In 30 seconds:
- We’ve got 17 best examples of NFTs that brands need to know about.
- There are now 7 main types of NFT. We’ve got them all laid out for you so you know what to expect.
- Gen Z spend 10.6 hours engaging with online content every day. NFTs are now becoming a regular part of their life. So how can you make an impact on them?
The world of NFTs is expanding. If you haven’t heard of them yet, you may have been hiding under a digital rock. But these aren’t just artwork now. There are tons of NFT examples on the blockchain and the list is getting longer. They are fuelling a new online age and it’s crucial that brands understand them.
Companies are finding ways to utilise blockchain technology to adjust to the changing landscape of the internet. Last year the NFT Market was valued at USD 15.70 Billion in 2021, and it is expected to reach USD 122.43 Billion by 2028. There is massive growth here and along with cryptocurrencies, NFTs are raising the internet to a new level.
So to clue yourself up on how this space is evolving, we’ve got 17 great NFT examples to take you through. But before that, it’s important to understand how our online world is changing.
What is an NFT?
NFT stands for non-fungible token. Let’s split that up, shall we?
Fungible means “replaceable by another identical item, mutually interchangeable”. So for example, a pound coin is fungible. It can be exchanged for another identical pound coin. Non-fungible means that the object is unique. It is not exchangeable for an identical item, because an identical item doesn’t exist. The “token” part of NFT is just referring to the digital “item”.
NFTs are stored on the Ethereum blockchain. This is one of a few different blockchains available. A blockchain is a digital ledger shared across a network of computers that prevents hackers and is very difficult to reprogram or change.
NOTE: The NFT actually refers to the record on the blockchain that stores the information about that digital file, who created it, who linked it to the blockchain and then who bought it and who has owned it throughout its history. It’s now been popularised to refer to the visual asset as an NFT too.
Examples of popular NFTs
So, what are the most popular NFTs? When considering highly sought-after NFTs, you’re probably thinking of digital art. It’s within this category that NFTs really made headlines, with some digital art NFTs being auctioned off for millions of dollars. But examples of NFTs cover plenty of different types. If you’re asking “what are the 3 types of NFTs?” things are now much, much bigger.
So how many different types of NFT are there? According to ethereum.org there are 7 main types of NFTs. These are:
- Digital artwork
- Virtual fashion items
- In-game items
- Essays and articles
- Digital collectables
- Domain names
- Tickets and coupons
But what do each one of these look like? Let’s go through the x best examples of NFTs and why they matter.
The 17 best examples of NFTs
What does an NFT look like? What kinds can you get your hands on? Why are some more valuable than others? We’ve taken a leaf out of Ethereum’s book to take you through each type of NFT and the best examples of them. Ready for the digital dive? Let’s go.
When it comes to NFT art, there are millions on the web from all manner of digital artists. From GIFs to highly detailed digital art, NFT projects have as much variety as real-world art. Some NFT artworks have been auctioned off at astronomical prices. Here are a few notable examples:
1. Gucci Ghost
Artist Trevor Andrew combined the iconic Gucci logo with his graffiti art to create “GucciGhost”. In November 2020 he introduced his first NFT collection – called “Nifty Ghost Collection” – and they sold out in 12 seconds. He has gone on to sell many other NFTs since including “Shit is Gold” for a whopping $108,888.
2. Everydays: The First 5000 Days
This artwork by Mike Winkelman (also known as Beeple) is one of the most expensive NFTs ever sold. On March 11th 2021 it sold for $69 million at auction house Christie’s. It is a collage of Winkelmen’s work starting at the beginning of the project. It was the first purely digital artwork that Christie’s auctioned.
3. Nyan Cat
This friendly, cute video clip meme became an internet sensation back in 2011. It seems only apt that this would eventually become an NFT. The Nyan Cat NFT sold for $600,000 and has become a famous example of how viral internet content can be reclaimed by the owner.
4. Taco Bell
Brands have been jumping on board the NFT digital art boom. Taco Bell served up 25 tokens on the NFT marketplace, Rarible. They sold out in 30 minutes, solidifying their visibility in the NFT world. With Gen Z as one of their target demographics, it’s no wonder they’re taking the digital plunge.
Virtual fashion items
More and more fashion brands are looking to a metaverse-based future. An NFT means the item is uniquely yours, so creating fashion NFTs gives people the chance to own a one-of-a-kind item to express their individuality. Here are a couple of important examples of virtual fashion NFTs to note.
5. Nike + RTFKT Sneakers
In December last year, Nike acquired RTFKT, calling it “a leading brand that leverages cutting edge innovation to deliver next-generation collectables that merge culture and gaming.” This virtual shoe company sold 600 pairs/NFTs in just 7 minutes in February 2021. Now Nike has released a collection of co-branded “Cryptokicks” NFTs, which are built for avatars in virtual worlds. 60% of Gen Z shoppers think that brands should sell their products on metaverse platforms, and Nike and RTFKT have done just that.
6. Overpriced Hoodie
Brands are joining the hype and finding more ways to create NFTs that can be used within video games. Eventually, developers want to make it so that people can own NFTs and use them in-game via an external blockchain, instead of just using digital items like skins. This would mean NFTs become more like general belongings that you can take with you to any virtual environment.
