From goblins to Nouns, penguins to Reddit Snoos, these NFT token projects have made waves in 2022 amid the speculative noise. Here are the most impressive NFT token projects of 2022.
The first NFT token project QQL
QQL is an Ethereum generative art NFT collection created by Tyler Hobbs and Dandelion Wist. Hobbs is best known as the creator of Art Blocks project Fidenza, which sold a large number of seven-figure (USD) sales in 2021. His next move was eagerly awaited. Of course, it sold $17 million worth of NFT mint passes at launch despite the ongoing crypto bear market.
As with Fidenza, the QQL drawing is generated using a fine-tuned algorithm deployed on the Blockchain. Thus, it reveals fascinating waves of colored circles, large and small. But there is a change: those who purchase the Mint pass shape the final piece of art they transform into an NFT. Anyone can play with the QQL algorithm and achieve potentially dazzling results. However, only mint pass holders can add an NFT to the official collection.
Second place is ‘Proof of Merge’
cryptocoin.comAs you follow, Ethereum Merge was one of the most anticipated crypto developments this year. As a side project, Andreessen Horowitz employees Mason Hall and Michael Blau created ‘Proof of Merge’ dynamic Ethereum NFTs to celebrate the event. Each NFT acts as a kind of ‘proof of participation’ proving that the user who created it joined Web3 before the Merge took place. Hall and Blau’s NFTs automatically exchanged metadata through the collection’s smart contract, which holds the code that powers autonomous decentralized applications (dapps). Thus, he improved the view of the NFT to match the state of the Merge process in real time.
Each NFT started out as a static image of a separate black and white circle. When Merge started, NFTs were updated to be partially merged circles. Once completed, the NFTs were updated back to their final phase: a Yin-Yang symbol that pays homage to an Ethereum panda bear meme, where the blockchain’s execution layer (black bear) and consensus layer (white bear) combine to form the cute mammal.
‘Nouns’ is also among the popular NFT token projects
Launched in 2021, the Nouns NFT token project and corresponding DAO continued to develop the principles of community governance and open source IP generation. Auctioning one pixelated Nouns profile picture (PFP) NFT per day, the collection has amassed a massive war vault with 29,150 ETH (approximately $37.8 million worth) in its treasury at the time of this writing.
Nouns owners voted on project proposals and spent the pooled funds on a variety of different initiatives, such as promoting Nouns at crypto conferences, supporting Web3 education in Brazil, and bringing Nouns to New York Fashion Week. Other efforts include charitable endeavors, physical collections and even a professional esports team.
Next project Shibuya
Artist Emily ‘pplpleasr’ Yang has a new vision for the future of cinema and is using NFTs to finance it. Shibuya aims to become the ‘A24 of Web3’ by selling NFTs as a kind of voting chips. It also provides a community that collectively decides how stories will evolve while funding future projects in the process. In December, Shibuya raised $6.9 million in startup funding under the joint leadership of a16z and the Variant Fund to further its mission. His first project is the anime series ‘White Rabbit’, about a teenager who discovers a mystical crypto world.
NFT token project dedicated to weirdness: Goblintown
Who likes to moan inconsistently and (hopefully pretend) to drink urine? That’s right: owns a Goblintown NFT. These Ethereum NFTs went viral in late May, when the crypto bear market started, shortly after the collapse of Terra Blockchain. When the ‘degens’ trading NFTs started to lose hope, they fell in love with NFTs who enjoyed stupidity, excrement and madness.
The Goblintown NFTs were a huge hit, and while the art was definitely outrageous, the launch was clever and deliberate. NFTs “There is no roadmap. There is no conflict. There is no benefit to the project” and since then about $96 million worth of secondary market trades have arisen from a free mint. The irreverent humor brought much-needed lightness to the struggling crypto community. It also sparked one of the wildest NFT trends of 2022.
Colorfulness is good: Reddit Collectible Avatars
After a summer launch, NFTs of what Reddit calls ‘collectible avatars’ have skyrocketed in popularity this fall. Some Polygon NFTs have become highly acclaimed and popular as users on the online forum platform have been sporting Snoos in a variety of colors and designs that Reddit has handed out to many for free. As of now, over 7 million Reddit NFTs have been printed on Polygon, with over 5.3 million unique holders in the mix. Honestly speaking, Reddit’s NFT launch is probably one of the biggest to date.
A Solana NFT token project: DeGods
While Ethereum NFTs still dominate the market in terms of overall volume traded, Solana NFTs are making waves and gaining traction thanks to bustling NFT collections like DeGods. DeGods was created by the recently revealed entrepreneur who calls himself ‘Frank’. NFT is a profile picture NFT collection on Solana that gives its owners a number of different benefits.
These moves and others have made DeGods the most valuable Solana NFT project this summer. It sided with the Ethereum heavyweights for value, and then they incorporated that hype into the even louder y00ts project this fall. A related technology company, Dust Labs, has also raised $7 million to help build an ecosystem around projects. DeGods and y00ts helped raise the Solana NFT field in 2022. But Frank has made a big change for 2023: DeGods will bridge to Ethereum, while y00ts will bridge to Polygon, no longer limiting them to their original ecosystem.
Finally penguins: Pudgy Penguins
Many NFT token collections struggle to keep up with steam and eventually fade into oblivion. Especially if a founder’s reputation is questioned. However, this was not the fate of Pudgy Penguins on Ethereum. It was released in July 2021 and lost relevance a few months later. But this year saw a major renaissance in popularity after the collection was bought by young entrepreneur Luca Netz for $2.5 million in April and the original founder left the project.
During Netz’s reign, he made plans for the collection, merchandise, a children’s book, and more. He also held an auction at Sotheby’s. Meanwhile, Penguins has established an advisory board made up of Web3 and individual professionals, with leaders from Nansen, Saks Fifth Avenue, Hasbro and Meta to help shape the project’s comeback story even further..
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