Top 10 NFT projects in 2022! 

Maciej Zieliński

26 Jul 2022
Top 10 NFT projects in 2022! 

The increasing digitization of almost every sector of the economy has made NFT tokens more popular. The technology itself can offer a lot to its participants. The benefits can start from enhancing digital currency, to copyrighting music, movies and art, and even creating a single community. Interestingly - in 2021 alone, the NFT market generated token sales of about $75,736,378. Not surprisingly, many people are thinking about buying their own NFT, but don't know what its value might be. What projects are worth exploring in 2022? Why exactly is a particular NFT attractive? We write about it below! 

nft

How to assess whether a given NFT is attractive? 

The value of a given NFT is determined by a number of factors - from the team behind it to the technology that represents a particular NFT. The most important elements that suggest that a given NFT is attractive are the following:

  • Rarity - a determination of how difficult it is to obtain an NFT token. 
  • Utility - defining the use of a particular NFT in digital and physical versions. 
  • Tangibility - linking the digitization of the NFT to the physical world. 

Each of the functions can be checked with the appropriate tools. We wrote more on this topic -> here. If you check a given project using these tools and taking into account the factors mentioned above, you will be more aware of a potential NFT purchase. 

nft

Top 10 NFT projects in 2022! 

Nevertheless, we have prepared a list of the top 10 NFT projects for 2022. We point out here that this is the subjective assessment of the author of the text and is not intended to encourage anyone to make an investment/purchase of a particular NFT. You are welcome!

LazyLions NFT

This is an NFT platform based on the Ethereum blockchain. LazyLions offers 160 different features that distinguish each lion. The features in question include clothes, mane, facial expressions and more. LazyLions is also a meeting place for the NFT community in the form of Private Island. The benefits of NFT LazyLions include additional Airdrops, individual communication channels with the community, you get voting rights regarding the project. When you purchase a Lazy Lions or Lazy Bungalows NFT image, the art is completely yours. Whether you want to print and sell the merchandise, use it in advertising, or want it to be the star of your own show! You can read more about the project itself on its website, which can be found -> here. 

Unusual whales 

Unusual whales is an NFT project that collects 6,969 whales. Each of them has individual characteristics, which makes them rare. In addition, the project has special tools to help make investments. The site tracks whale transactions in the NFT market and follows the best portfolios in the space. According to the creators, the whales are supposed to help trade cryptocurrencies through relevant tools and cut off any speculators. An interesting point is that you can buy whales at attractive prices. In the future, it is planned to implement investment solutions from the capital market into the NFT project. Details about the project can be found on this page -> click. 

Cryptopunks

This is a project that was developed on the Ethereum Blockchain in 2017. It was developed using Larva Labs studio. It has 10,000 unique collectible items with ownership in its database. The very premise of the project is punks that can be purchased, auctioned and sold. Each punk has a background color, which indicates its situation i.e. whether it is for sale or not. This design is attractive due to the fact that, realistically, the supply of NFTs has been limited invariably to 10,000 pieces, which ensures that they do not fall in value. The graphics themselves are associated with childhood games on old consoles, which also has its own appeal. The project website can be found -> here. 

Sneaky Vampire Syndicate and NFT

At a time when every young person is familiar with the Twilight film series and is aware of the existence of B. Dracula. Stoker, it didn't take long for NFTs related to vampires. According to the creators, there are 8,888 vampires, where each of them has its own specific traits and characteristics. Interestingly - the NFT itself is in a way an aftermath of the Bored Ape Yacht Club and its creators. The plot of Sneaky Vampire Syndicate is set in a vampire house fenced off from the reach of sunlight, where each vampire takes action. The project itself is interesting for several reasons:

  • first - it has been a success right from the start, 
  • second - the people behind it are those who make up the Bored Ape Yacht Club with experience in this subject matter, 
  • third - the amount of NFT supply has been limited to 8,888 vampires, 
  • fourth - an NFT purchase reservation system was created, which led to saving hundreds of thousands of dollars for Ethereum gas. 

