The Best Cheap NFT Project That Will Explode in 2023

What Is An NFT?

NFTs, or Non-Fungible Tokens, are a kind of digital asset you can store on a blockchain. The Non-Fungibility of an NFT asset means that there is only one of it available, it has no double, and you can’t interchange it with any other token.

This feature is completely the opposite of cryptocurrencies, i.e., my one BTC equals your one BTC in value, but my one NFT, does not have the same value as your one NFT asset.

NFTs symbolise everything from artwork, music, videos, and virtual real estate to tweets and other intellectual properties. Blockchains host NFTs, and smart contracts secure their uniqueness and authenticity.

NFT’s ownership is recorded on the blockchain, so it’s secure and transparent to buy, sell, and trade these digital assets. But NFTs are becoming more popular, and some have increased in value significantly.

So, the question is how to find cheap NFTs among all these expensive NFT projects in the market, and not just affordable but with high quality.

Learn More: What Is An NFT?

How To Choose The Best Cheap NFT?

Choosing NFTs as best is highly dependent on each investor’s goals, priorities and funds. However, the following tips are general rules for selecting the best cheap NFT projects.

• Examine Various Marketplaces: Trustable NFT marketplaces like OpenSea, Rarible, and Nifty Gateway provide various categories based on which you can compare prices and artists and find the best cheap NFT projects.
• Research about The Artist/ Creator: The fame and popularity of an NFT artist/ creator influence the price. Artists’/ Creators’ previous works can help you predict whether their new work can be famous.
• Rarity: Rare and unique NFTs, i.e., those with limited editions, special features, or one-of-a-kind, are more expensive.
• History: NFT assets have a history of their trade where you can check if it has been resold and for how much, which is a good indicator of the NFT's value and potential future price.
• Funds: Think and decide how much you wish to spend on a certain NFT to be able to find the NFTs in your budget.

The above factors help you find the best cheap NFT projects, but it is also good to know what can affect the price o an NFT, as you can decide faster and more easily.

Read More: What Is NFT Staking? Is It Safe? What Are The Best NFTs?

Factors Affecting The NFT Price

• Rarity: The most important factor affecting a given NFT’s price is its rarity, i.e., more unique or limited edition NFTs have a higher value. The number of editions, the artist's popularity, and the asset's historical significance determine its rarity.
• Popularity: The more popular an NFT asset, the higher its price. NFTs created by popular artists or those under the spotlight of social media can have more prices.
• Historical Significance: NFTs representing significant moments in history or culture have more value.
• Quality: The better the quality and condition of an NFT, the more valuable it can be.
• Scarcity: Scarce NFTs are more expensive. NFTs get more scarce by limiting the number of editions, limiting access to the NFT, or creating unique NFTs.
• Blockchain Platform: The blockchain platform hosting the NFT can also affect its price. More popular platforms are more trustworthy, so the NFTs created on them can have more value.
• Demand: The more the number of buyers of an NFT asset, the more valuable it can be.

Now that we know the essential factors needed to choose the best NFTs let’s explore the best cheap NFT projects that will explode in 2023.

Read More: The Ultimate List Of Free NFT Wallets For 2023: Which One Is The Best?

The Best Cheap NFT Project That Will Explode in 2023

Remember that nothing is 100% certain in the volatile crypto market, but according to the factors explained above, the following list provides the ten best cheap NFT projects that have the potential to grow significantly in 2023.

Bored Ape Yacht Club

Bored Ape Yacht Club is a collection of unique hand-drawn apes with differing attributes and accessories. It is a community-driven project with a catchy design, so it’s attracted many NT enthusiasts.

Bored Ape Yacht Club has been partnering and collaborating with many other NFT projects, which means an increased value in the coming years.

Art Blocks

As a generative art project, Art Blocks focuses on creating unique pieces of digital art. The pieces are one-of-a-kind, and owners have the ability to customise them.

Art Blocks is loved by many and has gained huge popularity as it has an innovative approach to digital art and can create truly unique pieces.

Pudgy Penguins

Another collection of unique digital art is Pudgy Penguins, which includes hand-drawn penguins with various features and accessories.

Pudgy Penguibs has a cute and playful design and is working actively on increasing the community and user base.

Loot Project

Those seeking adventure will love the Loot Project, which is a collection of text-based adventures. In this project, each token represents a unique piece of equipment.

The Loot Project has become more popular because it has built the collection based on a unique concept. Its potential for gaming and other use cases beyond collectables has made it more appealing to NFT enthusiasts.

