Amidst the prolonged crypto bear market, the NFT market has also experienced a massive decline since last year. NFT collections’ value has dropped, and interest in the ecosystem has also wavered.
According to data from CryptoSlam, the NFT market sales volume dropped by 34.70% in the past 30 days. While there are more NFT sellers, the number of NFT buyers dropped by 24.90% in the same period.
As the market eagerly anticipates the next bull market, these are the top NFT collections that could possibly survive into the future.
Bored Ape Yacht Club (BAYC)
Bored Ape Yacht Club is an Ethereum-based NFT collection launched by Yuga Labs, a NFT developing company. Comprising 10,000 NFTs, BAYC holders enjoy exclusive benefits, perks, and priority in other Yuga Labs projects. CoinMarketCap’s data show that BAYC traded 1,246 ETH in the past 24 hours and has a market cap of 245,183 ETH.
Mutant Ape Yacht Club (MAYC)
Mutant Ape Yacht Club is a 20,000 NFT collection featuring ape-like avatars. The project is an offshoot of the BAYC and a cheaper option for collectors looking to enter the Yuga Labs ecosystem. In the past 24 hours, the collection has recorded 409.62 ETH in transactions and an estimated market cap of 94,320 ETH.
CryptoPunks
CryptoPunks is a blue-chip NFT and one of the first to kickstart the NFT frenzy. NFTs within the collection have raked in 6-figure sales and are considered a safe-haven asset. Even though the NFT market is in a downturn, at press time, the collection saw a 150% increase in its 24-hour trade volume. CryptoPunks has a market cap of 500,046 ETH.
Dreadfulz
Dreadfulz is a 7,777-piece NFT collection built on the Ethereum blockchain. Despite bearish market conditions, the collection is one of the few to have recorded a significant uptick in price value, according to CoinMarketCap’s data. The collection has an estimated cap of 76.21 ETH.
DeGods
DeGods is an Ethereum-based collection of 10,000 NFTs. The collection is a profile picture-type NFT featuring different attributes created using an algorithm. The collection has a total market cap of 29,233 ETH.
Disclaimer: The views and opinions and all the information shared in this price prediction are published in good faith. Readers must do their research and due diligence. Any action taken by the reader is strictly at their own risk. Coin Edition and its affiliates will not be liable for direct or indirect damage or loss.
