New NFT projects

A non-fungible token is an asset with unique properties. It is possible to transfer photos, art, videos, texts or music into NFT. The most expensive digital objects have been sold at auctions for millions of dollars. But not every investment is justified. In the hope of getting rich, users may purchase an unwanted jpg picture. It is necessary to follow market trends and conduct your own analysis of platforms. In the article – about new NFT-projects in 2024. You need to understand – no matter how promising a token may seem, the idea may not be profitable. Therefore, it is safer to build a diversified portfolio.

What are NFT-projects

Non-fungible token is a certificate that confirms the ownership of digitally stored valuables (photos, videos, music). The blockchain stores information about the current and all previous owners of the object. The authenticity of the data is confirmed by a digital signature.

Each NFT is unique and has a subjective value. You cannot exchange one asset for another with the same value because they have different properties.

In 2023, technology has become a popular way for creative individuals to monetize projects. Collectors can purchase a unique item and secure the rights to it. The main applications of NFT are:

• Digital art- You can tokenize real paintings or create NFT creations. For example, the digital collage Everyday’s: The First 5000 Days was bought at auction for $69.3 million.
• NFT games. Developers release gear, land, and characters as digital cards. Players can stake their claim to items, sell or trade them.
• Credits. In 2023, platforms that provide cryptocurrency loans secured by NFT (NFTfi, Unbanked) are developing. If the money with interest is not paid back on time, the rights to the unique digital asset will pass to the lender.

New NFT projects in 2024

Until a few years ago, you had to get a patent to prove rights to a photo, video or audio recording. This takes a lot of time and requires money. In 2021, there is a new way – creating an NFT certificate that records the owner of the artwork. Artists and collectors took advantage of the technology. Thanks to the support of celebrities and investments of large crypto funds, the popularity of the direction grew.

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In 2023, new NFT projects are launched every day. It is possible to compare the indicators of startups that generate the most interest.

WHALE Members

This is a fan club for digital art connoisseurs that empowers creative individuals. Artists can sell their work and make useful contacts.

To access the platform’s features, you need to hold a native WHALE token. Investors benefit from:

• Invitations to private events (airdrop, conferences, meetups).
• The right to join a collective of artists.
• Participation in lotteries and WHALE giveaways.
• The right to vote on initiatives.

The community owns a digital repository of unique NFT works. It contains paintings, music tracks, artwork and photographs.

Lucky Block

A lottery platform based on the Ethereum blockchain aims to offer a more convenient reward distribution system. Prizes and gifts in cryptocurrency are given to all contestants. Contests are held regularly, so NFT holders can receive a steady income, regardless of luck. The principle of earning is as follows:

1. Buy NFT competitions. Every week a new quiz is launched, to access it, you need to buy the card associated with it.
2. If lucky, the user will receive a valuable prize – a tourist trip, a car, a game console.
3. All holders will be awarded 10% of the jackpot.
4. As the popularity of the platform increases, the cards may increase in value. Early investors have the right to resell assets more expensively.
5. Weekly drawings of free artifacts are held among the holders of the first series of Platinum Rollers Club.

Uniqly

The platform offers to buy and trade Wearables 3.0 wearable devices. These are NFTs with which you can use a single digital item in multiple meta universes (Decentraland, The Sandbox). Designers and artists come up with digital models that are made into reality by partner companies.

For example, users can get clothes in physical form. At first, the real copies are in Uniqly’s storage. To get a unique item and wear it, you’ll have to burn a digital token. The clothes will be mailed or delivered to a partner store. Each item has a QR code on it that links it to the NFT. This guarantees authenticity.

Uniqly is constantly expanding its list of partners. Contracts have already been signed with Metakey, CyberKongz and SupDucks. The platform also invites artists to cooperate.

Sorare

The developers of the blockchain game offer participants to assemble a team and win a soccer tournament. To participate, you need to buy 5 NFT-cards. Each card represents a real athlete.

The chances of winning are increased due to the rarity of non-interchangeable tokens and real results of players in the current season. Users can pump up their characters. After each match they become stronger and more resilient. The developers cooperated with Ubisoft, MLB, Barcelona and Real Madrid soccer clubs to make the characters realistic.

No Solo Un JPG

An educational blockchain project created by Spanish developers. Users are invited to sign up for a newsletter to learn more about non-mutualizable token technology. Participants will receive one email per week. The founders believe that this is the best format to assimilate information for beginners. From the materials, clients will learn about NFT technology, types of tokens, and how to buy and sell assets.

