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Investors value assets that solve real-world problems. Many blockchain projects are based on pure speculation and don’t offer any utility. Certain NFT projects have proven that they’re more than just pixellated JPEG files. Our team of analysts researched the best utility NFTs that offer investors rewards and a range of other benefits.
Our detailed reviews below feature NFTs with the best utility, as well as explaining how NFTs can have several use cases.
The 8 Best Utility NFT Projects for 2022
Below is a snapshot of the best utility NFT projects before we take a deep dive into their background.
- Tamadoge – Overall Best Utility NFT Project with a Deflationary Token
- Battle Infinity – Global NFT-Based Metaverse Gaming Platform
- Lucky Block – NFT Competition Platform Rewarding Holders With Seven Figure Prizes
- Silks – Blockchain Project Mimicking Real-World Horse Racing
- Cocky – NFT Platform Offering Access to Global Music Events
- Real Estate Investment Club – Top NFT Real Estate Education Platform
- NFT Academy – Popular Platform Providing NFT Creation Tuition
- Fitness Fiends – Fitness NFT Project Providing Access to Real-World Gyms
Reviewing the Top Utility NFTs
Let’s get into the detailed reviews of the top utility NFTs.
1. Tamadoge – Overall Best Utility NFT Project with a Deflationary Token
One of the key reasons that Tamadoge is a utility NFT is that it offers investors rewards. Investors using the platform receive TAMA tokens for nurturing their digital pets. The leaderboard ranks investors according to their ability to groom their pets into adulthood.
Investors buy NFTs to exercise, feed and breed digital pets — each possesses certain strengths and weaknesses. As the pets grow into adults, investors use them to battle other players to collect TAMA tokens.
Further developments to this platform include P2E Arcade games and an augmented reality app. The app will make the interaction between the player and the pet more realistic.
The other good aspect of Tamadoge is its deflationary token. The developers will burn 5% of the transaction fees in the pet store purchases. TAMA’s supply is capped at 2 billion tokens, which will decrease significantly over time. That will make the coin more difficult to own.
Tamadoge proved to be a successful NFT project from the beginning as its crypto presale sold out ahead of schedule. It was scheduled to last until the end of Q4 2022, but overwhelming demand sold out the TAMA tokens in less than two months.
Investors who missed out on the presale now have a chance to buy TAMA coins on OKX, a tier one CEX. Investors unable to access that centralized exchange can opt for the OKX decentralized exchange.
Staying up to date with this NFT project’s latest developments is best achieved via the Tamadoge Telegram channel (admins will not DM you first).
2. Battle Infinity – Global Metaverse Gaming Platform
Battle Infinity is one of the top utility NFTs because it provides investors access to six platforms to earn rewards. Players earn rewards by building up teams and winning competitions, monetizing land and staking their IBAT tokens.
To enter the IBAT Premier League, players needs NFT passes. They’re available in the NFT Marketplace and are considered assets as they have a value attached. Players can also use their NFTs to stylize their avatars with fashion accessories and unique hairstyles.
It’s in the Battle Arena that players use virtual-reality headsets to explore the Metaverse and interact with other players in real time. Players can also earn IBAT tokens by staking them. Three ways to stake coins are solo, duo and crates.
Battle Infinity rewards highly active players with IBAT tokens from the global staking pool. Players can exchange their in-game currency for fiat currency on Battle Swap, the platform’s decentralized exchange.
IBAT proved it was one of the best cryptos to buy during its presale, which sold out within 25 days but was scheduled for 90 days. An exchange listing on PancakeSwap followed and resulted in IBAT surging 700% from its presale price.
More developments will follow, and investors can stay in touch by subscribing to the Battle Infinity Telegram channel.
3. Lucky Block – NFT Competition Platform Rewarding Major Prizes
Lucky Block began as a platform offering luxury watches and holidays to draw winners but quickly progressed to an NFT competition platform. It’s upped the stakes by offering main prizes such as a Lamborghini, $1 million in Bitcoin and a home worth $1 million.
To enter draws, investors need to own a Lucky Block NFT. The Platinum Rollers Club NFT is limited to 10,000 NFTs, with some being limited editions. Even if participants don’t win the major prizes, Lucky Block will continue to provide daily rewards as long as holders have their NFTs in their wallets.
NFTs aren’t the only assets offering investors rewards on Lucky Block. The native token, LBLOCK, surged more than 1,100% when it started trading on PancakeSwap. It’s proved to be one of the cryptos with the most upside with its 65x bull run earlier in 2022, and is now undervalued with more exchange listings scheduled in the near future.
To date, LBLOCK has been listed on LBank, Uniswap, MEXC and Gate.io. Lucky Block’s development of an ERC-20 token, known as LBLOCK V2, has simplified LBLOCK’s exchange listings. It has enabled day traders to avoid a 12% sales tax, which applies to the BEP-20 V1 token (listed on PancakeSwap).
