Must-see! Complete analysis of 50 top NFT projects, grasp the new direction of blockchain assets

From Edge to Mainstream: The NFT Revolution

In 2014, artist Kevin McCoy minted the world’s first NFT—Quantum—on Namecoin, but at that time, little was known about this digital asset. It wasn’t until 2017, with the emergence of NFT collections like CryptoPunks on the Ethereum network, that this asset class truly entered the public eye.

Ethereum became the cradle of NFTs due to its powerful smart contract platform. In comparison, scaling solutions like Polygon, Ronin, and Arbitrum reduced transaction costs, but Ethereum still firmly holds the “top spot” in the NFT ecosystem—most NFT transactions are still completed here.

As digital assets stored on the blockchain, NFTs offer a new way to prove ownership. They can link to digital images, music, videos, and also represent virtual avatars, event tickets, or even ownership certificates for physical assets like cars. This flexibility has rapidly expanded NFT use cases—from digital art, game items, virtual real estate, to key resources in the metaverse—almost everywhere.

Celebrity Effect Drives Ecosystem Prosperity, Bear Market Creates Optimal Investment Opportunities

Curry’s bored ape avatar, Jay Chou’s endorsed Phantom Bear, Nike’s virtual sneakers, Tiffany’s Mempo necklace… From sports to entertainment, fashion to internet giants, well-known brands and celebrities have entered the NFT space, fueling explosive growth in the ecosystem.

However, since this year’s crypto winter, the NFT market has been under pressure. Data shows that August’s on-chain Ethereum NFT trading volume hit its lowest since 2021. Trading volume declined, market cap shrank, and market sentiment plunged.

Yet, historical experience tells us— the worst times are often the best times. During bear markets, true builders do not stop; they continue to optimize, upgrade, and innovate. Traditional companies are no longer watching from the sidelines but are quickly entering this track. For participants seeking the best NFT investment projects, this period is full of opportunities.

Top 50 Influential NFT Projects Overview

Based on market cap, trading volume, and ecosystem influence, here are the most noteworthy NFT projects:

Leading PFP Projects: The King of Collectibles

CryptoPunks—Pioneers in the NFT space

• Launched June 2017, 10,000 pixel-style avatars
• Includes rare types like humans, zombies, apes, aliens
• Holders include Visa, Jay-Z, Serena Williams, and other celebrities
• Acquired by Yuga Labs in 2022, with owners gaining full commercial rights
• Tiffany launched custom “NFTiff” pendants, priced at $50,000 each

Bored Ape Yacht Club (BAYC)—Community-driven exemplar

• Launched April 2021, 10,000 unique ape avatars
• Composed of over 170 randomly combined attributes
• Luxury brands like Gucci, adidas, Li Ning collaborate
• Owned by stars like Mark Cuban, Stephen Curry

Azuki—Japanese anime-inspired disruptor

• Launched January 2022, blending Japanese anime aesthetics
• Creative team from Facebook, Google, and other major firms
• Plans to expand into offline streetwear and live events
• Supported by NBA star Wiggins, Chow Tai Fook’s Zheng Zhigang

Mutant Ape Yacht Club (MAYC)—Innovative ecosystem incentive

• Released August 2021, 20,000 NFTs
• Half sold via Dutch auction, half airdropped to BAYC holders
• M1/M2 serums produce mutants, M3 serum is rarer
• Serves as a secondary club membership pass

Doodles—Colorful creative hub

• Launched October 2021, 10,000 hand-drawn characters
• Designed by illustrator Scott Martin, vibrant colors
• Pharrell Williams as Chief Brand Officer
• Backed by Seven Seven Six

Cool Cats—Community-supported benchmark

• Launched July 2021, 9,999 randomly generated avatars
• Owned by Tyson, Reese Witherspoon, and others
• Partnered with Creative Artists Agency (CAA) to explore derivative IPs

Virtual Worlds & Metaverse: Future Habitats

The Sandbox

• Developed by Animoca Brands, a Play-to-Earn game ecosystem
• Players can create assets and earn profits
• Brands like Adidas, Gucci, HSBC, Warner Music, PwC have entered
• Completed $93 million funding in November 2021, led by SoftBank Vision Fund 2

Decentraland

• Founded in 2015, a 3D virtual world with 90,601 LAND parcels
• Supports buying, building, decorating virtual properties
• MANA token used for transactions and virtual goods
• Brands like Estée Lauder, Tommy Hilfiger, Samsung build virtual showrooms

Otherdeed for Otherside

• Metaverse land by Yuga Labs in partnership with Animoca Brands
• Launched April 30, 2022, BAYC/MAYC holders had priority minting
• Public sale generated 61,832.93 ETH in gas fees

CloneX

• 3D virtual characters by RTFKT and Japanese artist Takashi Murakami
• 20,000 avatars for AR filters and games
• Acquired by Nike’s RTFKT in December 2021
• Granted commercial rights to holders in August 2022

