Long-term NFT projects built to withstand the current recession

The crypto industry is experiencing another winter and this numbing cold has also slowed down the NFT market. We have seen some of the massive NFT communities drop their collections. The dramatic collapse of the most high-profile projects is discouraging.

This once again raises the age-old question: is the NFT market a bubble?

If yes, then it has already burst. And the crash showed us that people cling to projects backed by a strong vision and roadmap, no matter how big the mass hysteria. For example, the Silks Genesis Avatar collection saw its average price increase by 50% during the recession.

The importance of NFTs goes beyond speculation. They have utility in games, the metaverse, and even the entertainment industries. The NFT industry is still in its early stages of adoption and there are many emerging projects that could capitalize on the real potential of NFTs, making it worth keeping for the long term.

Top 3 NFT Projects for Long Term Investment

The NFT market is too crowded right now. Therefore, we combed through some of the hottest collections to select the top three NFT projects that

in terms of usefulness, community strength, gameplay, and historical relevance.

Discover the stories that interest you

1. Silks – Best NFT for Long Term Investment

2. Guild of Guardians – RPG with engaging game mechanics

3. CryptoPunks – Top NFT Collectibles

The best long-term NFT projects in detail

Let’s take a closer look at these NFT projects and find out how they hold great promise and resilience in the turbulent NFT market.

1. Silks – Best NFT for Long Term Investment

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Horse racing is one of the oldest sports. Archaeological records show that this performance sport was also part of ancient Greece, Rome, Babylon, Syria and Egypt. The sport continues to give people an adrenaline rush even today as they watch well-bred horses gallop to the finish line. Horse racing is currently a multi-billion dollar market that shows no signs of slowing down.

Silks bring the thrill and excitement of horse racing to the metaverse with an invigorating game play. The rich metaverse mirrors the thoroughbred horse racing industry, integrating huge datasets representing thoroughbred bloodlines, training progress, and race results to the Ethereum blockchain. Each Silks Horse is linked to a thoroughbred racehorse in the real world. As a result, the spin-off NFT, the first of its kind, has become one of the best long-term collectibles to buy right now.

The relevance of NFT Silks is not limited to their collectible value, however. They also offer great earning opportunities. For starters, staking, racing, and breeding Silks Horses earns you rewards. Apart from Silks Horses, the game offers Silks Avatar, Land and Stable NFTs. As revealed in the Silks whitepaper, you can trade Silks Horses, speculate on Silks Land, syndicate Silks Horses, and turn Silks Land into Silks horse farms to monetize your gameplay. As the metaverse evolves, NFTs will unlock more use cases and revenue streams.

You will need Silks avatars to purchase Silks horses. They represent your unique identity in the Silks metaverse. The distinct colors and characteristics of each avatar show ownership of your in-game NFTs. The Silks Genesis Avatar Mint which went live on April 27, 2022 for 0.15 ETH marked the first phase of the game’s NFT offerings. public sale followed on April 28, 2022 for 0.2 ETH.

The crypto and NFT markets have taken a nosedive since then. Some of the best NFT collections have collapsed as they failed to prove their worth as a long-term investment. It makes no sense to keep a useless profile picture in your crypto wallet when the industry is drowning. Once-popular single-staking NFT games have also crashed with the value of crypto tokens.

Interestingly, Silks Avatars on OpenSea showed great resilience during the crypto winter. In fact, the average price of these NFTs has risen from 0.2 to over 0.313 at the time of writing, registering an increase of over 50%. The team attributes the success of the project to the community of “Diamond Hand” individuals who keep their Silks NFT. They understand the long-term value of the project. This is not another NFT project with overblown vision and flimsy game mechanics. He has a solid vision and roadmap that will unfold one of the best games in NFT history.

The fluff proves that NFTs with real utility are here to stay, despite the momentary ups and downs in the general market.

2. Guild of Guardians – RPG with engaging game mechanics

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Guild of Guardians is our next pick. It’s one of the most anticipated NFT games of this year, with a waiting list of over 220,000 players. The team-based mobile action RPG is set in a mystical realm of magic, dungeons, orcs and elves. Here you can build a team of heroes, fight monsters and loot dungeons to earn rewards and improve your game. Your loots, being tokenized, are solely under your ownership.

