Bybit is the third most visited cryptocurrency exchange. They have spot/futures trading, wealth management products, Launchpad, NFT marketplace. They are also the lead partner of F1 Red Bull Racing. Bybit announced the launch of its brand-new specialized NFT portal GrabPic, where Bybit users can purchase state-of-the-art NFTs at attractive prices with no gas fee and trade for profit in the secondary market. This release is another amazing product innovation from Bybit in response to user demands.
What is Blue Chip NFTs?
Blue-chip NFTs refers to non-fungible tokens whose value has skyrocketed, with market watchers believing these digital assets can retain their high valuation for a long time to come. Factors that are used to determine whether an NFT has “blue chip” status include brand recognition, community engagement, use cases and utility, celebrity endorsements, and floor price and sales volume.
The profile of blue chip NFTs is similar to that of blue chip stocks, but there are some important differences between them. Since the NFT market isn’t that old, even blue chip NFTs haven’t been around long. Blue chip stocks, in comparison, have much longer track records of success. The NFT market is also much more volatile than the stock market.
In the crypto world, cryptocurrencies that would qualify as blue chips are Bitcoin (BTC) and Ethereum (ETH). Bitcoin is the most established cryptocurrency, and while its price may be volatile, it’s still managed to maintain an increasingly high value over the past dozen years. Ethereum has also grown tremendously in value, despite its network congestion woes. As the main platform for NFTs, it’s likely to remain popular for many more years.
What makes an NFT collection blue-chip?
Even though everything moves so quickly and the NFT sector isn’t old, some collections have demonstrated stronger stability. They are the most stable in an industry that is – as we all know – incredibly volatile. What makes a blue chip NFT is a reputable brand name, a positive status of the creator and team, the past success of the humans, the current price, its acceptance in the community, and willingness to adapt to stay culturally relevant.
- The blue-chip NFT collections have a long-term value proposition;
- The team behind the project has a solid and reputable presence in the industry;
- There’s a clear use case for the tokens that goes beyond speculation;
- And finally, they have a passionate community built around them.
Examples of Blue-Chip NFTs
Bored Ape Yacht Club is the new kid on the block — who managed to pick up some serious steam in a concise amount of time. Like CryptoPunks, this project features a collection of 10,000 NFTs, in this case, all cartoon apes with randomly generated expressions, fur, clothing, accessories, and other traits. The BAYC community uses these features to determine an ape’s rarity. The hype behind this NFT collection is helping it skyrocket in price. FOMO could lead to further price increases, especially if more celebrities invest.
Yuga Labs LLC is the company behind the Bored Ape Yacht Club. When BAYC was launched, the company had four core members working under pseudonyms: No Sass, Gargamel, Emperor Tomato Ketchup and Gordon Goner. The team now counts 11 members from diverse ethnicities and cultures, demonstrating how designers and entrepreneurs from distinct backgrounds can cooperate and serve as an inspiration to the world. The team is taking advantage of their abundant gaming experience and is currently working on a blockchain gaming project implementing NFTs.
Why Are Bored Ape NFTs So Popular?
The clearest reason for BAYC’s popularity is the current hype around the NFT space, which attracts millions of potential investors seeking profits. But there’s more to it, including the following factors:
- Celebrity Exposure
- Big brand collaborations
Since launching last October, Doodles has erupted in popularity to become one of the top non-fungible token collections on the market. Doodles features 10,000 pastel-colored, squiggly drawings living on the ethereum blockchain, with the cheapest one trading at just under $17,000, or about 15 ETH.
Considering the young age of the Doodles project, it’s incredible to see the growth and accomplishments achieved by this project and its three founders. Currently, the collection has amassed around 141,000 ETH in secondaries. While Doodles still has quite a ways to go before they’re seen as a true contender for the PFP NFT crown currently held by the Bored Ape Yacht Club — which has generated upwards of 629,000 ETH to date — the collection of vibrant characters has undoubtedly won the hearts of countless NFT enthusiasts.
Some Questions About Grab Future Blue Chip NFTs
What is Bybit NFT Marketplace?
The Bybit NFT Marketplace is your one-stop destination for listing and trading NFTs. The NFTs provided cover digital art, collectibles, GameFi, the metaverse, and more.
How can I buy an NFT?
You can use your existing Bybit Spot Account with ETH, BIT, XTZ or USDT to access the Bybit NFT Marketplace. If you’re new to Bybit, please create a Bybit account first. Please note that each NFT on Bybit will only be priced with one token. For example, if an NFT uses BIT (BitDAO) as its pricing unit, it can’t use other tokens — USDT or ETH — for trade.
How can I sell an NFT?
How can I sell an NFT? Please head to your profile page, click List Now on the NFT you want to sell, and then enter the NFT Listing page. Next, please follow the steps below to list your NFT:
- Choose the pricing token (USDT, BIT, XTZ or ETH).
- Enter the quantity.
- Select the delisting time.
- Click Submit. Please note that at this time you can only list NFTs purchased from the Bybit NFT Marketplace.
If you want to list NFTs you create, please contact us at [email protected]
Advantage of Grab Future Blue Chip NFTs?
- Early Access: Collect cutting-edge NFTs from creators worldwide
- Zero transaction fees: Buy your favorite NFTs without extra fees
- International Creators: Gain access to NFTs from creators worldwide
What are the differences between Bybit’s GrabPic and NFT launch programs on other platforms?
- GrabPic provides NFT projects with a variety of features, with which you can burn NFTs or enable holders to merge and upgrade their NFTs directly on Bybit.
- GrabPic only features low-priced NFTs with a unit price between 0.1 USDT and 10 USDT.
- All NFT items launched through Bybit will undergo audits to ensure the security of NFT trades and withdrawals to a trader’s on-chain wallet.
How to join Bybit’s GrabPic and NFT launch
Step1: Access the website: https://www.bybit.com/en-US/ then click on NFT
Step 2: At GrabPic, you will see the collection prepared to sell or sold out. You just need to watch the time for sale and buy an NFT/ Account.
You also come to the marketplace to see all collections where you can buy or sell your NFT. And one important this is Zero transaction fees: Buy your favorite NFTs without extra fees and need pay 10% ( 1% transaction fee + 9% Royalty Fee) when you sell success your NFT.
Or if you want to delist, its easy by 1 step as below and doesn’t have any fee.
With GrabPic, Bybit offers high-quality, exclusive NFT projects from crypto-native and traditional artists, GameFi projects, Metaverse projects, and many more. As a specialized portal on the Bybit NFT Marketplace, GrabPic enables artists and creatives curious about the NFT space to enter with minimal technological barriers and serves a niche audience by showcasing affordable and unique NFT art. GrabPic aims to democratize the NFT experience for those underserved by existing offerings on both the creator and the collector sides.
If you have any questions, comments, suggestions, or ideas about the project, please email [email protected].
DISCLAIMER: The Information on this website is provided as general market commentary, and does not constitute investment advice. We encourage you to do your own research before investing.