Which NFTs have been the biggest winners in the past year?
- One of the defining characteristics of NFTs is their remarkable volatility.
- Yet, whether they truly have value remains a highly speculative matter as the NFT space continues to mature.
- In the second part of our two-part series, we’ll look at 5 NFT collections that have seen a substantial increase in floor price between April 2022 and October 2023.
There has been a lot of talk lately about the “death” of NFTs. In part 1 of this two-part series, we took a look at some of the NFTs that have seen the biggest decrease in floor price over the past year. One report looking at more than 73,000 NFT collections found that the vast majority had a market cap of 0 ETH. Despite this, many institutions argue that NFTs are not dead, they have simply seen the market mature, or that many sellers are waiting for another boom.
In fact, estimates show that the NFT market is expected to reach $3.2 billion by 2027, rising from just $1.6 billion in 2023. Whether this occurs or not is still speculative, but it is clear that not every NFT has lost value.