What is Crypto Skulls NFT? Does it make a good investment?

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 What is Crypto Skulls NFT? Does it make a good investment?
Image source: Pixabay.com

Highlights

  • Like CryptoPunks, which is a project by Larva Labs, Crypto Skulls are selling as NFTs
  • NFTs have their own dedicated exchange platforms, including OpenSea, which is a multi-billion-dollar project
  • Crypto Skulls will also have its own blockchain game title Gold of Skulls, with a native token

Non-fungible tokens (NFTs) are not only competing with crypto assets like Bitcoin and Shiba Inu, but they are also outshining them.

Multiple NFTs were sold for millions of dollars each in 2021. The list includes Beeple’s digital artworks, CryptoPunks, even real estate in the virtual world of blockchain-based games. NFTs are single items, with the record of ownership on distributed ledger. Every NFT represents a unique digital asset, at least the creators and platforms so promise.

The latest addition to the NFT world is Crypto Skulls. Let’s find out more.

What is CryptoSkulls NFT?

Crypto skulls NFT are basically digital, animated skulls, but with what the platform calls ‘Uniqueness Index’.

The CryptoSkulls NFT project consists of 10,000 such collectibles. To make each of the skull a unique artwork, they can have different colors, shape and add-ons. The project also claims that 10 of these NFT characters are hand drawn, and as such they have the highest Uniqueness Index of 1. These 10 images are named ‘Skull Lords’ by the project for their ‘rarity’.

Also read: The top crypto gainers of 2021, and a couple of underperformers

The Gold of Skulls game

CryptoSkulls project has planned a game titled ‘Gold of Skulls’. The NFTs of the project are said to be the playable token within this game.

Gold of Skulls can also have its own Ethereum-based native token. Blockchain games like Axie Infinity have their own NFT collectibles and tokens, and a few of these projects returned better as compared to high market cap cryptos like Bitcoin and Ether.

Return of Bitcoin and Axie Infinity in 2021

Data provided by CoinMarketCap.com

Where to buy Crypto Skulls NFT?

Crypto Skulls NFTs are available on OpenSea and Rarible.

Both are leading NFT marketplaces, which also provide services to users to create and upload new NFT assets. The price of every CryptoSkulls NFT may vary depending on its uniqueness and how enthusiasts find value in their rare attributes.

Also read: Top cryptos by market cap that ruled in 2021

Are Crypto Skulls NFT a good buy?

The NFTs of the project are ERC-721 tokens, which use Ethereum’s blockchain services. A few other projects like CryptoPunks and Bored Apes also use Ethereum’s services, and both have sold their NFTs at high prices in 2021.

Also read: Crypto crash 2022: Is it all bearish in cryptocurrencies?

Crypto Skulls is a relatively newer phenomenon in the NFT market, and the price of these collectibles may rise in the future depending on how the Gold of Skulls game performs.

Bottom line

NFTs sell for high prices, but not every such asset may be that valuable, experts warn. NFTs of projects like CryptoPunks and Bored Apes have gained traction. This may lead to many new entrants. Buyers must exercise caution before picking any NFT. The Crypto Skulls NFT project’s viability depends on how the game performs in the longer run. But if they do perform well, they may even outshine returns of crypto assets like Bitcoin.

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