How Do You Choose The Best NFTs to Buy? – Cryptopolitan

Non-fungible tokens (NFTs) are gaining a lot of popularity, and capturing the interest of collectors, artists, and casual investors. In fact, NFTs have already created a booming market for collectibles, art, and virtual real estate. But with countless projects available, determining the best NFTs to buy can be overwhelming for beginner investors. In this article, we’ll explore the top projects and answer your questions about NFTs such as how to find investable projects. 

15 Best NFTs to Buy in 2023

As the NFT market continues to expand, investors are seeking the best NFT projects to add to their portfolios. This section highlights some of the top NFTs to consider investing in 2023.

Bored Ape Yacht Club (BAYC)

Launched in April 2021, BAYC consists of 10,000 unique, hand-drawn apes, each with its distinct set of attributes. BAYC NFT holders gain access to exclusive events, merchandise, and even a virtual yacht club. The project has garnered significant attention from celebrities and investors alike, making it a highly sought-after collection.

CryptoPunks

CryptoPunks comprises 10,000 unique, algorithmically generated 8-bit characters. It is considered as the holy grail of NFTs because it was among the very first projects. With a limited supply and a dedicated collector base, CryptoPunks have become highly valuable, often fetching hundreds of thousands or even millions of dollars at auctions.

Mutant Ape Yacht Club (MAYC)

A spin-off from BAYC, MAYC features 20,000 unique mutant apes with various combinations of traits. Similar to BAYC, owning a MAYC NFT grants access to exclusive events and benefits, adding to their investment appeal.

DeGods

This NFT project exists on the Solana blockchain and is often compared with Bored Ape Yacht Club and other popular Ethereum NFTs. It carries an exclusive status among the Solana community. Each DeGod has distinct attributes and rarities. Furthermore, they offer amazing staking opportunities, making them an attractive investment for those interested in Solana NFTs.

Azuki

Azuki is a collection of 10,000 digital characters inspired by Japanese folklore and pop culture. With each character boasting unique traits and aesthetics, Azuki continues to grab the interest of collectors all over the world.

Doodles

Doodles is a collection of 10,000 hand-drawn characters with varying rarities and attributes. The project aims to foster a sense of community and collaboration among its members, with plans to release future utility features for Doodles NFT holders.

Clone X

Created by RTFKT Studios, Clone X is a collection of 20,000 unique, 3D avatars that can be used in the metaverse. Clone X owners gain access to exclusive digital clothing and accessories, as well as future RTFKT projects, driving its investment potential.

Pudgy Penguins

Comprising 8,888 unique, hand-drawn penguins, this NFT collection has gained popularity due to its cute designs and active community. Owning a Pudgy Penguin NFT grants access to exclusive events and opportunities within the community.

MoonBirds

MoonBirds is a play-to-earn game featuring collectible, breedable birds that players can use to compete in races and challenges. Each MoonBird has unique attributes that impact its performance, making them attractive to gamers and NFT collectors alike.

Axie Infinity

As a popular play-to-earn game, Axie Infinity allows players to collect, and breed creatures called Axies. With millions of players worldwide and various in-game earning opportunities, Axie NFTs have become a popular investment choice.

Art Gobblers

This NFT project showcases digital art pieces created by renowned artists. Each piece is tokenized as a unique NFT, making Art Gobblers an attractive option for art enthusiasts looking to invest in digital art.

SandBox

SandBox is a virtual world where users can create, buy, and sell digital assets and experiences. NFTs in the SandBox ecosystem include virtual land parcels, digital wearables, and in-game items, offering diverse investment opportunities.

Meebits

Developed by Larva Labs, the creators of CryptoPunks, Meebits has a total supply of 20,000 unique characters in 3D voxel style. Each Meebit has distinct traits, accessories, and rarity levels, making them highly collectible. The project’s connection to the highly successful CryptoPunks adds to their investment potential.

VeeFriends

Created by entrepreneur and social media influencer Gary Vaynerchuk, VeeFriends is a collection of 10,255 hand-drawn characters, each representing a unique combination of traits. Owning a VeeFriends NFT grants access to VeeCon, an exclusive annual conference, and other benefits, making them an attractive investment for fans of Gary Vee and the broader NFT community.

Otherdeed

Otherdeed is a virtual real estate platform which is a part of the BAYC universe. It allows users to buy, sell, and rent digital land in the form of NFTs. The platform’s focus on the metaverse and virtual experiences offers unique investment opportunities for those interested in the growing virtual real estate market.

When considering NFT investments, it’s essential to conduct thorough research on each project, evaluate factors such as total supply, utility, and community support, and assess the potential for long-term value appreciation. Diversifying your NFT investments across multiple projects can also help mitigate risk and maximize potential returns. Always remember to invest responsibly and stay updated on the latest trends in the rapidly evolving NFT market.

How to Find Highly Investable NFTs

To find promising NFTs for investment, consider the following resources:

• Social Media: Stay updated on the latest NFT news, trends, and projects by following popular NFT influencers on Twitter, Instagram, and YouTube.
• Popular Collections: Browse high-ranking NFT collections on platforms like OpenSea, Rarible, and Nifty Gateway to discover sought-after NFTs.
• NFT Marketplaces: Search for NFTs on top marketplaces like OpenSea, Foundation, and SuperRare to find unique, valuable tokens.
• Upcoming NFT Aggregators: Keep an eye on upcoming NFT aggregators that curate promising projects, such as CryptoSlam and NonFungible.
• NFT Characteristics: When evaluating NFTs, consider factors such as scarcity, provenance, creator reputation, and demand in the secondary market.
• Community: Look for NFT projects with strong, supportive communities that generate hype and drive long-term value.
• Utility: Invest in NFTs with real-world or in-game utility, such as those that unlock digital experiences or grant exclusive access to events.

