The digital landscape is evolving at an unprecedented pace, with Non-Fungible Tokens (NFTs) standing at the forefront of this revolution. These unique digital assets, underpinned by blockchain technology, have become a confluence point for creativity, innovation, and value creation.Within this diverse and expanding terrain, a specific category of NFTs has emerged as the gold standard — the blue-chip NFTs. These NFTs, much like their counterparts in the traditional finance sector, the blue-chip stocks, are recognized for their prestige, stability, and potential for long-term value appreciation.As we have explored the concept of blue-chip NFTs, it’s now crucial to understand their evolution and how they have shaped the digital asset landscape. The rise of blue-chip NFTs is a testament to the increasing acceptance of NFTs as a form of digital art and collectibles, and a reflection of the maturation of the NFT market.<h2 id="header-0">Decoding Blue-Chip NFTs</h2>The term ‘blue-chip’, originating from poker where the highest value is attributed to blue chips, has been adopted in the NFT arena to denote digital assets that are esteemed as the most valuable, dependable, and prestigious. These NFTs are distinguished by their quality, potential for long-term value appreciation, and a certain level of desirability within the NFT community.Similarly, blue chip NFTs are NFTs considered high value and low risk, with a track record of price stability and growth. They are NFTs that have established themselves as leaders in their respective categories and have gained widespread recognition and popularity among collectors and investors<h2 id="header-1">The Emergence of Blue-Chip NFTs</h2>The birth of blue-chip NFTs can be traced back to the launch of CryptoPunks by Larva Labs in 2017. As one of the first NFT projects on the Ethereum blockchain, CryptoPunks set a precedent for the creation of unique, digitally scarce assets. The project’s success sparked interest in the potential of NFTs, paving the way for the emergence of other blue-chip NFT collections.The year 2020 marked a significant milestone in the evolution of blue-chip NFTs. The onset of the COVID-19 pandemic led to an explosion in digital content consumption, which in turn fueled the NFT boom. This period saw the rise of several blue-chip NFT projects, including Bored Ape Yacht Club and NBA Top Shot. Their success demonstrated the increasing appetite for digital collectibles and the potential of NFTs as a new form of asset ownership.<h2 id="header-2">What Makes an NFT a “Blue Chip”?</h2>While not every digital artwork with these characteristics is considered “Blue Chip”, the ones that are usually have the following features:1. Past Worth (Lowest Selling Price and Amount Sold) A major feature of top-quality digital artwork is their past worth. This means the lowest price the artwork has sold for and how many times it’s been sold. To be considered top-quality, the artwork needs to have consistently increased in value over time. Plus, it needs to have sold many times, indicating that many people want it. These artworks also often have a high total value, showing how valuable the artwork is.2. Fame (Famous People / Celebrity Support) The second feature of top-quality digital artwork is fame. Top-quality digital artworks are often linked with famous people or celebrities, which makes them seem more valuable. For example, a digital artwork from a collection that includes a famous artist or musician like Justin Bieber is more likely to be considered top-quality than one owned by a regular person. Being linked with a famous person adds prestige and credibility to the artwork, attracting more buyers and investors.3. The Creators (Who They Are / Their Reputation) The creators of a digital artwork also play a key role in its quality. The people behind a top-quality digital artwork, including the artists, developers, and advisors, often have a good reputation in the industry and a proven track record. This shows that the artwork is supported by a team of experts with the skills and experience to ensure its success.4. Plan (Usefulness) The plan of a top-quality digital artwork is another important feature to consider. The artwork must have a clear and practical use, such as unlocking exclusive content, getting into special events, or joining exclusive groups. The artwork must also have a solid purpose and show a clear plan for success with detailed steps on how to achieve it, indicating a promising future.5. Supporters (How Strong is the Support?) Lastly, the strength of the supporters of a top-quality digital artwork is also a defining feature. A top-quality digital artwork must have a large and active group of collectors, fans, and investors who back it and help it grow. The supporters act as a group of promoters who willingly advertise it to ensure its success.