7. Coca Cola and Decentraland
Global beverage giant Coca Cola created a set of exclusive NFTs for Decentraland (known as “the virtual destination for digital assets”). Decentraland is a virtual gaming experience based around NFTs. Coca Cola’s new collection of NFTs garnered a winning bid of $575,883.61 in an online auction. This was a “loot box” that, amongst other things, included a custom Coca-Cola bubble jacket.
8. The Smurfs and The Sandbox
The Sandbox is another 3D virtual gaming experience where people can build and buy NFTs. The Smurfs are a household name, so it only makes sense that IMPS and LAFIG (the licensing companies) took the opportunity to plant them in a virtual environment. This was in 2020, around the same time as the announcement of their new animated series with Nickelodeon. They knew how to reach young people in the right way and thought about their marketing strategies outside the box.
Essays and Articles
Just as visual goods are now being sold as NFTs, written works are too. Publishers have the opportunity to sell their writing as a completely unique asset to the general public. This is a relatively new way of selling NFTs but is picking up pace in a growing digital world.
9. Quartz News Article
The first news article ever sold as an NFT was published by Quartz and went for 1 Etherium ($1800) earlier this year. The proceeds will be contributed to the Lauren Brown Fellowship at the International Women’s Media Foundation. This paves the way for what certain brands can do with NFTs, even if your products aren’t highly visual.
Digital collectibles are arguably the first kind of NFTs ever released. Think back to a time of physical trading cards (Pokemon cards, for example): the rarer the card, the more valuable it was. NFT collectables are similar except they truly are unique. This is why NFT collectables have become so popular and brands are listening up.
These are some of the most famous collectable NFTs. Cryptokitties is a game where you can breed and create your own NFTs in the form of the digital artwork of a cat. These NFTs can sell for a lot. The most expensive one ever sold was called “dragon” and fetched 600 $ETH (that’s currently worth £840,425).
Cryptopunks are another example of famous NFT collectables. They are one of the earliest examples of a non-fungible token and feature over 10,000 unique NFT artworks. In February 2022, CryptoPunk #5822 was sold for roughly $24 million in Ethereum, dwarfing some of the other most expensive NFT collectables.
12. Gucci and Superplastic
Superplastic describes itself as a “global entertainment and product brand that partners with the world’s most recognizable artists, brands, & celebrity frens to bring ridiculously dope NFTs, products, and virtual & IRL experiences”. They have most recently collaborated with Gucci to bring “SUPERGUCCI”, an exclusive set of NFTs that includes House codes found in the Gucci Aria collection and a real ceramic 8-inch tall SUPERGUCCI sculpture of one of their characters.
Holding a domain has just become more exclusive. So what is a domain name NFT? Unstoppabledomains.com explains: “NFT domains are domains that live on a public blockchain and give users complete ownership of their stored data. The main benefits… are simplifying crypto transactions … and easily creating and hosting websites on web3”
Hong Kong-based crypto advisor Jehan Chu bought the domain name .nft for $84,000 on the Handshake Blockchain. Most website domains are overseen by central authorities, for example, all .com addresses are registered through the company Verisign. Buying an NFT like this one allows people to own the rights of this domain completely.
Tickets and Coupons
Now that NFTs are becoming more popular, people are finding ways of offering digitally unique experiences through non-fungible ticket tokens or coupons.
14. The Bored Ape Yacht Club
The Bored Ape Yacht Club has been making a name for itself in the crypto world, and for good reason. They have created an online exclusive club that you can only access if you buy one of their tokens. Once you have a “bored ape” token, you can be part of the Yacht club.
15. Friends with benefits
Friends with benefits is perhaps the most famous social club with membership through NFTs. It describes itself as “a group of Web 3-focused thinkers, builders, creators, and friends” and has more than 3000 members.
16. TravelX and Air Europa
TravelX and Air Europa are dropping an exclusive collection of NFT tickets for flights to Miami Art Week. This is a perfect example of how NFT tickets can be bought for real-life experiences. With the web developing so fast, this may become more and more popular and brands should look at ways to utilise it.
17. Flyfish Club
The hospitality industry is also hopping onto the NFT train. The Flyfish Club has been announced as an upcoming restaurant in New York City that will only be open to holders of certain NFTs. It’s set to open in 2023 and shows just how easy it is to blend the digital world and reality together.
The future of your brand and NFTs
It’s a changing world out there and Gen Z is adapting with it. 56% of Gen Z adults say they are including cryptocurrency or NFTs as part of their retirement strategy. They are looking for brands to lead the way with forward-thinking strategies and cutting edge ideas.
Creating an NFT is relatively simple. You pick your item, choose your blockchain, set up a digital wallet, pick a marketplace and upload your file. (If you need some more info on this take a look here.).
Once you’ve created your NFT, the tricky part comes in. How do you market your NFTs and speak out through the deafening hum of the digital world? Answer: a fool-proof strategy aimed at younger markets.
Social media and influencer marketing are becoming the number one way to shout out about NFTs. 70% of teens trust influencers more than traditional celebrities. That means pushing your NFT-based promos through influencer marketing will help build trust and skyrocket your ROI. We happen to be buffs in this field, so get in touch to find out how we can jumpstart your crypto or NFT marketing strategy.
Need a bit more info? Take a look at some of our other useful, advice-packed resources below.