The Contrasting Perspectives on the NFT Market
While there have been claims about the demise of non-fungible tokens (NFTs) due to the recent market downturn, a report from CoinGecko presents a different viewpoint. According to the report, there are several NFT collections that continue to attract significant attention and maintain their popularity.
The Most Popular NFT Collections
Nakamigos is currently the most popular NFT on CoinGecko, with 1,234 users adding it to their watchlists. Following closely behind is Bored Ape Yacht Club (BAYC) by Yuga Labs, with 1,076 users interested in this collection. CyberKongz and bitmap also have a substantial number of watchlist entries, with 867 and 851 respectively.
Among the NFTs launched in 2022, Pixelmon has gained significant popularity and now sits on 786 user watchlists. CoinGecko’s data aggregator also reveals that all of the top 30 most sought-after NFT collections on its radar have garnered the attention of at least 400 users who have added them to their watchlists.
The Resilience of NFTs
Despite the market downturn, NFT collections introduced in 2021 continue to maintain their appeal and occupy a significant number of spots in the top rankings. These collections have demonstrated resilience over time and have gained reputation and community support.
However, it is worth noting that NFT collections introduced during the bear market of 2022 also have a presence in the list of popular ones. As of now, 2023 NFTs hold nine positions within the top 30 rankings, suggesting a slightly more optimistic outlook for this year compared to 2022.
Ethereum Dominates the NFT Space
Despite claims about the worthlessness of NFTs, especially those not on Ethereum, CoinGecko’s report indicates that Ethereum-based NFTs continue to dominate the market. Out of the top 30 most popular collections, 24 are Ethereum NFTs.
Hot Take: The NFT Market Remains Alive and Evolving
Contrary to claims about the demise of NFTs, CoinGecko’s report suggests that there are still several NFT collections that attract significant attention and maintain their popularity. While there may be challenges and fluctuations in the market, NFTs continue to thrive, with Ethereum-based collections leading the way. The future of the NFT market remains uncertain, but it is evident that these digital assets have captured the interest and support of a considerable number of investors and collectors.
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