Top 12 NFT Projects to Consider Trying Out in 2022
The NFT sector of the cryptocurrency industry has been going strong for over a year and a half now, as of July 2022, and fortunately, it does not show any signs of slowing down. In fact, new projects are constantly emerging, the existing ones are constantly advancing and evolving, getting better, richer with features, and more. New collections are coming out all the time, and the old ones are becoming highly sought-after, which ensured some rather high prices for the most popular ones.
In other words, the NFT market is thriving, and that means that the projects focusing on NFTs are also bound to see their token prices surge. So far, that did not happen, although the fact that we are still deep in the bear market is likely the main reason for the delay. Assuming that the NFT sector will continue to grow even bigger — and there is no reason to assume that it will not — many of these tokens likely have a very bright future ahead of them. So, if you wish to give some of them a chance right now, while their prices are still low, here are some top NFT projects that we can recommend right now.
The first on our list is Flow, which is a fast, decentralized, developer-friendly blockchain meant to serve as the foundation for the next generation of games, apps, digital assets, and more. This is an L1 blockchain that was created by the same team that created CryptoKitties — Ethereum’s oldest game based on NFTs.
The project was designed to push mainstream adoption of blockchain technology and its products, such as non-fungible tokens. And, with it finally enabling the permissionless deployment of smart contracts on the mainnet earlier in July 2022, any such product can now be freely created on its network.
To learn more visit our Investing in Flow guide.
Moving on, we have STEPN — a unique project that managed to find a way to combine NFTs and health by allowing users to purchase digital sneakers that come in the form of NFTs. With them in their possession, users can simply go out for a walk or a run, and their smartphone will measure the distance they have crossed, while their digital sneaker will start generating STEPN tokens.
The project is continuing to improve its service, with the latest addition being the introduction of Health Points, which was announced earlier today.
To learn more visit our Investing in STEPN guide.
Next up, we have ApeCoin, which is a token based on Ethereum’s network that has two roles — to act as a utility token within the APE Ecosystem and to serve as the project’s governance token. As such, it allows users who hold it to use it for voting on various decisions tied to the project and help run it with the rest of the APE community.
The project is also very aware of the need to educate crypto users about safety in the Web3 environment, which is why it recently invited users to attend Boring Security’s security class today, which was organized for ApeCoin’s community, specifically.
To learn more visit our Investing in ApeCoin guide.
4. Smooth Love Potion
The fourth on our list is Smooth Love Potion — a project whose tokens are actually earned by playing the Axie Infinity game. The project’s tokens serve as a replacement for experience points, and you can use them to breed new digital pets within Axie Infinity, hence the name of the project.
Tokens are earned over time, and it noted that players might have to win as many as 15 competitions in order to gain enough tokens to perform their first breed. However, SLP can also be purchased (or sold) on the open market, which is a much easier way to get them.
To learn more visit our Investing in Smooth Love Potion guide.
5. Axie Infinity
Speaking of Axie Infinity, this is currently the largest metaverse game in the entire crypto industry. It allows users to purchase creatures known as Axies, each of which comes with its own unique NFT.
Players can then breed their creatures, strengthen them by adding some of over 500 different body parts, and then either sell them or use them to battle other players and their Axies. The winner of each match gets rewarded with experience and points and a small amount of AXS, this allowing players to earn while playing.
To learn more visit our Investing in Axie Infinity guide.
Halfway down the list, we have Gala, which is a project that aims to use NFTs to revolutionize the way the gaming industry works. These days, most people are purchasing games in their digital form rather than hard copies. As a result, they own them through apps such as Steam. The problem is that Steam still has full control over the game or any purchased in-game content, and it can take it away at any time.
Gala argues that this is not real ownership and that players are not getting what they paid for, so its plan is to tokenize everything and allow users to become actual owners of anything they purchase by becoming the owners of the NFT tied to the product.
To learn more visit our Investing in Gala guide.
7. Vulcan Forged PYR
In the seventh spot, we have Vulcan Forged PYR. Vulcan Forged is a growing blockchain game studio and an NFT marketplace, and they are the creators of a metaverse called VulcanVerse. This is a Greece-Roman fantasy metaverse made up of 10,000 plots of land, and it is only one of the Vulcan Forged platform’s products.
There is also a crypto-less and gas-free NFT engine called Anvil, a gas-free NFT marketplace Vulcan Market, and an NFT online TGG, Berserk. Meanwhile, the Vulcan token is used for fees, staking, upgrading and sustaining game asset levels, P2E rewards, and accessing the game developers and NFT dApp incubation program.
To learn more visit our Investing in Vulcan Forged PYR guide.
Moving on to the 8th spot, we have SuperFarm, which is a cross-chain DeFi protocol made to launch a new type of NFTs, that do not require programming. It also serves as a marketplace and an innovative set of tools that allow any project to deploy a farm with its own rules. The project was made to bring utility to any token by allowing it to become an NFT farm.
And, since there is no coding required, it is quite easy to set it all up. But, conceptually speaking, SuperFarm is primarily a comprehensive NFT marketplace that allows for the creation of NFTs, farming coins for NFTs, and creating ERC-20 tokens that will bind NFTs to in-game items.
To learn more visit our Investing in SuperFarm guide.
Up next, we have RMRK, which is a part of Kusama blockchain’s broader NFT strategy. The project allows users to use Kusama’s system-remark extrinsic to write custom notes on the project’s blockchain, but to do it in a structured, standardized way.
RMRK offers rather easy-to-use tools for interacting with NFTs on the command line, as well as within web apps. It also has a native token, also called RMRK, which is used as a currency in the project’s metaverse, for the prevention of fungible token spam, and many more use cases.
To learn more visit our Investing in RMRK guide.
Moving on, we have MyNeighborAlice — another metaverse game inspired by a popular game called Animal Crossing. Like in Animal Crossing, players also get their own island, with the difference being that they need to buy it from an in-game character called Alice. In return, they get an NFT that is tied to the island and it marks it as theirs.
That’s where the real game starts, and users are tasked with exploring the island, gathering resources, building items, decorating their island, and more. They can also participate in various contests in order to win rewards in the form of ALICE tokens.
To learn more visit our Investing in MyNeighborAlice guide.
Nearing the end of the list, we have Phantasma — a fully operable, decentralized, feature-rich blockchain with an innovative staking mechanism, dual token system, advanced eco-friendly smartNFTs, and sustainable tokenomics model. Today, we are primarily interested in the project’s SmartNFTs, which are NFTs with dynamic properties that can change depending on certain conditions.
This allows the developers to make dynamic in-game items decentralized as well, which is not possible with regular NFTs. That can include multi-layered NFTs, time-based NFTs, infused NFTs, and more, which can really change the use of NFTs in gaming.
To learn more visit our how to buy Phantasma guide.
Finally, we have Ternoa, which is an NFT-focused blockchain that wishes to offer the best experience for developers and users interested in NFT-driven decentralized applications. The project is quite innovative, offering the ability to store private data in NFTs, the creation of user-specified conditions for automated transfers of secret NFTs, which can then be sent from one wallet to another, sharing NFT ownership through fractionalization, and much more.
It also has a unique security model that ensures that private data stored by users within the NFT will be safe from start to finish of the NFT’s lifetime.
To learn more visit our Investing in Ternoa guide.
With the NFT market booming, there are bound to be many more projects that will present great opportunities for investors. Some of them may be immediately obvious as excellent investment opportunities, while others may only reveal themselves once the bulls return and the bear market ends. For the time being, however, we feel confident about the projects listed above. While you are in no obligation to invest in any of them, we still recommend keeping an eye on them, just in case.