Non-fungible tokens (NFTs) have gained significant attention in recent years as a new form of digital assets that allows for the ownership and exchange of unique digital content. As the popularity of NFTs continues to grow, more and more investors are looking to capitalize on the potential of this emerging market. However, with the high prices of some NFT projects, investing in NFTs can seem inaccessible to some. We have compiled a list of the 7 best cheap NFT projects to consider investing in for 2023.
In this article, we will provide a detailed analysis of the top 7 affordable NFT projects, considering their quality, rarity, community support, creator reputation, and potential for growth. By the end of this article, you will have a better understanding of the NFT market and be equipped with the knowledge to make informed decisions when investing in affordable NFT projects.
Criteria for selecting cheap NFT projects
Determining the top cheap NFT projects involves evaluating several factors that can affect the value and potential growth of an NFT project. Here are some criteria that can help in the selection process:
- Quality of artwork and design: The quality of the artwork and design of an NFT can significantly impact its value and demand. Look for projects with unique, original, and aesthetically pleasing designs that stand out from other NFTs.
- Popularity and community support: Consider NFT projects that have gained popularity and have a dedicated community of supporters, such as active social media channels, active Discord or Telegram groups, and strong partnerships or collaborations with other NFT projects or brands.
- Rarity and scarcity: Rarity and scarcity can increase the value and demand of an NFT. Look for projects with limited editions, rare features, and low mint counts.
- Creator/team reputation: The reputation and track record of the NFT project creators and team can also influence the value and potential growth of the project. Consider projects with experienced and reputable teams with a history of successful NFT projects.
- Market demand and potential for growth: Look for NFT projects that are in high demand and have the potential for future growth. Consider projects that are expanding into new markets or have plans for future updates or releases that could increase the value of the NFT.
- Price range: Since the focus is on affordable NFT projects, the price range should also be considered. Look for NFT projects that are priced reasonably and within your budget.
By considering these criteria, you can evaluate the potential value and growth of an NFT project and select the top affordable NFT projects to invest in. However, it’s important to remember that investing in NFTs is still a speculative endeavor, and it’s important to conduct thorough research and due diligence before making any investment decisions.
Silks
Silks is a fantasy sports play-to-earn ecosystem that focuses on real-world horse racing. The NFTs inside the Silks metaverse mirror the real world of thoroughbred horse racing and bridge the gap between the real and crypto worlds. The project is based on actual events, so the virtual horse NFTs are 1:1 replicas of real-world horses. You earn rewards in the game if you own the Silks Horse that wins in its real-world races.
Silks quickly rose in popularity after launching its first drop of Silks Avatars, becoming a top #10 ranked best-selling Sports NFT on OpenSea. Top investment firms quickly bought the NFTs and prominent NFT communities–including Bored Ape Yacht Club holders–took notice. It was even ranked on the Gaming 50 Index by Nansen, which is often considered the most respected NFT index in the industry.
Users are required to own a Silk Avatar to take part in the ecosystem. Alongside providing an avatar in the Silks metaverse, the NFTs also allow owners to mint Silks Horses to take part in races and earn rewards in the Game of Silks. The collection was released in separate drops and is almost completely sold out. Of the 10,000 original NFTs in the collection, nearly 65% have been sold.
The fantastic feature of the Silks ecosystem is that it mirrors a thriving sport that does well in all market conditions–including recessions. For example, the thoroughbred horse racing industry generates over $11 billion annually and has already witnessed a record-breaking year in terms of sales prices and prize purses. Replicating a thriving industry ensures that the Silks ecosystem will be lucrative for participants.
RobotEra
RobotEra is a metaverse gaming ecosystem that allows players to leverage NFT protocols to access a virtual ecosystem and monetize it in a variety of ways. The platform uses TARO as its in-game currency and the ERC-20 token is currently available to buy during the first round of its presale. On RobotEra’s metaverse, TARO can buy Robot NFTs, with the NFTs representing a user’s in-game avatar within the Taro Planet–the metaverse world of RobotEra.
There will be 10,000 Robot NFTs, each offering unique characteristics, and on Taro players can also buy plots of virtual metaverse land–another NFT asset within the ecosystem. The RobotEra whitepaper states a player can expand their land to extract new resources and build their own communities. Players will rent land, trade NFTs in the marketplace and even compete in online quests to earn rewards, as well as host events and concerts–charging admission–or sell advertising space on billboards.
A top utility token, TARO also offers staking capabilities to provide passive income and access to the RobotEra decentralized autonomous organization. TARO is currently in round one of a three-stage presale and RobotEra has allocated 270 million tokens on presale–accounting for 15% of the total supply. Stage one is currently selling TARO at $0.02 per token, with the price to increase to $0.025 in stage two and to $0.032 by the final presale stage–an increase of 60%.
RobotEra is an exciting project that offers unique use cases and capabilities for its users. With its metaverse platform and strong potential for growth, it’s definitely one of the best cheap NFT projects to consider investing in 2023.
Battle Infinity
Battle Infinity (IBAT) is a revolutionary NFT-based Metaverse play-to-earn game that provides investors with the chance to get in early on what could well be the project of the year.
Split into six different platforms, each with its own unique features, Battle Infinity really has something for everyone. The project has already been KYC-verified by CoinSniper, giving investors the green light to get involved with the project.
The Battle Infinity ecosystem comprises six different platforms: The IBAT Premier League (fantasy sports league), the IBAT Battle Area (Metaverse world), IBAT Battle Games (gaming platform), IBAT Battle Stake (stake IBAT & other cryptos), IBAT Battle Swap (DeFi exchange), and even a beautifully designed NFT marketplace dubbed the IBAT Battle Market.
