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People are willing to pay millions of dollars for digital art objects realized in NFT space. Sometimes, even the creators of the NFT collection themselves are pleasantly amazed at how they accept and, more importantly, buy the NFT ideas they create.
To an outside user, against the background of high-profile successes, it might seem that earning money on non-fungible tokens is quick and not difficult, and the search for an idea for digital art is just a matter of inspiration.
However, this is not entirely true. Today we are going to try to find the perfect recipe for creating an NFT world, which will not only characterize you as a digital artist but will also help you to monetize your own business idea with non-fungible tokens.
Examples of NFT Business Ideas
Let’s start by remembering what NFT collections and digital art items sold for the highest prices in the history of this segment of the industry.
Everydays — The First 5000 Days
The most expensive NFT object that was accepted by the market was the work of Mike Winklemann, the digital artist better known as Beeple. Prior to the sale of this work, his art objects were under $100 in value.
However, digital art in the form of NFT “Everyday — The First 5000 Days” sold at Christie’s for a record $69 million, which, according to the auction house, places Beeple among the three most expensive living artists not only among NFTs but also among the entire art market. The NFT idea was that in the painting, the artist collected photographs of 5,000 days of his life that he took every day for more than 13 years.
Human One NFT
Another work by Beeple made the list of the most-expensive NFTs in history, Human One NFTs.
The human and humanoid avatars were sold in late 2021 for a record $28.9 million. The art object in the form of a sculpture reflects the NFT idea that art is not necessarily a finite object but has kinetic, changeable energy.
CryptoPunk
The sale of the CryptoPunks NFT Monkey Collection makes these tokens the most expensive non-fungible tokens in the world. The top pieces in this series sold for millions of dollars, and the entire collection eventually became legendary, with countless followers of CryptoPunk digital artists trying to copy the idea. There are several price records here at once.
CryptoPunk #5822 is a rare type of NFT from the $10,000 collection with the notable attribute of a blue bandana, which brought the Larva Labs collection $23.7 million (about 8 thousand ETH at the time of the deal) from its sale to the owners’ own platform.
CryptoPunk NFT #7523 (“COVID-19 alien” with earrings, knit hat and medical mask) was sold at Sotheby’s auction in 2021 for $11.8 million.
CryptoPunk NFT #4156 left the CryptoPunk trading floor for $10.26 million.
CryptoPunk NFT #3100 with a sale through NFT marketplace OpenSea for $7.58 million, and CryptoPunk #7804 caught the attention of collectors of rare and unique NFTs, which helped the sale price rise to $7.57 million.
Bored Ape Yacht Club
Another famous and expensive collection is the Bored Ape Yacht Club, the idea of which is to create a unique NFT community, the ticket to which is owning a BAYC. Sotheby’s was the first auction house to put 101 NFTs from the Bored Ape Yacht Club collection up for sale, selling for $24.4 million.
Christie’s then sold four monkeys for $12 million, and another collector resold his Bored Ape for $2.65 million on NFT marketplace OpenSea. Seems like great prices for a community pass ticket?
Bored Ape Yacht Club, in its development, went much further than other collections NFT and Yuga Labs released their own token, ApeCoin (APE) market capitalization at the time of writing is $2,240,987,102.71.
First Tweet
Twitter founder Jack Dorsey sold his first tweet on the online auction site Valuables for $2.9 million in 2021 to crypto entrepreneur Hakan Estavi. The entire non-fungible token looked just like the phrase “just setting up my twttr” and was put up for sale after exactly 15 years of its publication.
However, what is the story behind that phrase is what makes the NFT idea valuable.
The Best NFT Projects Ever and Currently on the NFT Market
In general, for all the time of active trading on the NFT artwork market, a steady top 10 of the most expensive, and therefore most recognized collections of NFT internet culture have been formed. According to Dappradar, the ranking of the best NFT collections by various protocols now looks like this:
Knowing the heroes of the past in the form of the best NFT collections is necessary to understand the “gold standard” of development. For a complete picture of which NFT ideas are working best in the market right now, let’s look at the most trending sales of the last month on two NFT platforms: the most popular on Ethereum—OpenSea and the most popular on Solana—Magic Eden.
At OpenSea, the best-selling NFT collections were BAYC, CryptoPunk (we are already familiar with them), and The Potatoz (elements of the Memeland virtual world):
- Moonbirds Oddities (collaboration with another Gremplin collection):
- pixel heads from The Saudis collection:
- Art Blocks Curated (a set of art objects from artists):
- Ethereum Name Service (ENS) (domains are secure domain names for the decentralized world):
- the famous goblin series in goblintown. wtf:
- the few NFT avatar series CLONE X – X TAKASHI MURAKAMI:
- and the entry of famous New York artist Nina Chanel Ebney into NFTs in Nina’s Super Cool World collection.
The most popular NFT ideas of the last month, created on the Solana blockchain:
- Okay Bears—a community of diverse bears to broadcast virtue in the NFT world and the real world environment:
- “Froots” or “The Vibers of Solana” is a NFT art for pumping up the community and the crypto:
- Platform NFT Rakkudos:
- NFT art ideas in DeGods collection of degenerates, punks and losers:
- A group of fat cats in the form of Degen Fat Cats:
- Somewhat similar in idea to BAYC – Primates NFT art ideas web3 space through our community, fueled by businesses and collaborations:
General Ideas for the Success of NFT
As you can see, there are plenty of examples of NFT business ideas that, along with fame, bring millions of dollars to their creators.
These brilliant solutions for NFT unite some common principles of presentation, which are well received by the audience and, as a result, bring profit. In a nutshell, the best NFT ideas must have the following:
- Uniqueness, exclusivity—that’s what the consumer expects
- Eccentricity—a play on the verge of accepting / not accepting, beautiful / not beautiful, interesting or not interesting at all.
