For the most people blue chip refers to something that is always excellent. It is the word that the NFT space has borrowed of equity investments.
Blue chip stocks are typically regarded as a stock with a solid financial foundation and reliable investment (e.g. McDonald’s).
Blue chip NFTs are generally accepted that they will hold value long into the future. These NFTs tend to be less volatile and often used as high-end investments. they are more likely to hold a steady floor price, even in the bear market.
Blue chip NFTs include CryptoPunks (one of the first NFT collections, which was launched in June 2017, by Larva Labs) and Bored Ape Yacht Club (a long-standing NFT line that has established an impressive brand and has proven that the owners — Yuga Labs – are trustworthy).
Price Of Blue Chip NFTs
Two NFT well-known collections within both the NFT space have created the consensus among the NFT community that they will stay at the top of the list. They also come with an astonishing floor price of 70 ETH or around US $200,000.
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Because these investments are well recognized and a lot of people want to buy these investments, they become less risky. They have been historically much more secure than general NFT marketplace, which can be extremely volatile.
Characteristics Of A Blue Chip NFT
Blue chips NFT Projects can be distinguished through a review of reputations. If the project is recognized for its stability and is able to weather an economic downturn then it is as a blue chip. Only those projects where the entire NFT market is in agreement that the artist or collection is of high-quality is considered to be blue chip.
Only when you understand the whole NFT market can the Blue Chip NFT project be recognized. New projects that growing in value not be classified as a blue chip because they have to establish a backbone to ensure they’re a secure asset.
The term “blue chip” is more of a term that is subjective however , the majority of people believe that blue chips need to maintain its value even in difficult times or bear markets.
Because blue-chip NFT projects require general agreement of the markets, they are frequently recognized by those who aren’t familiar with NFT market.
As an example, we’ve seen stars such as Odell Beckham Jr., Jay-Z, Steve Aoki, and Snoop Dogg show off their CryptoPunks. They are maybe not so well-versed in the NFT area, but they are aware of the general consensus that they are an extremely valuable digital asset.
It’s the same about the holders of BAYC BAYC – Steph Curry Jimmy Fallon, Justin Beiber along with Serena Williams are holders of this NFT line.
This kind of acceptance by the majority of the population, not just celebrities at the forefront of technology adoption will result in an NFT project being upgraded up to the status of a blue chip.
How To Buy A Blue Chip NFT
The purchase of a blue chip NFT requires three easy steps first, the user have to establish an crypto wallet. Additionally, buyers must have ETH in their wallets to make the purchase.
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Install Metamask
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Buy Ethereum
To purchase a blue chip NFT you will need to buy Ethereum. Metamask users have the option to purchase ETH via debit card or credit card directly in the wallet.
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Mint NFT On OpenSea
Once you have enough Ethereum in your wallet to purchase the blue chip NFT you can proceed to pay for the NFT.Most popular Bluechip NFTs are listed on Opensea.