Are you interested in the concept of vampires in NFT? Read more about it -> here. 

Bored Ape Yacht Club

This is an NFT project that is already known almost everywhere in the cryptocurrency and blcokchain technology community. It consists of 10,000 NFT monkeys, where each monkey has its own uniqueness. The NFT itself is popular with global celebrities such as Eminem and Snoop Dogg. People who buy monkeys get access to the vip community. Access to the club itself gives many benefits - from earning from the increase in the value of the monkey, to participation in events organized with celebrities in the US.  In our opinion, the appeal of the project lies in the limited supply of NFT tokens, access to a cool group of people and organized events. Although the project is extremely popular, it is still worth learning more about it. You can find them -> here. 

The cryptoDads

The cryptoDads is a collection of 10,000 unique, randomly generated NFTs based on Ethereum blockchain technology. The NFT color scheme itself is reminiscent of the TV series "Bobs Burgers." The collection is a satire of mid-life crises in men who have been placed in the world of cryptocurrencies and graphics. It's an interesting design that deviates in its construction and behavior from others. The cryptoDads focuses on quality in artwork, rather than the rarity of the piece. The goal of NFT's founders is for people to identify with the virtual figures and have an emotional approach to them. The approach to people owning NFT on cryptoDads is interesting - they have access to channels on a variety of topics, including sites with memes and jokes about fathers, pets, the garage, etc. A very cool aspect is that members can also ask any questions or seek help with issues they are facing. The satirical page of the NFT itself can be found here -> check it out. 

CyberKongz

This is a project that means more than just NFT. The randomly generated avatar can appear in 2D or 3D. The graphic process itself is based on the evolution of humans from monkeys. Each monkey has specific features that make them visually appealing. The project makes NFT monkeys affiliated with charities and donates about 10% of profits to them , to play their key role in improving the world. It's a cool initiative that focuses on helping others, seeing people's development and directing their thinking towards charitable actions. Do you like CybreKongs? Check out their website

VeeFriends

The creator of the NFT platform is Gary Vaynerchuk - an American entrepreneur, author of four New York Times bestsellers, motivational speaker and internationally renowned Internet personality. He created NFT aimed at developing and supporting his business and creative ideas. Each token within the Series 1 collection is based on one of 268 characters that were originally hand-drawn by Vaynerchuk as representations of human traits. Interestingly, he displays qualities that he himself uniquely values in another human being. NFT buyers get access to Gary's materials and have a real impact on the development of his ideas. It's an interesting concept, because there is a real successful man behind it, who can be supported by us. We encourage you to check out more information about the project on his website. 

uUnicorns

Uunicorns stands for Uninterested Unicorns. The project is based on the Ethereum Blockchain, and the number of unicorns is 6900. It was founded by Terence Ting, who is also the owner of esports company Team Flash, Co-founder of The Asian Mint. The creators believe that their project is the development and expansion of the Internet economy, metaverse and video games. uUnicorn is to create an online entertainment destination for every token holder. The unicorns themselves have a nice and aesthetically pleasing design in the climate of a digital fairy tale. uUnicorns has its own website, which presents more information about the NFT in question. 

Doge Pound

The NFT platform consists of attractive artworks depicting dogs in hipster outfits. This NFT is created with the help of complex algorithms that combine many individual features on the dogs, for example, clothes, fur, hat, eyes, background and more. Each Doge Pound is aesthetically pleasing and individual. A very important advantage is that  each Doge Pound NFT carries a different initial value, which is determined by considering various factors. It is not the most popular project, but it is gaining interest. Work is underway regarding the creation of tokens and accessories for the Metaverse. Early entry into the Metaverse will make Doge Pound one of the first NFTs in the new technological world.

You can read more about the project itself on its website, which can be found -> here. 

Summary 

As you can see, the NFT token market is becoming more and more popular. However, we should remember to check each platform with the right tools. An important aspect is to check the history of the project, team members and token supply. Tokenomics, is an essential element that should be analyzed before buying NFT. The above list is our subjective discussion of projects and should not be taken as an offer or investment proposal. 

