Key Components of a Blue Chip NFT Project ?

The term “blue chip” is passed around a lot in the NFT world – it’s often used to describe projects like CryptoPunks and Bored Ape Yacht Club, but beyond those two there’s a lot of debate. Not surprisingly, the term “blue chip” has become a controversial one in the NFT world and nobody seems to be able to agree on how many projects have earned the title.

“Blue chip” term is used a lot in NFT world- projects like CryptoPunks and Bored Ape Yacht Club, are being denoted by the word “Blue chip” very often,apart from that there is a lot of argument. How may project got this title of “Blue chip” there are no exact numbers and nobody in NFT is can say about “Blue chip” project numbers.

Not to start off my article with some disappointing news, but I may as well come out and say it – I don’t have the answer you’re looking for. Sorry, I don’t, but I’m not alone because the reality is, the term “blue chip” means different things to different people.

I don’t want my article to start with some dispiriting news, term “blue chip” may vary person to person. Different people have different meanings of “blue chip” and even I cannot answer this.

Of course, this is my blog so I sure can share my opinion, and you can either stop reading now, or forge on and hear what I think. Still here? Doh – I was hoping I’d lose you by now.

So in all gravity, how can we develop a skeleton tofind out if a project is a “blue chip” or even superior, has “blue chip potential” since recognize projects before they reach this degree is really what so many NFT investors are gazing at. Let’s face it – when you mint a new project, your goal, as an investor, is to hopefully discover the next “blue chip” early, as early as you can get really.

While I could show some blurred schemes around what makes a “blue chip” NFT plan exceptional, I’m a statistic guy, so I’m going to take a stab at calibratingit if I can. First things first –one and all needs to stop being short-sighted focused on the floor price itself. Way too many people say, if the floor is above X it’s a “blue chip,” and well, that makes no sense IMO.

Change in floor price is one of the factor what makes a “blue chip” NFT. However, it is not the only factor, the most important thing is to observe the project and how much unique owners it has over time, we must observe the community too and access how engaged they are.

Let’s put “Blue chip” NFT status into an equation, although an equation we can all agree is probably wrong, very wrong now, but has the potential to someday to be right.

So here we go.

I think there are a few important factors we need to look at:

1. Floor price growth percentage
2. Average sales price growthsince mint
3. Growth in active discord members from mint
4. Growth in Twitter followers from mint

The formula we could derive from this could honestly be something incredibly simple like:

(floor growth) + (avg sale price growth) + (active Discord member growth) + (Twitter follower growth) = X

It is going to take some experiment in order to derive sensible outcome. If you made it this far, you’re a trooper – thanks for reading.