Non-fungible Tokens, or NFTs, are among the most prominent assets in the blockchain scene today. The burgeoning NFT space is expected to grow by almost $150 billion between 2021 and 2026, with a robust compound annual growth of over 35%.
Although Ethereum still dominates the NFT mindset, other smart contract platforms are coming into their own. Since the beginning of 2022, high-profile play-to-earn projects like Cosmic Champs have favored high-performance blockchains like Algorand over Ethereum.
After the spectacular collapse of the Terra blockchain in May 2022, many of the blockchain’s high-profile NFT projects like Poppin Puffins are set to seek shelter in the stable environment that Algorand offers. In fact, the Algorand Foundation pledged to distribute 1 million ALGO tokens on a first-come, first-served basis to Terra developers willing to migrate their projects to the Algorand blockchain.
Being forkless, Algorand stands for reliability and decentralization in the truest sense of the word. Several of its core technological features and functionalities are a natural fit for building a healthy NFT ecosystem, including its speed, scalability, immediate finality, nominal transaction fees, its status as a carbon-negative protocol, and the ability to facilitate fractional ownership of tokenized assets.
As figures from crypto data aggregator, NFT Explorer suggest, NFTs remain a popular investment vehicle for Algorand enthusiasts throughout the year, with a rough average of 3.75 million ALGO flowing into NFT projects per month. For savvy investors looking to invest in the best that Algorand NFTs have to offer, we’ve compiled a list of the top ten Algorand-based NFT projects to add to your watch list. Let’s dive right in.
- Cosmic Champs
Named a top NFT game of the year by CoinMarketCap, Cosmic Champs is a strong contender for one of the most anticipated play-to-earn NFT releases this summer. Cosmic Champs is building Algorand’s first 3D real-time strategy game and has received backing from various high-profile crypto VCs, such as Borderless capital. The game’s genesis NFT drop, which will distribute crucial in-game items like Ships and Champs, is set to take place in late June 2022.
The genesis collection’s 1560 NFTs will include eight kinds of Champs and two kinds of ships (in various designs) that will be sold via a dedicated Cosmic Champs NFT store. To participate, buyers will need $COSG, the project’s native currency. The White List for the initial drop is already closed, however, the private sale will be shortly followed by a sought-after public sale, which will feature many NFTs of Legendary and Epic status. Cosmic Champs is expected to release a beta version in the next few months, and have stated that holding an NFT will be a prerequisite to access the Beta game, as well other utilities such as private Discord channels and exclusive $COSG drops for NFT holders.
Although there has been no announcement about the price of Cosmic Champs NFTs, the team has shared in AMAs and interviews that the very first drop will be priced between $10 and $30USD – a stark contrast to projects like Axie Infinity, where the basic set of NFTs can cost hundreds of dollars.
2. Al Goanna
Holding the title of the largest Algorand NFT sale to date, Al Goanna is undoubtedly among the most popular profile picture NFTs in the Algorand ecosystem. Following Algorand’s carbon-negative approach, Al Goanna has pledged to plant a tree in Australia’s natural habitat for every NFT sold. The Al Goanna NFTs come with more than 100 unique individual traits.
What makes Al Goanna the most sought-after Algorand NFT are the high-profile collaborations, with the likes of Caleb Hutchinson (Algopulse’s Co-founder), StrtupBoost, and many more. The popularity of Al Goanna NFT collection is reflected in its floor prices and sales volume. At the time of writing, the floor price of Al Goanna NFT is 10,420 ALGO, which is equal to $4110 at current prices, and their total sales volume exceeds $4.3 million.
Nevertheless, a potential rival to Al Goanna’s success is already in sight. Graffealgorand is currently rising in popularity and has recently managed to claim a floor price of 1,700 ALGO as well as a total trading volume of $275k.
3. FIFA + Algo
In 2022, Algorand became the official blockchain sponsor of FIFA, the soccer’s global governing body, ahead of the World Cup competition in Qatar in November. The scalable smart contract platform will be a “regional supporter” for North America and Europe at the World Cup and an official sponsor of the FIFA Women’s World Cup in Australia and New Zealand next year.
Algorand will also provide the blockchain-supported wallet for FIFA and will have the opportunity for promotions, advertising, and media exposure through the organization. At the same time, FIFA will get assistance from Algorand to “develop its digital assets strategy,” which also includes launching FIFA’s branded non-fungible tokens in the future. Due to the technological prowess of Algorand blockchain and the massive brand value of FIFA, its NFT collection will be a crowd puller.
4. Australia Zoo’s NFT Collection
Another notable addition to popular Algorand-based NFT collections this summer is the Australia Zoo. The unique utility-driven Australian wildlife-themed NFT collection called ‘Wildlife Warriors’ celebrates the 20th anniversary of the conservationist organization, established a decade ago by Steve Irwin and his wife, Terri. Its exclusive “Allow List” was launched on May 4th and the genesis drop is set to launch June 15.
“Any innovation that can help our conservation efforts, particularly one that shares our vision of protecting the planet, is something we’re thrilled to support,” said Australia Zoo’s Robert Irwin in a recent press release, who believes the green chain Algorand and blockchain technology open up a new avenue “to fight for the protection of our wildlife and wild places.”
