Amid the ongoing crypto bear market, the NFT market has also seen a massive decline since last year. The value of NFT collections has declined and interest in the ecosystem has also declined.
According to data from CryptoSlam, sales volume in the NFT market has fallen by 34.70% over the past 30 days. Although there are more NFT sellers, the number of NFT buyers fell by 24.90% during the same period.
As the market eagerly awaits the next bull market, these are the best NFT collections that could potentially survive into the future.
Bored Ape Yacht Club (BAYC)
Bored Ape Yacht Club is an Ethereum-based NFT collection launched by Yuga Labs, an NFT development company. BAYC holders consist of 10,000 NFTs and enjoy exclusive perks, benefits and priority in other Yuga Labs projects. CoinMarketCap data shows that BAYC traded 1,246 ETH in the last 24 hours and has a market cap of 245,183 ETH.
Mutant Ape Yacht Club (MAYC)
Mutant Ape Yacht Club is a 20,000 NFT collection featuring ape-like avatars. The project is an offshoot of the BAYC and a cheaper option for collectors looking to enter the Yuga Labs ecosystem. In the last 24 hours, the collection has recorded 409.62 ETH in transactions and an estimated market capitalization of 94,320 ETH.
CryptoPunks
CryptoPunks is a blue-chip NFT and one of the first to kick off the NFT frenzy. NFTs within the collection have achieved six-figure sales and are considered a safe haven. Although the NFT market is in a recession, the collection saw a 150% increase in 24-hour trading volume at the time of writing. CryptoPunks has a market cap of 500,046 ETH.
Horrible
Dreadfulz is a 7,777 piece NFT collection built on the Ethereum blockchain. Despite bearish market conditions, the collection is one of the few that has registered a significant increase in price value, according to CoinMarketCap data. The collection has an estimated limit of 76.21 ETH.
The gods
DeGods is an Ethereum-based collection of 10,000 NFTs. The collection is a profile photo type NFT with various attributes created using an algorithm. The collection has a total market capitalization of 29,233 ETH.
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