn.
4. Lucky Block NFTs
Lucky Block is an NFT project featuring the Platinum Rollers Club NFT collection. However, Lucky Block also emerged as one of the best altcoins available, thanks to its innovative crypto-lottery feature.
The project’s NFT collection minted 10,000 NFTs hosted on BSC, each of which depicts numbered 2D tickets. Their value comes from major benefits that NFT owners receive by holding them, such as automatic entry to daily prize draws, which are worth around $10,000 on average.
There are also 25 cards that are considered Rare Editions, and those allow owners to receive double the reward if their number is selected. Finally, it is also worth noting that each person who buys Lucky Block NFTs is entered into a one-off prize draw, and can potentially win a new $300,000 Lamborghini Aventador.
In the fifth spot, we have Telos, which is a project built for two things — speed and scalability. The project’s goal is to become the network that will drive crypto and blockchain to mainstream adoption. Telos-based tokens, NFTs, and smart contracts are already being used in social media apps, DeFi, gaming, and other areas, which grants the project’s products numerous use cases.
Plus, the project features over 100 dApps that enjoy exceptional network speeds with 0.5s blockchain times, while the project can scale up to 10,000 TPS. Engaging with the project also offers other benefits, including decentralized file storage, voting, location, and more.
Next up, we have MekaVerse, which is a top NFT project that users will definitely want to be aware of. It is an anime-inspired NFT project that offers 8,888 NFTs defined as Mekas. Each of them is a piece of art based on Mobile Suit Gundam anime, which is a very popular series, and some of its popularity has already transferred to this drop.
Each piece is unique, and there are no two NFTs that are exactly the same in the entire collection. The project actually launched in late 2021, but its community grew at an impressive speed, with many members seeking exclusive events and content only available for NFT owners.
7. Meta Triads
In the seventh spot, we have Meta Triads, which is considered the best NFT project in the fashion sector. It is an interesting project that offers 10,000 digital art pieces, each of which comes with some unique benefit. The collection is split into three categories, featuring Humans, Hybrids, and Humanoids. Apart from that, there are some special NFTs designated as a Triad.
The art itself is quite appealing, and the NFTs are worth buying for the art alone. However, the team behind the project is also adding extra benefits for NFT holders, thus providing incentives and encouraging users to hold onto them.
8. Immutable X
The eighth project on our list is called Immutable X, and it is a project that describes itself as the first layer-two scaling solution for NFTs on Ethereum. The project says that its blockchain can remove Ethereum’s limitations that are holding it back, such as poor user experience, lack of liquidity, lack of scalability, poor developer experience, high gas fees, and alike.
In fact, its project offers zero gas fees, while also offering instant trading and massive scalability. With this being the case, the project allows users to create and distribute assets such as ERC-20 and ERC-721 tokens on a massive scale, which might just revolutionize Ethereum’s content, even if its own blockchain is still technologically inferior.
To learn more visit our Investing in Immutable X guide.
Nearing the end of the list, we have VeeFriends, which is an NFT project that offers a beginner-friendly way to enter the NFT market. The project offers NFTs created by Gary Vaynerchuk or GaryVee.
This is a very popular marketing guru who already has a huge social media following, and now, a collection of 10,255 unique NFTs that are available for purchase. The tokens themselves are digital art, and each of them features traits that GaryVee admires.
Finally, last but not least, we have Splinterlands. This is a digital collectible card game based on the blockchain and inspired by games such as Magic The Gathering. Like in the oldergame, players can build a collection of cards, each of which has different attributes. After that, they can battle one another in skill-based matches, with the player with a better collection and greater skill typically being the winner.
Players can buy, sell, and trade their digital assets just as they would physical cards. The project’s goal is to bring back true ownership of the cards, which players lost after games such as Yu-Gi-Oh! and Magic The Gathering stopped printing cards, and went digital.
With that, we conclude our list of the top 10 NFT projects to keep an eye on in May 2022. As you can see, the list consists of a large variety of tokens, belonging to all kinds of projects, and meant to be used for all kinds of different purposes. This is only 10 of hundreds, possibly thousands of them that are out there, and so if you wish to go beyond the ones that we recommended here — you can definitely do so. Just make sure to do your research before you start spending your money, and ensure that you know what you are doing and why you are doing it.