Non-fungible tokens (NFTs) have transformed the digital frontier, ushering in a new era of possession, innovation, and value. Artists, gamers, collectors, and investors have all been captured by the allure of these digital commodities.
Many NFT projects have been launched, but a special few have risen to the top and have proven that this new technology has the potential to change the way we look at digital content.
This article discusses the 10 top NFT projects on the blockchain, how they work, and what makes them unique in the quickly changing NFT world. If you are new to the world of NFTs, you can read our guide about digital collectibles and how to create NFTs.
What Are NFTs?
Non-fungible tokens, or NFTs, are digital cryptographic assets stored on a blockchain. They’re often compared to digital passports because each NFT has unique, non-transferable identification codes that set them apart from one another. This distinct coding simplifies the transfer of tokens between owners and helps verify ownership.
Originally emerging from the digital art scene, NFTs now encompass a wide range of categories, including music, sports highlights, video games, real estate, fashion, trading cards, event tickets, memes, and more. Notably, Jack Dorsey, the CEO of Twitter, sold his first tweet as an NFT in 2021.
While NFTs and cryptocurrencies share some characteristics, they also have key differences. The primary distinction is that cryptocurrencies are fungible—one Bitcoin is equivalent to another Bitcoin. Same with fiat currencies where one US dollar is equal to another.
In contrast, NFTs—as their name implies—are non-fungible, meaning each one is unique and not interchangeable with another. This is similar to fiat currencies like the US dollar, where one dollar equals another.
Additionally, NFTs are extensible, meaning that it is possible to combine two NFTs to create a new, unique one—a process known in the cryptocurrency world as “breeding.” The value of each NFT is determined by market dynamics.
10 Most Popular NFT Collections To Know In 2024
As noted in the introduction, there are now many NFTs in the market. However, when it comes to popularity, the following projects stand out:
CryptoPunks
CryptoPunks are a collection of 10,000 (6,039 male and 3,840 female) unique pixel art characters created on the Ethereum blockchain by Larva Labs in 2017, 6,039 male and 3,840 female.
The CryptoPunks art project is a very simple and unique one, the idea being that there are no two punks alike, and characteristics or traits include varying skin tones, hairstyles, and accessories. They’ve since become an almost cultural icon in the NFT world and are generally considered the beginning of the modern NFT movement.
The technology behind them has exerted significant influence on many other NFT projects, and their usage of Ethereum’s smart contracts has become the standard by which NFTs are created, purchased, and sold. This unique modus has led to brand partnerships and also more exploration and extension of the NFT world.
The rarity of certain character traits in the CryptoPunk collection adds another element of cultural and monetary value to the idea. For example, punks that have “alien” or “zombie” attributes are much rarer than others, often making them highly coveted, with some selling for millions of dollars.
This scarcity-based pricing model has even gone on to impact the overall design philosophy of other NFT projects, most notably as it relates to the value of limited edition and rare feature NFTs.
Having a CryptoPunk has become a sort of status symbol in the NFT world. Even celebrities and other “big shots” have bought into the CryptoPunks project, thus adding to their overall cultural impact.
As of 2024, CryptoPunks continue to attract high-value transactions. Like previously, recent sales have seen some Punks also fetch millions. Institutional investors and high net-worth collectors have recently become more and more interested in them, which has further solidified their place as one of the hottest commodities on the NFT market.
CryptoPunks have the advantage of having a whole community of collectors that interact both on social media and other forums where they share collections and discuss trends. Members always put their punks on their Facebook, Twitter, and other social media pages as profile pics.
Besides the internet, CryptoPunk enthusiasts meet up at events like NFT and blockchain conferences, among others. These gatherings allow for the owners and any other fanatics to meet in the flesh, bond over their love of digital art, and speculate about the future of NFTs.
NFT.NYC and ETHGlobal are examples of conferences that always have some panels or discussions about CryptoPunks.
Sure, there will always be the “new and improved” NFT projects that will grab the spotlight, but the historical value, cultural impact, and brand recognition that comes with CryptoPunks will keep them relevant in the game for years to come.
With the NFT market constantly changing, CryptoPunks should continue to rank among the standard bearers for both artists and collectors.
CryptoKitties
CryptoKitties is the creation of Axiom Zen, a Canadian tech firm, and launched on the Ethereum blockchain in November 2017. The game allows users to collect and breed virtual cats, each represented as a unique NFT. Each CryptoKitty has its own unique attributes, including fur color, eye shape, and more.
