Non-Fungible Tokens, otherwise called NFTs, took the world by storm in 2021. Following the rise of collections like BAYC and CryptoPunks, many expected the growth to spill into 2022. 2022 started on an equal note, with high trade and sales volume. User activity increased, which all pointed to a booming ecosystem.
However, 2022 ended miles differently from how it started. The crypto market shed its gain, NFT collections lost value, and there was widespread FUD. In the midst of all that, the market still saw the rise of many collections, which kept their value through the storm.
While the success of some of these collections can be linked to existing NFT collections, some rose based on the utility they offer. In usual crypto fashion, some NFT collections also emerged as ridicule to the NFT ecosystem. Guess what? They thrived, too; maybe only for a short time, but enough to catch everyone’s attention.
Here you have it, the biggest NFT drops of 2022.
Top 11 Biggest NFT drops of 2022
Many NFT projects entered the NFT market in 2022, with varying degrees of success and failure. After reviewing all the NFT drops, here is our list of the biggest NFT drops in 2022.
No other NFT collection launched the way Otherdeeds by Otherside did in 2022. The highly anticipated NFT collection launched in April via a public sale. Due to the rush on the network, the Ethereum blockchain broke down, and many users lost thousands of dollars in gas fees.
The Otherside is a gameverse built for the BAYC collection. It is a metaverse where the NFTs come to live in 3D forms. Otherdeeds are parcels of land within this metaverse. Owners of the plot of land can mine for resources, play games, and enjoy exclusive benefits. The Otherside project will eventually evolve into an MMORPG (Massively Multiplayer Online Role-Playing Game).
The NFT collection consists of 100,000 NFTs. But only 55,000 of those were made available at the public sale. The remaining 45,000 were reserved for BAYC holders and the Yuga Labs team. The NFTs referred to as Otherdeeds, came with a cost of 305 $APE, valued at around $6,100 during the mint.
Shortly after its launch, prices of the NFTs skyrocketed on secondary NFT marketplaces with an average cost of $11,000. Within 24 hours, Yuga Labs had raked in more than $300 million in revenue. Since then, the NFT collection has become one of the top NFT collections with high trade and sales volume.
Azuki is an anime-themed NFT collection that launched on January 12, 2022. Chiru Labs, a group of Los Angeles-based artists and developers, created the collection. There are 10,000 NFTs within the collection, 8,700 of which were made available during the initial launch. The rest were minted during a private whitelist.
The NFT collection gained popularity due to its successful launch. The collection sold out in minutes, registering over $30 million in sales. At that time in 2022, the NFT market was still PFP-centric, which meant many people were looking for PFP projects to pour money into. But aside from that, the collection’s aesthetically pleasing hand-drawn characters and roadmap helped draw attention to it. In addition, the collection had hype from NFT celebrities and influencers, which gave it more credibility.
In weeks following the launch, the collection had recorded over $300 million in sales on various secondary markets. That pushed it to a blue-chip NFT level as it maintained high trade and sales volume.
Azuki NFTs give their holders exclusive access and benefits. That includes access to NFT drops, streetwear collabs, live events, and a closed group called “The Garden.”
Launched in April 2022, Moonbirds is an Ethereum-based NFT collection. It is a PFP (profile picture) NFT collection with 10,000 NFTs within the collection. The collection launched via an allowlist, which was formed through a raffle process. An initial 7,875 were offered for sale, each selling for 2.5 ETH (about $7,600 at that time). Another 2000 were airdropped as free mints to PROOF Collective NFT membership pass holders.
Moonbirds quickly became a top-selling NFT collection. Sales skyrocketed on secondary NFT marketplaces days after its launch. Within two days, Moonbirds generated over $280 million in sales, most of which happened on the NFT marketplace OpenSea.
Moonbirds NFT holders enjoy some exclusive benefits and utilities. Holding the NFT gives users access to channels in the PROOF Discord server. Likewise, users who have owned the NFT for a long time get rewarded with additional perks.
Goblin.wtf was one of the surprise launches of 2022. At a time when the NFT market prioritized utilities and benefits, Goblin.wtf emerged unexpectedly, offering nothing in particular.
Although the collection went live on May 22, 2022, it took a while before it got noticed. The collection comprises 10,000 unique goblins sporting different trails and characteristics for the users to own and trade. NFTs in the collection were free to mint at launch, which meant those who took part in the public sale only paid the transaction fees.
There is no definite answer for what led to the buzz around the collection. It could be that the NFT market needed something different from usual. Unlike other collections at that time, Goblin.wtf offered nothing, had no active community, and with zero benefits to the holder. Several media outlets critiqued the project as an “irreverent NFT” project.
