When analyzing NFT projects and identifying the alpha, blue chip metrics and holder info are two essential dimensions people look into. In this article, we will introduce two new features that NFTGo recently updated, including blue chip metrics and holder trends. Let’s dive in.
A blue chip collection refers to a project that is mature, stable, and widely recognized, and will likely maintain a high value in the future. Projects designated as Blue-Chip tend to be worthy of long-term holding.
Currently, we consider 18 collections to be Blue-Chip, including CryptoPunks, Bored Ape Yacht Club, Mutant Ape Yacht Club, CLONE X - X TAKASHI MURAKAMI, Meebits, The Sandbox LAND, Doodles, Cool Cats NFT, CyberKongz, World of Women, Decentraland LAND, VeeFriends, Azuki, Bored Ape Kennel Club, PROOF Collective, Nouns, Moonbirds, Otherdeed (The list will be adjusted monthly).
The criteria for NFTGo to screen blue chip projects are:
Having a snapshot of Blue Chip collections is an easy way for NFT investors to understand the current state of the market. Similar to how most cryptocurrencies rise and fall with BTC, most NFT collections may rise and fall with Blue Chip Collections. Secondly, NFTGo aims to provide an in-depth analysis of people who hold a collection. By adding blue chip metrics besides whale metrics, users can have more data dimensions for reference while making investment decisions.
You can find more info regarding blue chip metrics via our product docs.
NFTGo has created the Blue-Chip Index and added it to the Analytics/Overview Page. The Blue-Chip Index is calculated by weighting the market cap of Blue-Chip collections to reflect the performance of the blue chip NFTs.
We have added new metrics for Blue Chip collections under the Analytics/Top Collection page, including the number and percentage change of blue chip holders, and the blue chip ratio for each collection. Now you can view these data for each collection all in one place.
Note: click “Customize” to display blue chip metrics in the list.
We have highlighted each blue-chip collection so you can easily recognize them.
By calculating the number of “Blue Chip Holders” and “Whales” in a given collection we can hypothesize whether or not the collection has the potential to become blue-chip in the near future. To dig further, you can also see a list of mutual holders of blue chip collections and the selected collection.
Let’s say you are planning to buy an NFT from either FEWOCiOUS x FewoWorld or Kaiju Mutants NFT and wondering which collection you should choose. Based on the basic info, we can tell that both collections have a similar amount of holders and floor price. By comparing the percentages of blue chip holders and whales, you will notice that FEWOCiOUS x FewoWorld has more blue chip holders (33.03%) and whales (1.81%). Besides, the number of blue chip holders from CLONE X, Cool Cats, and The Sandbox are higher in FEWOCiOUS x FewoWorld than in Kaiju Mutants NFT. Therefore, FEWOCiOUS x FewoWorld has a much higher potential to become the next blue chip collection.
Note: the above example does not constitute any investment advice.
First and foremost we enlarged our holder graphs so that they’re easier to read. Secondly, we added blue chip holders to the graphs. Now you can see whales, blue chip holders, and standard holders all together.
We also converted the pie charts of Holding Amount/Period Distribution into line graphs. This enables our users to adjust their time range and identify the changes in the trends. For example, if a project has many long-term holders and the trend keeps increasing, then it probably means that people are convinced by its long-term values.
You can also see the ranking of Top Holders, Whales, and Blue Chip Holders at the bottom of the holder page. Tracking certain types of holders helps you evaluate whether a project is worth investing in and may also minimize your investment risk and increase your potential profits.
NFTGo is committed to serving the Web3 community as transparently and effectively as possible. Our development team is constantly working on ways to improve our data and empower our partners. We encourage you to join our discord and give us feedback about all updates and suggest changes to help us better serve you.