Top 10 NFT Projects to Keep an Eye on in May 2022

Top 10 NFT Projects to Keep an Eye on in May 2022

The non-fungible token (NFT) sector has blown up as the second large trend over the past two years, right after decentralized finance (DeFi) exploded in mid-2020. NFTs, however, brought in an entirely new batch of users, companies, organizations, and others, thanks to their potential to serve as digital collectibles.

Where DeFi offered decentralized banking and allowed people to engage with it for the purpose of earning passive income with low risk, NFTs offered something a bit more fun. Their popularity was massive, and with the launch of the next trend, which was the metaverse, NFTs were strongly involved, which allowed them to remain popular and even gain a new portion of users attracted by the metaverse’s promise of digital worlds.

As a result, we now have a mix of metaverse and non-metaverse NFT projects, both of which still hold great potential for investment. Today, we have selected our top 10 favorites among non-fungible token projects, with hopes that one or more might offer just what you need, whether to diversify your portfolio, participate in a metaverse game, obtain some digital art, or otherwise. 1. Decentraland

The first on our list is Decentraland, which is also the project that gave us one of the oldest metaverses in the industry. In fact, Decentraland’s metaverse may very well be the oldest one, which definitely gives it a first-mover advantage. The project’s metaverse offers digital plots of land, each of which comes in the form of an NFT.

By buying an NFT, you become the owner of the plot of digital land that is tied to that non-fungible token. Once it is yours, you can do whatever you want with it, including developing games, building software, creating an art gallery for your NFTs, organizing digital meetings, running an entire business, setting up events, and more.

To learn more visit our Investing in Decentraland guide. 2. Axie Infinity

In the second spot, we have Axie Infinity. Another metaverse project, Axie Infinity is actually a gaming project, featuring a vast world that is home to creatures known as Axies. Each Axie is tied to a unique NFT, and so in order to start playing, players will first have to purchase some of them. Then, once in game, players can train them, upgrade them with 500 different body parts, or breed them to make new ones.

They can then either sell the new ones to new players and earn money that way, or use their existing Axies for battling other players and defeating them, in which case they receive rewards in the form of the project’s native AXS token. Since this is an actual cryptocurrency, it can be easily exchanged on various crypto exchanges out there, while NFTs can be traded on NFT marketplaces.

To learn more visit our Investing in Axie Infinity guide. 3. Silks

In the third spot, we have an NFT project that has attracted quite a lot of attention. Called Silks, this is a project with a metaverse of its own, where users can own, trade, and earn rewards from horse racing. Each in-game horse has its real-world counterpart, and so all events in the game are actually based on real-world events.

The project allows users to benefit from the metaverse when the real-world horse performs well in races. More than that, Silks has managed to connect real-world gambling with earning in a decentralized way from the blockchain, which alone makes it very interesting and attractive to users.

But, that is not all that it offers, as it also allows users to buy plots of land, construct their own stables to house their digital horses, and monetize them in order to earn. 4. Lucky Block NFTs

Lucky Block is an NFT project featuring the Platinum Rollers Club NFT collection. However, Lucky Block also emerged as one of the best altcoins available, thanks to its innovative crypto-lottery feature.

The project’s NFT collection minted 10,000 NFTs hosted on BSC, each of which depicts numbered 2D tickets. Their value comes from major benefits that NFT owners receive by holding them, such as automatic entry to daily prize draws, which are worth around $10,000 on average.

There are also 25 cards that are considered Rare Editions, and those allow owners to receive double the reward if their number is selected. Finally, it is also worth noting that each person who buys Lucky Block NFTs is entered into a one-off prize draw, and can potentially win a new $300,000 Lamborghini Aventador. 5. Telos

In the fifth spot, we have Telos, which is a project built for two […]

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