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What do today’s top 3 NFT projects on Open Sea have in Common?
The short answer is "not much." What they do have in common is success. They also have an enthusiastic community of supporters.
Crypto Punks
The punks are the gold standard of the NFT space. They were the first to find major success. Collectively, they have traded over half a billion Ethereum. That’s more than 2 billion in USD. Artistically? Nothing spectacular. They are a collection of 10,000 pixelated head—all with the same pose. Some of them are wearing a hat. Some have an earring. Some smoke. Some have on a mask. That’s it. And if you have one, then your status in the NFT space is in good standing. There are none listed for sale currently on Open Sea. If one does go up for sale, it is immediately swept up and hodled. If you don’t already own one, don’t expect to ever get one unless you are willing to make a major investment. Visa recently bought one for $150,000. That seems like a steal considering the top all-time sale was for over 7 million. That was for punk# 3100. That’s right. That’s him below.
Bored Ape Yacht Club
In the evolution of NFT’s the BAYC was the next really big thing and it is still rocking hard. This one gives you immediate status in the community as well. If you are on , you will see ape owners proudly showing off their apes as their profile pictures. I have put in some low ball offers for an Ape, but my budget can’t compete with the big dogs. Artistically, these are more complex than the punks. The artist moved away from pixels and drew these charming cartoon apes with human-like qualities, and nearly always an expression of boredom. They are quirky, they are fun, and yes, they are expensive. You can buy one of these apes for 35 Ether or so. Check out this fella, Ape 3802:
This project is quite different from the punks and apes. It is an LLC that allowed the public to mint directly on their site/app for prices like 0.1 ether. That's right. That fits within the budget of most of us. If you were in the community when these were being minted, you could have one listed on Open Sea right now and be planning your successful sale party. Once they all sold out, they were minted on Open Sea a few weeks ago. They are now selling for more than 10x that amount with a floor price of 1.3 Ethereum. This flurry of activity has them now ranked number 3 on Open Sea. Will they remain strong? Will everyone want a Doodle? Will it become a status symbol like an ape? Who knows? I wish I did. If so, I would buy one right now. There have been other projects that shot up the rankings and just as quickly dropped back to earth, leaving people frustrated and a bit poorer for their investment. Here is Doodle 2770 below:
Now before you look at these and think, "I can do that." The art is pretty simple. I get it. But it is more about building a community. People have to get behind the project or it will never get off the ground. Perhaps you can do it. I am trying myself with my own collection of Freaky Frogs. I am building my community and determined to succeed. Perhaps I will write about that later. Follow me here and on if this sort of thing interests you. My next article on this topic will be: "Finding the Next Big Thing."
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