Powering the Battle Infinity universe is the BEP-20 IBAT token. Limited to a supply of 10 billion, the $IBAT tokens are used to reward players for their gameplay, as staking rewards, and to facilitate the purchase of virtual advertising space.
While Battle Infinity was only recently released, it’s already showing immense promise. The project is stuffed to the brim with utility and provides investors with a wide range of ways to earn. The presale is already sold out and happened within 24 days of launch, much sooner than anticipated.
Wen Sandwich
Wen Sandwich is an upcoming NFT artwork series created by Migwashere, the individual behind the legendary Bored Ape Yacht Club artwork. The premise behind the art is simple but unique. Investors in the Wen Sandwich collection can create their own sandwiches by choosing from over 150 ingredients.
The ingredients include proteins such as chicken or bacon, veggies such as lettuce and tomato, seasonings such as pepper and salt, and all kinds of sauces. Combinations are practically limitless, allowing collectors to come together with a love of food in mind and playfully create unique sandwich dishes.
The minting for Wen Sandwich started in January and the collection is highly community-driven. It builds on the best parts of Bored Ape Yacht Club and Migwashere’s previous collections, Sneaky Vampire Syndicate and HoF Goat Lodge. The mint price for Wen Sandwich was at 0.05 ETH, making it accessible for everyone to join the table.
Tamadoge
Tamadoge is an NFT game that offers players rewards in the Tamaverse. The project blends elements from play-to-earn gaming and NFTs and has plans to integrate the game into the Metaverse soon. Tamadoge is also available as an ERC-20 token because the developers want to offer a tax-free purchase of their coins to promote trading.
One thing that sets Tamadoge apart from other cryptocurrencies is that its supply will decrease. While other cryptocurrencies like Dogecoin have seen their supply increase exponentially, Tamadoge will burn 5% of all its tokens spent. A further 65% of the tokens spent will enter a prize pool to reward players, and the remaining 30% will go toward promoting and developing the platform.
To earn rewards, players can breed pets and raise them by buying NFTs to feed them. Players can also buy NFT toys and cosmetic items to promote the development of their pets. It’s the pet’s growth that will determine a player’s ranking on the leaderboard, with top players receiving the highest rewards from the prize pool. Throughout 10 years, the Tamadoge project will unlock 30% of its total supply for minting.
The project has been a big hit with investors, selling out its $19 million presale and seeing its TAMA token increase in value nearly 20x from presale prices following its listing on the OKX centralized exchange (CEX) and decentralized exchange (DEX). Demand for TAMA is likely to only increase from here, with new features such as an app, support for virtual reality headsets, and a Tamadoge play-to-earn arcade being released.
Real Estate Investment Club
Real Estate Investment Club is a collection of high-quality generative NFTs that grant you free access to an exclusive club of individuals and the REIC–MetaCity. The NFTs also provide access to the Digital Asset Property Group (DAPG).
The artworks are beautifully created by a prominent graphic designer who has previously worked with GTA and Red Dead Redemption. However, what really sets apart Real Estate Investment Club is the long-term vision and unique utilities of the NFTs.
The project will build a virtual city for REIC holders using the popular Unreal Engine 5, which will act as a Metaverse as a Service (MaaS). It will be characterized by interoperability, monetization of assets and services, and a wide range of attractive use cases. The goal is to ultimately turn REIC–MetaCity into a futuristic metaverse that reflects the traditional world.
MetaCity will be a hub for meetups, educational services, consultation services, investment opportunities, and global resources. It will host infrastructure and resources for industry elites and professionals to help them expand their activities to the metaverse. The NFTs hold great growth potential this year, given their metaverse compatibility and monetization opportunities.
Awesome Possums
Awesome Possums is an upcoming NFT project with big goals. With a focus on assisting mental health and recovery addiction, not only is it a collection of cheap NFTs to flip, but it also promotes a positive message. The collection of 12,000 NFTs was minted for just 0.08 ETH ($96.69).
Utility is one of the driving forces behind the success of an NFT project. Without utility, hype is the only factor bolstering price, and this is seldom sustainable. However, Awesome Possums is packed full of both present and future utility.
During the minting process, Awesome Possums gave out free ETH and NFTs, then early adopters will also be eligible for a series of giveaways. On top of supporting its holders, Awesome Possums will also begin a series of donations to a charity focused on either mental health or addiction recovery.
Slightly later down the line, Awesome Possums will host a series of large-scale giveaways with prizes ranging from luxury vacations to festival tickets. Holders of the collection will also be eligible for free therapy sessions and motivational speeches on the community Discord. 5 lucky low-income families/students will receive a $10,000 dollar scholarship.
The collections plan for the future is equally impressive. Awesome Possums is working on launching a charity, a platform that blends art and recovery, an animated series, and even a VR game titled–Awesome Possums: The Road.
Conclusion
The NFT market has seen exponential growth in recent years, and investing in affordable NFT projects can provide significant returns. Through our research and analysis, we have identified the top 7 best cheap NFT projects to consider investing in 2023.
These NFT projects stand out because of their quality, rarity, community support, creator reputation, and potential for growth. However, it’s important to remember that investing in NFTs is still a speculative endeavor, and investors should conduct their due diligence before investing.
As the NFT market continues to evolve, investing in affordable NFT projects could prove to be a lucrative opportunity. We hope our article has provided valuable insights and guidance for investors looking to capitalize on the potential of NFTs in 2023.
