[ad_1]
Although they’re not at the height of their popularity at the moment, NFTs are still popular and have an active community. Recently, the industry has transitioned from exclusive, expensive collections to affordable and innovative ones. This is a good change — after all, it leads to more decentralization.
If you are looking for some cheap NFT projects to buy this year, you’ve come to the right place. We’ll take a look at some of the most promising NFT collections that won’t cause you to break the bank as well as look at the possible reasons why you should consider investing in them. Let’s go!
Please remember that this article does not constitute investment advice.
Here are the most promising cheap NFTs you should check out in 2024. There are a lot more interesting collections and projects out there, of course, but these are the ones that caught our attention.
Genzee is an NFT collection that is similar to the likes of the Bored Ape NFT collection — however, instead of monkeys (well, apes) it uses humans as a template. Each NFT is a depiction of a human drawn in a cartoon style with different outfits and accessories.
This cheap NFT set has some good potential: Gen Z likes fashion and ways to show off their individuality. They enjoy expressing themselves, so this crypto art collection has a chance to blow up in the future.
At the time of writing, the cheapest Genzee NFT on OpenSea was 0,032 ETH ($52,21).
Encryptas is a relatively unique NFT project: and to find out why, you only need to take a look at one of their tokens. It doesn’t use the same style most recent NFTs do, instead opting for something more minimalistic and artistic.
Every Encryptas token is an outline of a woman with broad shoulders — the only things that change are the colors, hairstyles, clothes, and accessories. They look simple yet stylish at the same time.
At the time of writing, the cheapest Encryptas NFT on OpenSea was 0,0165 ETH ($26,92).
PixelBeasts are a cheap yet interesting NFT collection that was created by an NFT artist called Yohei Nakajima. The tokens are stylized in an 80s-esque pixelated retro style and are pictures of cute animals.
At the time of writing, the cheapest PixelBeasts token was 0,0053 ETH ($8,66).
AutoRAD is a rather unusual NFT project. Instead of trying to use stylish or cute characters to attract attention, this collection has instead chosen to go for geometrical shapes. Yes, that’s right: autoRAD NFTs look like something you might see in a math textbook or a synth-wave album cover.
According to the project’s description, it aims to resemble the fun spirit of movement in tight compositions — and it certainly achieves this, as the art for these tokens does look very dynamic.
At the time of writing, the cheapest NFT from this collection was 0,0918 ETH ($149,70) — a little expensive, but comparatively still quite cheap.
Impermanent Digital is… an interesting NFT collection. It looks as if the AI that generated it was on acid. This NFT project is made up of colorful bright pictures that have random features and overall don’t really look like anything in particular.
However, there is a reason for that: as its title suggests, the collection represents impermanence, with every token being altered in one way or another by every token holder.
The cheapest NFT in this collection was 0,028 ETH ($45,74) at the time of writing.
This NFT collection is made up of — you guessed it — pictures of whales. They vary in color, accessories, clothes, and facial expressions. Like most other collections of this kind (the Bored Ape Yacht Club and others), Secret Society of Whales is aimed at people who want to express themselves and belong to an exclusive community.
In order to foster such a community, this NFT project offers special membership perks and bonuses, such as community-only raffles or staking — so this project’s NFT holders can earn some passive income while holding the token.
At the time of writing, the lowest price of a Secret Society of Whales NFT on OpenSea was 0,0183 ETH ($29,91).
Last but not least, Axie Infinity is another great NFT project that can be bought at quite a low price. It is a mobile game that lets you make money while collecting unique digital tokens.
In the game, you buy virtual pets called Axies that can then be used to fight with other users or AI. With every battle, you can get special cryptocurrencies called Axie Infinity Sharts (AXS) or Smooth Love Potions (SLP) as well as various in-game items.
All the items and pets on the Axie Infinity platform are NFTs and can be sold on the Axie Marketplace. Since it is an active and quite popular game, these tokens have a relatively high trading volume. All transactions on the platform are done in ETH and take place on the Ethereum blockchain.
At the time of writing, the cheapest NFT on the platform was only $2.