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Nextrope on Economic Forum 2024: Insights from the Event

Kajetan Olas

14 Sep 2024
Nextrope on Economic Forum 2024: Insights from the Event

The 33rd Economic Forum 2024, held in Karpacz, Poland, gathered leaders from across the globe to discuss the pressing economic and technological challenges. This year, the forum had a special focus on Artificial Intelligence (AI and Cybersecurity, bringing together leading experts and policymakers.

Nextrope was proud to participate in the Forum where we showcased our expertise and networked with leading minds in the AI and blockchain fields.

Economic Forum 2024: A Hub for Innovation and Collaboration

The Economic Forum in Karpacz is an annual event often referred to as the "Polish Davos," attracting over 6,000 participants, including heads of state, business leaders, academics, and experts. This year’s edition was held from September 3rd to 5th, 2024.

Key Highlights of the AI Forum and Cybersecurity Forum

The AI Forum and the VI Cybersecurity Forum were integral parts of the event, organized in collaboration with the Ministry of Digital Affairs and leading Polish universities, including:

  • Cracow University of Technology
  • University of Warsaw
  • Wrocław University of Technology
  • AGH University of Science and Technology
  • Poznań University of Technology

Objectives of the AI Forum

  • Promoting Education and Innovation: The forum aimed to foster education and spread knowledge about AI and solutions to enhance digital transformation in Poland and CEE..
  • Strengthening Digital Administration: The event supported the Ministry of Digital Affairs' mission to build and strengthen the digital administration of the Polish State, encouraging interdisciplinary dialogue on decentralized architecture.
  • High-Level Meetings: The forum featured closed meetings of digital ministers from across Europe, including a confirmed appearance by Volker Wissing, the German Minister for Digital Affairs.

Nextrope's Active Participation in the AI Forum

Nextrope's presence at the AI Forum was marked by our active engagement in various activities in the Cracow University of Technology and University of Warsaw zone. One of the discussion panels we enjoyed the most was "AI in education - threats and opportunities".

Our Key Activities

Networking with Leading AI and Cryptography Researchers.

Nextrope presented its contributions in the field of behavioral profilling in DeFi and established relationships with Cryptography Researchers from Cracow University of Technology and the brightest minds on Polish AI scene, coming from institutions such as Wroclaw University of Technology, but also from startups.

Panel Discussions and Workshops

Our team participated in several panel discussions, covering a variety of topics. Here are some of them

  • Polish Startup Scene.
  • State in the Blockchain Network
  • Artificial Intelligence - Threat or Opportunity for Healthcare?
  • Silicon Valley in Poland – Is it Possible?
  • Quantum Computing - How Is It Changing Our Lives?

Broadening Horizons

Besides tuning in to topics that strictly overlap with our professional expertise we decided to broaden our horizons and participated in panels about national security and cross-border cooperation.

Meeting with clients:

We had a pleasure to deepen relationships with our institutional clients and discuss plans for the future.

Networking with Experts in AI and Blockchain

A major highlight of the Economic Forum in Karpacz was the opportunity to network with experts from academia, industry, and government.

Collaborations with Academia:

We engaged with scholars from leading universities such as the Cracow University of Technology and the University of Warsaw. These interactions laid the groundwork for potential research collaborations and joint projects.

Building Strategic Partnerships:

Our team connected with industry leaders, exploring opportunities for partnerships in regard to building the future of education. We met many extremely smart, yet humble people interested in joining advisory board of one of our projects - HackZ.

Exchanging Knowledge with VCs and Policymakers:

We had fruitful discussions with policymakers and very knowledgable representatives of Venture Capital. The discussions revolved around blockchain and AI regulation, futuristic education methods and dillemas regarding digital transformation in companies. These exchanges provided us with very interesting insights as well as new friendships.

