In 2022, bears dominated the field of programmed apes and other appealing creatures. This year’s NFT market could not endure the general economic downturn. As a result, the slide was followed by the bulk of the leading collections.
However, not all hope is lost. A recent Coinbase research indicates that the 2022 NFT decline is healthy. It further asserted that the use of NFTs is still in its “infancy”
The Bored Ape Yacht Club collection accounted for three of the top five NFT sales in the previous day. Additionally, an NFT from the Azuki collection was put on the list. Users were required to spend between $304k and $152k to get these digital tokens.
This Year’s Trend in NFT
As indicated in the table below, the most frequently mentioned NFT phrases this year included ‘bayc,’ ‘boredapeyc,’ ‘bayc,’ ‘eth,”mayc,’ ‘floor,’ ‘twitter cryptopunks,”moonbirds,’ ‘nftcommunity,’ etc.
Despite the fact that the tags associated with the Bored Ape Yacht Club collection appear to be quite dominant, it is important to note that the collection did not place first. The social engagement data published by LunaCrush ranked Azuki first.
Then followed Bored Ape and VeeFriends by Gary Vaynerchuk’s NFT collection. In addition, the Goblin Town collection was included. Midway through May of 2022, they were released and quickly ascended to the top of the charts. In truth, its transaction volume at the time was second only to BAYC.
The moonbirds also made the list of the top ten. As a result, the NFT artwork collection contains 10,000 pixelated owl avatars made by a computer. They were completely sold out immediately following their launch at a price of 2.5 Ethereum per NFT.
In addition to the collections already stated, the list also contains Axie Infinity, MAYC, Gutter Cat Gang, and Sorare NFTs.
Last on the list was the Otherdeed for Otherside NFT collection by Yuga Labs. The BAYC Metaverse Otherside is considered one of the most successful NFTs of all time, with mints flying off the shelves upon its release.
In May, Otherdeed for Otherside claimed that weekly NFT activity on Ethereum was $1.6 billion. This contributed to the total value of NFTs issued and exchanged on the platform reaching $23.7 billion.