Of course, our list isn’t exhaustive at all. There are hundreds of new cheap and even free NFTs appearing every week — so how do you keep track of them all? After all, when it comes to projects like this, one of the most important things is to invest in them before they enter the mainstream.
Simply finding an interesting cheap NFT project is not enough — you also need to evaluate if it’s worth your money. There are two main questions you need to ask yourself before you become an NFT collector and owner:
- Do you like this particular NFT for what it is?
- Do you think this NFT collection has a chance to rise in value in the future?
If the answer to either question is “Yes”, then it should be worth getting, especially if it’s a particularly cheap NFT art piece!
Finding Cheap NFTs To Buy
The first, and hardest part, is actually finding the cheapest NFT projects that have some potential. Typically, this is done through word of mouth: people talk about the collections they are following on social media platforms and various forums. After all, unless you really like the art style, there is little point in going after a project whose user base is in the single digits. Another way to scout out the cheapest NFTs is by following news websites — or blogs! 🙂
Once you have a tentative list of projects you are interested in — either because of their popularity, price, or the project itself — it’s time to weed out the ones you won’t need.
First off, see if the project is a scam or not. Although you can never be 100% sure, checking out the NFT collection’s website and who is the team behind it can help. Look up the key figures from their team, and see if there are any alarming reviews online about the project. The crypto community is often very quick to point out companies associated with known scammers.
Next, see how the NFT project handles its social media. If there is little to no buzz but the content is solid, it could sometimes be a good sign — they might be able to reach out to a wider audience soon.
Another thing you should consider is the availability of the tokens and what chain the project is based on, as well as what NFT marketplaces it has been listed on. Sometimes, hard-to-access projects can be worth your time if you see that they have the potential to blow up.
Once you’ve narrowed down your list of potential projects to get, it’s time to start shopping!
First of all, since these are cheap NFTs, it could be a good idea to “diversify your portfolio” and go for tokens from a wide range of different collections. This way, you can minimize your risks and maximize potential profits. Additionally, we would not recommend investing exclusively in NFTs and no other assets.
There are many different places to get cheap NFT projects. Here are the most popular ones.
NFT LaunchPad
NFT Launchpad isn’t the name of just one particular service where you can get new NFTs: rather, it is a special subsection on existing platforms that is meant for displaying and selling each new NFT project on the market.
NFT Launchpads exist on most major NFT marketplaces and are one of the, if not the best, places to both discover and buy promising cheap NFTs.
NFT Marketplaces
There are many different NFT marketplaces out there — and they are undoubtedly the most convenient way to buy NFTs, cheap or not. They organize all trades in a safe and trustless way, allowing users to get their favorite non fungible tokens in a quick and easy manner.
P2E Games
Play-to-earn games are one of the major producers of cheap NFTs. Most of them have their own in-built marketplaces that can be used to buy and sell in-game unique digital assets.
In addition to buying cheap NFTs on marketplaces, P2E games also let users earn tokens in return for completing various tasks — if you have the time and like simple, grindy games, this could be a good option for getting some digital art or collectibles to keep or sell later.
Rarible
Rarible is a popular NFT marketplace. Unlike many other platforms, it is decentralized, giving future and current token holders access to greater security and privacy. Rarible also lets anyone not only buy and sell NFTs, but also create and list their own unique tokens. It is one of the best platforms for finding the best and the cheapest NFT projects.
The OpenSea NFT Marketplace
OpenSea is the biggest and most well-known marketplace for NFTs. On this platform, you can always be sure that you will find what you are looking for.
OpenSea not only offers a great selection of the most expensive and the cheapest NFT collections on the market alike, but also makes your purchasing experience better with an intuitive interface, various stats for all projects, and a high level of security. It is widely considered to be the best NFT marketplace.
Knowing how to sell NFTs is sometimes as important as being able to buy them. After all, while the tokens do hold artistic and sentimental value, most NFT holders want to make a profit off of their purchases.
NFT sales are typically available on pretty much any marketplace that you can also buy them from — including the aforementioned Rarible and OpenSea.
