Non-Fungible Tokens (NFTs) enjoyed an astronomical rise in 2021. As people invested in cryptocurrencies, so did the price and popularity of NFTs. As a result, several NFT collections emerged, many of which are market leaders to this day.
However, the cryptocurrency market turned negative in 2022. Several cryptocurrencies lost their accumulated gains last year, wiping billions of dollars from the market. Similarly, the price of NFTs and NFT collections has dropped as people have kept their money.
Despite all the turmoil in 2022, some NFT collections still performed well this year. Many of these collections represent legacy assets, while others have only recently entered the Web3 space.
In this article, we take a look at the list of top NFT collections for 2022. let’s start.
What is the NFT Collection?
It is important to clarify what an NFT collection is, especially for users new to the NFT ecosystem. NFTs are a class of digital assets stored on blockchains. Due to the nature of blockchain technology, it enjoys certain properties such as immutability and persistence.
As the meaning suggests, NFTs are one-of-a-kind and cannot be duplicated. Only one piece can exist at a time. This does not mean that only the owner can use it. In the case of NFT photos, you can share photo replicas online, but at the end of the day, photo ownership still belongs to one person, he is.
An NFT collection can be described as a collection of several NFTs. In most cases, NFTs within the same collection share certain traits that bind them together. For example, all of his NFTs from the Bored Ape Yacht Club (BAYC) are apes with unique attributes. As a result, anyone who comes across one of the BAYC NFTs can easily be identified.
There is no set number of NFTs that can be included in a collection. For example, BAYC contains 10,000 NFTs. Some NFT collections have fewer, some have more. Ultimately, what the creator does determines how many NFTs she has in the collection.
So let’s take a look at the top NFT collections for 2022.
Boad Ape Yacht Club – $1.57 billion
Bored Ape Yacht Club is an already established project in the NFT space and the larger Web3 ecosystem. As a result, the project has emerged as arguably the most popular NFT collection in the industry. While the collection offers exclusive perks to its owner, its celebrity adoption is one of the reasons it’s been so hyped.
Like several other NFT collections, BAYC got off to a strong start in 2022, fueled by a strong performance in 2021. The collection was the first to top his $1 billion transaction volume and became popular among brands for product launches and promotions.
However, crypto winter has finally caught up with the collection and has reduced the price of NFTs. Nonetheless, the hype around the project and the exclusive benefits enjoyed by its owners helped keep it going through the darkest times of 2022.
BAYC will record over $1.5 billion in transactions in 2022, according to CryptoSlam data. Also, the successful release of his ApeCoin and Otherside by Yuga Labs, the maker of BAYC, has boosted trading volume and price of BAYC NFTs.
This collection remains a top quality collection and a popular choice among celebrities. Despite the troubles of 2022, the NFT collection has finished strong for his 2023.
Mutant Ape Yacht Club – $1.14 billion
Yuga Labs, makers of BAYC, have released the Mutant Ape Yacht Club (MAYC) NFT collection as an extension of the BAYC NFT collection. There are many similarities between the two collections, but the main difference is that his MAYC NFT is a mutated version of his BAYC.
For many, MAYC was a cheap way to enter the Yugaverse and access the exclusive offers that owners enjoy. It’s no surprise that MAYC quickly rose to stardom, with trading volumes surpassing his $1 billion mark.
Due to reduced costs, MAYC NFTs are traded and exchanged more frequently than BAYC’s. This year, the collection surpassed his $1.1 billion in sales, putting him $400 million short of BAYC’s trading volume. MAYC saw increased trading volume and mainstream adoption during the launch of ApeCoin and Otherside.
Additionally, NFT holders airdropped ApeCoin tokens at launch in March and received free Otherdeed tokens in April. These benefits show why this collection is buzzing and why 2022 was a strong year.
other side – $1.1 billion
The third entry on this list proves why Yuga Labs is at the forefront of the Web3 industry. Otherside is another project of the forward-looking company and in 2022 he represents the NFT collection with the third highest trading volume.
Unlike BAYC and MAYC, Otherside is a metaverse. This is a virtual world where people can own virtual land, bring NFT avatars to life, and replicate real infrastructure. For Otherside, the NFTs in the collection are parcels of land called Otherdeeds. Users who successfully mint NFTs will be able to access land parcels within his Otherside that Yuga Labs is promoting as an upcoming game world.
Otherside launched this year with one of the largest entries seen in the NFT ecosystem. The anticipation and hype about the Metaverse caused him to generate more than $561 million within 24 hours of its launch, crashing the Ethereum network.
The frenzy of trading also spilled over into secondary NFT marketplaces like OpenSea, where users who were able to mint NFTs were quickly resold to buyers. Otherside’s launch is responsible for his largest single day secondary market trading volume ever recorded on OpenSea.
Otherside continues to make headlines in the cryptocurrency industry months after its launch. In August, Yuga Labs ran the first interactive demo of the Metaverse. During the demo, users were able to bring their NFTs to life and get a sense of what the future holds.
Azuki – $849.9 million
Azuki has one of the largest NFT collections in the world and many would not believe it dropped earlier this year. This is his first NFT collection outside of Yuga Labs and has nothing to do with the already established NFT collections. Exciting, that’s the word.
The anime-inspired NFT collection was able to maintain its strong performance throughout 2022 after a slowdown in early January. The collection has achieved over $850 million in trading volume, solidifying its position as a key player in the ecosystem.
Tsukidori – $613.4 million
Last on our list is Moonbirds, a utility-based NFT collection launched in 2022. The NFT Collection is built on the Ethereum blockchain and stands on the cusp of good standing. The collection posted positive performance in 2022 despite a sharp drop in trading volume and activity in the NFT ecosystem.
One of the perks of owning Moonbirds is access to a dedicated Discord community with information about upcoming airdrops, community events, and more. Added to this is Private Club Membership, and other perks accrue the longer a user keeps her NFT.
The collapse of several cryptocurrency institutions has made the public have more feelings for NFTs. While this has reduced transaction volume, it has helped weed out good projects with solid cases from NFT projects that offer nothing to holders.In a way, 2022 will be a correction of his NFT space. and the year of standardization.
Compared to 2021, when people jumped on NFTs based on the hype, people are more conscious of their decisions regarding which NFTs to buy and invest. This attitude is expected to continue in 2022. Trading volume will also increase.
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*All investment/financial opinions expressed by NFT PLAZA are based on the personal research and experience of the site moderators and are intended for educational material only. , the product should be thoroughly investigated.
A blockchain maximalist who believes the future we are heading for requires technology. An avid researcher and writer who uses his writings to inform the prospects of his blockchain space.