Non-fungible token (NFT) assets have been around since at least 2014, but interest in them began to rise in January 2021, according to data from Google Trends. About a year later, the search term “NFT” reached its highest score on Google Trends. During that time, the top five NFT collections, in terms of all-time sales volume, collectively amassed $12.7 billion in sales volume.
5 Non-Fungible Token Projects Capture $12.7 Billion in Sales
Two years ago, the search query “NFT” first appeared on Google Trends (GT), reaching a score of 1 in 100 in the first month of 2021. Prior to that time, GT data shows little to no interest in NFTs, despite its existence since 2014. A year later, NFTs were quite popular, and the search query scored a out of 100 as searches for the term skyrocketed. . Another year later, interest in NFTs has dropped significantly, with the search query reaching a score of 11 out of 100 during the week of January 22-28, 2023.
As of the end of January 2023, metrics indicate that the top five NFT collections by sales volume of all time have recorded a total of $12.7 billion in sales volume since they began receiving significant attention. According to data From dappradar.com, the leader in NFT sales volume over the past two years is Axie Infinity, which has amassed $4.27 billion in sales volume. On January 28, 2023, dappradar.com reports that Axie Infinity’s market capitalization was $1.37 million. The website explains that “market capitalization is equal to the floor price multiplied by the total pickup supply.”
Cryptopunks trails Axie Infinity in total sales volume, having amassed $3.02 billion in all-time sales volume. Its current market valuation is greater than Axie’s market capitalization of $1.04 billion. According to the data, 7,503 merchants have traded Cryptopunks NFTs in 23,259 sales. Next in the top collections is Bored Ape Yacht Club (BAYC), with a record sales volume of $2.39 billion. BAYC has recorded 31,225 sales among 15,176 merchants. Its current market capitalization is slightly lower than that of Cryptopunk, at $1.02 billion.
The fourth largest NFT collection in terms of all-time sales is Mutant Ape Yacht Club, at $1.66 billion. Mutant Ape Yacht Club (MAYC) has an overall market capitalization of around $427 million, and there have been 47,744 sales recorded among 30,475 MAYC dealers. The fifth largest NFT collection in terms of all-time sales is Artblocks, with a global sales volume of $1.36 billion. Its current market capitalization is around $143 million, and the project has seen 227,294 registered sales among 54,842 merchants. While the five NFT collections have amassed a sales volume of $12.7 billion, their collective value is around $2.619 billion.
What do you think of the five NFT projects that together have recorded $12.7 billion in all-time sales? Let us know your thoughts on this topic in the comments section below.
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