Non-fungible token projects have exploded in popularity in 2021 due to the popularity of certain NFT projects.
Basically, a bunch of projects have emerged because people have realized that the projects can make a large amount of money.
We will assume that you already have a basic understanding of NFTs, so we will not bother explaining how they work. Instead, we will focus on some very promising NFT projects that have emerged in 2021.
These projects are mostly NFT games. And yes, NFT games are a little expensive to play at the moment due to the high gas fees on Ethereum.
Fortunately, that will change in a few months with the release of Ethereum 2.0.
Anyway, here are some NFT projects that have the possibility to go places in 2022 and beyond.
Best Upcoming NFT Projects
Again, these projects are mostly games because, well, games are a little more predictable then the next CryptoPunks or Bored Ape Yacht Club clone that appears on the market.
That said, some of the copycat projects will likely make a lot of money in the future. They are just hard to predict because the success of projects like that depend on how serious the team takes promoting the project off the blockchain.
We will also focus on NFT projects on the Ethereum blockchain. We know that there are some successful projects on other blockchains, but Ethereum has definitely taken the lead when it comes to NFT market share.
It just makes sense to focus on Ethereum because that’s where all the money hangs out.
Bitcolors is a unique twist on the usual NFT project. For those that don’t know, most NFT art projects revolve around, well, art.
The art does not necessarily have to be good art (ie. Crypto Punks), but it does have to be unique art.
Anyway, Bitcolors are unique because the NFTs are not artwork. The NFTs are simply unique colors sold as an NFT.
It’s an interesting idea and very unique. Both those points give it huge potential for growth because the NFT market as a whole really loves uniqueness.
This project has not even dropped yet. It’s still in the pre-release stage and the release date will be announced on October 19th.
We find this project unique enough to warrant some attention. However, it does have one downside – owners cannot change their avatar on Twitter or Discord to the NFT.
That’s a little annoying and makes promoting it difficult.
That said, the project is unique enough that we do think it has potential.
CyberKongs is not an upcoming NFT project because the original product line was dropped in March 2021.
We are still including them on the list because a lot of these projects have second releases, which can turn profitable in a few years time.
Anyway, we really like CyberKongs because it’s more than just a piece of NFT art. The CyberKongs team is working to turn the 2D models into 3D models. They even have plans to launch a game that utilizes the original NFTs.
A game would be huge because original CyberKongs could be worth quite a lot of money if the game becomes popular. Other cool features of CyberKongs include the ability for owners to farm $BANANA tokens and access to restricted Discord channels.
The project is still young, the team behind it is serious, and they have big plans. This is certainly a project that has lots of potential.
Loot is another project that already had an initial release. However, Loot is completely different from other NFTs, so we have to include it on the list.
For one, Loot NFTs are nothing more than an inventory list of items.
That’s right, Loot is literally a list of items. The NFTs are white text written on a black background.
The NFT is actually an experiment to see if a community will build a game around an NFT project.
Things have worked out so far with people turning the list items into artwork and talks of a game being created.
More importantly, only 8,000 initial Loot were created, so the founder decided to release another batch of Loot because 8,000 Loot NFTs are not enough for a very large community to form around the NFT.
Again, this project has already launched, but a second release is currently ongoing. It could turn out to be a very good speculative NFT in the event that a community does form.
Owning one of the original 8,000 NFTs would be more ideal, but owning a rare Loot NFT from the second release could prove profitable.
SadBoys is an NFT project that falls into the charitable NFT category. The basic premise is that the project will donate $50,000 to suicide prevention chartities upon selling out 10,000 NFTs.
An NFT that supports a good cause is probably a safe bet for value. It also has pretty good marketing because, well, people like talking about the NFT.
There are still some SadBoys available if you want to purchase one, too.
What Makes a Good NFT Project?
It’s hard to pin down exactly what makes a good NFT project because there have been some outliers that have gained a lot of popularity despite not meeting any of the traditional requirements (ie. Loot).
However, the general pattern for a successful NFT is the following:
- There should be a community for owners of the NFT.
- The ability to set your Twitter or Discord avatar as the NFT.
- This is for marketing and showing off purposes.
- Some sort of real life impact by the project. Owners prefer to stay anonymous, so it should be something like donating to charity.
- Bored Ape Yacht Club does this by donating to ape sanctuaries.
- Project founders from a successful project.
- Bored Ape Yacht Club launched Sneaky Vampires Syndicate last month to a lot of fanfare.
- Loot was launched by the founder of Vine. We know it’s not an NFT project, but it does show some level of knowledge about running a company and project.
Should I Buy an NFT?
Yes, you probably should buy an NFT.
Of course, you should not buy any random NFT that pops up on Reddit, Discord, or Telegram. You should research the project, the team, and the amount of attention the project receives on social media. Just be on the lookout for the founders shilling the project because that is generally considered a red flag.
Now, if you do find a project that appears like it will be hot after launch, then you should definitely mint an NFT. Super hot projects often have Ethereum gas wars that can cause the gas price to skyrocket to 0.5 ETH.
That said, a popular enough project can have a price floor of 10-15 ETH.
That would make it worth paying a high gas fee.
That covers it for some upcoming NFT projects in 2021. We covered a few projects that have yet to launch combined with some projects that continue to have more updates to them.
You probably cannot go wrong with any of the projects simply because the NFT market is so crazy at the moment. But the guidelines offered for figuring out whether an NFT project will boom or bust should still be followed to some extent to minimize risk.