Cryptovoxels

• Launched May 2018, a virtual world
• Players can buy land, build shops and galleries
• Total land limited to 70,000 parcels

Gaming & Utility: Exploring Play-to-Earn

Wolf Game

• Launched November 2021, fully on-chain game
• 20,000 genesis plots combining NFTs and DeFi
• Players stake wolf and sheep NFTs for rewards

Crypto Kitties

• Launched November 2017, the first blockchain game
• Over 2 million cat NFTs generated
• Spawned Dapper Labs and Flow blockchain

Sorare

• Launched March 2018, football player card game
• Supported by top European clubs and major leagues worldwide
• Valued at $4.3 billion in 2021, raised $680 million
• Collaborated with MLB in August 2022 for fantasy NFT game

NFT Worlds

• 10,000 unique 3D decentralized worlds
• Built on Minecraft ecosystem
• After Minecraft banned NFTs in July 2022, shifted to independent development

Art Generation & Creative Platforms: Algorithms Meet Aesthetics

Art Blocks

• Launched November 2020, on-chain generative art platform
• Divided into Curated, Playground, Factory tiers
• Users can mint unique algorithm-generated artworks

Hashmasks

• Launched January 2021, 16,384 unique digital portraits
• Created by over 70 global artists
• Blind box mechanism + Name Changing Token (NCT) for naming

Loot

• Launched August 2021, 8,000 text-based gear packs
• Show adventure gear sets with black background and white text
• CC0 project encouraging creators to develop derivatives

Autoglyphs

• Launched April 2019, 512 on-chain generated artworks
• Developed by Larva Labs, Ethereum’s first on-chain generative art
• Partnered with UTA in 2021 for media rights

Nouns

• Launched August 2021, 32x32 pixel avatars
• One NFT auctioned every 24 hours
• CC0 open-source project with 234 head×137 accessories×30 bodies combinations
• 10 founders including the creator of CrypToadz gremplin

Celebrity Endorsements & Brand Collaborations: Merging Reality & Virtual

Phanta Bear

• Launched January 2022, 10,000 unique phantom bears
• Released jointly by Jay Chou’s PHANTACi and Liu Genghong’s Ezek platform
• Supported by JJ Lin, Edison Chen, and other stars

Moonbirds

• Created by Proof, pixelated owl project, launched April 2022
• Owners gain access to Proof Collective private club
• Switched to CC0 in August 2022, forming MoonbirdsDAO

Adam Bomb Squad

• Launched August 2021 by The Hundreds fashion brand
• 25,000 bomb-themed digital collectibles
• Member card features, includes product drops and offline events

VeeFriends

• Created by investor Gary Vaynerchuk, launched May 2021
• 10,255 hand-drawn NFTs, owners join VeeFriends community
• Raised $13 million in seed round led by a16z in July 2022

NFTiff

• Tiffany’s CryptoPunks derivative, released August 2022
• Only 250, limited to CryptoPunks holders, max 3 per person
• Premium jewelry pendants with at least 30 gemstones/diamonds

MNLTH

• Collaboration between RTFKT and Nike, released February 2022
• 20,000 mystery boxes as NFTs, airdropped to CloneX and PodX holders
• Nike’s first official NFT product

Flyfish Club

• Private dining club by VCR Group under Gary Vaynerchuk
• Membership sold as NFTs
• Planned opening early 2023, supports NFT leasing and resale

Other Notable Projects Snapshot

CrypToadz—A model of CC0 + eco-friendliness, donated hundreds of ETH to Rainforest Foundation

World of Women—First female-oriented NFT series, 7.5% of sales go to women’s charities

Pudgy Penguins—Penguin-themed avatars, acquired for 750 ETH in April 2022

Invisible Friends—Invisibly animated characters, owned by NBA star Kyrie Irving

Goblintown—“No-Name” project, CC0 mode sparks derivative craze

Mfers—Minimalist stick-figure style, CC0, community-driven

Meebits—3D voxel characters, 20,000 NFTs, acquired by Yuga Labs

Merge—Experimental art piece, combines MASS tokens to generate NFTs

Murakami.Flowers—Created by Takashi Murakami, 11,664 floral combinations

Investor Essentials: How to Identify the Best NFT Investment Projects

In bear markets, finding the best NFT investment projects requires attention to these dimensions:

Community Vitality—Are holders actively participating? Is the project continuously iterating?

Commercial Value—Brand collaborations, IP licensing, real-world application potential

Innovation Mechanisms—Existence of technological or gameplay innovations

Ecosystem Position—Clear strategic position within the NFT ecosystem

Risk Management—Founding team background, financial security, smart contract audits

Today, from PFPs to gaming, from art to the metaverse, NFTs have formed a complete industry ecosystem. Whether investors, creators, or enthusiasts, everyone can find opportunities in this space. The key is to stay rational during bear markets and choose projects with real utility and community support—these are assets worth holding long-term.