<h2 id="header-3">Factors influencing blue-chip NFTs</h2>Various factors contribute to an NFT’s blue-chip status. These include:1. Esteemed Creators and Artists: The reputation of an NFT’s creator plays a pivotal role in its prestige. Esteemed artists, creators, or businesses often imbue their NFTs with their own credibility and appeal, enhancing their desirability in the marketplace.2. Iconic and Rare Collectibles: Some NFTs attain their blue-chip status due to their iconic or historical nature. These could be digital representations of rare physical artifacts or unique digital creations. Their rarity and exclusivity serve to enhance their value and desirability.3. Historical or Cultural Significance: NFTs that encapsulate noteworthy events or moments or represent significant periods in art or culture can also attain blue-chip status, owing to their cultural or historical relevance.4. Limited Quantity or Unique Traits: The scarcity or unique features of certain NFTs can significantly contribute to their blue-chip status. As with traditional collectibles, scarcity often drives demand and value in the world of NFTs.5. Active and Large Community: Blue-chip NFTs typically boast a large and active community of collectors and traders. This committed community not only increases demand but also adds social value and utility to these NFTs, thereby contributing to their blue-chip status.Identifying blue-chip NFTs necessitates a profound understanding of the market, astute observation of high-performing assets, and staying abreast of significant events in the NFT space.<h2 id="header-4">Spotlight on Blue-Chip NFT Collections</h2>Within the expansive NFT universe, certain collections have earned the esteemed tag of blue-chip NFT collections. These collections have consistently demonstrated high trading volumes, robust brand reputation, and strong community support. You can check the Blue-Chip NFT collections data on NFTScan:NFTScan Blue-Chip: <a href="https://www.nftscan.com/analytics/bluechip" rel="noopener noreferrer nofollow">https://www.nftscan.com/analytics/bluechip</a><img src="https://miro.medium.com/v2/resize:fit:1400/1*0O4fyynOID7USZvfscdsiA.png" />Data source: NFTScanThere are 19 blue-chips NFT collections in the NFT market, and the total market cap is 1,411,833 ETH, accounting for 20.41% of the total NFT market cap.<img src="https://miro.medium.com/v2/resize:fit:1400/1*bhIIWS8KH1_GRNHs3a4X4g.png" />Data source: NFTScan<img src="https://miro.medium.com/v2/resize:fit:1400/1*ekqTKf9PRMhY89bsLX_WfQ.png" />Data source: NFTScanSome of the most notable ones include:1. Bored Ape Yacht Club: The Bored Ape Yacht Club (BAYC) is a collection of 10,000 unique digital pictures of apes, created by Yuga Labs and stored on the Ethereum digital ledger. Each ape picture in the BAYC collection has different features and accessories, making them all unique from each other.When you buy one of these digital ape pictures, you also become a member of the BAYC club. Being a member comes with special perks, like access to a members-only digital graffiti wall, special digital pools, and the right to other digital pictures that are part of the BAYC group. This includes the Bored Ape Kennel Club and Mutant Ape Yacht Club, both of which are also among the top ten digital picture collections by total value. In 2022, BAYC was the top-selling digital picture collection, with almost $1.57 billion in sales. Famous people who own these digital ape pictures include musicians like Madonna and Eminem, and celebrities like Shaquille O’Neal.<img src="https://miro.medium.com/v2/resize:fit:1400/1*3BpPaKUDJxMzNiFjcBRHmg.png" /><a href="https://www.nftscan.com/0xbc4ca0eda7647a8ab7c2061c2e118a18a936f13d" rel="noopener noreferrer nofollow">Link</a>2. CryptoPunks by Larva Labs:CryptoPunks (PUNK) is one of the earliest collections of digital art pieces known as NFTs, created by Larva Labs. PUNK is a set of 10,000 unique digital images stored on the Ethereum digital ledger, inspired by the punk culture in London. The collection includes 6,039 male punks and 3,840 female punks. Some punks have unique features like hot lipstick, mutton chops, and 3-D glasses. When you buy a PUNK NFT, you get the exclusive rights to a unique