- Social idea—useful to society, highlighting important problems or topics for discussion.
- Humor and sarcasm.
- Animals as NFTs avatars to represent human qualities.
Business Ideas for Non-fungible Tokens
Analyzing the best projects in the field, there are a number of business ideas for non-fungible tokens that get the most out of the consumer. The concept of GameFi, Play-to-Earn, NFT and the entire industry of modern gaming space has become inseparable, and the development of these sectors is so tightly intertwined that it is now difficult to imagine a game without a link to non-fungible tokens.
It’s a talented combination of artistic and business relevance, the most marketable in the 21st century. Even based on games and their growth in the last week: 39% to 445% in the bear market, half the games using NFT.
So we can unequivocally say that blockchain and the non-fungible token created from it are a great idea for NFT within the current market trends.
This idea is supported by one of the big names in the games industry, Epic Games. The company stated that it does not intend to limit game developers in the use of blockchain, and they can decide for themselves how they see their project.
Best NFT Ideas for Business and Corporations
Large corporations and businesses outside the crypto and blockchain market are very active in using the NFT market as part of their product (service) promotion. Physical business, apart from the general acceptance of the crypto economy, has not been able to avoid the boom in the growth of NFTs tokens. With numerous collaborations between the NFT ecosystem and the fashion industry, manufacturers have offered new and relevant art forms for marketing demanded by the customer.
For example: just recently, one of the most famous jewelry companies, Tiffany & Co., debuted an exclusive collection of 250 CryptoPunks encrusted with precious stones. In this case, these pendants could be bought only by the owner of one of the CryptoPunk collection tokens. Tiffany & Co. pledged to make the unique items for NFTs buyers only. No one else could take advantage of this chance.
That said, each NFTiff, as the Tiffany & Co brand should be, costs a round sum of 30 ETH or about $50,000.
CryptoPunks brand manager Noah Davis said in one of his interviews after the successful promotion that the fashion and NFT collaboration is not the last in the company’s development, and we should expect new interesting combined virtual finds.
Another product collaboration between the French fashion house Louis Vuitton and NFT. The company unveiled Louis: The Game, a mobile game commemorating the 200th anniversary of Louis Vuitton’s founder, which is available for download on Android and iOS.
A little Vivienne doll goes through several levels within the game while learning the history of the fashion house and getting to earn 30 collectible NFT cards that are hidden in six worlds.
Pixels in Art NFT Ideas
Blockchain technology seems quite austere and inaccessible to the high matter of art. However, NFTs have dispelled this myth by becoming part of digital culture, a painting phenomenon and a challenge to the classical art world.
Moreover, NFTs are a challenge and a sharp satire of some overly traditional old-school biases.
And this challenge has been accepted, appreciated and, to a large extent, capitalized.
Now we are talking about the same CryptoPunks. Pixel pictures gave rise to a lot of controversy about their overvalue and lack of taste in customers. But this is also the idea – to become accepted through rejection, emphasizing the problem even more.
Now every fifth collection released to the NFT market is in a similar pixel style. So the idea of acceptance through argument and resistance works. Maybe NFT marketing from the other way around works for your brand. Think about it!
Engage the Stars
Paris Hilton, the world-famous star of the 2000s and a socialite, decided to get into the business of creating NFT paintings. One of her works ended up selling for $1.11 million, which allowed Hilton to call herself the “Iconic crypto queen”.
However, she is not the only star who has paid tribute to NFTs.
Actress and singer Lindsay Lohan issued her tokens on the TRON blockchain (TRC-721 standard) and submitted them for sale on the marketplace, The FAN DAO. But here, Lohan acted more as a guest star, as she had previously promoted the TRON blockchain in every way, and by the time the NFT marketplace launched on that blockchain, she had announced her own idea for NFT.
One of the successful ones was the launch of her own collection by Canadian singer Grimes, the unofficial wife of billionaire Elon Musk.
Grimes created a collection of digital images and sold them on the Nifty Gateway site. The sale was very successful – the singer made $5.8 million in the first 20 minutes.
Lover of memes and weird jokes about cryptocurrencies Elon Musk also took part in the promotion of the NFT movement. He offered to buy his tweet with an electro-dance track dedicated to NFT. The billionaire wanted 420 million DOGE, or almost $24 million at that rate, for a successful purchase.
As you can see – the stars can act on their own behalf or on behalf of the company. It does not matter. The main thing is that their participation is justified, and your business for NFT becomes even more profitable.
Best NFT Ideas—This Is Metaverse
Metaverse is where the real sales and NFT creation heaven is – the perfect place for creativity and crazy ideas that will sell. And NFT is the main selling tool in the Metaverse.
The industry has grown nearly 400% in the last year, remaining the most profitable part of the crypto economy. At the same time, analysts believe that the rate of development and capitalization growth will continue to grow, and by 2030, the Metaverse could number several tens of billions of dollars and become the main trend of cryptocurrency development for the next 5-10 years.
The potential for NFT in the Metaverse is enormous. Virtually the entire virtual world being built within a system will need objects to fill that world. Therefore, non-fungible tokens will be ideal performers for this task. A gifted writer will fill the digital space with pleasure because the subject of NFT can be anything: surrealist furniture, a digital picture, land, a store, a car—anything that can be tokenized.
Conclusion
There are dozens, hundreds more ways and ideas for their execution in the form of NFTs. Get creative, and become a supporter of the NFT movement.
You will have a chance to make your own NFT space, which will promote your business idea in the digital world and make any product unique and memorable. Best NFT ideas are ideas that fit your brand. As we see – there is no limit to the variety of uses for NFT – tokens are used by serious entrepreneurs and new startups alike.
Look for yourself and your approach in the world of NFT online and the digitalization of business!