The project’s Warrior Crocs sale will offer 2,000 saltwater croc NFTs each priced at AU$50, with 100% of proceeds going towards Wildlife Warriors and Australia Zoo.
The Octorand NFT series witnessed phenomenal sales of more than one million ALGOs in sales volume and became the second most successful Algorand NFT project in History, although launched as recently as January 2022. Built on top of the Algorand blockchain, Octorand is a virtual world of opportunity with Octo Primes, which can be transformed to increment their value and trade through inbuilt marketplaces. The total sales volume of Octorand is 1.18 million ALGO, and the total sales volume exceeds $1.09 million.
Available only on the Algorand blockchain, Alchemon is the first monster-collecting NFT staking, crafting, and trading card game. The official Alchemon game cards represent Alchemons, the creatures that play a specific role in the game. One can treat Alchemons as collectibles too.
Apart from the game cards, there are several other assets and NFTs to collect on the platform. AlcheCoins, with a total supply of 100 million, is the native token of the platform that finds its use in governance and the disbursement of collector rewards and ecosystem incentives. The floor price of Alchemon NFTs is 4.8 ALGO, with the total sales volume exceeding $759,700.
7. Music NFTs
The ANote music marketplace, built on Algorand, is an NFT marketplace that connects musicians to their audience. Fans of musicians can support their favorite artists by investing in song royalties. The platform has also launched a series of NFT collectibles on the blockchain. Leveraging this series, fans can be direct purchasers of their artists‘ assets. One can store these NFTs on the Algorand wallet and view them anytime on the Algo Explorer.
The unique aspect of this NFT project is that it is the first marketplace to facilitate the creation and exchange of tokenized rights. Investors have significantly benefited by buying ANote Music NFTs as all music catalogs on their platform have generated a minimum of €10,000 in yearly royalty. The current average price of ANote music NFTs‘ across 11 available music catalogs is €12.48.
Interestingly, Algorand has recently acquired Limewire, a digital collectibles market, and Napster, a digital music service. Thus, in the coming days, they may emerge as competitors of the ANote music marketplace.
8. Aegir Tactics
Aegir Tactics, a next-gen digital card game that aims at reintroducing fairness and balance to the world of competitive play, leverages Algorand blockchain for payment and asset management. With a robust lineup of limited-edition collectible NFTs, Aegir Tactics makes holders eligible to earn rewards as shares of their automated reward pools. Participation in Aegir requires no prior research or random packs.
All you need to do is choose a legend and press play. It is also easy to organize decentralized tournaments through the platform. The payments are fast and trustless. The floor price of Aegir Legends is 179.99 ALGO, and their total sales volume exceeds $193,500.
9. Poppin Puffins
Having moved from Terra to Algorand, Poppin Puffins positions itself as a social nature club, with a unique series of nearly 10,000 curious and delightful puffins. Owning an NFT implies adopting a Poppin Puffin. The ownership comes with commercial rights of the puffin and automatic colony membership. The platform is also funding its initial DAO-controlled treasury with a value of US$20,000. 2.5% of the profits go to charities supporting Puffins and conserving the natural seabird habitats.
Speaking about why Poppin Puffin moved to Algorand, its founder, who goes by the pseudonym, Lil‘ Auk, said, „in a chaotic situation, you need to decide what the most important thing is for you. For us, that was not the money but saving our community from destruction and finding a new home with the right culture fit. The Algorand #Algofam community was supportive right out of the gate. We were able to speak with community members and leaders to find custom solutions for our specific situation.“
He further added, „part of our core mission is wildlife conservation, and many Algorand NFT projects share a similar focus on charitable giving. Algorand’s position as the greenest blockchain is a crucial factor that will allow us to convince organizations to work with us as their NFT partner. In the end, the ecosystem on Algorand is still very young, and as a small project, we prefer a chain where we can have an impact and create personal relationships to grow and thrive.“
An Algorand-based P2E game, Zone, is also the first-ever gamified, deflationary NFT with power-up mechanics. Aligned with the Power of Games, not only the Zone NFTs are gamified, but the entire ecosystem too. There are several types of NFT available in Zone, including tournament payout multiplier NFTs, solo challenge winning multiplier NFT, discount loot boxes, staking reward multiplier, and more. There are also provisions of transaction fee nullifier NFTs and daily rewards airdrops. The floor price of Zone NFTs is 170 ALGO, with a total sales volume exceeding $163,800.
Honorable Mention: Crypto Trees
An 11th Algorand project that is currently growing in popularity is Crypto Trees. The environmentally friendly project combines charity donations with fun and games. Proceeds from Crypto Trees token sales are donated to various organizations that plant trees and save forests around the world. Since its inception, Crypto Trees’ NFTs have achieved a trading volume of 138.6k ALGO, the majority of which was generated since April 2022.
Where can I trade Algorand NFTs?
Algorand NFTs are becoming available on more and more marketplaces. With that said, some Algorand-based NFT exchanges have already set themselves ahead of the competition.
The most prominent NFT marketplace to date is Rand Gallery, which has managed to capture a market share of about 50 percent according to NFT Explorer. Other notable upcoming platforms include ALGOxNFT and Algogems, which have both significantly increased their market share since March 2022.
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sources: algorand, nftexplorer, algogems, algoxnft, randgallery, zone, poppinpuffin
author: Rene Remsik
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.