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Highlights
- The year 2021 was all about non-fungible tokens or NFTs.
- By the end of 2021, transactions worth US$41 billion were made in terms of NFTs.
- Today, the NFT market stands at US$22,653,019.57 with a 24-hour sales volume of US$148,985.82 and approximately 915 NFTs being sold.
When the year 2021 started, the market for non-fungible tokens (NFTs) was still at a nascent stage. Despite the pandemic and sluggish economic conditions, the NFTs noted nearly transactions worth US$41 billion by the end of 2021. This was a significant jump considering that NFT trading was just at US$100 million in 2020, as per DappRadar data. In fact, even in the first couple of months of 2021, things were slow. But the NFT mania hit the market with the Beeple NFT, which was sold for US$69.3 million on 11 March 2021.
In fact, such was its craze that NFT was declared as the Collins Dictionary word of the year. Collins Dictionary described NFT as a digital certificate of ownership of a unique asset such as an artwork or a collectible. Today, the NFT market stands at US$22,653,019.57 with a 24-hour sales volume of US$148,985.82 and approximately 915 NFTs being sold. Almost all big names from different walks of life have jumped on the NFT bandwagon.
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As the pandora box for NFTs has opened, the market for it in all likelihood would expand with major projects slated to be launched in 2022.
Let’s take a look at the top 4 NFTs which could rule the market this year.
Decentraland
Decentraland is a fast-catching NFT game, which boasts of its own Decentralized Autonomous Organization (DAO), with an aim to allow the users to buy or sell virtual real estate on its platform. Through its own unique marketplace, the users can take advantage of its virtual in-game assets like wearables, in-game tokens, and others.
It is one of the NFTs that has created a major ripple in the space with leading brands such as Samsung creating a metaverse version of its NYC store in Decentraland. Also sometime back, a plot of virtual real estate was sold on its platform for a record US$2.43 million, which was more than double the previous record of US$913,000.
Also read: Top 10 cryptocurrencies beyond Bitcoin to watch in 2022
Decentraland is one of the NFTs, which is attracting the audience to its platform. With metaverse, it could well be the NFT to watch out for in 2022. On 7 January, the Decentraland’s governing token MANA was trading at US$3.24 with a trading volume of US$402,909,015. MANA was up by 13.75% in the last 24 hours with a live marketcap of US$5,884,613,547.
Pulp Fiction NFTs
Led by Quentin Tarantino, the Pulp Fiction NFTs is all set to be launched this year. Although Tarantino had announced his intention to launch the Pulp Fiction NFT in November last year, but it got tangled in a lawsuit by film studio Miramax. Although, the intellectual property rights lawsuit is still pending, but Tarantino is expected to go ahead with the launch, and this could see huge gains.
MekaVerse
As a collection of 8,888 generative Mekas, the new NFT is inspired by the Japan Mecha Universe. Powered by the Ethereum blockchain, MekaVerse is the most-hyped NFT collectible, which saw the sales go over US$60 million within the first 24 hour of its launch in October 2021.
Available on NFT marketplace OpenSea, the MekaVerse has 8,888 unique Mekas aligned with 172,876 wallets. As there is immense interest in this regard, users also have the opportunity to mint, which could also see more participation. As OpenSea is one of the largest marketplaces for NFTs, MekaVerse can grow immensely in the coming few months.
Autograph.io NFT
As the name suggests, the Autograph.io NFT allows collection of customised autographs of athletes, entertainment, and other areas. Co-founded by Tom Brady, it has the likes of Tiger Woods, Usain Bolt, Rob Gronkowski, Naomi Osaka etc. as its torchbearers. The users can get one-of-a-kind individually signed editions and gain access to exclusive content through the NFT.
With more and more sports personalities entering the crypto world, this one could well be the one which could rule the sports world and fans after fan tokens. Although it is not launched yet, the project holds tremendous potential considering more and more people are getting into the sports NFTs.
Conclusion
The NFT space has expanded at a rapid pace and after establishing itself as a potent force to reckon with, the listed NFTs could well be the stars of 2022. The sun is shining bright on the NFT horizon and 2022 could be the year when it expands itself into a new market force.
