With each passing day, NFTs are becoming part of our lifestyle. Technology seems to be improvising in every aspect of life including artworks.
Analysts have estimated the growth of NFTs to rise from its current $3 billion to about $13.6 billion by 2027 and its compound annual growth rate will be about 35%. Indeed, that’s a lot of expectation from this sector.
NFTs have evolved to integrate into the cryptocurrency space, as cryptocurrencies have been integrated into the NFTs space.
Both NFTs and cryptocurrencies simply share a symbiotic relationship as NFTs are mostly traded with their platform native cryptocurrencies instead of fiat money.
There’s no doubt that this sector will grow exponentially in the next five years, indicating both crypto projects and NFT projects as it grows.
This article will expose the top 5 most traded NFT collections of June 2022.
What Are NFTs?
Non-fungible tokens are built on a blockchain, they are unique digital assets which are non-fungible.
A blockchain is a digital database that encompasses cryptocurrencies like Bitcoin and Ethereum, it also serves as a public ledger which makes it easy for anyone to verify and confirm the owner of the non-fungible token or its legitimacy.
Just like the name “non-fungible tokens” implies, they are unique, non-transferable and non-interchangeable assets. In other words, two NFTs can’t be the same nor swapped for an identical one of the same or different value.
For the purpose of uniqueness, scarcity and security, many NFTs today are built on the Ethereum blockchain and the reason for choosing the Ethereum blockchain is simply the convenient nature of the blockchain.
Hackers who steal and replicate NFTs will find the Ethereum blockchain impregnable due to the system’s pattern of recording and tracking information.
NFTs can be in the form of digital artworks, music, photos, tweets, videos etc. Anyone can make a living by minting NFTs and selling them on the NFTs marketplaces like Opensea or Rarible with ETH(Ethereum tokens) because they are based on the Ethereum blockchain.
One can also purchase NFTs with credit and debit cards from other marketplaces like Crypto.com.
Top 5 Most Traded NFTs Collections In June 2022
1. Axie Infinity:
The first on the list is Axie Infinity NFTs. This is a very popular NFT given its nature of longevity over time and the constant hype built around it.
Axie Infinity is a virtual world of some fierce and adorable creatures called Axies. These Axies are collected, battled, taken on an adventure and used to earn real value cryptocurrencies.
There are 2,800,000 active Axie Infinity players and a $3.6 billion trading volume on the in-house marketplace.
2. Lucky Block:
Around May 4th, an NFT jackpot was drawn by Lucky Block and at that time, 1,560 NFTs had been sold, excluding some private sales that were made. Until this moment, about 1,800 had been on the net launchpad.com NFTs marketplace where they are listed. This means that 6 or 7 NFTs are sold daily for this newly minted NFT collection that made its minting debut on March 19th 2022.
However, not all have been sold out, so their floor price remains at 3.75BNB. This also suggests that the satisfaction they give is better and stronger because each NFT is a free entry ticket to daily prize draws, plus a special one-off giveaway of $1 million held on May 31st.
The native token of the project is LBLOCK and this is the decentralized automatic payout.
3. Goblintown NFT:
The Goblintown NFT is an interesting collection of 9,999 generative NFTs built on the Ethereum blockchain.
The launch of these NFTs was quite theatrical to say. Even though it had little or no collaborations, promotions, whitelisting or any of such sort, the NFT drop still managed to generate a natural stir in the NFT space.
Goblintown NFTs were initially free to mint but the price went up to 2.5 ETH floor price in one week since May 22nd.
They rank #2 on the Coingecko top-selling NFTs list.
It has a trading volume of $67.3 million and sales of about 26,753.
4. NBA Topshot:
The NBA Topshot NFT collection always piques the interest of basketball fans.
It allows fans and players to collect, trade and sell digital tokens of their favourite NBA highlights. It is the first and very outstanding collectible game ever seen.
Highlights from games can be collected to complete some timed tasks, displayed in showcases and finally moved to the next game.
It has a trading volume of $11.56 million and sold items amounting to about 585,646.
The total transactions to dapp’s smart contracts totalled 1,818,093, while the number of unique wallet addresses interacting with dapp’s smart contracts settled at 59,140 over the past 30 days.
5. The Ethereum Name Service:
Ethereum Name Service (ENS) is a distributed, open and scalable blockchain-based naming system.
The main aim of the ENS is the translation of human-readable names such as ‘anita.eth’ into identifiers that can be read by machines such as Ethereum addresses, other cryptocurrency addresses, content hashes, and metadata.
The design of ENS is very different from the domain name service (DNS) of the internet, due to the possibilities and limitations afforded by the Ethereum blockchain. It also allows users to import DNS domains they already have for use on the system.
Smart contracts also known as registrars control top-level domains such as ‘.eth’ and ‘.test’, which describe the rules governing the allocation of their subdomains. The use of domain is not restricted, anyone can buy a domain for personal use. It is supported by the Ethereum blockchain and has a trading volume of $8.15 million with sales of about 170k collectibles.
NFTs are being traded daily in mass volume via many NFTs marketplaces. This can only suggest that majority of people are being exposed to the benefits of both creating and trading NFTs.
We have highlighted the top 5 most traded NFTs in June, which are very subject to change at any moment.
You may choose to trade on any of the above-mentioned NFTs collections but do well to research extensively before commitment.