Check out seven popular utility NFTs: backed by well-funded crypto projects, many have seen significant price increases
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Check out seven popular utility NFTs: backed by well-funded crypto projects, many have seen significant price increases
These NFTs are backed by high-funding projects, and most have not yet launched their tokens.
Navigating Web3 tides with focused insightsAuthor: Nancy, PANews
For many airdrop hunters, simple "airdrop farming" is no longer cost-effective. Beyond tedious tasks and uncertain time and financial costs, participants also face the risk of being "witch-doctored." In contrast, NFT farming has become a more attractive airdrop strategy. As more crypto projects target NFT holders for airdrops—especially given the substantial returns from several successful cases—market demand for utility NFTs with potential airdrop expectations has surged, driving their floor prices upward. For project teams, using NFTs for airdrops not only serves as a low-cost marketing tool but also effectively attracts more users, increasing project visibility and热度.
This article by PANews reviews seven recently popular utility NFTs backed by well-funded projects, most of which have not yet launched tokens. From a value perspective, many of these NFTs have already received tangible utility enhancements. Fueled by airdrop expectations, several issued NFTs have seen significant price increases.
Sign: Seeing Signs NFT
Seeing Signs NFT is the official NFT of Sign, a blockchain infrastructure project for token distribution. In January, Sign launched the minting event for Seeing Signs NFT, later burning NFTs involved in unfair minting and announcing it would buy back some NFTs to distribute to the community.
OpenSea data shows that as of February 21, the floor price of Seeing Signs NFT exceeded 2 ETH, up over 900% from its minting price (0.2 ETH), with total trading volume reaching approximately 362 ETH. Notably, the floor price of Seeing Signs NFT一度 surpassed that of leading NFT project Azuki. However, Sign CEO Xin Yan emphasized that this NFT series is positioned as an exclusive community honor badge, not a public sale, and urged users not to blindly follow trends before official project signals are released.
Sign was founded in 2022 and recently announced $16 million in funding. To date, Sign has raised over $28.65 million across three funding rounds, with investors including YZi Labs, Hack VC, Amber Group, Animoca Brands, HashKey Capital, Sequoia China, Sequoia Capital, NGC Ventures, GBV Capital, and Matrixport Ventures.
Kaito AI: Kaito Genesis NFT
Kaito Genesis NFT is a 1,500-piece NFT collection launched by crypto search engine KaitoAI. The team has taken snapshots of NFT holders to allocate 15% of the airdrop pool and grant collective 50% voting rights. Currently, Kaito has launched its airdrop, with NFTs and Yaps receiving 10% of the token supply.
However, due to the airdrop size falling short of community expectations and the realization of prior bullish news, Kaito Genesis prices dropped sharply. According to the latest data from NFTPriceFloor, as of February 21, the floor price of Kaito Genesis NFT reached 2.42 ETH, up 2,320% from its minting price (0.1 ETH), though it fell over 50.4% in the past 24 hours, with total trading volume exceeding 16,000 ETH.
Kaito AI has publicly secured two funding rounds totaling $10.8 million, with a latest valuation of approximately $87.5 million. Investors include Dragonfly, Mirana Ventures, Sequoia China, Folius Ventures, Caladan, Superscrypt, and Spartan Group.
MegaETH: The Fluffle
On February 15, Ethereum L2 solution MegaETH announced the launch of its soulbound NFT series The Fluffle, with a total supply of 10,000. The whitelist price was set at 1 ETH, and benefits for NFT holders include eligibility for a future 5% token allocation. However, the sale sparked major controversy within the community, with accusations of being a disguised ICO. In response, MegaETH recently announced adjustments to The Fluffle's minting rules, adopting a random number generation (RNG) system. On February 13, MegaETH announced that 5,000 of the NFTs (minted at 1 ETH each) had sold out, raising 4,960 ETH—worth over $13.1 million.
MegaETH has raised $30 million in funding, with investors including Dragonfly, Robot Ventures, Figment Capital, Big Brain Holdings, Folius Ventures, and Vitalik Buterin.
0G Labs: One Gravity
One Gravity is the first PFP NFT series in the 0G ecosystem, technically supported by 0G. With a total supply of 1,888, it is currently in the whitelist phase.
0G is a modular AI blockchain featuring a scalable and programmable data availability (DA) layer tailored for AI dApps. 0G has secured $70 million in public funding, with investors including Hack VC, Delphi Digital, OKX Ventures, Samsung Next, Bankless Ventures, Samsung Next, Animoca Brands, Alliance DAO, and Delphi Digital.
OpenSea: Gemesis
Gemesis is a limited commemorative NFT series released by OpenSea Pro, previously available for free minting. Recently, OpenSea announced the upcoming launch of its SEA token, the OS2 open beta, and the introduction of an XP points system. After the snapshot, 49,785 Gemesis NFT holders gained early access to the OS2 platform. It is speculated that accumulating XP points may lead to token rewards. However, due to concerns that the mechanism encourages wash trading and overlooks contributions from builders, OpenSea paused its airdrop reward system.
NFTPriceFloor data shows that as of February 21, Gemesis has a floor price of 0.04 ETH, up nearly 55.9% over the past 30 days.
OpenSea is one of the leading NFT marketplaces, having raised over $420 million across five funding rounds. Its most recent Series C round valued the company at $13.3 billion with a $300 million raise, with investors including Paradigm, Tiger Global, a16z, Coatue Management, 1confirmation, Standard Crypto, Coinbase Ventures, Blockchain Capital, Animoca Brands, and Blockchain Capital.
Doodles: Doodles NFT
On February 14, the NFT project Doodles officially launched its native token $DOOD, planning issuance on the Solana chain with a total supply of 10 billion tokens—30% allocated to the Doodles community. Driven by the token launch, Doodles NFT trading volume surged during this period.
NFTPriceFloor data shows that as of February 21, Doodles' floor price was 3.71 ETH, with trading volume increasing nearly 144.2% over the past seven days.
Doodles raised $54 million at a $704 million valuation in 2022, with investors including Seven Seven Six, FTX Ventures, 10T Holdings, and Acrew Capital.
Linea: Memenomics NFT
On February 19, Linea announced the release of the Memenomics NFT at 10:00 AM Beijing Time on February 20. Inspired by the article "Memenomics: The Economy of Memes," the NFT showcases some well-known memecoins on Linea, including Foxy, CROAK by Efrogs, and Ethereum Frogs. However, the team clarified that the NFT focuses on celebrating meme culture and community spirit and is unrelated to Linea’s TGE (token generation event).
Element data shows that as of February 21, the Memenomics NFT has a floor price of 0.054 ETH, with total trading volume currently at 19 ETH.
Linea plans to launch its LINEA token in Q1 of this year and completed a witch attack audit in January, excluding over 470,000 addresses from airdrops.
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