Without a doubt, NFTs are a trend. Since the rise in popularity of these digital tokens, numerous projects have been created that have increased their usefulness. Although a few of these ventures have achieved great success, most do not. Additionally, it typically leaves collectors and investors with a useless JPEG.

Millions of NFTs are available for purchase, and it feels like thousands of new initiatives start up every day. Given the size and continual expansion of the NFT universe, it is realistic to assume that not all of these assets will increase in value.

What NFT project would therefore be the best one to invest in? Should you finance an NFT project, too? In today’s blog, we are going to tell you all about NFT projects and also the top 18 utility nft projects.

1. CryptoPunks

Larva Labs, a two-person development company that specializes in everything from web infrastructure to digital design and art to mobile games and utilities, launched CryptoPunks. The London punk movement, as well as cyberpunk literature and movies, served as inspiration for the team as they developed a pixelated character generator. Considered to be the most expensive NFT project ever is CryptoPunk. The project currently has 5,238 purchasers and a total trading volume of 2,084,406,290 USD.

Key Features:

• It is a well-known project with 10,000 original punk-themed characters.

• There are twelve different categories of value for these CryptoPunks.

• The most prevalent kind is Human Punks. Other uncommon Punk species exist as well, including Zombie Punks (24), Ape Punks (9), and Alien Punks (88).

• The collection's most valuable piece, Alien Punks, sold for more than $8 million at an auction.

• The most costly NFT in the CryptoPunk collection cost an incredible 124,457 ETH to buy (about 532 million USD).

2. Bored Ape Yacht Club

Four unnamed co-founders of Yuga Labs' Bored Ape Yacht Club (BAYC) — Gargamel, Gordon Goner, Emperor Tomato Ketchup, and No Sass — came up with the concept. The collection is housed on IPFS and kept as ERC-721 coins on the Ethereum network. On the Ethereum blockchain, the project's 10,000-pixel NFT avatar collection is hosted.

Key Features:

• Because there are no two NFT characters exactly identical, BAYC is one of the most popular NFTs collections. This increases the value of each NFT in the BAYC collection dramatically.

• Despite being a relatively new initiative, BAYC faces stiff competition from a number of established NFTs projects that have already been made public.

• The project was listed by Decrypt as the second most well-known NFT project that has garnered attention, right after CryptoPunks.

3. Axie Infinity

The non-fungible token-based online game Axie Infinity was created by the Vietnamese firm Sky Mavis. The game is renowned for its cryptocurrency-based in-game economy, which is based on Ethereum. Nintendo's preferred Pokémon series serves as its inspiration.

Key Features:

• One of the major characters in the NFT sector, Axie Infinity is well known for developing the idea of play-to-earn NFT games.

• The Axie Infinity Game's in-game animals are referred to as axes. A minimum of three Axies must be purchased in order to play the game.

• The cost of these Axies fluctuates and rises as the platform becomes more and more well-liked.

• Depending on its features and attributes, each Axies is valued differently, but you can still get a respectable one for about $200 right now.

4. ArtBlocks NFT Project

A venture called ArtBlocks gives collectors access to a network of individual, programmable, and configurable NFTs that are built on the Ethereum blockchain. Erick Calderon, who was involved in the ceramic tile industry, and Jeff Davis launched it in 2021.

Key Features:

• The idea behind this project is to use blockchain technology to enable artists to combine digital elements to produce one-of-a-kind NFT artworks. It's built around blocks.

• With Art Blocks, the computer chooses what to mint at random, and both the artist and the customer approve it. As a result, generative art has reached a new level. The artist must go back and tweak the algorithm until it is perfect since Art Blocks demands that they sign each and every algorithm output. They are unable to merely choose the top outcomes.

• This project achieves this by using NFT drops, in which users mint NFTs without knowing what kind of NFT art they will ultimately receive.

5. Mutant Ape Hatch Club NFTs

Yuga Labs' The Bored Ape Yacht Club was a huge success, and the follow-up, The Mutant Ape Yacht Club, was created. The Bored Apes were monopolized by celebrities and businessmen, therefore a mutant ape project was started that offers a less expensive way to access the same network.

Key Features:

• A total of 20,000 Mutants were made available, with some of the rare "Mega Mutants" fetching as much as 3,000 ETH ($9 million).

• Members of the Bored Ape Yacht Club received the Mutant Apes via airdrop.

• You can get early access to Adidas' "Into the Metaverse" NFT project, which is already selling for more than three times its retail price, by purchasing any of Yuga Labs' 30,000 apes (both bored and mutant).

• Investors anticipate that in the future, the minimum price for an MYC will be in the range of 25 ETH. Being a part of this initiative pays.