At the height of the frenzy around the collection, the price of the NFTs soared on secondary markets. An average goblin NFT traded hands at 10 ETH (about $20,000 at the time). Goblin NFTs sporting rare traits and features fetched much higher prices. A rarer piece called “Crustybutt da gobblin king” sold for 69.42ETH. The sale remains the most expensive to date.
Memories of Qilin was one of the generative art NFTs that hit big numbers in 2022. While Emily Xie, the creator, was already in the generative art market before 2022, Memories of Qilin was her shot to fame.
Memories of Qilin launched in March 2022, when the NFT market was experiencing declines. Initially, the collection recorded minimal trade and sales activities, mainly from the generative arts market. On the general market, it had little success. However, the NFT collection garnered interest afterward and held firm even as the NFT market fell.
The collection draws inspiration from folklore, Chinese mythology, and traditional East Asian painting. The collection also drew more attention to the generative art NFT scene as one that held value.
QQL is another generative art NFT collection with one of the most significant drops in 2022. The collection was the result of a collaboration between Tyler Hobss and Archipelago co-founder and generative art collector Dandelion Wist. QQL launched on September 28 and raised nearly $17 million in dutch styled mint.
The project is described as a collaborative experiment that invites the collector to become the creator. Users with a mint pass can play around with QQL’s algorithm tool to create artistic designs. The unique features of the NFT collection generated buzz, especially amongst generative art NFT lovers and Fidenza collectors.
Launched in April 2022, Silks Genesis Avatars is an NFT collection that acts as a pass to the Silks gameverse. It is a top sports NFT on NFT marketplaces, including silk racehorses, avatars, lands, and stables. The different types of NFTs within the collection serve other uses and give the holders various utilities.
Silks is a virtual world that incorporates traditional horse racing into the metaverse. Due to its unique nature and originality, the project gained massive popularity quickly. The Silks NFTs then acted as a gate pass for users looking to be a part of the Silks metaverse. Users can also trade, own, breed, and earn rewards from racing horses.
With so many use cases and a low entry barrier, Silks NFTs became one of the most popular in 2022. The NFT collection is a P2E NFT collection that requires users to pay for some in-game items and earn in return. Another interesting fact is that every virtual horse within the game is linked to real-life counterparts. The horses also share racing records, training history, bloodlines, and progress. These traits also determine the value of the NFT horses in Silks.
Tamadoge is an NFT-based play-to-earn collection used in the Tamaverse. Even though Tamadoge launched as a meme coin, its growth since its launch is due to its utility and potential. Unlike other meme coins, Tamadoge offers its holders a variety of benefits and opportunities to earn.
NFTs within the collection come to life in the Tamavese as in-game assets. Users can buy, sell and trade these assets within the gaming metaverse. Players can also explore and interact with themselves within Tamaverse.
The NFTs, also called Tamadoge pets, are upgradeable within the metaverse. Players can upgrade their pet by providing items from the Tamadoge store. Such items include cosmetics, food, and toys. In return, the holder is rewarded every time the per levels up.
9. Art Gobblers
Art Gobblers is an Ethereum-based NFT collection launched in August 2022. The collection finished the year as one of the best performing. Art Gobbler’s NFT collection consists of 10,000 NFTs, 2,000 of which were released at launch, with a unique ability to create mintable art pieces. A particular number of NFTs are set to drop monthly until all the 10,000 NFTs are minted.
The collection is a community-based project and hails itself as a self-sustaining decentralized collection. Thus, it relies heavily on its community to grow and remain relevant. Aside from the community support it gets, the ability to create art pieces that users can sell is one of the attractive features of Art Gobblers. It is also one of the reasons why the collection has held firm since its launch.
10. Imaginary Ones
Imaginary Ones is an Ethereum-based NFT collection that went live in April 2022. The collection had one of the biggest launches last year, selling out in just four minutes. The Imaginary Ones used a Dutch Auction for its public mint. A maximum price cap of 1.5ETH was set as a low entry barrier for early supporters of the project.
The project consists of 8888 3D animated art NFTs. Since its launch, the project has recorded over 13k ETH trade volume on the NFT marketplace OpenSea. Likewise, its social media follower count has grown significantly to make it one of the biggest affordable collections of 2022.
DigiDaigaku launched in August 2022. The project was created by web3 gaming company Limit Break, co-founded by Gabriel Leydon and Halbert Nakagawa. The word DigiDaigaku translates to “digital university.” DigiDaigaku characters at present live in what the team calls a mysterious world unknown to outsiders.
The NFT collection consists of 2022 characters. While NFTs within the project cost 0.3ETH to mint at launch, the price has soared since then. The collection has a floor price of 11ETH on NFT marketplace OpenSea. Likewise, the collection has a total trade volume of 9.8K ETH, showing that it has enjoyed moderate success since its launch.