Best Wallets for Storing NFTs

Safeguarding your digital assets, including NFTs, is crucial for any investor. Selecting a reliable and user-friendly wallet for storing NFTs is a vital step in the investment process. Let’s take a look at some of the top wallets for storing NFTs, highlighting their features, security measures, and compatibility.

• MetaMask: As a popular browser extension and mobile app, MetaMask is compatible with Ethereum and Ethereum-based NFTs. Its user-friendly interface makes it easy for beginners to store and manage their NFTs. MetaMask provides seed phrase protection and allows users to create multiple accounts. It also integrates with most NFT marketplaces, enabling seamless transactions and token transfers.
• Coinbase Wallet: Developed by the popular cryptocurrency exchange Coinbase, this wallet has support for  various blockchains such as Binance Smart Chain, Polygon, and Ethereum. Coinbase Wallet provides a simple interface for managing NFTs and is available on both mobile and web platforms. It offers high security through biometric authentication, encrypted private keys, and seed phrase backup.
• Enjin: Enjin Wallet is designed specifically for gaming and NFT enthusiasts, making it an excellent choice for storing NFTs from gaming projects like Axie Infinity and The Sandbox. The wallet supports Ethereum NFTs and comes with amazing features like swapping options, infinite wallet creation, and more.
• Trust Wallet: Trust Wallet is a mobile-first wallet supporting multiple blockchains including Ethereum, TRON, and Binance Smart Chain. It offers an intuitive interface for managing and storing NFTs. Trust Wallet ensures the security of users’ assets through seed phrase protection, biometric authentication, and encrypted private keys. Additionally, the wallet integrates with decentralized exchanges (DEXs), allowing for seamless token swaps.
• AlphaWallet: AlphaWallet is an open-source wallet that supports Ethereum and Ethereum-based NFTs. Its clean interface allows for easy management of digital assets, including NFTs. Security features include seed phrase backup, hardware wallet integration, and secure enclave technology for private key storage. AlphaWallet also enables users to interact with decentralized applications (dApps) and NFT marketplaces directly from the wallet.

When choosing a wallet for storing NFTs, consider factors such as compatibility with the NFT’s blockchain, ease of use, security measures, and integration with marketplaces and dApps. Always remember to back up your seed phrase, enable two-factor authentication, and keep your private keys secure to protect your digital assets.

How to Buy NFTs

Follow these steps to purchase NFTs:

• Create a digital wallet: Set up a wallet compatible with your chosen NFT marketplace. Generally, the top wallets like Metamask and Trust Wallet are compatible with marketplaces.
• Connect your digital wallet to the NFT marketplace: Follow the instructions on the marketplace to link your wallet.
• Fund your digital wallet with a cryptocurrency: Purchase cryptocurrency (e.g., Ethereum or Binance Coin) and transfer it to your wallet.
• Search for an NFT in a marketplace: Browse the NFT marketplace to find tokens that align with your investment goals.
• Start buying NFTs: Place bids or purchase NFTs outright, ensuring that you have enough cryptocurrency in your wallet to cover the transaction.

NFT Scams

NFT scams exploit the excitement around digital collectibles, targeting unsuspecting investors through various tactics.

• Rug-Pull Scams: In this type of scam, scammers create a hyped-up NFT project, attracting buyers who invest in the tokens. Once they’ve raised enough money, the scammers abandon the project and vanish with the funds.
• Phishing Scams: Phishing is an age-old scamming technique in which hackers trick users to reveal passwords, sensitive info, and private keys via fake websites or emails, allowing scammers to steal their NFTs or cryptocurrency.
• Bidding Scams: This scam revolves around artificially inflating the value of an NFT by placing fake bids, luring unsuspecting buyers into purchasing overpriced tokens.
• Pump-and-Dump Schemes: Scammers hype an NFT project to drive up its value, then sell their tokens at a high price before the market inevitably crashes.
• Plagiarized NFTs: It refers to creating and selling NFTs that use stolen artwork or designs, infringing on the original creator’s intellectual property rights.

• NFT Giveaways: Scammers host fake NFT giveaways, requiring participants to send cryptocurrency or personal information to enter, only to steal the funds or data.
• Investor Scams: Scammers pose as NFT investors, offering to buy an NFT at an inflated price but requiring the seller to pay a fake “transaction fee” first, which they pocket.
• Customer Support Impersonation: Fraudsters impersonate customer support representatives of legitimate NFT platforms. Scammers try to trick users into believing that they are being contacted by support services. Unsuspecting users often give away their private information.

How to Avoid NFT Scams

Conduct thorough research on NFT projects and creators before investing. We also suggest never share your private keys or personal information with unknown sources. You should also verify the legitimacy of websites and emails related to NFT transactions. Using reputable NFT marketplaces and platforms is another way to keep yourself safe. In the end, be cautious of NFT projects or deals that look unrealistic.

Conclusion

NFTs offer exciting investment opportunities in the world of digital art, gaming, and collectibles. As a beginner investor, it is important to always make informed decisions. You can do this by understanding the top NFT projects, learning how to find investable NFTs, and securing your tokens in a reliable digital wallet. Lastly, it is also important to be vigilant about scams. We hope that this blog post has answered all your questions about NFT investments and purchasing.