Last updated on November 4th, 2024 at 04:12 am
Non-fungible tokens known as NFTs are generally perceived to be expensive projects and difficult to invest in. That is not always the case because 2022 has seen a rise in NFT projects that are cheap, and in this post, we are going to list some of the cheapest projects you should look out for.
The buzz around NFTs hasn’t dropped at all. The NFT market has continued to grow and there are lots of projects that are springing up that you might have to pay attention to. There have been predictions by experts that 2022 will be a great year for blockchain development and adoption and also for NFT revolutions.
In case you are still not familiar with what an NFT is, they are noninterchangeable cryptographic assets that are created and exist on a blockchain and they show ownership of real-world collections like art, property rights, real estate, etc.
You can buy NFTs on OpenSea, and other NFT marketplaces by following just very few steps. Investing in NFT projects is an easy process contrary to the common misconceptions about NFTs people have. Let me give a brief overview of what an NFT project is before we proceed to the list.
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What is an NFT Project?
An NFT project is a unique collection of Non-fungible tokens. As we already established before, NFTs are cryptographic assets that are stored on a blockchain with proof of ownership to real-world items.
While NFT arts are made on a smaller scale by individual artists, NFT projects on the other hand are created by large organizations. NFTs are mostly marketed and traded on the NFT marketplace like OpenSea, Raible, Magic Eden, and Nifty Gateway, while NFT projects on the other hand are marketed on the platforms of the organization that created them.
We know that picking an NFT project to invest in might be a long and sometimes confusing process, especially for beginners, In this post, we have compiled a list to help you with making your choices easier.
The 6 Cheapest NFT Projects for October 2022
Below is our quick pick of the best cheapest NFT projects to invest in, and an additional review of the projects will also be included. In no particular order:
- Lucky block (LBLOCK). Market Cap $7.8 million
- Tamadoge (TAMA). Market Cap $54 million
- Battle Infinity (IBAT). Market Cap $7.3 million
- Metacity
- League of Kingdoms (LOKA). Market Cap $13 million
- The Sandbox (SAND). Market Cap $1.2 billion
1. Lucky Block (LBLOCK). Market Cap $7.8 million
Built on the Ethereum blockchain, Lucky Block is an NFT-based competition platform that offers weekly NFT draws and crypto to its players. You can enter the various prize competitions by buying one of the NFT collections that are minted on the Lucky Block competition platform.
Entry to the Lucky Block competition and reward is simple, just follow the steps below:
Buy NFTs: The longer you hold the Lucky Block LBLOCK token, the more you are rewarded. Rewards are earned in LBLOCK and it grants you access to eligible competitions.
Earn Rewards: All NFT holders on the Lucky Block platform are rewarded as long as they hold Lucky Block NFTs.
Win Prizes: When an NFT collection sells out, an eligible winner is selected. Each unique collection of Lucky Block NFT comes with a Lucky Block NFT competition.
Prizes that are won range from luxury watches, PS5 consoles, Lamborghini cars, and $1 million worth of houses.
LBLOCK is the native cryptocurrency of the platform and it has two token versions, the BEP-20 (V1) protocol and the ERC-20 token (V2) which was newly released. According to data from CoinMarketCap, the price for the V1 token is $0.0001928, and the V2 token trades at $0.0002318. Lucky Block has a market cap of $7.8 million.
2. Tamadoge (TAMA). Market Cap $54 million
Tamadoge is a project that blends elements from P2E gaming and NFTs. The game will be integrated into the metaverse shortly. It offers in-game earning opportunities to members of its platform.
Developers of Tamadoge look to offer a tax-free purchase of their token and so an ERC-20 token of Tamadoge is also available.
Tamadoge pets can be purchased from the Tamadoge in-house NFT marketplace. Players can put these pets as they mature into battle in the Tamadoge battling arena and return earn some Dogepoints.
Players breed these pets and grow them by buying NFTs to feed them. The pet’s growth determines a player’s ranking on the leaderboard.
TAMA is the native token of the Tamadoge platform. According to details from CryptoNews, Tamadoge had one of the best presales of 2022. The value of the TAMA token increased nearly 20x from its presale price after its listings on OKX.
If you are looking for an NFT project with a better upside to invest in, then Tamadoge just might be the best choice for you. The price of TAMA today is $0.04788 and has a market capitalization of $54 million.
3. Battle Infinity (IBAT). Market Cap $7.3 million
Battle Infinity was listed in our top 8 cryptocurrencies to invest in in October, so it is not surprising that it is also added to this list. It is a Mumbai-based play-to-earn gaming project.