Those involved in gameplay are free to buy, sell, and breed their CryptoKitties via the Ethereum blockchain. When two CryptoKitties are bred, the offspring inherit traits from both parents, resulting in new and unique CryptoKitties. This breeding system adds a sense of strategy/competition among players trying to breed the rare combinations and build up their collection.
CryptoKitties is one of the first NFT projects to find success and contributed greatly to the growing popularity of digital ownership. The game became extremely popular just a short time after its release, resulting in a large spike in Ethereum network activity, with users striving to get their hands on these now highly sought-after digital pets.
The high volume of CryptKitties transactions caused the gas fees and transaction times to skyrocket, which in turn sparked discussions about Ethereum’s scalability issues and other blockchain limitations.
At the peak of their demand, one CryptoKitty cost over $170,000, an indication of the NFT market’s speculative nature and the extent to which collectors are ready to spend in order to own a unique digital asset.
In addition to being economically successful, CryptoKitties has taken the world by storm culturally as well. It has opened the door for future NFT projects and has set a standard as to how digital collectibles should operate.
CryptoKitties also focuses on community engagement, with players forming clubs, bulletin boards, and parties to talk about their kitties and give advice. Like CryptoPunks, its success also added some steam to the NFT ecosystem, leading to more platforms and marketplaces.
Bored Ape Yacht Club (BAYC)
Launched in April 2021 by Yuga Labs on the Ethereum blockchain, BAYC features 10,000 unique cartoon ape NFTs, each designed to have distinct traits or characteristics. The project’s use goes beyond just digital asset ownership and into merchandise, partnerships with various brands (celebrities, influencers, etc) for increased visibility, and possibly into metaverse experiences as well.
BAYC has not only quickly risen to fame but also has done an exceptional job at promoting socialization and building a lively community. It only takes one ape to join its bubbling community. The active BAYC community has conferences, parties, art galleries, virtual meetups, and even a musical festival, which adds a lot of social impact to the project.
This wide spectrum of activities and a sense of community has helped the project grow and expand its membership base to become a lifestyle brand for collectors. High-profile BAYC owners have, at one time or another, publicly showcased their apes, elevating their relevance in popular culture.
Just like the previously mentioned NFTs, BAYC has also shown just how much money NFTs can bring in. Many Bored Apes have experienced a dramatic appreciation in value since their initial sales. To sum it up, BAYC is in a good position to remain a key player in the NFT marketplace due to its community-driven nature and constant innovations.
Art Blocks
The Art Blocks NFT platform focuses on generative art, enabling artists to create algorithms that produce unique art pieces. One feature of the platform is allowing collectors to purchase art in advance, even when the final output is yet to be determined.
This adds an element of surprise dimension, which can make for a more exciting shopping experience. Art Blocks was created by Erick “Snowfro” Calderon and released in November 2020. It is based on the Ethereum blockchain.
The fact that the platform is on-demand and curated means that only outstanding, mind-stirring works are shown. It has become such a popular project that some of the pieces sell for hundreds of thousands of dollars.
Fidenza” and “Ringers” are a few examples of some of the most recognized pieces of Art Blocks, and they have contributed significantly to the recognition that algorithmically produced art is gaining in the world of NFTs.
The Art Blocks community itself is quite active, consisting of artists and collectors alike who are passionate about art and the technology behind it. They host a variety of events, including exhibitions and discussion forums that bring together artists, collectors, and other stakeholders. These help promote understanding and love for generative art, further boosting Art Blocks’ status in the NFT landscape.
Axie Infinity
Axie Infinity is a game that involves players collecting, breeding, and battling with creatures known as Axies. It was created by Sky Mavis, a Vietnamese tech company, and was released in 2018. It has now become one of the prime examples of gaming intersecting blockchain technology.
Axie Infinity is built on the Ethereum blockchain, so to make it more scalable and to lower transaction costs they also use a sidechain known as Ronin.
Every Axie is an NFT, and players can make crypto just by playing. It runs off of its own tokens, AXS and SLP, which those that earn them can turn around and sell for actual money.
Axie Infinity is credited with making the play-to-earn model popular. The model enables players to actually make money from playing the game.
Its play-to-earn concept has allowed it to amass millions of players worldwide and has sparked intrigue and debate over whether or not blockchain gaming is financially sustainable. For example, in Southeast Asia, the game has grown into a livelihood for many players.
One of the games’ Indigenous tokens, AXS, peaked at a market capitalization of billions of dollars, a testament to the money-making capabilities of blockchain games.
Axie Infinity has evolved a dedicated community of players and collectors. The game’s social features encourage collaboration and competition, fostering a sense of belonging among users.
