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December 6, 2022

Are Cheap NFTs Worth the Investment or Are They Just for Fun?

Let’s take a look at NFTs from the other side of the spectrum. People are usually looking for NFTs to make a profit. Look at how well Bored Ape Yacht Club (BAYC) did, and how much their NFTs are worth now. You don’t always have to purchase expensive ones to make a profit, so let’s explore some of the cheaper NFTs that could maybe make you some money too.

Are Cheap NFTS Worth It?

Before you dive in and start buying up every cheap NFT project you come across, let’s examine how buying cheap NFTs can potentially be worth it.

Potential Profits

Of course, there is a chance that the cheap NFT you bought can double, triple or even quadruple in price. The catch is – you won’t know, because no one can tell the future. You can only use your best judgement to determine which NFT projects have potential.

Many profitable NFT projects went for cheap in the beginning, and then 1000x or more their value later on. It all has to do with demand and hype, but getting in on the ground floor for the cheapest NFT projects has a higher yield than an NFT project that sold for a high price. 

Low Entry Barrier

Let’s be honest, not everyone can afford expensive collections such as CryptoPunks. So, the low entry barrier that is a cheaper price can open the doors for less affluent people to potentially make a huge profit. This sounds enticing to everyone!

Establishment

Why would less established NFT projects be a plus side to cheap NFTs? Investing in NFT collections that are established and have a history means you have less control and say over how it develops. 

Imagine finding a project on the NFT market that is not only affordable, has plenty of potential, and offers you a position to influence its outcome? You can help make sure the cheap NFT project is a success. 

Know more about finding early NFT projects! Check out this article: How to find NFT Projects early

Purpose

We may be generalizing a bit, but sometimes the cheapest NFTs have the best utility. More expensive ones like Bored Ape NFTs may offer glitzy perks such as exclusive events that fellow holders (sometimes famous celebrities) could attend. 

Cheap NFTs can offer amazing utility such as supporting charitable causes like Kame Krew, which is donating 50% of all proceeds to help underprivileged kids in Thailand, and Shelter Pets, which aims to help improve the lives of animals in shelters all over the world. 

Not being on the Ethereum Blockchain also guarantees cheaper gas fees for these NFTs

Top Cheap NFTs to Buy Now

Looking for more examples of cheap NFTs to buy? Check out these collections!

Tamadoge is an NFT collection and a meme coin. What can you do with one of these NFTs? You can raise, breed and take adorable pets into battle (we don’t condone this in real life). Everything is done in the Tamaverse, a metaverse that allows you to interact with other players and explore the digital world. 

Tamadoge has really increased in value on the secondary market from an initial floor price of $0.03 to almost $0.2 in just a few days! Not to mention, the cuteness of the digital asset really ranks high on the scale!

The next one is Battle Infinity. The Battle Infinity ecosystem is a fantasy sports league, an NFT marketplace, a bunch of P2E games, a battle arena, a staking platform, and an exchange. It’s a lot of things rolled into one!

It’s definitely one of the cheap NFTs we’d wanna get into because of the impressive digital art. NFT enthusiasts can build their own fantasy sports team with winning passes having real-world utility – being sold on NFT marketplaces for money. 

While it sounds kind of eerie, this NFT collection is actually one of the cutest on the NFT market! They don’t have a very high floor price of just around $100, and buying one of these cheap NFTs can help these lost souls gain access to “the good place”.

Next up we have The Indifferent Duck NFT collection, which can be found on the OpenSea NFT marketplace. What makes this NFT collection special is that the NFT buyers would purchase eggs rather than a ready-made NFT. These NFT lovers could then customize their assets to create their own NFT art!

We will be honest and say that although this is one of the successful NFT collections, there isn’t as much on the utility side of things. However, creating your own NFT art sounds pretty enticing already.

We’ve mentioned this one before, but we thought we’d go into more detail about it. The collection aims to support Boom and Francis Watthanaya, who have dedicated their lives to helping the poor children in their community in Thailand. They provide a home for them, and a stable environment.

