NFT is a crowded market.
Most digital creators have said that "if people are willing to spend a fortune on random scribbles then I am gonna also launch an NFT collection."
They have been doing exactly that. Projects have started adding metaverse tags and P2E tags as speculation has cooled. These NFTs do not perform well in secondary markets, despite their impressive performance as initial offerings. The delivery does not live up to the grandiose promises. Soon, communities will see the project as it really is and be able to get rid of their NFTs. This trend was accelerated by the recent crypto-NFT market crash. It revealed the fragility in once-hyped communities and projects.
Nevertheless, NFT projects have managed to survive the crash. NFTs such as Silks saw a rise in value during the collapse of the general market. These projects share a common trait: a strong vision, an ambitious roadmap and real utility. They also have competent teams. These factors combine to make them resilient to crypto winters. They have restored faith in NFTs, web3 and their faith in God.
Three Best NFT Investment Projects
This article will take a look into the three best NFT projects that you should hold on to for the long-term.
Silks -- First derivative NFTs for horse racing enthusiasts
Cool Cats -- Your ticket to Cooltopia
VeeFriends -- Gary Vaynerchuk’s hot NFT collection
The Best Long-Term NFT Projects: A Deep Dive
Let's have a closer look at these NFT projects and talk about their durability.
1. Silks -- First derivative NFTs for horse racing enthusiasts
Silks is the top NFT project that brought thoroughbred horse racing into the metaverse. This community-owned gaming system integrates huge data sets that include thoroughbred bloodlines, training progress and racing results. It is mined to create the blockchain. This is the key to creating Silks Horses, NFTs that are based on real-world thoroughbreds.
Thoroughbred horse racing has become a major industry. Each year, around 20,000 foals in the US are registered as thoroughbred racehorses. They are then sold at yearling auctions for USD 60,000 each before they turn one. In preparation for the races, which host large numbers of spectators, they are extensively trained and fed. Silks is a combination of multi-billion-dollar horse racing and video games markets, with a compelling play-to-earn system. The whitepaper explains that the goal of Silks is to "introduce the excitement of thoroughbred race racing to a new generation of tech-driven enthusiasts."
Silks Horses are one of the most sought-after NFTs this year. Silks Avatars and Silks Land are three other NFTs. Each NFT plays a different role in the Silks economy. This opens up many streams of income that are similar to those of thoroughbred horse racing.
You can still take part in fractional ownership even if you cannot afford a Silks Horse. Silks encourages Horse syndication to lower the barrier to entry to its platform. This reduces the risk of owning NFT thoroughbreds. If you don't have the time or desire to care for a Silks Horse, you can stake it on the community farm to earn $STT tokens. You can also move it to a private farm or start your own farm.
Another interesting way to make money is by speculating on Land in The Silks metaverse. The Silks metaverse is divided up into tokenized parcels of virtual land. You can rent or build horse farms and stables here to make service fees. Your real-world Silks Horse NFT counterpart wins a race, or produces offspring. The metaverse offers other income options once the horse has retired. They can also participate in simulated races against retired horses. The algorithms that determine the winners will be based on historical productivity and bloodlines. As the project develops, there will be more opportunities for monetization.
Silks' long-term vision is what sets it apart. It also has a well-defined roadmap. The team is made up of gaming and crypto enthusiasts who work hard to bring their metaverse to reality. This passion has helped them build a strong community. Silks Avatar NFTs saw a significant increase in value, more than half a million times greater than the NFT market. The community is aware of the long-term benefits of the project and are willing to keep it, regardless of market sentiments.
OpenSea now offers Silks Genesis Avatars. Get ready for the Silks Horse Mint, which is scheduled for later in the year.