What are Blue Chip NFTs and Top Blue Chip NFT Projects 2024

Non-fungible tokens, or NFTs, have rapidly gained prominence in the digital asset space. Among these, a distinct category known as blue chip NFTs has emerged. Characterized by their market capitalization, established market presence, and often a connection to renowned artists or brands, blue chip NFTs represent a unique investment and collectible opportunity. 

This guide delves into the world of blue chip NFTs, exploring their defining characteristics, and top blue chip digital art projects and collections.

Key Takeaways:

1. NFTs are non-fungible tokens, unique digital assets verified by blockchain technology.
2. Blue chip NFTs represent a subset of NFTs characterized by high value, established market presence, and often association with renowned creators or brands.
3. The top NFT blue-chip projects including BAYC, CryptoPunks, MAYC, Art Blocks, SMB, Bitcoin Ordinals NFTs, and others, are renowned for their significant market value and collector interest.

What are Blue Chip NFTs?

The most famous, reliable companies in the stock market are Apple and Coca-Cola. These are called “blue chip” stocks because they’re seen as safe bets. Blue chip NFTs are kind of the same thing but for the digital art world.

The term “Blue Chip” signifies the quality and stability of these NFTs, attracting investors looking for long-term gains. Collectors and investors view Blue Chip NFTs as a secure way to invest in the volatile NFT market.

So, in simple terms: Blue Chip NFTs are established, have a high market value, and are expected to increase or retain their value over time. They often come from well-known creators or brands and have a history of significant sales and consistent demand. Bored Ape Yacht Club and CryptoPunks are the best examples of blue chip NFTs in the crypto industry.

Pros & Cons of Blue Chip NFTs

Pros

• Blue Chip Status: Owning a blue chip NFT can be a status symbol in the digital art world, like owning a famous painting in the real world
• Safe Investment: They are generally considered a safer bet in the NFT market due to their reputation and track record.
• Potential for Growth: Their value may increase over time due to their popularity and demand
• Community Benefits: Some blue chip NFTs offer exclusive access to online clubs or events, creating a sense of community

Cons

• High Cost: Blue chip NFTs tend to be very expensive due to their popularity
• Market Volatility: The long-term value of any NFT, even a blue chip one, is still uncertain

How to Find Blue Chip NFTs and Projects?

Here are some strategies to help you discover the best blue-chip NFTs and their projects:

Explore Established NFT Marketplaces

Popular NFT marketplaces like OpenSea, Rarible, SuperRare, and Magic Eden for Solana are great starting points. These platforms often feature collections from renowned artists, established brands, and popular trends. Here, you can browse collections, check their sales history, and get a feel for the current NFT landscape.

Follow the Community

Engage with NFT enthusiasts on social media platforms like Twitter, Discord, and Telegram groups dedicated to specific collections or the NFT market in general. 

Influencers, collectors, and even project creators often share insights and discuss promising projects. Be wary of unsolicited investment advice, but following these discussions can give you valuable information on emerging NFT trends and potential blue chips.

Research the Creators

The reputation and history of the artist or team behind an NFT project hold significant weight. Look for creators with established careers in the digital art world, a strong online presence, and a proven track record of successful projects. Researching the team’s experience and vision for the project can help you assess its potential for long-term value.

Analyze the Collection’s Utility

While artistic value is important, some blue chip NFTs offer additional benefits to their owners. Look for projects that provide utility, such as access to exclusive online communities, events, future NFT drops, or even voting rights within the project’s development. These additional perks can enhance the overall value and desirability of an NFT collection.

Consider Scarcity and Rarity

Within a blue chip collection, individual NFTs can have varying degrees of rarity based on their unique features or limited quantities. Researching the collection’s structure and identifying rare NFTs within it can be a good strategy. 

Utilize NFT Analytics Tools

Several platforms offer data and analytics tools for the NFT market (one example is CryptoSlam). These tools can help you track floor prices (the lowest recent sale price for an NFT in a collection), trading volume, and ownership history, providing insights into a collection’s overall health and potential for growth.

Top Blue Chip “Ethereum” NFT Projects

1. Bored Ape Yacht Club: US$3.16 Billion in Sales

Bored Ape Yacht Club (BAYC) is one of the most successful Blue Chip NFT projects on the Ethereum blockchain. Launched in April 2021 by Yuga Labs, BAYC features a collection of 10,000 unique apes. These NFTs have become highly sought after, with total sales exceeding US$3.16 billion. The craze has even attracted celebrities like Justin Bieber, Snoop Dogg, and Gwyneth Paltrow, who have all purchased Bored Ape NFTs. 

These are commonly referred to as Bored Apes and developed on the Ethereum blockchain using the ERC-721 standard. Owning a Bored Ape NFT grants access to an exclusive online community, special events in person, and even the right to use the ape’s digital image for your own creative projects. Read our full overview of BAYC in detail.