The kids can choose to train Muy Thai, as Boom is an instructor. Kids Boom and Francis have helped have gotten donors to put them through college! If you’re interested in supporting these kids, the mint process is live!

P2E fans rejoice as Frontier is one of the best cheap NFT projects to buy. The purpose is to battle one of two teams in order to gain control of the digital world. It is currently at a very affordable floor price for what it is – barely scraping 0.02 ETH.

If you’re looking for the next NFT project to invest in with a good chance for growth, then this is it!

This next NFT collection is a bit controversial, because the NFT art is quite abstract. People in the NFT community may not just want a bunch of geometric shapes even if it is cheap NFT art. While it has a very low investment threshold, it does take a certain artistic eye to appreciate this cheap NFT collection. But who knows, it could be worth as much as the cheapest Bored Ape NFT, which is over $70,000 at the time of writing.

This NFT project has a pretty average sale price for gaming NFTs. What really stands out is the NFT platform. It is an adorable universe that is accessible on mobile. We all know Pokemon, and Axies (the characters) take after the adorable appearance of the pocket monsters.

Lots of NFT investors and gamers love these digital assets. You can buy virtual Axies and battle them against other players. The cheap price for in-game tokens is also a plus, so check out the collection now!

If you’re looking to buy cheap NFTs, this is another great collection. The current floor price is still affordable and the secondary sales can potentially make you a profit. If apes can make a load of money, why not whale NFTs? The digital art is a little similar to BAYC, but they are whales with human attributes that affect rarity. 

Some of the benefits these cheap NFTs offer is immediate arrival into your crypto wallet, and a very clear roadmap.

We are seeing a trend here as many of the NFT platforms are games! Another one of the top NFTs to buy is MyCryptoHeroes, a game from Japan. What’s interesting is this project was one of the first blockchain games as it goes back to 2018.

It specializes in in-game items and when you purchase NFTs, they can all be used within the game.

Although this isn’t one of the cheapest NFTs ever, AlphaBot Society is very unique. Just take the NFT artist concept alone. These little robots resemble Wall E, and you can choose your own to participate in the game. When the project initially launched, they sold out in under 20 min!

Even though it is highly popular, it is still definitely one of the best cheap NFT projects to buy because it doesn’t even make the $200 mark in terms of NFT sales price on the secondary market now.

If utility is what matters to you, then Awesome Possums is one of the more affordable NFTs to invest in. Yes, they have a very lofty goal, which is to assist with mental health and addiction recovery, which is one of the most admirable utilities in the NFT world. The initial minting process will cost less than $100 and they have a very detailed and passionate roadmap for the future.

Going back to projects that offer amazing utility, Souls of Nature is one you don’t wanna miss. For those that are passionate about the environment and animals, this is it. The creators have pledged to donate 5% of its profits to help endangered ecosystems. What does it offer its supporters? 

Souls of Nature is a metaverse and each NFT the supporters purchase is an in-game avatar they can use.

Head over to Loopy Land and help innocent donuts escape their fate on the shelves. These NFTs are basically cute donuts with attributes. The floor price doesn’t require a high commitment at all at only around $50 right now.

Looking for another P2E game to invest in? Not only is Shrapnel Operators Collection an NFT for in-game use, it also offers plenty of utility! Holders of the NFT will have access to the early release of the game, a comic story linked to their specific character, and NFT airdrops in the future.

The art and graphics are amazing because some of the artists have worked on popular games such as Halo and Star Wars! Keep your eyes peels on this collection that is still under $100.

This is not the first time Silks has made it onto one of our lists, and it is here again for its low price for what it offers. It is a fantasy sports experience that has real-world value. What you get is thorough-bred horseracing with 1:1 copies of horses in reality – pretty cool right?

If you own the virtual horse that does well in the real-world race, then you get rewards! In order to participate in the fantasy races, you need to purchase your own Silks avatar.

Let’s move on to another climate-driven project that is dedicated to solving environmental issues. What IMPT does is turn carbon credits into NFTs, which holders can then trade on the NFT market.