6. NBA Top Shot NFT

Basketball fans may display their enthusiasm by collecting "NBA moments," a collection of NBA highlight videos that can be traded like cards, in NBA Top Shot, an NFT initiative developed by Dapper labs. As of right now, there have been 419,583 buyers and a total trading volume of 938,251,588 USD for NBA Top Shot.

Key Features:

• Essentially, it is a cooperation between NBA and Dapper Labs, a blockchain startup with a $7.5 billion valuation.

• NBA Top Shot does a good job of simulating the tactile souvenir-collecting experience of basketball fans in the real world.

• The value of a user's library of NBA highlights might also rise with time.

7. Meebits NFT

Meebits was developed by Larva Labs as a sequel to the popular CryptoPunk game. A collection of 20,000 3D figures inspired by well-known video game characters, including those from Minecraft and Roblox, make up Meebits, another remarkable NFT creation.

Key Features:

• In May 2021, the initial offering of 9,000 NFTs sold out for 22,500 ETH in eight hours.

• Meebits can be sold on any cryptocurrency exchange platform because it is based on the Ethereum blockchain and adheres to the ERC-721 token standard.

• Additionally, the NFTs created for this project can be used as avatars in video games, virtual environments, and the metaverse.

• Meebits is listed as the eighth most successful NFT project of all time on Cryptoslam's list, with a total trading volume of 404,398,876 USD.

8. Crypto Baristas

The First All-encompassing Caffeine Experience, with 1 NFT purchase equaling lifetime benefits and contributions to communities who grow coffee is Crypto Baristas. The donations' aim is to support the farm's and producer's operations by promoting openness, sustainability, better processing, and striving for Honduras' Cup of Excellence.

Key Features:

• The second season of Crypto Barista will debut with 66 caffeinated characters whose ownership contributes to the livelihood of a Honduran coffee farming community.

• On June 27, 2022, Crypto Baristas Season 2 starts minting.

• Owners of a Crypto Barista get reduced coffee from Coffee Bros. and all future partners as well as other caffeinated benefits for life.

• Owners will collaborate with and give to groups who are working to change things in order to support the communities in Honduras that cultivate coffee.

9. Azuki NFT Project

The name of this NFT project makes it clear that anime in the Japanese style was an inspiration. At the time of writing, Azuki had an overall trading volume of 374,334,143 USD. S

Key Features:

• The idea for this initiative originated with Chiru Labs, a group of four unidentified youths.

• Despite the fact that the Azuki project was only launched at the beginning of this year, it broke a sales record by selling 8,700 characters in less than three minutes and earning over 29 million dollars.

• OpenSea data indicates that 30 days after its first release, this NFT project sold collectibles worth approximately $300 million USD, placing it at the top of the leaderboard for trading in digital collectibles in January 2022.

10. CloneX

An NFT collection called CloneX contains 20,000 different 3D avatars. The CloneX avatars can be used by collectors in games, movies, and other media. As of this writing, CloneX has 7,008 total buyers and a total trading volume of 456,296,886.

Key Features:

• The project is the result of a partnership between Takashi Murakami, a Japanese artist, and RTFKT.

• The artist is renowned for his distinct aesthetic and bold color palette, both of which can be seen in numerous renowned art collections.

• All of the avatars in this collection were made with Daz 3D and RTFKT technology and have a combination of realistic features and characteristics that are influenced by Murakami.

11. Proof of Beauty Studios NFTs

The outstanding NFT project Proof of Beauty is focused on honoring and preserving the legacy of the Ethereum blockchain. Before starting from scratch, the group first compiled a history of Ethereum.

Key Features:

• Users can convert previous and private blockchain transactions into NFTs using Proof of Beauty's HASH series of NFTs.

• This project's algorithm transforms transactional information into forms, color schemes, and textures.

• The NFT from Vitalik's original Ethereum transaction through Jay-Cryptopunk Z's purchase is one of the most well-known of these NFTs.

• Shortly after its debut, LONDON, the second series from Proof of Beauty featuring an assortment of 8,888 Ethereum generative artworks, was sold out.

• London gift NFTs were made available during the hard fork, and the first transaction following the EIP-1559 upgrade took place on the sale of London NFTs.

12. Upland

Upland is a cutting-edge blockchain-based metaverse NFT project with real-world addresses mapped to it. Uplandme, Inc., a Silicon Valley startup sponsored by Block. one (the developers of the EOS blockchain) and business leaders from the gaming, real estate, and technology industries, established and manages the project. The company was founded by Mani Honigstein, Idan Zuckerman, and Dirk Lueth.

Key Features:

• Through the use of play-to-earn features, this platform enables individuals and companies to commercialize their land (metaverse space).

• Players can buy and sell NFT land using the project's provision of Upland's token, UPX. There is also a 6,000 UPX welcome incentive for new users.

