Before I discuss blue chip NFTs, it is important you know what NFTs are and their use cases.
NFTs (non-fungible tokens) are unique digital assets linked to physical or virtual content, representing ownership, community membership, and authenticity. In games, these assets allow players to own the unique virtual items they buy, and they can sell them as they please.
What’s a Blue Chip NFT?
In TradFi(traditional finance), a blue chip is a financially stable and well-established company that has the ability to run profitably even in harsh economic conditions. Many consider blue-chip stocks to be relatively safe and stable investments. However, they’re unlikely to produce higher returns than risker investments. The same is true of blue chip NFTs.
Here are Some of the Most Popular Blue Chip NFT Collections
Created in 2017 by Larva Labs, CryptoPunks is one of the earliest NFT collections built on the Ethereum blockchain and features 10,000 pieces. Holding one of these NFTs makes you the sole owner of a unique pixel avatar.
Believe it or not, Larva Labs first released CryptoPunks for free as an experiment. At the time, Ethereum wallet users collected 9,000 CryptoPunks while the creator retained the rest.
The collection’s trading volume gradually increased until 2021, when the demand for these unique digital collectibles skyrocketed. As a result, the prices for CryptoPunks surged significantly. Today, a CryptoPunks NFT that was once issued for free sells for over $100,000.
Like CryptoPunks, the Bored Ape Yacht Club collection also comprises 10,000 unique NFTs. Prominent crypto firm Yuga Labs is the creator behind the collection.
Owning a Bored Ape Yacht Club NFT makes you a member of the “Club” and comes with several benefits. According to data from CryptoSlam, Bored Ape NFTs saw $700 million in trading volume in January last year. These NFTs are being used as Twitter NFT avatars by famous musicians, actors, and athletes, among others.
Doodles were designed by Burnt Toast in early 2021 before launching in October of the same year. The collection features 10,000 NFTs. Owners of Doodles have the right to vote for activations and experiences catered for by Doodles Community Treasury.
Last September, the NFT project unveiled musician Pharrell Williams as Doodles’ Chief Brand Officer. That month, Doodles NFT sales increased by 1,300% to $705 million.
Azuki NFTs were among the hottest digital collectibles launched in 2022. The Ethereum-based NFT project debuted in January of that year, and by March, its secondary sales had crossed $1 million. The NFT prices also surged massively, with Azuki #9605 selling for $1.4 million to become the collection’s highest sale at the time.
Twin Flames is a project launched to honour Justin Aversano’s twin brother, who, unfortunately, lost his life in Utero. The NFT collection contains 100 pieces, each featuring a different twin set.
Twin Flames have attracted popular collectors, including Gary Vaynerchuk and Snoop Dogg. In October 2021, the collection generated $13 million in trading volume. That year, a Twin Flames NFT sold for over $1.89 million.
CryptoKitties is a project built by Dapper Labs on the Ethereum blockchain. Since its launch in 2017, CryptoKitties has grown to become one of the most popular NFT collections. But its popularity did damage to the Ethereum blockchain. At the time, CryptoKitties brought a lot of traffic to the network, preventing other projects on the blockchain from approving transactions fast.
However, the NFT project has since moved to a dedicated blockchain called Flow.