Published on: 20/02/2023
NFTs rally after crypto winter, ten best-selling NFTs soar in value
Several non-fungible tokens (NFTs) have begun to climb back up at the beginning of 2023 following the crypto winter. The ten top-selling NFTs saw a brief rally, increasing in value in the past week.
NFTs rose to prominence in 2021 as flexible media-based tokens, verified and made unreplicable by blockchain technology. Their value soared in January 2022, reaching around $17 billion in trade volume.
However, the growth was followed by a sharp fall. With multiple crypto firms and currencies collapsing, the Web3 technology world saw a massive decline in late 2022. The market suffered alongside the rest of the industry, falling by 97 percent to a mere $466 million in September 2022.
Despite these setbacks, NFTs have turned toward recovery in recent weeks. Late into January, the asset witnessed a 16.39 percent increase in sales. This was over 40 percent from the previous week, a significant growth in the industry.
Trading continues to grow as ten different collections see a resurgence in value. Some of these were around from the beginning of the rise of NFTs in 2021, such as the Bored Ape Yacht Club and the Bored Ape Kennel Club.
Others came into prominence more recently, with Moonbirds and Azuki releasing sometime last year.
Top ten NFTs last week
In the past week, some of the top NFTs have been trading for over 5,000 Ethereum (ETH) in volume, attaining hundreds of sales.
The Mutant Ape Yacht Club sits comfortably at the top of the ranking, with around 8,261 ETH in volume on OpenSea. The collection has over 500 sales and a floor price of approximately 16.2 ETH.
As a collection from Yuga Labs, the MAYC is one of the later entries into the famous Ape NFTs series, releasing in August 2021 after other entries like the Bored Ape Kennel Club.
The second entry is Otherdeed for Otherside, another Yuga Labs entry. Otherdeed is a unique metaverse game NFT collection, with around 5,808 ETH in trading volume and a floor price of 2.0 ETH. It features colorful environments in the metaverse setting.
Bored Ape Yacht Club and the Bored Ape Kennel Club NFTs take up the next two spots. They’re the second and third Ape NFT entries from Yuga Labs, making the collections persistently popular nearly two years after their conception.
The two APE NFTs also remain quite popular in the market. They sold at 4,899 ETH in volume, with a floor price of around 76.4 ETH. The Kennel Club sold at around 5,586 ETH, with a 9.3-floor price.
Clone X NFTs come from Nike’s RTFKT studios, which are responsible for creating various NFTs for the famous sports brand. Their latest collaboration with Takashi Murakami saw a 4,792 ETH trading volume, with about 5,75 ETH in floor price.
The next few additions include Azuki, Checks (both the VV edition and the VV originals), Beanz, Opepen and Moonbirds. On the lowest end, Moonbirds traded at around 5,011 ETH in volume, with 7.16 ETH as a floor price.
Many other collections saw rapid increases, such as the Checks VV Edition, which reached 87 percent in the past 24 hours. Others remain strong but declined in value, like Moonbirds, which depreciated by around 60 percent. Despite the last few entries changing rapidly, these entries have also hovered consistently in the top ten.