• The cost of land in Upland is among the lowest in the metaverses, with prices beginning at only a few dollars.

13. Metaverse Land

Virtual reality, often known as metaverse land, is one of the most intriguing NFT concepts to invest in. Decentraland is one example of a metaverse land project. Ari Meilich and Esteban Ordano, both from Argentina, launched Decentraland in 2015. Digital land plots cost about $20 when it was launched in 2017, while Mana tokens were only worth $0.02. Consider the increase over a brief period of time.

Key Features:

• One of the most complete virtual reality ecosystems where virtual space may be bought and sold.

• With the use of this platform, you may also profit from the development of your land; some investors have done this by erecting NFT casinos, amusement parks, and museums.

• Others only invest speculatively in virtual reality land, planning to sell it at a profit later.

14. Rich Cats Nation

On the Binance blockchain, there are 1,000 NFTs in the collection Rich Cats Nation. The project gives users the opportunity to acquire original works of digital art featuring cats that have various random unique traits.

Key Features:

• Similar to past well-liked NFT collections, some Rich Cats are thought to be rarer than others, leading to higher secondary market valuations.

• Rich Cat NFT has a value of 0.0085 ETH, a $2,284.202 trading volume, and a market cap of $57,195.729.

• You can join Rich Cat Nation, an exclusive group with a number of benefits if you own a Rich Cat NFT.

• The benefits include royalties, NFT Airdrops, live events, Rich Cat apparel, and more.

15. Doodles

If you're seeking long-term growth, one of the best non-traded funds to invest in right now is Doodles. The NFT market has been completely taken over by this 10,000-character collection, which includes anything from pickles to bones to animals. Illustrator Scott Martin draws each Doodle by hand, making each one entirely unique. Doodle NFT is quite valuable, with a price of $50,227.12 as of this writing. A total of 10000.0 NFTs have been issued, and they are held by 4631.0 different owners, for a market cap of $502,271,202.24.

Key Features:

• 10,000 generative NFTs were created by Jordan Castro, Scott Martin, and Evan Keast. The group's "working aliases" are Poopie, Burnt Toast, and Tulip. Keast and Castro were well recognized in the NFT world before Doodles because they helped launch the renowned NFT project CryptoKitties in 2017.

• Martin, on the other hand, has been developing his creative identity within the NFT realm for almost a year and minting his own pieces.

• The Doodles NFT initiative stands out from others in that token holders are involved in the growth of the community.

• Having a Doodle gives you the right to vote on specific subjects.

• Voting for experiences and activations funded by the Doodles Community Treasury is possible for each Doodle.

16. MetaTriads

Another important NFT project is Meta Triads. One cyberpunk character can be seen on each of the 10,000 NFTs in the Meta Triads collection. Each Meta Triad is represented by a cyberpunk Human, Humanoid, or Hybrid figure. Ownership of the Meta Triad, however, also comes with a variety of intriguing extra benefits in addition to the distinctive digital art. The value of the global apparel market was estimated to be 1.5 trillion dollars in 2020 and 2.25 trillion dollars in 2025.

Key Features:

• The most notable benefit is being eligible for Meta Triads Marketplace shares if you have a Meta Triad NFT.

• The business is developing an aggregator marketplace that will let clothing producers electronically display their goods.

• NFT owners of Meta Triads will have ownership stakes in the market and receive TRIA$, the native token, for each sale.

17. Zed Runs

A digital racehorse NFT on the blockchain that sold for $125,000. The Virtually Human Studio created it. It is an NFT project based on a computer game of horse racing. A cryptocurrency built on the Ethereum blockchain is called Zed Runs NFT. the launch of the platform in 2019. According to Chris Ebeling, co-creator of Virtually Human and founder of Zed Runs, there is a possibility for expansion and individuals might possibly make a living by trading, breeding, and racing virtual horses. Zed Runs NFT now has an average selling price of $142.3 and a $349.440,00 sales volume.

Key Features:

• The same rules apply to buying and owning horses as NFTs do.

• Horses used to cost under $30, but since then, prices have increased to a peak of $125,000 and frequently reach over $15,000. Over 11,000 horses have been sold since then, and an additional 8,000 have been created specifically for the game.

• Many stables mix breeds and genes to create exceptional racehorses.

18. Yubo

Yubo is a social live streaming platform that makes it simple to interact with friends and make new acquaintances from across the globe. It can be used for gaming, watching YouTube videos, and communicating. The brand's first NFT collection, Yubo Randos, recently went on sale. Randos are available for purchase at Yubo's NFT auction for 0.1 ETH each.

Key Features:

• Making new friends with similar interests or creating your own community of like-minded individuals is simple with Yubo.

