Non-Fungible Tokens (NFTs) proved that revolutionary ideas are always welcome by the crypto world. However, extremely successful projects within the sphere, such as the Bored Ape Yacht Club (BAYC), became hits for good reasons, and not just coincidentally. Read on to see the most recent results about what makes an NFT project stand out, as well as to meet some new, rising stars of the market.
Non-Fungible Tokens (NFTs) are special, one-off cryptocurrencies that are completely unique and tamper-proof. They cannot be replaced, nor can there be any duplicates. This means that NFTs are completely bespoke. To make this happen, each piece is registered on its blockchain—mostly Ethereum—which ensures security, transferability, and provides publicly verifiable ownership at the same time. To summarize: if one buys an NFT, it means they have total ownership of the item and the related rights, which the buyer can prove at any time.
Case study: Bored Ape Yacht Club (BAYC)
What makes an NFT successful? The Bored Ape Yacht Club (BAYC) would be a great place to start searching for answers, as they are widely considered to be one of the most influential collections of the industry.
The first step is to analyze the project’s offerings: what do owners of BAYC receive for their investments? Contrary to most of the other, first-generation NFT projects, that provide little to no utility for holders, having a Bored Ape Yacht Club NFT comes with various benefits, albeit, not the most within the sphere. These include limited digital, and real world benefits, the most notable of which is the sense of belonging to the exclusive group of holders. This is, essentially, what made BAYC a worldwide hit.
The new rising star: Last Hopium
There are countless new initiatives out there who intend to capitalize on NFTs’ momentum, but it’s becoming increasingly rare that a project actually understands the proven motives behind success, as discussed with the Bored Ape Yacht Club.
There is, however, a project that managed to recognize the critical aspects essential for success, and has consequently already left the crowd behind. The new rising star, Last Hopium, is the pioneer collection of next generation NFTs.
The project’s offering is revolutionary, yet simple: 10,000, high-quality NFTs with real-life, and virtual utilities that are actually beneficial. At its core, this is what truly sets Last Hopium apart, an unprecedented combination of all the traits of highly successful NFT collections: scarcity, unmatched use cases, and intrinsic value.
The NFTs are called MetaGods, and they are among the most highly anticipated pieces of their time. The real-world utilities mentioned above include belonging to one of the world’s most elite NFT holders’ network, limited access to one-of-a-kind deals on globally renowned hotels; such as Ritz Carlton, Waldorf Astoria, Hilton Hotels, and special entrance rights to multiple private venues, and opulent events. On the virtual side of things, MetaGods are said to offer various opportunities within the crypto world, including trading, collecting, and many other forms that are yet to be announced.
Owning a MetaGod NFT will allow for people to enter an exclusive society, where individuals can rub shoulders with people from all around the world with established names, and high status, which is similar to the holders and communities behind the success of BAYC, and crypto punks.
Becoming one of their early investors is still possible, just be sure to follow Last Hopium’s MetaGods on their official website, where all related updates will be posted in a timely manner .
NFTs are still enjoying incredible popularity nowadays, which naturally results in a highly competitive space. However, projects that recognize the key to success, like the Bored Ape Yacht Club, manage to excel and stand out from the crowd. Last Hopium not only discovered the proven path to success, but also added its own, unparalleled features, which, when combined, unsurprisingly made many industry experts title its MetaGods collection the new rising star of the NFT world.
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Post source: NFTs: Utility with a Hint of Collectibility