NFT stands for “non-fungible token”. Something that is not fungible is distinct and unique; it is composed of constituent elements which are not interchangeable. There are many projects that use NFTs that have a very high potential to make significant gains in the next bull run. Here are 3 NFT projects worth looking into – Big Eyes (BIG), Axie Infinity (AXS) and Bored Ape Yacht Club.
Come aboard the Bored Ape Yacht Club
Bored Ape Yacht Club is an NFT project launched by Yuga Labs, where investors can purchase a unique NFT style monkey character. Bored Ape Yacht Club has divided the seas and polarized the public – either people hate them and think NFTs are a useless scam, or people love them and will pay up to £3.4m for just one NFT .
However, while most criticize the project as overpaying for a digital image you could capture, the Bored Ape Yacht Club focuses on community events. Apefest is an exclusive event for Bored Ape NFT owners only, featuring free drinks and musical performances from artists including Eminem, Snoop Dogg, Future, Lil Wayne, The Roots and Lil Baby. Apefest takes place every year, a star-studded Soho House type event with many celebrities in attendance. This is one of the incentives for owning a Bored Ape, a VIP ticket to connect with others with similar interests.
If you believe in the cultural value of Bored Apes and cannot afford to invest in an NFT, then investing in ApeCoin (APE) is a great alternative to stay involved with the project. Bored Ape Yacht Club uses ApeCoin as a governance token and to engage in the APE ecosystem. ApeCoin was started by the Ape Foundation, a separate organization from Yuga Labs.
Fighting your way through the game: Meet Axie!
A common criticism of NFTs is that they have no inherent utility. One of the most popular P2E games right now is Axie Infinity (AXS) – an Ethereum-based game where players collect, battle, and trade NFT creatures called Axies. Acquiring better NFTs will greatly improve your chances of winning more games competitively and winning monetary prizes through tournaments and esports.
NFTease: Big Eyes will launch NFTS soon
Big Eyes (BIG), a rising meme coin, aims to dethrone Dogecoin (DOGE) and become one of the most talked about meme coins this year. He has not yet launched the NFT part of his project. However, Project NFT’s launch is just around the corner, as Big Eyes is currently navigating the presale, with $9 million raised so far! Adding NFT to Big Eyes will add even more value to the project as people will be able to buy and own a unique cat. In the same vein as Bored Apes Yacht Club, Big Eyes NFTs will serve as entries to exclusive events. Big Eyes NFTs are a natural extension of his strong focus on community building.
The first planned NFT project is Big Eyes Going to Sea, a very fitting piece of art as Big Eyes ventures into the NFT market, OpenSea for the first time. But this focus on the ocean is also tied to Big Eyes’ deep care and concern for the natural environment. Big Eyes is a meme coin with a big heart, a cornerstone of its operation as a cryptocurrency giving back to the world and community. 5% of all tokens will be stored in a visible charity wallet, focusing on donations to ocean conservation charities. Additionally, Big Eyes regularly donates to other charities, such as Luna Children, the most recent being $1,000 to PetsforVets, a charity that matches shelter animals with military veterans. .
While there is no tax on purchases of Big Eyes tokens, for NFTs there will be a 10% tax. The original seller will receive 4%, holders will receive 5%, and the remaining 1% will go to charity. It doesn’t sound like much on paper, but through many different purchases, the 1% will have raised a considerable amount of money to donate to charity.
Many people dismiss NFTs as a useless fad, but in reality, there are plenty of projects making full use of blockchain technology to create innovative use cases for NFTs, from creating Pokémon-style creatures as NFTs, to giving back to the world through charitable donations, bringing the community together with exclusive events.
Big Eyed Coin (BIG)