Amidst recent claims of the demise of non-fungible tokens (NFTs) and a broader market downturn, CoinGecko, in a recent report, presents a contrasting perspective, indicating that NFTs minted in 2021 continue to dominate in terms of popularity.
CoinGecko’s Insight on the NFT Market
CoinGecko’s report highlights the enduring popularity of certain NFT collections. The most popular NFT on CoinGecko is Nakamigos, which has garnered the attention of 1,234 users who have added it to their watchlists. This suggests that a significant number of investors or holders are closely monitoring Nakamigos’ price, despite its relatively recent introduction.
Following closely behind is the NFT giant Yuga Labs’ Bored Ape Yacht Club (BAYC), the second most favored NFT collection, with 1,076 users watching it. CyberKongz and bitmap also have notable followings, with 867 and 851 watchlist entries, respectively.
Among NFTs introduced in 2022, Pixelmon has gained prominence as the most popular collection, particularly following its project’s revival. It currently sits on 786 user watchlists. CoinGecko’s data indicates that the top 30 most sought-after NFT collections on its platform have all captured the attention of 400 or more users who have added them to their watchlists.
Strong Appeal of 2021 NFTs
Interestingly, NFTs created in 2021 maintain their strong appeal, occupying 12 out of the top 30 spots on CoinGecko’s popularity rankings. These 2021 NFTs have demonstrated resilience in terms of reputation and community support, remaining relevant over time.
However, it’s worth noting that NFT collections introduced during the bear market also have a significant presence in the list of the most popular ones.
2023 NFTs and Ethereum Dominance
As of the report, 2023 NFTs hold nine positions within the top 30, surpassing their 2022 counterparts, which account for eight slots. This trend suggests that 2022 may have been a challenging year for NFT collections, which is offering a slightly more optimistic outlook for 2023.
The report also underscores that it remains uncertain whether more 2023 NFT collections will rise in popularity. Furthermore, the report emphasizes that Ethereum-based NFTs continue to dominate the NFT space with 24 out of the top 30 rankings comprising Ethereum NFTs.
Contrasting Views on NFT Value
While CoinGecko’s report indicates that NFTs, especially those minted in 2021, maintain their appeal and popularity, it contrasts with another report that suggests a significant portion of NFTs, around 95%, have no monetary value. This discrepancy in views highlights the diverse opinions and perspectives within the NFT market.
Read More:
Tether Enforces Suspension of USDT Redemption for Select Customer Groups in Singapore
Data Unveils The Lazarus Group Accumulating More Than $40 Million in Bitcoin