Another key development with this NFT platform is its token burn. Lucky Block CEO Scott Ryder announced that a monthly 1% token burn would commence on 30 September 2022. The aim of the burn was to increase the token’s value.
4. Silks – Blockchain Project Mimicking Real-World Horse Racing
Investors who gain value from real-world horse racing will enjoy Silks. The creators wanted to mimic real-world thoroughbreds and did so by tracking the births of horses and relaying them to a digital platform.
Silks also tracks the progress of each horse to ensure its physical appearance and capabilities are reflected on the platform. A Silks horse is a derivative NFT linked to a real thoroughbred racehorse, which investors can potentially profit from if the horse wins races.
Rewards are offered with the platform’s native token, $STT. Players can earn rewards from Silks in several ways. One of them is by breeding horses and then grooming them to become racehorses. Once the horse’s value has increased due to its stature, investors can sell the horse for a profit.
Another way to earn is by buying land and transforming it into horse farms. By buying NFTs, investors can add infrastructure to their land and make it more valuable. Investors can sell the land or rent it.
5. Cocky – NFT Platform Offering Access to Global Music Events
NFT utility provides investors value, and Cocky does that by offering exclusive access to global music events. Cocky is an upcoming NFT project for investors wishing to attend music festivals virtually and in person. Live stream access is available to NFT holders unable to attend events in person.
Cocky enables NFT holders to earn mutations, which are a stamp in the NFT’s background. That enables holders to write their stories and increase the NFTs’ rarity.
Registered attendees are automatically entered into a draw to receive exclusive VIP benefits. The platform offers silver, gold and black can lids, each representing the benefits holders receive at Cocky events. The black can is the rarest, and its holder receives VIP benefits indefinitely.
Cocky’s NFT collection consists of more than 10,000 assets, with 51 skin variations on the cans. A random tier-based system is allocated during minting, enabling investors to unlock various rewards such as accommodation, bar tabs, transport and exclusive merchandise.
This platform’s goal is to make its events bigger and better and eventually compete with festivals such as Coachella. For those events, V-VIP tickets will be reserved for NFT holders.
6. Real Estate Investment Club – Top NFT Real Estate Education Platform
Real Estate Investment Club (REIC) is another promising NFT project to invest in for individuals wanting to learn real estate and network with like-minded individuals. Owning an REIC NFT entitles holders to memberships providing access to an elite team and a community providing support regarding real estate.
Members can attend private events globally and receive education about real estate, crypto and blockchain. REIC also offers access to in-house developments and off-market deals globally. Eventually, the platform will integrate into the Metaverse and function as real-world real estate, integrating monetization opportunities into the network.
Apart from having access to the Digital Asset Property Group (DAPG), NFT holders stand a chance of receiving giveaways such as Ethereum mortgage payments, consultations with finance and real estate professionals, and invites to seminars.
7. NFT Academy – Popular Platform Providing NFT Creation Tuition
NFT Academy offers one of the best utility NFTs as it enables investors to fast-track their NFT tuition. Investors can learn how to build, market, grow and sell their own NFT projects.
Elite NFT Academy Pass holders learn how to build tools and an ecosystem to start a Web3.0 agency. The program offered by the NFT Academy provides a step-by-step guide on how to launch an NFT project.
Only 3,000 Elite Passes are available, consisting of multiple 500 token supply drops. This platform equips students with the resources and education to develop a successful NFT project that could be sold for generous amounts.
Investors holding 3x Elite Passes are granted access to the private circle. It’s ideal for the most committed students eager to learn advanced NFT development and marketing. Some of the perks of joining the Inner Circle are access to unlimited groups and 4+ weekly hours of live training.
Another perk is access to a private chat to ask experts questions. All NFT holders can network with other individuals to swap ideas and potentially form partnerships. NFT Academy offers a job board, enabling its NFT holders to post free job ads to find team members for help with their projects.
8. Fitness Fiends – Fitness NFT Project Providing Access to Real-World Gyms
Considering the fitness industry has drastically grown, it’s easy to see why projects such as Fitness Fiends are one of the best utility NFTs. The platform consists of 6,666 fitness fiends and provides NFT holders various real-world benefits.
One of the main benefits is free membership to a Fitness Fiends London-based gym. NFT holders unable to train at the gym will receive benefits such as discounts at Fitness Fiends stores, attendance to launch events and Metaverse access to attend fitness classes as a fiend.
Each fiend has unique facial expressions and trains on specific equipment. The fiends will be available to purchase from 28 October 2022 to the general public, but investors can get better prices during the presale, which is currently on now and access is granted through a light workout.
Fitness Fiend plans to open multiple gyms in 2023 and beyond, as well as introduce a protein shake.
What are Utility NFTs?
