NFTs are used to represent and prove ownership of unique,non-transferable digital items such as artwork, songs, films, and games, among other things. The concept of NFTs originated in 2015, with the first projects launched in 2017.
A recent CNBC research shows that nearly half of millennial millionaires have at least 25% of their wealth in digital currencies. With the cryptocurrency boom, many new millionaires have started looking for other digital assets that hold value to invest their gains.
NFT tokens have gained such popularity because they’re easy for users to understand. They understand what they’re buying and what its value is. That’s what’s usually missing when one thinks about whether or not to invest in cryptocurrency. The popularity of NFT tokens shows that people are ready and willing to work with cryptocurrency.
Alexander Althausen, CEO of StormGain | beINcrypto
NFTs have become one of the hottest crypto trends of 2021, with some projects selling for millions of dollars. NFTs allow online assets to have verifiable scarcity, making them desirable to collectors, artists, and other vendors. The current trend is mainly for digital assets, including GIFs, songs or videos, and images.
Art Blocks with 25562 sales, totaling $234 million.
CryptoPunks with 691 sales, totaling approx. $175 million.
BoredApeYachtClub with 1607 sales, totaling approx $74 million.
We have gathered a list of 304 hot NFT projects in August 2021 you should know.
Bored Ape Yacht Club (BAYC)
Yuga Labs created Bored Ape Yacht Club project of 10,000 collectible NFTs. The project consists of Cartoon apes with various characteristics and rarities. Currently, Bored Ape Yacht Club NFTs can only be bought on a secondary market. Upon release price of each ape was 0.08 ETH. Today, prices range from 2 ETH up to 100s of ETH, with Bored Ape #3749 being sold for 400 ETH (approximately $1.29 million) this month. Bored Ape Yacht Club operates on a .com extension domain name BoredApeYachtClub.com, they have also secured the acronym BAYC.COM making it even easier for fans to reach them.
On Saturday night, 28th of August, Bored Ape Yacht Club released 10 000 new Apes sold for less than an hour for about $10,000 each. Now, the NFTs are reselling for several times more. BAYC had further airdropped for free to existing holders of the NFTs 10,000 vials of mutant serum that transform existing bored apes into mutants.
American studio Larva Labs developed the CryptoPunks project. CryptoPunks were initially released in 2017 as one of the first non-fungible tokens on the Ethereum blockchain. The collectibles were limited to 10,000 Punks, with each punk being algorithmically generated. Human Punks are the most common, but various other species are also present as apes, zombies, and alien Punks. The Zombie CryptoPunk #7252 was recently sold for an astonishing $5 М, making it the most valuable Zombie CryptoPunk and the fourth most valuable CryptoPunk overall. Larva Labs has listed the CryptoPunks under a particular category on their website larvalabs.com/cryptopunks. The exact brand match CryptoPunks.com seems to not be in use.
Meebits is another project of Larva Labs. The Meebits are 20,000 unique, algorithmically generated 3D voxel characters registered on the Ethereum blockchain. Meebits #17522 NFT was sold for 1,000 ETH, or $2.1 million, making it the highest-priced Meebit in the collection. Larva Labs provides more information on Meebits on their website meebits.larvalabs.com and has secured the exact brand match Meebits.com.
Erick Calderon founded the Art Blocks platform as an Ethereum-based NFT project that generates original digital artwork pieces. Art Blocks is featuring three types of unique projects Curated, Factory and Playground. Ringers #879, the most expensive Art Blocks piece on the market, sold to Three Arrows Capital for around $5.8 M. Art Blocks uses a .io extension domain name Artblocks.io.
More than half of the companies on the list (161 out of 304) have chosen the .com extension for their online presence, with 135 using an exact brand match domain. The second most popular extension is the .io, commonly used among technology startups as an acronym for input/output. It is noticeable that there is a variety of domain extensions on the list. A potential explanation could be the speed at which NFT projects are developing and the wide range of topics and interests they cover. Another factor could be the fact that NFTs sell on marketplaces, so their websites are used mostly as basic presentations of the projects. It will be interesting to see how this evolves as NFTs develop as member communities with their own rules, specifics, and features, exclusive to NFT owners. Currently, the community element of those projects is mostly covered with social media and Discord channels.