Looking Ahead: Nextrope's Future in AI and Blockchain

Nextrope's participation in the Economic Forum Karpacz 2024 has solidified our position as one of the leading, deep-tech software houses in CEE. By fostering connections with academia, industry experts, and policymakers, we are well-positioned to consult our clients on trends and regulatory needs as well as implementing cutting edge DeFi software.

What's Next for Nextrope?

Continuing Innovation:

We remain committed to developing cutting-edge software solutions and designing token economies that leverage the power of incentives and advanced cryptography.

Deepening Academic Collaborations:

The partnerships formed at the forum will help us stay at the forefront of technological advancements, particularly in AI and blockchain.

Expanding Our Global Reach:

The international connections made at the forum enable us to expand our influence both in CEE and outside of Europe. This reinforces Nextrope's status as a global leader in technology innovation.

If you're looking to create a robust blockchain system and go through institutional-grade testing please reach out to contact@nextrope.com. Our team is ready to help you with the token engineering process and ensure your project’s resilience in the long term.

Monte Carlo Simulations in Tokenomics

Kajetan Olas

01 May 2024
Monte Carlo Simulations in Tokenomics

As the web3 field grows in complexity, traditional analytical tools often fall short in capturing the dynamics of digital markets. This is where Monte Carlo simulations come into play, offering a mathematical technique to model systems fraught with uncertainty.

Monte Carlo simulations employ random sampling to understand probable outcomes in processes that are too complex for straightforward analytic solutions. By simulating thousands, or even millions, of scenarios, Monte Carlo methods can provide insights into the likelihood of different outcomes, helping stakeholders make informed decisions under conditions of uncertainty.

In this article, we will explore the role of Monte Carlo simulations within the context of tokenomics.  illustrating how they are employed to forecast market dynamics, assess risk, and optimize strategies in the volatile realm of cryptocurrencies. By integrating this powerful tool, businesses and investors can enhance their analytical capabilities, paving the way for more resilient and adaptable economic models in the digital age.

Understanding Monte Carlo Simulations

The Monte Carlo method is an approach to solving problems that involve random sampling to understand probable outcomes. This technique was first developed in the 1940s by scientists working on the atomic bomb during the Manhattan Project. The method was designed to simplify the complex simulations of neutron diffusion, but it has since evolved to address a broad spectrum of problems across various fields including finance, engineering, and research.

Random Sampling and Statistical Experimentation

At the heart of Monte Carlo simulations is the concept of random sampling from a probability distribution to compute results. This method does not seek a singular precise answer but rather a probability distribution of possible outcomes. By performing a large number of trials with random variables, these simulations mimic the real-life fluctuations and uncertainties inherent in complex systems.

Role of Randomness and Probability Distributions in Simulations

Monte Carlo simulations leverage the power of probability distributions to model potential scenarios in processes where exact outcomes cannot be determined due to uncertainty. Each simulation iteration uses randomly generated values that follow a specific statistical distribution to model different outcomes. This method allows analysts to quantify and visualize the probability of different scenarios occurring.

The strength of Monte Carlo simulations lies in the insight they offer into potential risks. They allow modelers to see into the probabilistic "what-if" scenarios that more closely mimic real-world conditions.

Monte Carlo Simulations in Tokenomics

Monte Carlo simulations are instrumental tool for token engineers. They're so useful due to their ability to model emergent behaviors. Here are some key areas where these simulations are applied:

Pricing and Valuation of Tokens

Determining the value of a new token can be challenging due to the volatile nature of cryptocurrency markets. Monte Carlo simulations help by modeling various market scenarios and price fluctuations over time, allowing analysts to estimate a token's potential future value under different conditions.

Assessing Market Dynamics and Investor Behavior

Cryptocurrency markets are influenced by a myriad of factors including regulatory changes, technological advancements, and shifts in investor sentiment. Monte Carlo methods allow researchers to simulate these variables in an integrated environment to see how they might impact token economics, from overall market cap fluctuations to liquidity concerns.