The best NFTs to buy and hold for the long term ones that provide real world utility, also referred to as a use case. An NFT that makes people’s lives easier and solves real-world problems has utility. It’s an asset that is likely to grow in value as more people discover its use case and own it.
The utility of NFTs usually determines the asset’s value. The bigger problem that it solves, the more valuable it is deemed. In some cases, certain NFTs derive their value from offering rewards.
Tamadoge is an NFT ecosystem that enables players to earn rewards while entertaining themselves. Although Tamadoge might now solve a real-world problem, it’s a utility NFT because the TAMA tokens offered enable players to exchange them for fiat currencies.
One of the other NFT utility examples we reviewed was Fitness Fiends. By owning a Fitness Fiends NFT, investors get access to real-world gyms and receive benefits such as discounts and access to exclusive events.
Assets that don’t have NFT utility are usually just digital artwork not used for any purpose – they often struggle to hold their value. During the 2021 NFT hype and retail mania, investors bought .jpeg rocks for seven figure sums – today only worth a fraction of that.
How Can NFTs Offer Utility?
The best utility NFTs offer value to investors in various ways.
Many crypto games require players to buy NFTs to advance. A game such as Silks enables players to buy racehorses and infrastructure to develop land. If the horse wins races or the land’s value appreciates due to embellishments, it can be sold for a profit.
Battle Infinity requires players to own NFT passes to enter the IBAT Premier League, where the main battles take place. To build a team, players need to buy NFTs.
The best long term crypto projects offer assets that appreciate in value. Some are purely speculative, but special edition NFTs and rare ones can increase in value significantly.
Celebrity endorsements and ownership of NFTs have helped numerous projects to increase their assets’ value. One of the most popular NFT projects is Bored Ape Yacht Club (BAYC). Its NFTs don’t really solve any real-world problem or provide special benefits, but some BAYC NFTs have sold for millions of dollars due to celebrity involvement.
Some crypto investors earn passive income on cryptocurrencies, and NFT owners can do the same with their assets. One way to earn from digital land is by increasing its value and then selling it. The other way is to rent it.
Renting digital land is a new concept and may be obscure to many investors. But big brands such as Samsung, Addidas and JP Morgan have invested in virtual land to advertise their brands. Brand awareness can be extended to the virtual world since the Metaverse’s user base is drastically expanding.
Solving Real-World Problems
An asset that makes life more convenient by solving problems is valuable. A platform such as the NFT Academy teaches students how to create their own NFT project, which they can sell if successful.
Cocky provides NFT holders access to music festivals globally. And individuals unable to attend live events get access via live streaming. Cocky NFT investors will also get exclusive VIP treatment when the platform organizes its own massive festivals.
The best altcoins enable peer-to-peer transacting. Several of the top altcoins are also accepted at major corporations as a payment method for goods and services. Some NFTs also provide transacting solutions, enabling holders to exchange them for cinema tickets or even pay for music subscriptions.
The best NFT utility stems from converting NFTs into tangible assets or real-world services. That can only be accomplished if NFTs have value and can be used for transacting.
Deciding if Utility NFTs are a Good Investment
Utility NFTs provide investors with several benefits such as capital appreciation, peer-to-peer transacting, passive income, real-world utility and appreciation. It’s up to each investor to determine his/her investment goals. Key points to consider would be the ideal returns and a time frame, as well as risk.
The next step investors should consider is analyzing NFT features, benefits and risks. Once all the elements have been established, investors should compare their goals to NFT offerings. If the two coincide, then those investors will deem NFTs to be a good investment.
While numerous crypto projects wonder how to add utility to an NFT, Tamadoge figured it out during development. Its token presale sold out in less than two months. Besides providing players with entertainment on its play to earn game platform, Tamadoge offers TAMA tokens as rewards, which can be exchanged for fiat currencies.
More developments are coming to this platform such as the P2E Arcade Game, the augmented reality app and a token burn, which should increase the coin’s value. Investors who missed Tamadoge’s presale can buy tokens now on OKX.
What is a utility NFT?
A utility NFT is a digital asset providing investors with certain benefits and clear use cases. Some NFT utility ideas have included buying movie tickets with NFTs, using NFTs to unlock a gym membership or attend concerts, and more. Although utility NFTs are still virtual and intangible, they can be exchanged for tangible goods or services.
Investors deem assets that solve real-world problems as valuable, and utility NFTs are problem solvers.
Which NFT has the best utility?
Our review team found new NFT project Tamadoge to provide the best utility. The key benefit of using the platform is earning TAMA token rewards, which can be exchanged for fiat currencies. The Tamadoge NFT pets game provides players entertainment, but investors also benefit from TAMA’s token burn and its listing on tier one exchanges including OKX.
Tamadoge had an extremely successful presale, selling out in under two months. That showed investors’ confidence in the project’s long term utility.