What do these carbon credits do? They allow companies to fund conservation projects when they emit greenhouse gases. It is sort of like carbon offsetting.

Helix Founder Pass makes it as the cheapest metaverse NFT. Buying an asset gives holders exclusive access to the metaverse at the drop. A metaverse is not the only thing Helix Founder Pass will offer. You are also looking at a bunch of P2E games coming to the mix.

Not everyone gets a reward, you must earn it. The ranking system within Helix Founder Pass only rewards the most skilled. There is plenty of potential with this cheap NFT collection because we see a gradual rise of Esports within the past decade.

We really feel that this collection could be worth more than you paid for it, but remember, all investments have risks.  

Peak of NFT Boom: Am I Too Late?

Although NFT collections and blockchain technology are quite new, there seems to be a downward trend right now. Will it climb back up or are you too late to the game and the hype has passed?

The answer to this will vary from person to person, but in our opinion, NFTs, crypto and blockchain technology in general still have a long way to go! We’re seeing more integration with companies and adoption month by month.

Blockchain tech can prevent counterfeit NFTs to become more prominent, since the ownership won’t be written on the blockchain. This concept can be extended to other areas of security for digital wallets and other online platforms as well. 

Stock markets can have rises and falls, and the same goes for crypto markets. See this bear market as an opportunity to buy low and potentially sell high. This is why our list of the cheapest NFT projects is so important right now. 

Blue Chip NFTs

These NFTs are also better investment opportunities (generally) over a new NFT collection. If you’ve heard of blue chip stocks or blue chip crypto, then you’ll understand blue chip NFTs. The blue chips are NFTs that are the most well-known, popular and sometimes expensive.

These are also the ones that are less likely to decrease in value or drop below a certain amount. In other worlds, these NFTs are safer investments. Examples of some blue chip NFTs are Bored Ape Yacht Club and CryptoPunks.

How and Where to Find Cheap NFTs

If you’re sure you want to start investing in digital collectibles, the next step is to know where to buy NFTs. Many of the affordable NFTs have their own website where you can mint NFTs. Other popular NFTs that are cheap can be found on secondary marketplaces such as OpenSea, Rarible, and Nifty Gateway.

Browse around and find where the cheapest ones are listed. However, they can only be listed on marketplaces that support the blockchain the NFTs are built on. In other words, if the NFT is created on the Ethereum network, then you can only find them on marketplaces that support this chain.

Buying Cheap NFTs

If you’ve found affordable and cheap NFTs and the platforms they’re on, the next step is to buy them.

The steps will vary depending on what type of platform is selling NFTs you want. If your cheap NFT collection has its own website, the minting can be as easy as pressing a button. However, NFT marketplaces work a little differently. 

Regardless of which one you choose, the steps can be very similar with clear instructions every step of the way. 

  1. Get a digital wallet that supports the blockchain your cheap NFT is on.
  2. Create an account for the wallet and the NFT marketplace. You may also need one on a crypto exchange so you can fund your wallet.
  3. Connect your wallet to the crypto exchange to move crypto you need into it. Then connect the wallet to the NFT marketplace.
  4. Once everything is connected, you can browse the best cheap NFTs! You will also need to do these steps if you plan to sell NFTs as well. 

FAQ

• Are there any free NFTs?

Yes, there are free NFTs! Some creators can give free NFTs away in giveaways to generate hype for their project, but if you look on marketplaces, there are no free NFTs. Some whitelist spots can also offer a discount for people who have spots.

• What is the cheapest an NFT can sell for?

What the cheapest NFT can sell for depends on the creator. They can decide to list it for as little as 0.000000000001 to infinity of whatever crypto they choose. However, it’s important to not only look at the price of your NFT purchase but to make sure it offers ample utility as well.

Conclusion

Buying NFTs is more than just browsing the market for what you like. Knowing when to buy cheap NFT projects can also make a difference in the profit you make. Don’t just look for cheap NFTs to buy, really analyze what the project is bringing to society. What type of utility does it offer, or is it just something that works in virtual worlds? 

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