digital character.In 2017, Larva Labs gave away 9,000 CryptoPunks for free to the public as a test and kept the remaining 1,000. Famous people who own these digital punk pictures include DJ Steve Aoki, who is working with 3LAU, another PUNK owner, on a music/art project inspired by CryptoPunks.Over the next few years, the sales of CryptoPunks steadily increased, and their demand skyrocketed in late 2022 and early 2021. In 2022, they recorded sales of $575.2 million, with the value of CryptoPunks traded on its own marketplace consistently making up 3% of the total NFT marketplace. However, even though CryptoPunks is one of the earliest NFT collections, it’s not as big as the Bored Ape Yacht Club (BAYC) in terms of total value.<img src="https://miro.medium.com/v2/resize:fit:1400/1*_fLkRs8Jx8-bBiiS8pntAw.png" /><a href="https://www.nftscan.com/0xb47e3cd837ddf8e4c57f05d70ab865de6e193bbb?module&#61;Overview" rel="noopener noreferrer nofollow">Link</a>3. Azuki: Azuki (AZUKI) NFTs are a collection of 10,000 unique digital anime-like characters. They are considered popular and valuable in the NFT world. Each Azuki NFT has different features like hair, clothes, backgrounds, and even special abilities or tools like swords and skateboards. The most valuable ones are called “Spirit” NFTs, and they make up less than 1% of the whole collection. These NFTs were created using a standard called ERC-721.Chiru Labs, a group of artists and developers based in Los Angeles, launched Azuki in early 2022. The collection has gained a lot of popularity since then. When you buy an Azuki NFT, you also become part of a special community called “The Garden.”Despite some controversies surrounding one of the founders and his involvement in questionable NFT projects, which were criticized by the NFT community, Azuki managed to overcome the challenges. It is now one of the top five NFT collections with the highest trading volume ever on OpenSea, a popular NFT marketplace. In the year 2022 alone, Azuki NFTs were sold for around $850 million.<img src="https://miro.medium.com/v2/resize:fit:1400/1*xRBFdzYC8LwA9LnEwxoq1A.png" /><a href="https://www.nftscan.com/0xed5af388653567af2f388e6224dc7c4b3241c544?module&#61;Overview" rel="noopener noreferrer nofollow">Link</a>5. Mutant Ape Yacht Club: An offshoot of the Bored Ape Yacht Club, this collection features unique mutant apes and has quickly gained traction in the NFT community.<img src="https://miro.medium.com/v2/resize:fit:1400/1*rrNHV_NJzATBvjHE4pmiIw.png" /><a href="https://www.nftscan.com/0x60e4d786628fea6478f785a6d7e704777c86a7c6?module&#61;Overview" rel="noopener noreferrer nofollow">Link</a><h2 id="header-5">Investing in Blue-Chip NFTs</h2>Investing in blue-chip NFTs, while enticing, should be approached with caution due to the volatile and speculative nature of the NFT market. It necessitates a deep understanding of market dynamics, the ability to perform due diligence, and the willingness to bear potential losses.<h2 id="header-6">Conclusion</h2>Looking ahead, the future of blue-chip NFTs appears promising. As blockchain technology continues to evolve and the understanding of NFTs grows, we can expect to see more blue-chip NFT projects emerge. Moreover, as more industries explore the potential of NFTs, from music to real estate, the definition of blue-chip NFTs may expand to include a broader range of digital assets.<img src="https://miro.medium.com/v2/resize:fit:1400/0*aWj4nPbFNDwPVJzP.png" /><h2 id="header-7">About NFTScan</h2>NFTScan is the world’s largest NFT data infrastructure, including a professional NFT explorer and NFT developer platform, supporting the complete amount of NFT data for 15 blockchains including Ethereum, Solana, BNBChain, Arbitrum, Optimism, and other major networks, providing NFT API for developers on various blockchains.Official Links:NFTScan: <a href="https://nftscan.com/" rel="noopener noreferrer nofollow">https://nftscan.com</a>Developer: <a href="https://developer.nftscan.com/" rel="noopener noreferrer nofollow">https://developer.nftscan.com</a>Twitter: <a href="https://twitter.com/nftscan_com" rel="noopener noreferrer nofollow">https://twitter.com/nftscan_com</a>Discord: <a href="https://discord.gg/nftscan" rel="noopener noreferrer nofollow">https://discord.gg/nftscan</a><a href="https://medium.com/nftscan/nftscan-launches-nftscan-connect-program-to-support-early-stage-web3-startups-1a0470698002" rel="noopener noreferrer nofollow">NFTScan Connect Program</a>

What are Blue-Chip NFTs?

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