The Top Ten NFTs Under $500

Everyone loves a bargain, so which are the best NFTs under $500? Let’s take a look and see if there are any underpriced collections where you might be able to make some future gains, or secure useful holder benefits.

<h2 id="momoguro:-holoself“>Momoguro: Holoself

A new project that dropped its first NFTs last month, Momoguro is produced by the Emmy-winning animation studio BaoBab Studios, which has a highly credentialed team, and is moving into web3.

This project is creating a storytelling RPG called Momoguro: Legends of Uno, which will involve collecting and trading NFT items in its gameplay. The Holoself NFTs are a collection of 8,888 avatars that act as a personal account in the game, tracking player progress and in-game assets, and becoming part of the unfolding storyline.

The Momoguro team has also stated that implementing a facility to rent out Holoself NFTs to other players is a “high priority”. If the game takes off, then Holoself avatars, which currently have a floor price around 0.12 ETH, could perhaps generate income through renting, although of course, there are no guarantees about how the project will develop.

<h2 id="distortion-ordinal-claim-pass“>Distortion Ordinal Claim Pass

If you’re interested in Bitcoin Ordinals, then you may want to pick up a Distortion Ordinal Claim Pass. These Claim Passes are Ethereum NFTs, but if you hold one, then you can go to creator Nullish’s website and follow the instructions there to exchange it for a Bitcoin Ordinal.

In the world of Ordinals, earlier inscriptions are considered potentially more collectible than later inscriptions (although it depends on the item), and the Ordinals linked with these Claim Passes are relatively early, in the 38,949 to 44,016 range. As Claim Passes are exchanged for Ordinals, the remaining supply goes down, and it’s currently at 757 from a starting supply of 1,111.

Claimants also receive an inscribed collectible sat (meaning an early satoshi dug up by and inscribed on by Nullish), and access to an airdrop from an upcoming new project called Uncommon Patterns. The floor on Claim Passes is currently around 0.26 ETH.

<h2 id="ledger-market-pass—genesis-edition“>Ledger Market Pass – Genesis Edition

These utility NFTs have seen a big drop in price, falling from an average sales price last August of close to 0.6 ETH, to a current floor price a little over 0.1 ETH. However, this is not out of line with the wider NFT market, and we should be looking to pick up decent items while they’re underpriced.

The case for Ledger Market Passes being underpriced, rather than down-and-out, is that they’re the product of leading hardware wallet manufacturer Ledger, a company likely to remain central as crypto and web3 continue to build, and to be around when markets flip decidedly bullish.

What’s more, as the Ledger Market Pass provides utility (such as access to NFT drops), then it can pick up value if Ledger announces an attention-grabbing project. Note that Ledger Market Passes were minted with the promise of a special edition hardware wallet claimable by holders, but the NFT to make that claim has already been airdropped. If you want to get hold of that NFT (to get the hardware wallet), it’s called a Ledger Market Black-on-Black Nano X, and the floor price is currently 0.07 ETH.

<h2 id="ravendale-dream-catcher-(walt’s-vault)“>Ravendale Dream Catcher (Walt’s Vault)

A slightly mysterious upcoming drop is Walt’s Vault, which has a black and white, vintage Disney style, and is slowly building anticipation. Remember, NFTs often trade on a sense of the unknown, and especially on excitement for products that haven’t been released yet.

Walt’s Vault is the work of an artist called Cohl, and, prior to the main mint (launch date and details are still unconfirmed), a collection of 928 Ravendale Dream Catcher NFTs have been released. The expectation is that holding a Dream Catcher will grant access to the main Walt’s Vault mint, and these items are currently available for just under 0.3 ETH.

<h2 id="deadfellaz“>Deadfellaz

If you want to pick up an early PFP that’s very famous within the NFT world, it might be a good idea to take a look at Deadfellaz. Launched back in August 2021, this is a collection of 10,000 cute, undead characters that has several spin-offs and partnerships.