The main feature of Guild of Guardians is its game mechanics which lowers the barrier to entry. This gives it long-term growth potential. Most NFT games are inaccessible to young players with little initial capital. Speculation determines the price of fungible and non-fungible tokens, preventing real players from getting on board. Instead, investors with little knowledge or interest in the game hoard them, hampering the platform’s long-term growth. Guild of Guardians solves this problem with free entry. The game’s emphasis on skill and strategy rewards initial long-term investors.

Guild of Guardians was introduced in the market by StepicoGame. They were also behind popular games like Fishing Rival and BigFoot. To address the inefficiency of blockchain gaming, the Guild of Guardians game uses Immutable X, the first Layer 2 for NFTs on Ethereum. It reduces transaction times and expenses. GoG has also partnered with top brands like Ubisoft, Sandbox, and Yield Guild to expand the scope of the project. The game is mobile-native, with the intention of capturing young users. Upon release, it will be available on iOS and Android devices.

Being a multiplayer game, Guild of Guardians allows players to join teams and complete their mission. The blockchain ecosystem brings seamless, trustless global coordination to gaming. Thanks to the constant efforts of the team, the first sale of the founder of GoG NFT was sold for 4.6 million dollars. It is used to develop the game and grow the community. Guild of Guardians Heroes NFTs are currently for sale on the Immutable X marketplace. In the next steps, the project will roll out NFT collections of pets, guilds, and energy boosters.

3. Cryptopunks – Top NFT Collectibles

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CryptoPunks is just a collection of NFT profile pictures. How did he make our list? As stated above, NFTs are digital collectibles whose ownership is traceable. NFTs marked a key milestone in the crypto revolution. Although you can download a JPEG as many times as you want, you can never own it in its true meaning. NFTs have proven you can.

As a pioneering NFT collection, CryptoPunks holds a special place in NFT history. The project was launched in mid-2017 and quickly became the inspiration for the ERC-721 standard. To date, he has been featured in The New York Times, Christie’s London, Art|Basel Miami and The PBS NewsHour. With a collection of 10,000 algorithmically generated pixel art portraits of punky guys and girls, he sparked the digital art revolution.

CryptoPunks was launched by Larva Labs, a New York-based software company. You will be surprised to learn that all 10,000 punks were claimed for free when minted. Fast forward to 2021, the average selling price of a Punk was over 103.52 ETH, or $199,455.60. The most expensive CryptoPunk was sold in February 2022 for $23.7 million.

The value of CryptoPunks varies depending on their type and attribute. There are five types of punks – aliens, apes, zombies, men and women in order of rarity. They can have different combinations of attributes from 0 to 7. The rarer the type and attribute, the higher the demand. These unique avatars successfully tap into the human desire to remain unique. As a Punk NFT holder, you earn an imaginary ticket to a cool club of forward-thinking people who understand the importance of Web3 and NFTs. They will remain the main driver of the collection.

Larva Labs also launched popular NFT collections like Meebits and Autoglyphs, which raged in the NFT market. Recently, CryptoPunks was acquired by Yuga Labs, the company behind Bored Ape Yacht Club. The acquisition should bring more partnerships and adoptions which will further increase the value of the collection.

Conclusion

We’ve introduced you to some of the best NFT projects with long-term growth potential. They differ widely in their scope, usefulness and vision. Despite this, they proved their resilience during the crypto crash. Silks, in particular, is a project to look forward to. The innovative mixed reality structure and derived gamified economy have already earned the project a massive community. It allows the young, tech-savvy generation to monetize their passion for thoroughbred horse racing through multiple sources of income.

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Disclaimer – The above content is non-editorial, and Economic Times hereby disclaims all warranties, express or implied, in connection therewith, and does not warrant, warrant or necessarily endorse any contents. Crypto products and NFTs are unregulated and can be very risky. There may be no regulatory recourse for any loss arising from such transactions.

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