The community has also been involved in various programs, including tournaments and charity events, which enhance player interaction and bonding.
Decentraland
Decentraland was created by the Decentraland Foundation team, which Ari Meilich and Esteban Ordano co-founded. It started in 2017 as a virtual reality world where people can purchase, trade, and construct on virtual land.
It is among the first platforms of its kind in the metaverse, with digital real estate, gaming, and socializing all rolled into one. Decentraland runs on the Ethereum blockchain and uses smart contracts to handle land ownership and other assets in its virtual world.
The land in Decentraland is tokenized as NFTs, allowing users to truly own their virtual properties. Decentraland has shown how virtual real estate can be a huge thing, with the market for virtual land booming and some plots going for millions of dollars. With its strong digital economy, Decentraland continues to appeal to gamers, companies, and artists.
Decentraland’s community operates on a decentralized governance model, meaning users can vote on major development decisions about the platform.
This approach fosters a sense of ownership and responsibility among users, encouraging active participation in the platform’s evolution. The community regularly hosts virtual events, conferences, and other social gatherings.
NBA Top Shot
Developed in October 2020 by Dapper Labs, a Canadian technology company, NBA Top Shot is a platform for buying, selling, and trading officially licensed NBA collectible highlights, known as “moments.”. Each moment captures a significant play, allowing fans to own a piece of sports history.
It officially launched in October 2020 and runs on the Flow blockchain, which was also created by Dapper Labs in order to support more scalable and user-friendly applications. NBA Top Shot has popularized the concept of digital sports collectibles, providing fans with a new way to engage with their favorite teams and players.
Over time, it has managed to attract a very eclectic crowd, not just the usual collectors but also basketball fans and other kinds of NFT collectors alike. Through forums and social media sites like Discord, fans discuss strategies, show off their collections, and cheer for their teams and favorite players.
NBA Top Shot hosts various challenges and events that encourage community participation, such as completing set challenges to earn rewards or exclusive moments. A lot of the members of the community post tutorials, share market insights, and offer advice to new users. These help to build up a knowledge base and enhance understanding of NFTs on the platform.
NBA Top Shot is so easy to use and get into that it has become the entry point to NFTs for many. It has recorded its fair share of financial success as well as some moments have been sold for hundreds of thousands of dollars.
The popularity of this platform has allowed other professional sports league organizations to look into NFTs, which in turn has opened up this digital collectibles market even more.
The Sandbox
The Sandbox is a game developed by Pixowl, a gaming company founded in 2012. The game was officially launched in 2021. It is mainly built on the Ethereum blockchain and operationally works by allowing users to create, own, and monetize digital assets and experiences as NFTs.
Apart from being Ethereum-based, the game also uses the Polygon network for better scalability and lower transaction fees.
Speaking of gameplay, players can develop, possess, and profit from game experiences and assets, all in the form of NFTs. The Sandbox has established itself as a frontrunner in the metaverse idea, blending gaming with blockchain technology and promoting user-created content.
Its focus on user-created content enables users to create their own games and experiences in their own virtual real estate. This kind of model promotes creativity and entrepreneurship and allows users to add to the ecosystem of the platform.
The Sandbox has also raised a lot of money through funding rounds, including a $93 million round in late 2021, so there is certainly interest in the project. Parcels were going for over $2 million, with major brand partnerships contributing to rising land values.
The Sandbox community is active and vibrant, with users participating in contests, discussions, and other activities. This communal engagement encourages collaboration among creators and players.
World of Women (WoW)
World of Women (WoW) was created by Yam Karkai and a group of artists and makers. The project launched in March 2021 and operates on the Ethereum blockchain. It is a collection of 10,000 unique female avatars, hand-drawn, each unique, each expressing specific characteristics and particular styles.
World of Women (WoW) has made headlines for its mission to promote female representation in the NFT space.
It has added to the dialogue of inclusivity, representation, and empowerment in the digital art world, shedding light on the necessity for diversity. By focusing on the female artist, the project has created a precedent for other NFT projects to follow.
The maiden World of Women NFTs made a lot of money; some individual pieces went for hundreds of thousands of dollars. The entire set has sold millions.
WoW is really catching on with its community building and philanthropy. A percentage of the profits go to fund charities that help empower women, a philosophy that appeals to collectors who appreciate feminist and diversity-oriented art.
Apart from raising money, this loyal community of patrons and collectors also helps facilitate events where discussions are held about women’s presence in the NFT world and more.