Battle Infinity is offering investors the opportunity to get in early on the project that could seem to be the project the year. If you are an NFT enthusiast and you have been looking for a cheaper play2earn opportunity because the ones that are available in the market are too expensive, then Battle Infinity might just be the best choice for you.
The project is split into six different platforms and has already been KYC-verified by CoinSniper. Battle Infinity was created by Suresh Joshi, Jagjeet Jena, and Vinay Chhabra and is a project that brings fantasy sports into the crypto space.
The six different platforms include:
- The IBAT Premier League (fantasy sports league)
- The IBAT Battle Area (Metaverse world)
- IBAT Battle Games (gaming platform)
- IBAT Battle Stake (stake IBAT & other cryptos)
- IBAT Battle Swap (DeFi exchange)
- The IBAT Battle Market
The BEP-20 $IBAT token is the native cryptocurrency powering the Battle Infinity universe and has a limited supply of 10 billion. The token is used to reward players, to make the purchase of virtual advertising space easier, and also as staking rewards.
According to data from CoinMarketCap, the price of Battle Infinity (IBAT) is $0.002279 and has a market cap of $7.3 billion.
4. Metacity
Metacity operates as an Ethereum-based metaverse reality that operates a decentralized Web3 city where humans can be involved by leveraging various blockchain-based protocols.
It is a play2earn game where users can create a virtual world with the metaverse. In Metacity, you can build your house, win rewards, buy your dream house, and even have a fantasy pet.
Metacity real estate can be purchased from NFT marketplaces like Opensea. HOTM is the human avatar in the metaverse games. The HOTM NFT collections comprise 6,500 virtual avatars which interested users can also purchase from NFT marketplaces.
As of the time of writing this post, the HOTM NFT collection has a total volume of $183,000. This is one project you definitely should keep an eye on.
5. League of Kingdoms (LOKA). Market Cap $13 million
League of Kingdoms offers play2earn economics by leveraging its governance token and also playable NFTs. It is popularly known as a massively multiplayer online (MMO) strategy game where players fight for dominion.
The game sees players taking part in creating a fantasy world where they build kingdoms, form alliances, and build armies while they battle in Player vs. player, Player vs. environment, and party-play gaming modes.
Players can participate in the government through voting and Congress systems. Dragon Soul Tokens (DST) is the utility token of the League of Kingdoms platform. Players can also earn the DST tokens after they purchase the in-game NFT collections called Dragos which are dragon-shaped avatars.
The floor price of the Dragos avatar is 0.05 ETH ($84). However, the governance token of the League of Kingdoms project is LOKA. The current price of the LOKA token according to data from CoinMarketCap is $0.5419 and has a market cap of $13 million.
6. The Sandbox (SAND). Market Cap $1.2 billion
The Sandbox is another one of our cheapest NFT projects to invest in in October. It is Ethereum-based virtual gaming where users are allowed to create Non-fungible tokens, upload them to marketplaces, and monetize their content.
The game features blocky characters in the free-to-explot map. It is a very good choice for investors who are looking to own virtual real estate.
The Sandbox is envisioned to be a fully decentralized game where the players can create custom experiences by leveraging LAND to hold virtual events and more.
LAND is an ERC 20 token and is the utility token of the Sandbox with a total collection of 166,464 pieces. LAND can be purchased and traded on NFT marketplaces like Opensea. You can also purchase multiple LAND plots and rent them out to other players.
The LAND NFT can be purchased on Sandbox with SAND. SAND is an ERC-20 token, and is the governance token of the Sandbox. The price of Sandbox today according to data from CoinMarketCap is $0.8307 and has a market cap of $1.2 billion.
Conclusion
With the NFT market predicted and expected to grow in 2022, now is the time to look through some of these projects and add them to your portfolio.
Personally, if I am to recommend the cheapest NFT projects for you to invest in October, then Tamadoge will be that recommendation. Tamadoge is available for purchase on the OKX platform. However, every project listed above is good and is worth purchasing.
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Disclaimer: This is not financial advice. The views and opinions shared on this post are those of the author who wrote the post and is in no way financial advice. You are always advised to do your research or consult with an expert before investing in any digital asset.
Featured image credit: nftdrops zone
Victor Swaezy
Victor Swaezy is a crypto-journalist with more than 3 years of experience in covering blockchain technology and digital currencies news. Known for his comprehensive reporting, Victor has contributed to leading industry publications such as Coinfomania and Crypto News Guru, providing market participants with the required knowledge to make informed decisions. When he is not working, he loves to watch movies and have a good time.