• Everyone requires a rando in their life, according to the collection's premise. Even if they are careless, they are typically the most memorable people.

• The ability to send, share, and pin your Rando NFT via the Yubo app is one of the main benefits for Yubo users.

• Later this year, Yubo intends to introduce special gatherings and live broadcasts for Rando NFT owners so you may create a network of NFT collectors who share your interests. In July 2022, the first private event is anticipated.

• Randos can also be acquired by current Yubo users through giveaways and other opportunities.

Things to Consider Before Investing in Utility NFT Projects

Establish a Budget

NFT investment might be pricey. Therefore, it's crucial to choose NFTs that fit your spending plan and level of risk tolerance. Don't just invest money into a "blue-chip" enterprise because investors have received significant returns. The finest piece of advice is to consider a project's possible ROI (Return on Investment). Early participants in a project are more likely to see far better returns from smaller projects than from those that have already gained widespread attention.

Find An Appropriate Project

Look around for a platform that can provide you with an overview of potential NFT projects after establishing a budget. For instance, the future platform Moonly ranks initiatives on the Solana NFT blockchain according to 18 criteria. Its goal is to screen concepts with a high potential for success. Many more platforms have been developed around this idea. Consider OpenSea and Nansen as other examples.

Project Service

The first characteristic to consider is the project's utility once you've narrowed down the prospective list of NFT initiatives. Utility-oriented NFT projects provide benefits that go beyond monetary value. These NFTs are more than just works of art because owning them gives you access to special events that are open exclusively to members, ownership of in-game characters, dividends, the ability to unlock one-time-only experiences, and other benefits. Project utility is without a doubt the distinguishing characteristic of a potentially successful NFT, as these initiatives continue to draw investors by raising the value of their brand.

Active NFT Community

Another approach to learning about new initiatives is to join an active NFT group and follow prominent NFT collectors. Popular NFT groups frequently have a paywall because of the value they can offer to their members. A thriving neighborhood also guarantees that the NFT project gets off to a great start.

Conclusion:

Finding the characteristics of a great NFT project or a worthwhile investment is not always simple. We put together projects that were more than just works of art while selecting the top NFT projects for 2022. (called Utility NFTs).

The term "utility NFT" refers to NFTs that gives the artwork a specific purpose, such as admission to an event, exclusive in-person membership, or access to in-game items. Find a utility project that you would profit from when choosing what to search for in your first NFT buy.

FAQs

What is an NFT Project?

A unique group of NFTs with a specific utility is referred to as an NFT project. The NFTs in this collection are not different from other NFT artwork. The primary distinction is the increased output of NFT projects.

Typically, NFT arts are produced on a small scale by lone artisans and sold on the NFT market. In contrast, NFT initiatives are developed by large corporations, and trading takes place on their platforms.

What is a Utility NFT Project?

An NFT gives the digital asset a purpose beyond being merely a work of art to own. In addition to receiving a physical work of art that matches the NFT you bought, a utility NFT may also grant you privileged admission to an event, exclusive in-person memberships, or future use in the digital sphere (think to the game).

Where can I locate the top NFT Projects?

Finding financially sound NFT ventures can be difficult. There are different things to think about and various places to research. I hope this has given you some ideas and possibilities to consider.

Search Engines for the NFT Project

To identify the most recent NFT projects, consult websites that are NFT project-focused.

• Sorts and ranks NFTs based on rarity

• See hot NFTs in real time using NFTScoring.

• Browse future NFTs using UpcomingNFTS.

• Evening NFT

Twitter is Your Best Friend

Twitter is without a doubt the king and the place where NFTs live. It is one of the best places to discover new communities, hear about upcoming projects, and keep up with ongoing projects. Twitter is an excellent resource for finding projects and promoting your own NFTs and collectibles.

Discord is Where It Starts

Discord is a great resource for finding NFT projects, albeit it isn't always the easiest to utilize. A Discord server will be available from every NFT effort, group, or influencer worth their salt. Discord is a text, voice, and video chat application that uses servers, which are mostly exclusive invite-only places. They stand apart from other platforms because of their particular focus on communities with like-minded members.

What NFT should I purchase?

But how can one choose the NFT project that will be successful when there are so many of them available? How do you distinguish between people who will succeed and people who won't?

There are no magic eight-balls, but there are several basic strategies that can help you land the ideal assignment. Always arrive early to create a lasting impression! You still have time to choose from the list of excellent NFT projects that we have included in this article.

How Should NFTs Be Valued and Worth?

The largest NFT marketplace, OpenSea, has more than 4 million assets listed for sale as of this writing, and that number is increasing rapidly every day. With each new piece of artwork or initiative that debuts in the NFT sector, the value will undoubtedly decrease. There will be so much art and so many artists that it will be difficult to determine what will or should be valuable.