The metaverse boom has led to a surge in popularity of NFTs, and many people predict that they will dominate the digital world in the near future. According to a survey conducted by blockchain specialist site Chainalysis, more than $44.2 billion worth of cryptocurrencies were spent on NFTs alone in 2021.
As more people become aware of the potential earnings that investing in NFTs can bring, their popularity is expected to continue rising in 2023. Many artists are now releasing their best works as NFTs in the hopes of gaining recognition and rewards. Similarly, buyers are seeking out projects that offer the most value for their investment portfolios. This guide will review the best NFT projects that could potentially yield a high ROI.
While all the projects mentioned in this post are popular within the NFT community, they differ greatly from one another. Factors such as the time of launch, use case (if any), platform traded on, and blockchain used can vary from project to project. In this post, we will categorize the Best Ethereum NFT Projects In 2023.
Ethereum is an open-source, decentralized blockchain. Ethereum, which was first launched in 2013 by programmer Vitalik Buterin, has evolved to become one of the more well-known Blockchains, if not the most. The ETH native cryptocurrency is another feature of Ethereum. The sole cryptocurrency market leader after Bitcoin in terms of the current value is ETH.
One of the most popular NFT games on the market is Axie Infinity. Since its initial release in 2018, the game has gained a massive fan base of 2 million users as of 2021. Sky Mavis’s Axie Infinity is both a single-player and a multiplayer online game. Axie Infinity is a trading war game in which players train and grow Axies.
Axies are NFTs, and users may earn tokens on the Ethereum network by playing the game. Because of its massive player population and excellent gaming mechanics, Axie Infinity is now one of the top NFT games on the market. Axie Infinity will improve even more in 2023 as more users adopt NFT gaming, so you should check it out!
NBA TopShot is a marketplace where NBA fans may exchange what are known as NBA Moments NFTs. NBA Moments are video snippets that serve as highlights of NBA games. NBA Topshot is well-known in the NBA world and has sold over $230 million in NFT cards, making it one of the largest marketplaces for NFT cards.
The NBA collaborated with Dapper Labs to develop the platform, which has become a household brand among NFT aficionados. Despite recent controversies, the platform is expected to develop further in 2023, consolidating its position as a prominent player in NFT cards.
Decentraland is a completely 3D virtual online place. The platform, which is based on the Ethereum blockchain, has made waves since its launch in early 2020. At its foundation, the website allows users to purchase land parcels using MANA, the platform’s in-house cryptocurrency. Decentrlands virtual world is one of the first completely completed decentralized virtual worlds, with players able to purchase land and explore it at their leisure.
Similarly, the site employs DAO mechanics (Decentralized Autonomous Organisation). Through smart contracts, the DAO offers its users entire control over Decentraland’s decision-making processes, allowing them to build its reality.
Gods Unchained is another massive Ethereum NFT project that has witnessed tremendous progress in the recent year. Gods Unchained is a free-to-play NFT game in which players have unlimited control over their in-game assets.
Gods Unchained is a deck-building game that works similarly to Axie Infinity in that you may buy, construct, and sell cards. Gods Unchained, a game that aims to reinvent the genre, was created by former Riot Games and Google employees.
Another well-known Ethereum NFT project is CryptoKitties. CryptoKitties was one of the first projects to incorporate Blockchain in games when it was published in 2017. Dapper Labs created the game, which was a tremendous success when it was published. To this day, the project is extremely popular and one of the most well-known NFT initiatives.
In a nutshell, CryptoKitties includes the breeding, collection, and management of virtual cat NFTs. The game was crucial in getting things started and has a bright future. As the rivalry for NFT gaming heated up in 2022, we should anticipate CryptoKitties to continue to rise.
The Bored Ape NFTs are among the most valuable and well-known NFTs on the market. Since their first release in April 2021, the value of Bored Apes has risen, with some fetching millions. Bored Ape Yacht Club is reported to have grossed $1 billion in sales.
Bored Apes recently managed to flip CryptoPunks in value, surprising the NFT community. Celebrities such as Jimmy Fallon have acquired the well-known NFT Apes. Comedian Kevin Hart just paid $200,000 for a Bored Ape. Apes that are bored are taking over the NFT scene. Bored Apes was projected to grow more valuable in 2022 as they strive for NFT dominance with their NFT adversary CryptoPunks.
Cryptodads is an NFT project comprised of 10,000 randomly produced NFTs depicting fathers going through a mid-life crisis. The NFTs are amusing in design and are popular among NFT fans.
Cryptodads’ value rose from 0.07 ETH to 1.2 ETH in October of last year, resulting in almost $30 million in sales. In 2022, we anticipated seeing more from Cryptodads as its price rises and the project’s fan base grows. As a result, 2023 might be an even better year for the project.
CryptoPunk NFTs, like Bored Apes, are quite valuable. Since its inception in 2017, the project has evolved into one of the most sought-after Ethereum NFT projects on the globe. There are already over 10,000 CryptoPunks, each with distinct qualities that range in rarity.
The project’s worth has risen rapidly over the years, with one CryptoPunk fetching an eye-watering $532 million.
Similarly, during the previous several months, the project has been dethroned as the most valuable NFT collection by Bored Ape Yacht Club, with the Apes turning Cryptopunk.
It will be fascinating to see if CrytoPunks can outperform Bored Ape in 2023. As a result, you should keep a watch on CryptoPunks this year.
Ethermore is a blockchain role-playing game and “developing fantasy realm built on the Ethereum network,” as described earlier on HackerNoon. Ethermore is a text adventure game where character NFTs are employed as player characters, however additional game development is in the pipeline.
Users may access a quest library by connecting their Metamask wallet, which stores their Ethermore character tokens, and choosing which character to use as their “primary.”
Every quest option is irreversible, and every significant choice a player makes in-game affects the metadata of their NFT character.
The Sandbox is arguably the most well-known virtual reality experience and online game created on the Blockchain. It is a virtual Metaverse that is supported by a community and that enables Blockchain gaming and asset monetization for producers.
The Sandbox lets you buy virtual properties known as LAND through LAND sales and has its own coinage called SAND. Similar to that, The Sandbox features its own NFT market where you can purchase NFTs and utilize them in-game.
Owners of the highly sought-after virtual asset LAND can utilize it as they choose. They can utilize it for a variety of purposes, including hosting games and product advertising. Even businesses are on the LAND buying bandwagon. With more players adopting The Sandbox, its NFTs, and its LAND owners, 2023, therefore, seems to be a significant year for the Metaverse game.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
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