The developers constantly update the content, putting only the first chapters in free access. To continue learning, you need to buy native NFT. A total of 2514 cards are released, which have different properties and rarity. Holders will also receive a digital sculpt and other benefits:

• Participation in contests, giveaways, perks.
• Access to the annual online event.

IMPT

The service offers to earn and contribute to the fight against global warming. The company cooperates with more than 10 thousand brands, which transfer to users a portion of carbon credits. There is another way to get them – to buy them for a native IMPT token.

Carbon credits can be exchanged for NFT lots of popular artists and sold on marketplaces.

The team is holding a tokensale in the fall of 2023. Listings on exchanges are scheduled for early 2024.

Tamadoge

This is a simple and fun game of the Play-to-Earn genre with pleasant graphics. After connecting your wallet and registering, you will get your own character – a dog. It can be developed, increasing the value. The developers plan to expand the application with its own meta-universe and augmented reality.

To increase the level of the character, you need to buy items for native TAMA coins. When registering on the platform, the participant receives 20 units of currency for free, but to win in quests will require investment. Significantly increases the chances of buying NFT – with their help you can increase strength, dexterity, luck and other parameters. This will allow you to sell a pumped up character at a good price on the internal marketplace.

Analysts see the prospects of the project and predict a multiple growth in the price of the native token. According to the White Paper, the cryptocurrency will have a limited issue and a burn mechanism. The options will support the quotes in the long term. Therefore, there are reasons to believe that NFT tokens will be in demand.

Space Ape

Apeverse is the largest ecosystem, with well-known projects (such as the Bored Ape Yacht Club collection). The Space Ape set has over 10k cards on the theme of monkeys landing on the moon. Each piece is unique, differing in background, spacesuit color, gestures and facial expressions.

Space Ape is the brand’s new collection. Given the popularity of digital art related to monkeys, you can expect the value of the lots to increase.

AdRunner

This platform combines the technologies of non-interchangeable assets and meta-universes. AdRunner is a decentralized platform on the Ethereum blockchain. In 2022, the developers released 4,444 unique NFT works by famous authors. Users were invited to buy billboards for placement in different blockchain games. This allows you to get a constant passive income – companies pay with ADR coins for the displays of their products.

Earned cryptocurrency can be placed in bets. The terms of staking will be published after the token is listed. To increase income, you can cross 2 first-generation non-mutualizable assets. This is how NFT AdRunner Gen Z collection tokens are obtained.

Ecoterra

The promising platform has already raised $2 million in a token pre-sale. ICO analyst Jacob Crypto Beri predicts the native cryptocurrency to grow at least 10 times after listing on exchanges at the end of 2023. Ecoterra’s mission is to mitigate climate change and help fight pollution. The service encourages responsible users and recycling entrepreneurs. The principle is this:

1. You need to download Ecoterra’s Web3 app (runs on the Ethereum blockchain).
2. Scan plastic containers of partner brands (Coca-Cola, Delhaize, Evian and others) and recycle them in RVM machines. They are installed in the United States and Europe. A native token is credited for performing the operation.
3. Each participant of the application receives a token in the form of a non-replaceable asset, which records personal achievements in improving environmental conditions.

How to find an NFT project

The market for non-replaceable tokens is one of the most promising and fastest growing. For example, you could mine Bored Ape for 0.08 ETH in 2021 and sell it in 2022 for 114 ETH. But not every item becomes a gem. Therefore, you need to choose the object for investment carefully. It is also recommended to collect additional data on the project’s website or social networks. The main parameters to analyze:

• Tokenomics. The distribution of assets will help to assess the prospects for value growth.
• Benefits to holders. In 2023, digital items that can be used not only as a pretty picture are valued most of all.
• Purchase terms. There are 2 options – fixed price and auction.
• Governance mechanism. Most platforms do not have a regulatory body. Decisions are made by the community. But there are also centralized startups.
• Frequency of release and the number of posts in social networks. This indicates the interest of developers and promotion of the platform.

Binance NFT.

The developers of the largest crypto exchange track market trends. Following the takeoff of the non-interchangeable token industry, Binance launched a marketplace in 2021. Traders are invited to trade digital art and create their own.