2. CryptoPunks: US$2.8 Billion in Sales

CryptoPunks is one of the earliest and blue-chip NFT projects on the Ethereum blockchain. Created by Larva Labs in 2017, CryptoPunks features 10,000 unique 24×24 pixel art characters. The project has achieved total sales of US$2.8 billion, making it one of the highest-grossing NFT projects.

The collection included pixelated art with both male and female characters, and some look like zombies, apes, and aliens. Each one is different. Individual owners sell them on NFT marketplaces or through famous auction houses like Christie’s and Sotheby’s. The highest-selling CryptoPunk, #5822, was sold for a whopping $23.7 million, with multiple other punks sold for millions.

3. Mutant Ape Yacht Club: US$2.14 Billion in Sales

Mutant Ape Yacht Club (MAYC) is a spin-off project of the Bored Ape Yacht Club. Launched in August 2021 by Yuga Labs, the MAYC is a collection of up to 20,000 Mutant Apes. These can be created by exposing an existing Bored Ape to a vial of Mutant Serum or by minting a Mutant Ape during the public sale. The project has generated total sales of US$2.14 billion, making it one of the top Blue Chip NFT projects on Ethereum. 

MAYC’s success is attributed to its association with BAYC, unique artwork, and community benefits. Owners of Mutant Ape NFTs gain access to exclusive events and perks similar to BAYC.

4. Art Blocks: US$1.4 Billion in Sales

Art Blocks is a leading platform for generative art on the Ethereum blockchain. Launched in November 2020, Art Blocks allows artists to create algorithmically generated art pieces. The platform has achieved total sales of US$1.4 billion, making it one of the top Blue Chip NFT projects. When Art Blocks collections are produced, they can range from a simple image to an interactive 3D model. 

The Art Blocks project features three distinct tiers, each highlighting a different approach to design. The top tier, Curated NFTs, is reserved for generative art NFTs by selected artists who can create NFT drops that may become part of the official Art Blocks collection.

The second tier, known as the Artist Playground, allows artists from the curated collection to develop their own series. However, these projects are not included in the official Art Blocks collection. The final tier, Art Blocks Factory, offers an alternative for artists who do not want to wait for acceptance into the curated tier. Here, artists can launch their own code.

Blue Chip “Bitcoin” NFT Project

5. Ordinals: US$433 Million in Sales

Ordinals is a pioneering Blue Chip NFT project on the Bitcoin blockchain. Launched in early 2023, Ordinals features a collection of unique digital art pieces inscribed directly onto the Bitcoin blockchain. The project has achieved total sales of US$433 million.

Unlike older versions on layer-2 blockchains, Ordinals are directly on Bitcoin. They are made by “inscribing” data, such as images or videos, onto individual satoshis, the smallest unit of bitcoin.

Each satoshi is assigned a unique number using ordinal theory, which allows it to be identified and tracked. These unique numbers, or inscriptions, are assigned based on the order in which they are created, thus called Ordinals. Bitcoin Puppets and NodeMonkes are the best examples of ordinal NFTs on the Bitcoin blockchain.

Top Blue Chip “Solana” NFT Collections

6. Solana Monkey Business: US$205 Million in Sales

Solana Monkey Business (SMB) is a prominent NFT project on the Solana blockchain. Launched in August 2021, SMB quickly gained popularity due to its unique and creative digital monkey artwork. The project comprises a collection of 5,000 unique monkey NFTs, each featuring distinctive traits and accessories, which make them highly sought after by collectors and investors.

The unique traits of each monkey, such as different hats, glasses, clothing, and backgrounds, contribute to their rarity and value. Some traits are more common, while others are extremely rare, driving the value of certain monkeys higher in the secondary market.

7. Mad Lads: US$196 Million in Sales

Mad Lads is a notable NFT project on the Solana blockchain, launched on April 20, 2023. The collection consists of 10,000 unique NFTs. These NFTs feature a variety of illustrated human or humanoid profile pictures (PFPs) with unique clothing, weapons, accessories, and rare attributes depicting celestial, robotic, and undead characters. The project has generated total sales of US$196 million, making it one of the top Blue Chip NFT projects on Solana.

The project was created by Coral, a Solana framework development company led by Armani Ferrante and Tristan Yver. The NFTs were exclusively launched through Backpack, an all-in-one wallet app also created by Coral, which utilizes “executable NFTs” (xNFTs).

Mad Lads also emphasizes inclusivity, with about 10% of the NFTs featuring female PFPs. This move aims to broaden representation within the NFT space. Beyond aesthetics, owning a Mad Lads NFT provides practical benefits such as participation in exclusive airdrops.

Conclusion

Blue Chip NFTs represent high-value, established digital arts that offer the potential for significant returns and stability. They are created by reputable artists or brands and have a history of high sales and consistent demand. 

However, investing in Blue Chip NFTs also comes with risks, such as high entry costs and market volatility. Identifying Blue Chip NFTs requires thorough research and analysis of historical performance, creators, and market trends. The above-listed top blue chip NFT projects on Ethereum, Bitcoin, and Solana have achieved significant sales and popularity, making them valuable assets in the NFT market.