Assesing Possible Risks

By running a large number of simulations it’s possible to stress-test the project in multiple scenarios and identify emergent risks. This is perhaps the most important function of Monte Carlo Process, since these risks can’t be assessed any other way.

Source: How to use Monte Carlo simulation for reliability analysis?

Benefits of Using Monte Carlo Simulations

By generating a range of possible outcomes and their probabilities, Monte Carlo simulations help decision-makers in the cryptocurrency space anticipate potential futures and make informed strategic choices. This capability is invaluable for planning token launches, managing supply mechanisms, and designing marketing strategies to optimize market penetration.

Using Monte Carlo simulations, stakeholders in the tokenomics field can not only understand and mitigate risks but also explore the potential impact of different strategic decisions. This predictive power supports more robust economic models and can lead to more stable and successful token launches. 

Implementing Monte Carlo Simulations

Several tools and software packages can facilitate the implementation of Monte Carlo simulations in tokenomics. One of the most notable is cadCAD, a Python library that provides a flexible and powerful environment for simulating complex systems. 

Overview of cadCAD configuration Components

To better understand how Monte Carlo simulations work in practice, let’s take a look at the cadCAD code snippet:

sim_config = {

    'T': range(200),  # number of timesteps

    'N': 3,           # number of Monte Carlo runs

    'M': params       # model parameters

}

Explanation of Simulation Configuration Components

T: Number of Time Steps

  • Definition: The 'T' parameter in CadCAD configurations specifies the number of time steps the simulation should execute. Each time step represents one iteration of the model, during which the system is updated. That update is based on various rules defined by token engineers in other parts of the code. For example: we might assume that one iteration = one day, and define data-based functions that predict token demand on that day.

N: Number of Monte Carlo Runs

  • Definition: The 'N' parameter sets the number of Monte Carlo runs. Each run represents a complete execution of the simulation from start to finish, using potentially different random seeds for each run. This is essential for capturing variability and understanding the distribution of possible outcomes. For example, we can acknowledge that token’s price will be correlated with the broad cryptocurrency market, which acts somewhat unpredictably.

M: Model Parameters

  • Definition: The 'M' key contains the model parameters, which are variables that influence system's behavior but do not change dynamically with each time step. These parameters can be constants or distributions that are used within the policy and update functions to model the external and internal factors affecting the system.

Importance of These Components

Together, these components define the skeleton of your Monte Carlo simulation in CadCAD. The combination of multiple time steps and Monte Carlo runs allows for a comprehensive exploration of the stochastic nature of the modeled system. By varying the number of timesteps (T) and runs (N), you can adjust the depth and breadth of the exploration, respectively. The parameters (M) provide the necessary context and ensure that each simulation is realistic.

Messy graph representing Monte Carlo simulation, source: Bitcoin Monte Carlo Simulation

Conclusion

Monte Carlo simulations represent a powerful analytical tool in the arsenal of token engineers. By leveraging the principles of statistics, these simulations provide deep insights into the complex dynamics of token-based systems. This method allows for a nuanced understanding of potential future scenarios and helps with making informed decisions.

We encourage all stakeholders in the blockchain and cryptocurrency space to consider implementing Monte Carlo simulations. The insights gained from such analytical techniques can lead to more effective and resilient economic models, paving the way for the sustainable growth and success of digital currencies.

If you're looking to create a robust tokenomics model and go through institutional-grade testing please reach out to contact@nextrope.com. Our team is ready to help you with the token engineering process and ensure your project’s resilience in the long term.

FAQ

What is a Monte Carlo simulation in tokenomics context?

  • It's a mathematical method that uses random sampling to predict uncertain outcomes.

What are the benefits of using Monte Carlo simulations in tokenomics?

  • These simulations help foresee potential market scenarios, aiding in strategic planning and risk management for token launches.

Why are Monte Carlo simulations unique in cryptocurrency analysis?

  • They provide probabilistic outcomes rather than fixed predictions, effectively simulating real-world market variability and risk.