5 Weird NFT Ideas & Examples to Get Inspired

NFTs have the potential to disrupt many industries, including real estate and sports betting. This article will highlight some of the weirdest NFT ideas that you should get inspired by.

Crypto-Puppies

You can buy “Crypto-Puppies” on the Ethereum blockchain for 0.00 ether each (about $0.03). These pups have unique names and personalities, and they even have their own trading cards! You can breed them with other dogs in order to create a new pup with different traits or just keep them as pets.

Bored Ape Yacht Club

Imagine a club where people pay to watch an ape do something interesting. It could be anything from playing with balls or doing tricks on a skateboard to painting paintings or getting high.

Tom Brady’s Signature

Tom Brady’s signature, which is a token, can be used to purchase his autograph on memorabilia. Tom Brady himself signed the token at the 2018 Super Bowl LIII halftime show. This idea was first introduced in 2018 and has been gaining popularity since then.

Burning Banksy

Burning Banksy is a strange idea that has been gaining traction in recent years. The idea is to burn Banksy’s art and collect the ashes. Burning Banksy has been a weird idea for quite some time now, but it seems like this strange trend is getting more popular. 

Coca-Cola’s NFT

Coca Cola auctioned a series of loot boxes – each purchase came with a fully stocked Coca-Cola fridge. The company hosted a ‘can-top’ party with interactive activities such as music, Q&A session, and giveaways. It was a 72 hour long auction that made over $575,000.

What is rarity, and when does it make sense to mint an NFT?

There are NFT collections that get released and you can do what’s called “minting”.

Minting means buying the NFT directly from the creator on their website, not on the secondary market like OpenSea.

You can mint these specific NFTs and, there’s different variations making some rarer than others.

Within a specific NFT collection, there’s a rarity score, which takes in all of those types of traits, and it gives it a specific rarity score.

Now, the rarer the NFT, the higher the resale price on the marketplace.

So what’s the significance of rarity?

Well, think of it like basketball cards or Pokemon cards, or other collectibles. Rare ones sell for a lot more.

To get started, first go to a website called “Metamask”. Metamask is a browser extension, and this is going to be your wallet that you’re going to use to purchase NFTs.

It’s also important we talk about the floor price. The floor price is the lowest possible price that these are selling for right now. A real opportunity is to mint directly from the creator for less than the floor price, then flip the NFT for floor price or higher. Or just hold and watch it (potentially) appreciate.

4 strategies to profit from flipping NFTs

1. Go on OpenSea and look for NFTs listed for less than the floor price. It could be a seller trying to get money fast.
Click on a collection and click on “Buy now” to see asking prices.
Compare to floor prices.
Make sure to compare attributes (i.e. obviously, an NFT with more rare attributes will sell for more).

2. Look for wild price fluctuations. For example, Krazy Koalas NFT has fluctuated in price during a recent 48 hour period from 0.06 Eth to 0.15 Eth.
Watch a collection over the period of a few days, and see if you can find patterns like time of the day, when it is more advantageous to buy or sell. 
Click on the Discord community to see what is selling, how often it’s selling, and how much it is selling for. 

3. Look for rare traits in a collection, and buy the cheapest ones, thus raising the floor price for those traits. Then relist at the new floor price.
Example, if the NFT collection is called BigDogs, and the rare trait is a crown, and there are 
8 BigDogs with crowns for sale, 2 cheapest ones being 0.18 Eth and 0.2 Eth, and all the others are 0.3 Eth and above, buy the 2 cheapest ones and then list them for 0.3 Eth or just a bit below. 

4. Look at the mint price on a website of a new-ish project, and compare to the floor price on OpenSea. 
Sometimes the mint price is a lot lower than the floor price. In these cases, it may be possible to mint an NFT on the website, and immediately sell it for a profit.

Disclaimer: NFT investing and flipping involves significant risk. Do your own due diligence. Nothing here is meant as financial advice.