Table of Contents

Introduction

Non-fungible tokens (NFTs) took the world by storm in 2021. The NFT market surpassed $40 billion in sales volume that year. With so much hype and money pouring into NFTs, many people want to invest in the next big NFT projects. However, the NFT space can be risky and volatile. Doing proper research is essential before investing in any NFT project. Here is an overview of some of the best NFT projects to invest in for 2023.

How to Evaluate an NFT Project

When researching best NFT projects to invest in, there are several factors to consider:

Utility – Does the NFT provide any utility beyond just ownership? For example, does it give access to a members club, events, or metaverse? NFTs with real-world utility tend to hold more value.
Community – What is the size and engagement of the community around the NFT project? Active and growing communities show strong support.
Team – Who created the NFT project and what are their backgrounds? Legitimate teams that are doxed lend credibility.
Roadmap – Does the project have a public roadmap for future development? This indicates long-term plans.
Blockchain – On what blockchain does the NFT project mint tokens? Ethereum is currently the most popular.
Supply – What is the total supply of NFTs available? More scarce NFTs can have higher value.

Top NFT Projects to Watch

Based on the above criteria, here are some of the best NFT projects to invest in for 2023:

Bored Ape Yacht Club

One of the most popular NFT projects, the Bored Ape Yacht Club features a collection of 10,000 unique Bored Ape NFTs on the Ethereum blockchain. The art is visually appealing and owners gain access to an exclusive community. Bored Ape NFTs routinely sell for over $100,000.

CryptoPunks

CryptoPunks are algorithmically generated pixel art portraits. There are only 10,000 Punks, making them very rare. Owners get status, community access, and commercial licensing rights. CryptoPunks often sell for $200,000 to $1 million+.

Axie Infinity

Axie Infinity is a Pokemon-inspired digital pet universe built on the Ethereum blockchain. The NFT creatures called Axies can battle, breed, and be used to earn crypto. Axie has a strong community and over 1 million daily active users.

Doodles

Doodles are colorful abstract characters randomly generated on a gradient background. Holding a Doodle unlocks access to events and merchandise. There are only 10,000 Doodles available, driving up demand. Their floor price is over $7000.

Azuki

Azuki NFTs showcase anime-inspired avatars created by artist Chiru Labs. Holders get access to digital and physical events as part of the community. There are only 10,000 Azukis, and the floor price is around $7000.

Moonbirds

Moonbirds is a collection of 10,000 algorithmically generated owls made by Proof Collective. Owning a Moonbird unlocks membership in an exclusive club. Moonbirds sell for an average price of $20,000-$30,000.

Mutant Ape Yacht Club (MAYC)

A spin-off of the Bored Ape Yacht Club. MAYC has 20,000 mutated apes generated algorithmically. MAYC holders get full commercial rights and access to members benefits. The collection has an average floor price of about $15,000.

Cool Cats

Cool Cats is a collection of 9,999 randomly generated and visually fun NFTs on Solana blockchain. Holders get commercial rights and access to a members-only Discord. Cool Cats have sold for as much as $482,165.

World of Women (WOW)

World of Women highlights diversity and inclusion by featuring female NFT avatars. WOW gives back to women’s charities and has a large global community. The floor price for WOW NFTs is around $6000.

Tips for Investing in NFTs

Do your research – Evaluate the project’s team, roadmap, community, and utility before investing.
Join Discords – Follow a project’s Discord channel to gauge engagement and sentiment.
Don’t FOMO buy – Resist the fear of missing out and pressure to buy at peak hype.
Watch the floor – Monitor a collection’s floor price, or the lowest price currently listed.
Hold for utility – If investing for long-term value, choose NFTs with lasting utility.
Diversify – Consider investing in a handful of promising projects rather than just one.

Conclusion

NFTs offer exciting opportunities but also plenty of risks. By applying the right investment criteria and strategies, you can navigate the NFT space more effectively. Projects like the Bored Ape Yacht Club, CryptoPunks, Axie Infinity, and others show strong potential for 2023. Just be sure to do thorough research and manage risks before investing in best NFT projects to invest in.

Best NFT projects to invest in 2023

Introduction

How to Evaluate an NFT Project