Pudgy Penguins
Pudgy Penguins is a collection of 8,888 unique cartoon penguin NFTs that have gained popularity for their cute designs, as well as active community involvement. The project was developed on the Ethereum blockchain by a team that includes founders Luca Netz, Cole Bolton, and others. It was launched in July 2021.
The collection has seen considerable trading activity. Individual Pudgy Penguins have sold for impressive amounts, and with total sales have often reached millions of dollars.
Pudgy Penguins hosts various events, including contests and giveaways, which help maintain engagement and excitement among members. The project’s emphasis on community-driven initiatives has contributed to its popularity and positive reputation.
The Pudgy Penguins community is very philanthropic and uses their influence to raise money and spread awareness for many different charities. This pledge of “giving back” has caught the attention of collectors and has added much more appeal to the project.
The Pudgy Penguins craze has continued to increase, and many collectors want these cute NFTs. The Pudgy Penguins team has some future developments in mind, possibly games, merchandise, and other utilities for NFT holders.
How To Choose The Best NFTs To Invest In?
Like in every other investment, there should be certain considerations before committing your resources to an NFT project. Here are some of them:
- Invest in NFTs that resonate with you personally. Passion for a particular project can lead to better long-term holding decisions, as you’re more likely to stay engaged.
- Review past sales data to understand how the NFT or collection has performed over time. This can provide insights into trends and potential future value.
- Compare the market cap of a project with similar NFTs to gauge its relative size and market positioning. A higher market cap generally indicates a more established and potentially stable project. However, be cautious of overly inflated market caps, as they can signal a bubble.
- Similarly, a higher 24-hour trading volume can signal strong demand and interest, suggesting that the NFT may be a good investment. Conversely, low trading volume might indicate a lack of interest or liquidity, making it harder to sell later. Look for projects with consistent trading volume over time, as spikes can sometimes indicate speculative interest rather than sustained demand.
- Assess the rarity of the NFTs within a collection. Limited editions or unique pieces often hold higher value due to their scarcity.
- Choose NFTs from reputable marketplaces with strong security measures, user-friendly interfaces, and good community engagement.
How To Buy NFTs In 2024
- Pick a marketplace: Start by choosing a good NFT marketplace. OpenSea, Rarible, and Foundation are popular options. Remember, each one might focus on different kinds of NFTs.
- Set up your digital wallet: You’ll need a wallet that can hold both NFTs and cryptocurrencies (such as MetaMask or Coinbase). Make sure it works with the marketplace you picked.
- Buy cryptocurrency: Get some Ethereum (ETH) or other necessary cryptocurrencies from exchanges like Coinbase or Binance. You’ll need this to buy your NFTs.
- Connect your wallet: Link your digital wallet to the NFT marketplace. Usually, you’ll have to confirm a transaction to show you own the wallet.
- Browse NFTs: Look through the marketplace for NFTs that catch your eye. You can search by category, price, or how popular they are.
- Make your purchase: Once you find an NFT you like, you can buy it right away or place a bid if it’s an auction. Just follow the on-screen steps to finish the transaction.
- Confirm your ownership: After buying, the NFT will show up in your wallet. You can find it in the NFT section.
- Stay updated: Keep an eye on the market and see what others are saying. This way, you’ll be ready to know when it’s a good time to buy or sell.
Conclusion
NFTs are helping transform art digitally. Their leveraging of blockchain technologies especially, has made them a lot more popular. Increased popularity has also led to significant financial gains and greater competitiveness.
While the Ethereum blockchain remains dominant in the NFT scene, other networks are making inroads as well. With a new year on the horizon, trends to watch out for include more mainstream adoption and sustainability efforts, among others.
FAQs
What is the biggest trend in NFT?
The main trend in NFTs is their growing use beyond just digital art. They are now being used in gaming, virtual real estate, and as special access tokens for unique experiences.
Which crypto is best for NFT?
Ethereum is widely seen as the best cryptocurrency for NFTs.
What sets Ethereum apart in terms of NFTs?
Ethereum is unique because it has strong, smart contract features, many NFT projects and marketplaces, and a supportive community, making it the preferred choice for many NFT creators and collectors.
What is the most popular NFT?
CryptoPunks are often mentioned as the most popular NFTs because they were among the first and have sold for very high prices, making them famous digital collectibles.
What’s the most popular NFT marketplace right now?
Right now, OpenSea is the top NFT marketplace. It provides a large selection of NFTs in different categories and is easy to use for buying, selling, and trading.
How do you choose a blockchain for NFT?
When picking a blockchain for NFTs, think about transaction fees, speed, security, environmental concerns, and the community or ecosystem you want to be part of.