Cool Cats

Cool Cats is comprised of a collection of hand-drawn cats, which have different features and related accessories. Cool Cats is popular since it has a stylish design and focuses on growing the community.

The Sevens

The Sevens project includes a unique collection of hand-drawn characters with interesting attributes and varying accessories.

CyberKongz

CyberKongz is a set of hand-drawn cybernetic apes which come with different features, and you can buy many accessories for them. CyberKongz is becoming increasingly popular because it takes design seriously and follows various methods to develop the community.

Meebits

Providing an eye-catching collection of unique 3D voxel characters that can be used in virtual worlds and games, Meebits has gained popularity, especially because of its potential to be used in gaming and other areas, and it’s not just a set of collectables.

Gutter Cats

Another NFT project for cat lovers is Gutter Cats, a collection of hand-drawn cats with a punk aesthetic. Gutter Cats has a truly distinctive design and has attracted many users for this, and currently has an active community.

Parallel Alpha

Parallel Alpha provides a collection of unique generative pieces of art that are designed to be used as game pieces. Also, this project has the potential to be used beyond just collectables and has a developing community.

Now that we know the best cheap NFT projects, we can focus on two major NFT hosts, Solana and Cardano blockchain, to find the best cheap NFT collections on Solana and Cardano.

Read More: The Best NFT Marketplaces In 2023 For Beginners By Fee And Volume

The Best Cheap Solana NFT Collections

• Solanart: It is a Solana-based NFT marketplace that offers a user-friendly interface, low fees, and a growing set of NFT collections.
• Solanium: It is a Solana-based platform for creating and trading NFTs. Its interface is easy-to-use, and its community is growing.
• Degenerate Ape Academy: It is a collection of hand-drawn apes with various features, attractive design and an active community.
• Aurora DAO: Aurora DAO is a Solana-based Decentralized Autonomous Organization (DAO) that supports NFT projects on the Solana network.
• Star Atlas: Star Atlas is a Solana-based sci-fi MMORPG incorporating NFTs into the game's economy.

The Best Cheap Cardano NFT Collections

• SpaceBudz: It is a collection of aliens with various accessories and features.
• CardanoKidz: It is a collection of characters with various attributes and a cute and playful design.
• CardanoBits: It is a collection of 8-bit style NFTs that can be used as avatars or collectables.
• CardanoWarriors: Itis a collection of hand-drawn warriors which can do multiple tasks.
• CNFT: It is a Cardano-based NFT marketplace that provides low fees and a growing set of NFT collections.

It’s no secret that OpenSea is one of the most popular and trusted NFT marketplaces. So, it’s wise to explore it and find the best cheap NFT projects in the OpenSea marketplace.

Read More: The Best Cardano NFT Projects To Buy In 2023: What Is The Best New Cardano NFT?

The Best Cheap NFT In The OpenSea Marketplace?

Some of the best cheap NFT collections on OpenSea are

• Bored Ape Yacht Club (BAYC),
• Cool Cats, and
• Pudgy Penguins.

Remember that the prices of these collections change because of market demand and many other factors mentioned above, so it is essential to DYOR (do your own research) before making decisions.

If you’d like to search the OpenSea NFT marketplace for the best cheap NFT projects by yourself, you can take the following steps.

• Filter the projects by price.
• Check out newly added NFTs (or the latest additions), as they’re usually cheaper.
• Look for new artists as they sell NFTs at lower prices to gain exposure.
• Research the collection and artist, i.e., their previous works, social media presence, and reputation in the NFT community.

You may ask what other trustable NFT marketplaces are there. The next section will tell you!

The Best NFT Marketplace To Buy Cheap NFT?

Here is a list of the best NFT marketplaces that offer affordable and trustable NFTs.

• OpenSea
• Rarible
• SuperRare
• Nifty Gateway
• Hic et Nunc

Read More: The Best Cardano NFT Marketplaces In 2023 By Fee And Volume

Summary

The NFT market is on a fast evolution, and numerous projects have shown growth potential in 2023, and it is sometimes difficult to find the best ones fitting our needs.

While it's impossible to predict the future success of any NFT project, this article tried to provide the important features that NFT investors need to look for in a given NFT project.

It’s no secret that the crypto market is full of surprises and shocks. To avoid any loss, savvy investors do thorough research, rely on authentic sources only, and understand the risks before making any decisions.

One of the trustable sources for everything crypto is Cryptologist, which can help you make confident investment decisions by providing a free crypto screener to let you monitor your favourite projects and detailed crypto project reviews to help you learn all about the projects of your interest.