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What is a Blue Chip NFT?

What is a Blue Chip NFT?

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In brief:

  • Blue chip NFTs are projects whose value is expected to be stable and profitable in the long term.
  • Blue chip NFTs share several common features – relatively high floor price, brand power, celebrity endorsements, project team commitment and real utility.
  • Blue chip NFTs include Bored Ape Yacht Club, Mutant Ape Yacht Club, Crypto Punks and ENS: Ethereum Name Service.

Before we can explore what a blue chip NFT is, we should explore what NFTs are and how they are valued.

Non-exchangeable tokens, NFTs, are cryptographically unique identifiers linked to digital and physical content that prove ownership, authenticity, or group membership. In-game NFTs allow players to truly own the unique digital assets they purchase, such as pet monsters or starships, and are free to trade or sell these NFTs as they wish.

According to data from the NFT tracking website, the global NFT market sold more than $333 million in October 2022. CryptoSlam. Another popular NFT data tracking site, DappRadar follows Blue Chip NFTs and the broader NFT and decentralized application economy.

What is a blue chip NFT?

In traditional financing, a blue chip is a nationally recognized, established and financially sound company. According to Investopedia, blue-chip companies are known to withstand recessions and operate profitably in unfavorable economic conditions.

Blue-chip stocks are considered relatively safe investments with a proven track record of success and steady growth. While blue chips are reliably stable, they are unlikely to yield as high a return as potentially riskier investments. This also applies to blue chip NFTs that are regular to the average NFT.


CryptoPunks, considered one of the earliest NFT collections, was created by development studio Larva Labs. CryptoPunks are 10,000 images tokenized as NFTs on the Ethereum blockchain. Owning a CryptoPunks NFT means you are the sole owner of a unique pixel avatar. CryptoPunks are the OG Ethereum NFTs created in 2017 – long before anyone outside of crypto enthusiasts knew or cared about scarce digital collectibles. Believe it or not, CryptoPunks were released for free back in 2017. Ethereum’s ERC-721 non-repairable token standard wasn’t even a thing back then, and they were released as an experiment by a two-person team at Larva Labs. Ethereum wallet owners grabbed the 9,000 CryptoPunks released to the public, while Larva Labs held on to the rest.

NFT volumes gradually increased over the next three years, but in late 2020 and especially early 2021, demand for these proven scarce digital collectibles skyrocketed. The aftermarket value of CryptoPunks shot through the roof, leading to multi-million dollar NFT sales, auctions at Christie’s and Sotheby’s, and plenty of CryptoPunks being used as Twitter profile pictures.

But while CryptoPunks was one of the first NFT collections, none is bigger than Bored Ape Yacht Club

Did you know?

The most expensive CryptoPunk to date was sold for $11.8 million ETH in a June 2021 Sotheby’s auction to Shalom Meckenzie, DraftKings’ largest shareholder.

Bored Ape Yacht Club

Developed by Yuga Labs Bored Ape Yacht Club is a collection of 10,000 profile pictures minted as NFTs on the Ethereum blockchain. Bored Ape collectors own an image of a bored-looking ape with randomly generated traits and accessories. No two pictures are exactly alike.

Buying the Bored Ape Yacht Club NFT gives you access to a sort of nominal “club”, and membership offers benefits. By January 2022, Bored Ape NFTs generated over $750 million worth of trade, including subsequent variant series, per CryptoSlam data. Bored Apes became Twitter’s NFT avatar among athletes, musicians and more.

Did you know?

At the time of publication, the record sale for one Bored Ape NFT is 740 ETH, or just over $2.9 million in September 2021. It was purchased by the developer of the upcoming Ethereum game The Sandbox.


Launching in October 2021, Doodles is an NFT series featuring art by Burnt Toast. Doodles come in cheerful colors, features, and sizes, with a collection size of 10,000. Each Doodle allows the owner to vote on experiences and activations paid for by the Doodles Community Treasury.

In September, Doodles revealed that musician and producer Pharrell Williams had joined Doodles as brand manager and plans to serve as executive producer for the music album inspired by the project. In the same month, Doodles’ NFT sales increased by 1,200% and were valued at $704 million at the time.


launched in January, Azuki it became one of the hottest NFT projects released in 2022 in terms of total trading volume and has just reached another milestone. The Ethereum-based profile picture project debuted in January, and its first secondary sale surpassed $1 million by March 2022.

Azuki #9605 sold for 420.69 ETH or $1.42 million at the time, more than doubling the previous record sale of the Azuki #4666 project for 204 ETH on February 13, about $586,000 at the time.

An anime-inspired Ethereum collection became one of the NFT projects in 2022.

Twin Flames

Launched in February 2021, Twin Flames was designed as a tribute to artist Justin Aversano’s twin brother, who died in utero. Twin Flames is a collection that spans 100 photos, each featuring a different set of twins. Taken worldwide in 2017-2018, the photos showcase a wide variety of subjects in their chosen location and in their chosen clothes, and all share the common characteristic of being twins.

Minted in February as Ethereum-based NFTs, Twin Flames are coveted by collectors. Twin Flames NFTs are owned by Snoop Dogg and Gary Vaynerchuk, and the portrait collection has generated nearly $13 million worth of trading volume through October 2021 per OpenSea. That year, one NFT in the collection was sold for 506 ETH, or nearly $1.9 million.


Created by Dapper Labs, CryptoKitties are non-repairable tokens originally built on the Ethereum blockchain using the ERC721 token standard. Before ERC721 existed, tokens on blockchains were exchangeable or interchangeable; any Bitcoin or Ethereum token is identical to any other. ERC721 allowed the creation of unique, non-corruptible tokens.

Each CryptoKitty is unique, with its digital genome stored in a smart contract. The immutable genotype stored in the smart contract determines its visual appearance or phenotype. Any two CryptoKitties can be bred using a genetic algorithm, and the offspring will be produced with its unique characteristics (or “cat-attributes”).

The popularity of CryptoKitties quickly became a problem for the Ethereum network, which could only handle so many transactions at once, causing queuing. Growing CryptoKitties became so popular that it prevented other companies working on the platform from being able to confirm their transactions quickly.

In May 2020, CryptoKitties announced that they would be moving to the dedicated Flow blockchain.

Did you know?

The most expensive CryptoKitty, Genesis, was at $114,481.59 at one point. That’s more than the most expensive “real” cat, which cost just $41,435.

Like stocks, NFTs with Blue Chip status come and go. The value of the once unstoppable Bored Ape Yacht Club plummeted when the crypto bear market began earlier this year. Popular singer in January Justin Bieber bought a monkey for $1.3 million; in November 2022 this JPEG will be worth $69,000.

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