First, you will need to get a crypto wallet that supports NFT projects. The MetaMask wallet is a great choice, but you can also go for any app that you already use. Coinbase wallet is also a popular option.
Up next, you will need to do the hardest task in this whole process: decide how to price your NFT.
In order to determine the best selling price for a non fungible token, you will need to study the market. How much are other similar tokens (from the same collection, that have the same style, etc.) actually selling for? Don’t look at listing prices, they can often be misleading. Check out recent sales, and keep an eye out for people who keep sending the same token back and forth between a few different wallets.
Once you decide on a price, you can go on and create a listing for your NFT. The process varies platform by platform, but most marketplaces make it incredibly easy and straightforward.
Keep in mind that when we’re in a bear market, it is likely that your NFTs might not sell quickly, or at all. When it comes to many NFT projects, especially the lesser-known ones, it can sometimes take months or maybe even years for you to be able to sell them at a premium. If you lose faith in a project and think it will never rise in value again, don’t hesitate to sell it even if it’s at a small loss.
Well… it depends! Do you like risk? What about NFTs as an asset class, or the art they represent? If your answer to these questions is “no”, then it might not be worth investing in cheap NFT projects.
Cheap NFTs have tons of potential to grow, but also an equally high potential to plateau or even implode. You have to be ready for this and also be prepared for having to keep a very close eye on the market, constantly monitoring prices to catch the best moment to sell your non-fungible tokens.
If you are aware of all the risks and aren’t afraid of them, here are some of the benefits you will be able to get by investing in cheap NFT collections.
No matter if it’s a new or established cheap NFT collection, it naturally has greater upside potential than a project that is already at its peak. Thus, it can promise you more profits.
In a way, most assets in the crypto space are incredibly risky. Unless it is a well-established project like Bitcoin or Ethereum, it can be hard to rely on cryptocurrencies to stabilize your portfolio.
Cheap NFTs are also incredibly risky — but, well, they don’t cost much. You can get a few of them for under $100 and hold them in your wallet in hopes that they rise in value in the future. In the meantime, you can also use them to express yourself online or potentially to even get some advantages on specific platforms or P2E games.
Depends on your goals. If you want to make a profit, then no — you can buy some cheap NFT collections that you think might hit big and wait for one (or a few) of them to rise in value. Keep in mind, however, that your premium is unlikely to cross over into the 100s/1000s percent territory.
If you want to buy one of the more popular NFT collections, or “be one of the cool guys”, then you are probably late, yes.
There are a lot of various cheap NFTs out there — and what’s more, some of them are even free to get! P2E games often reward players in NFTs that they then can exchange on secondary markets or an in-built NFT market.
Yes, free NFTs do exist. However, they are only free in a traditional sense — in order to get them, you will have to grind various tasks in an NFT game or another similar platform.
The NFT space has been around for a while — since 2014 — but has only broken into the mainstream in 2021. It snowballed as celebrities started advertising projects like the Bored Ape Yacht Club and important Internet memes or other assets — like the Nyan Cat — were sold as tokens.
The craze also started at a time when people were pumped about making more money following crypto bull markets and the GameStop story — which meant even non-crypto users became interested in buying and selling NFTs.
Some of the best cheap NFT projects are Axie Infinity, autoRAD, and the Secret Society of Whales.
The actually cheapest NFTs are worth around a few cents — you can get them in hopes that they rise in value in the future, but, well… There’s usually a reason why they are that cheap. However, since they are so cheap, getting them won’t be a huge loss anyway.
An NFT marketplace like OpenSea or Binance NFT is the best place to get the best cheap NFTs. Not only are platforms like that easy to use and secure, but they also usually give you a lot of different stats on each collection.
There are many different places with both more expensive and cheaper NFTs. Typically, you can get them either at a secondary market, on a launchpad, or directly on a marketplace that belongs to the project you want to buy into.
An NFT, or a non fungible token, is a unique asset that was tokenized on a blockchain. As an NFT holder, you get the rights to a unique piece of art or another digital collectible that belongs to you and sometimes even gives extra benefits.
[ad_2]
Source link