The marketplace’s homepage displays items available for purchase, premium collections, and NFT project tokens. Users can:

• Track lot metrics. You can see the trading volume, resale frequency, minimum and last price. This helps in assessing market trends.
• Add promising platforms to “Favorites”. After logging into the profile and verification, the list can be viewed on the ratings page.
• Track new blockchain projects in the P2E genre. To do this, you need to look at tokens that are launched via IGO (gaming NFTs). When looking for promising ideas, it is recommended to pay attention to the GameFi sphere. The audience for blockchain games has been growing rapidly lately.

X (formerly Twitter).

Social networks help to develop NFT projects. For example, on X (former Twitter) you can see the works of digital artists and new art collections. The social network also publishes useful data – airdrop announcements, links to other communities (Medium, Reddit). Interesting authors can be added to “Favorites”. Then a notification will come when a new post appears.

Discord

This is another effective way to search for NFT projects. Users can find a lot of useful information from developers in the channels – announcements of drops, updates and other things. To select services, you need to enter the tag nft in the search.

Also in Discord you can track startup news or subscribe to services that cover events on all interesting novelties. The content of the channel, participants’ messages and their frequency will help to form an opinion about the quality of the community.

Aggregator sites

Rarity is a key parameter of a digital object, which directly affects its value. You can evaluate non-mutualizable tokens on its this point with the help of aggregator sites. A popular way is the sniping strategy:

1. Look at monitors of exclusive NFT collections.
2. Check the rarity of an individual token.
3. Buy an exclusive NFT token or an undervalued asset at a favorable price.

You can also assess the rarity using the rating system. But this method works only in one chain. Monitoring allows you to look at NFTs on all blockchains. To determine the value of a collection, you need to take into account the total number of items in the set, their rarity, and the number of owners.

Analytics tools

Aggregator sites and large NFT-marketplaces offer functions for tracking and analyzing new NFT projects (filters by different parameters, data collection from popular platforms, price models). With the help of tools it is possible to capture:

• Most popular collections.
• Market models.
• Real-time token creation statistics.
• The activity of “whales”.
• Sales trends.
• Rating of NFT tokens.

After filtering interesting projects, you need to go to the “Collections” tab and look at historical charts. Here you can get data on trading volumes and price range.

Calendars

These tools allow you to track past, new and announced drops of non-mutually exchangeable assets. Calendars are published on aggregator sites, in official communities. They can also be found in the public domain through search.

Calendars are used to track NFT projects at an early stage. One should take into account that drops by authors with a name and a good reputation are of great value. A collection by an unknown artist can become popular or remain just a digital image with zero value.

Alpha Groups

These are services in Discord that collect exclusive information on new NFT projects. Alpha group members can:

• Communicate with other crypto-enthusiasts.
• Be the first to receive information about launches and access to Whitelist.
• Read reviews about new developments in the field.

Most alpha groups are closed, for access you need to pay a subscription. But there are also public communities. They put in the open channel part of the information to motivate participants to buy the full version. Users can subscribe to the group and draw a conclusion about the usefulness of the content.

It is worth being wary if administrators write in private messages with an offer to buy access. Most often it is fraudsters, or the information is not worth the money spent. Owners of quality channels do not need such methods of attracting an audience.

Newsletters

You can subscribe to news from reputable media outlets and blogs about NFT. Timely information will help you be among the first to take advantage of an interesting offer and get on the Whitelist. Newsletters also contain analytics and project reviews. You should use this data to conduct your own research. When making financial decisions, you should not rely on just one source.

Conferences

Attending themed events online and offline is useful. Participants can get new information and meet like-minded people. Such events allow you to join a closed alpha group or create your own.

Conferences are held in Moscow, Dubai, Minsk and other cities. You can come in person or participate online. The price of admission does not change.

For example, at Blockchain Expo 2023 it was possible to communicate with more than 6 thousand crypto-enthusiasts from all over the world. Over 2 days, experts and investors held 250 lectures. Participants could learn about the experience of experts and ask questions.

Why invest in NFT

Unique digital certificates confirm ownership of real or virtual objects. The technology of non-replaceable assets has found application in many industries (lending, real estate, sports). Analysts predict the trend will continue in 2024. There are several reasons for this:

• New blockchain gaming opportunities. The introduction of NFT has greatly changed game mechanics and started the Play-to-Earn genre. Many of the promising tokens of 2023 are in the GameFi direction.
• Investments by big companies. Famous brands – Adidas, Nike, Gucci and others – have entered the market.
• An easy way to prove ownership. Authors do not need to obtain a patent. The technology reliably protects objects from counterfeiting and has already changed the art market.

