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Non-fungible token ($NFT) assets have existed since at least 2014, but interest in them began to rise in January 2021, according to Google Trends data. Approximately one year later, the search term “$NFT” reached its highest score on Google Trends. During that time the top five $NFT collections, in terms of all-time sales volume, have collectively accrued $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 out of 100 in the first month of 2021. Before that time, GT data shows little to no interest in NFTs, despite their existence since 2014. A year later, NFTs were quite popular and the search query reached a score of 100 as searches for the term skyrocketed. Another year later, interest in NFTs has decreased significantly, with the search query reaching a score of 11 out of 100 during the week of January 22-28, 2023.
As January 2023 ends, metrics indicate that the top five $NFT collections by all-time sales volume 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 last 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 collection total supply.”
Cryptopunks follows Axie Infinity in overall sales volume, having accumulated $3.02 billion in all-time sales volume. Its current market valuation is larger than Axie’s market capitalization, at $1.04 billion. According to data, 7,503 traders have traded Cryptopunks NFTs in 23,259 sales. Next in the top collections is Bored Ape Yacht Club (BAYC), with $2.39 billion in all-time sales volume. BAYC has recorded 31,225 sales among 15,176 traders. Its current market capitalization is slightly lower than Cryptopunk’s, at $1.02 billion.
The fourth largest $NFT collection in terms of all-time sales is Mutant Ape Yacht Club, with $1.66 billion. Mutant Ape Yacht Club (MAYC) has an overall market capitalization of around $427 million, and 47,744 sales have been recorded among 30,475 MAYC traders. The fifth-largest $NFT collection in terms of all-time sales is Artblocks, with $1.36 billion in global sales volume. Its current market capitalization is around $143 million, and the project has seen 227,294 sales recorded among 54,842 traders. While all five $NFT collections have amassed $12.7 billion in sales volume, their collective value is around $2.619 billion.