NFT art has been getting more popular lately, especially among young investors. The NFT piece called “Everydays: The First 5000 Days” by Beeple sold for more than $69 million in March 2021. This event has launched the NFT art craze and put NFT investment on the map of young investors.
If you’re interested in NFT art but don’t know which artist out there has more potential of increasing your investments, continue reading this post and find out.
First, what are NFTs? NFTs are digital certificates that prove you’re the sole owner of a digital asset. This can be a piece of 3D art, a photo, a video game, a song or even a membership to an online community (eg. VeeFriends is Gary Vaynerchuk’s NFT project that allows members access to his intellectual property and business-related events like VeeCon).
NFT art is a digitalized piece of art that has been tokenized onto a blockchain. There are no physical copies of this art piece. Collectors can buy these NFTs and sell them later on to make money.
As an NFT art investor, you need to learn how to spot the best, most profitable NFT art.
According to the CEO of Appy Pie LLC, Abhinav Girdhar, an expert in AI innovations, app trends and NFTs, to spot a good piece of NFT art, you need to check the popularity of the NFT creator. If the artist is not serious enough to put their art in front of a big audience, you better skip on them. Thus, the bigger their audience, the more serious the NFT project is.
Second, is the NFT creator communicative and does he/she engage with their community? Good engagement is a positive sign. If you’re interested in a piece of NFT art that has gained a following, know that you’re not making a mistake investing in it.
The last tip would be to check the project’s roadmap. Can you see marketing goals, key milestones, and a growth strategy in place? If you do, then you’re investing in a serious NFT project.
Best NFT art projects
Mike Winkelmann (Beeple) has stitched together a collection of 5000 daily art pieces. These pieces reflect personal struggles, pop culture references but also news across the world. Beeple’s ‘Everydays’ is considered the greatest digital art work ever made. It was sold by Christie’s Art House in 2021 for $69 million.
One look at his NFT collection on OpenSea and you realize how talented he is. If you’re interested in Beeple’s work, you need to be ready to pay six figures for each piece. My personal favourite is a crucified Elon Musk suspended in space.
Pak or Murat Pak is a top-selling digital artist and programmer who created ‘The Merge’.
‘The Merge’ is a collection of NFTs that sold for $91.8 million, surpassing Beeple’s ‘Everydays’. This NFT was purchased by 29.000 NFT collectors and is considered the most expensive artwork ever created by a living artist.
Pax’s masterpiece tops Jeff Koons’ ‘Rabbit’ that was bought for $91 million in 2019. You can buy Pak’s NFTs online and choose from a variety of beautiful digital works that will soothe your senses due to their neutral shades and minimalistic design. The cheapest NFT is $236, while the most expensive is $26 million.
Crypto Punks is a project comprising of 10.000-pixel images that seem to appeal to a lot of NFT investors.
These characters display different personalities, facial expressions, facial styles and skin colour. It is noted that there are 6039 male Punks and 3840 females. This crypto project was created by Larva Labs studio in 2017 and runs on the Ethereum blockchain. Cryptopunks is considered the most profitable NFT art project, reaching a trading volume of USD 118 billion in September 2021.
The company is proud to have sold an NFT for $11.8 million to parliament member Shalom McKenzie who’s a passionate NFT investor.
Bored Ape Yacht Club is a collection of 10.000 uniques NFTs representing portraits of apes dressed in different clothes, having different skin tones and quirky habits like smoking, singing or eating pizza.
You can buy a Bored Ape which guarantees a digital certificate of ownership. Unfortunately, a Bored Ape NFT will set you up for 152 ETH which translates to $429.000. Ouch!
Crypto Baristas is the most inventive and ‘palpable’ NFT art project out there. This project is a collection of weird-looking, colourful coffee-pouring characters that can be purchased on Rarible’s marketplace.
The reason Crypto Baristas is unique in the NFT art world is that the money earned from selling the digital baristas goes to funding a real-life cafe in New York City.
The company roasts and sells its coffee online and has acquired a huge following on Twitter.
Investing in NFT art is a good idea, especially if you are an art lover who wouldn’t mind making some money on the side. There is a variety of NFT artworks to choose from and the list above proves that the world is full of talented creators.
Thanks to the Ethereum network, we can now look at buying and owning art differently. All we need is a smartphone and an online bank account to purchase a beautiful piece of NFT art. It’s easier and more convenient to buy art this way.
However, is owning NFT the same as owning a piece of sculpture or installation and enjoying it in our own homes? That’s for each of us to decide.