It was produced by two creators, Betty and Psych (who are a married couple), of whom Betty in particular is an influential voice in the NFT space. Deadfellaz had a floor price over 4 ETH in February last year, but is now sitting at just under 0.35 ETH. That actually takes us over our $500 budget, but a project this well-respected can’t be overlooked at that price.

<h2 id="genuine-undead“>Genuine Undead

If you’re into zombies, then as well as Deadfellaz, you should cast an eye over Genuine Undead. This project is newer, launching in August 2022 as a free mint, and then riding a wave of hype up to a floor price around 0.75 ETH by October.

The atmosphere around the project has calmed now, and it sits at a floor price around an affordable 0.18 ETH. It still looks interesting as it gathered an enthusiastic community and, being relatively low priced now, has room to move upwards again in better conditions.

The PFPs themselves use a pixel art style (the kind of aesthetic that has a lot of fans among NFT collectors), and though you might rightly observe that Genuine Undead NFTs don’t seem to actually do anything, keep in mind that NFT markets are far from rational.

<h2 id="ether-diamonds“>Ether Diamonds

The NFT world revolves around communities, rumors, and getting a handle on what’s likely to generate excitement. Sometimes you find information that’s useful, and sometimes the information you thought was useful turns out to be unreliable, but on the whole, it’s good to have access to forums where people are focused on discussion and pooling information.

One friendly NFT community is the Diamond NFT Supercommunity, which has been operating since 2021, remaining active through the highs and lows. You can gain access to the community Discord by holding an Ether Diamond NFT, which acts like a membership pass, and of which there are only 300, with a current floor price of 0.115 ETH.

<h2 id="tiny-dinos“>Tiny Dinos

Looking back over the 2022 NFT landscape, there are projects that gradually faded away as the bear market ground on, and some will never return. There are a few, though, that may not currently occupy the spotlight, but are still around, have unique features, and could pull off a future resurgence.

A project that fits that description is Tiny Dinos. It’s a super-simple collection of pixelated dinosaurs, and it caught the mood when it minted last summer. It’s defining characteristics were using CC0 licensing, minting for free, and having no roadmap or Discord, all of which pretty much encapsulates the stripped down approach that was prevalent at the time.

Also, Tiny Dinos was one of the first omnichain NFTs, meaning the collection minted across several blockchains. Tiny Dinos attracted an enthusiastic community, and items can currently be picked up off the floor for around 0.08 ETH. Earlier this year, the project inscribed 50 Tiny Dinos as Bitcoin Ordinals, all within the 9,215 to 56,960 inscription range.

<h2 id="the-bastards“>The Bastards

Promising “sensual animation, scuffed storytelling and deranged universe building”, The Bastards had gained a substantial following by the time it minted on Solana last month, but came across as an unknown quantity, and perhaps risky to buy into.

It’s still in the early stages of development, but is starting to look more substantial after dropping a Medium article outlining its plans, which are centered around the creation of a web3 animation studio.

There are ambitions to bridge between physical comics and digital collectibles, and the team is, according to the article, expanding in size as it looks at building IP and becoming a sustainable brand.

What attracted a community in the first place were the project’s animation and illustrations, and the general theme: a cartoonishly gritty Wild West setting, incorporating sci-fi and fantasy along with cowboys and sheriffs. While this is still a very speculative hold, prices rose from a mint price of 2.88 SOL to a floor currently over 7 SOL, and it looks active and ambitious.

<h2 id="chilled-kongs“>Chilled Kongs

The Cardano NFT ecosystem is a great place to pick up bargains. It doesn’t have the volume of Ethereum marketplaces, but there’s plenty of price movement, and if you want to play with lower initial costs, it’s a good place to get familiar with. Most importantly, it has some attractive projects, and a well-supported one is Chilled Kongs.

This is an 8,888 item PFP collection that first minted in December 2021, and has gone on to become one of the top Cardano NFT projects, with a loyal community and an active team. The current floor price is under 700 ADA, and the project also just launched a companion collection called Magic Kongs, which has a floor price of 200 ADA, meaning you could actually buy one of each and still remain within budget.