A store of value

This is the name given to assets that appreciate in real terms (adjusted for inflation) over time. In other words, they retain their purchasing power. There is another parameter – liquidity. Therefore, not all non-interchangeable tokens will be suitable for this purpose. It is more likely to find a buyer for a digital painting than for an item in a blockchain game that is no longer popular.

For content creators

NFT is a good opportunity for artists to monetize labor. Authors can sell work directly without contracting with publishers. Creative connoisseurs have a way to support artists. Investors can be sure that the author will receive the royalties in full (minus 5-10% marketplace commission).

Investments

Investing in digital art can yield great returns. However, the value of an NFT item is subjective. Therefore, there is no guarantee of value appreciation. Investors need to carefully analyze NFT projects in 2024. The price of an item may increase if it was created by a famous person or there are offline application scenarios. However, a significant portion of digital items will remain unclaimed.

To minimize risks, it is recommended to diversify investments – do not invest too large a percentage of the deposit in one project.

Lack of restrictions

From a legal point of view, NFT is not a cryptocurrency, but a contract for the transfer of rights. In Russia, this sphere is regulated by the Civil Code, but the change of owner with the help of a token is not reflected in the document. However, there is no ban on such transactions.

Similar legislation is in effect in other countries. For example, in China, cryptocurrency is prohibited, but NFT tokens are not. In 2022, the authorities adopted an initiative allowing transactions with them.

Low value

According to the Wall Street Journal, in 2022, the market for non- fungible assets lost 90% of its value. In 2023, prices bounced back. Blue chips have shown the highest returns. For example, BAYC and Azuki Whales grew by 100%. Most NFT-projects still have a great growth potential. This is especially true for tokens of the “second echelon”. There is a huge gap between asset groups. A niche NFT issuance strategy and long-term retention can be profitable.

Another way to make money on price growth is to cross 2 or more digital objects and get the more valuable one. The price of mint is fixed and depends on market conditions. The average fee does not exceed 0.08 ETH. At the same time, it is possible to get a rare card worth $5k or more.

Market size

According to Binance, in September 2023, the total capitalization of NFT tokens is $6.7 billion. More than 2.4 million unique addresses are involved in transactions. Verified Market Research (VMR) predicts that the market will grow at an average annual rate of 33.7% over the next 8 years.

The industry capitalization will increase to $231 billion by 2030. This will affect the price of the most promising assets. Therefore, it is possible to buy undervalued projects with a medium-term growth prospect of hundreds of percent in 2023.

Loans

In 2023, you can get a loan secured by ERC-721 and ERC-1155 tokens. For example, the NFTfi service works at the intersection of technologies – decentralized finance and non-mutually exchangeable tokens. The principle is as follows:

1. The service evaluates and verifies the lot.
2. The NFT asset is locked in a smart contract.
3. The lender disburses the funds in wETH, DAO. NFTfi charges a fee of 5% of the transaction value.
4. The borrower needs to repay the debt along with interest. Rates are high (15-20% per annum). If the obligations are defaulted, the unique asset will be transferred to the lender.

Frequently Asked Questions

🔔 How much money do I need to invest in NFT projects?

You can start with any deposit – participate in giveaways, buy inexpensive lots (from $10) or fractional shares. But tokens of famous crypto projects, popular blockchain games and artists with a name have a greater potential. The minimum price of such works is $1-5 thousand.

📢 What is NFT-index?

It’s a financial tool that helps track trends on specific groups of non-mutually exchangeable tokens – for example, GameFi, PFP, Utility NFT, Foto, Audio, and others.

🔥 Can a digital item be moved to another blockchain?

No. You can’t move it due to differences in token standards. You can only delete the NFT and create it again in another network.

📌 Do you have to go through KYC to invest in NFT projects?

Marketplaces do not require user verification. It is enough to connect your wallet on a compatible network. Dropships and whitelists will require KYC. This is how projects fight double registrations.

✨ Where to store NFT tokens?

The choice of wallet depends on the blockchain and the asset standard. For Ethereum (ERC-721, ERC-1155), MetaMask is often used.

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Author: Saifedean Ammous, an expert in cryptocurrency economics.