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Trends Driving NFTs Growth

Part of our special research report

State of the NFT Market | Q1 2022

In partnership with CryptoSlam

Avatars accounted for most of the growth in the NFT space in 2021, but diverse use cases are starting to emerge.

More niche products are also emerging, including fractionalized property ownership, and DeFi products made specifically for the NFT ecosystem are expected to grow this year.

Such developments were discussed in detail during interviews with Charles d’Haussy, managing director, Asia-Pacific, ConsenSys; Helen Hai, head of NFT and fan token at Binance; and Audrey Ou, co-founder and CEO of NFT art platform TRLab. Condensed versions of these interviews are found in this report.

bored apesmutant bored apesazuki 2meebitCrypto Punk OPENSEA1 copy
Bored Ape Yacht ClubMutant Ape Yacht ClubAzukiMeebitsCryptoPunks
What is it?10,000 Bored Ape NFTs programmatically generated from over 170 possible traitsUp to 20,000 Mutant Apes NFTs (spin-off from Bored Ape Yacht Club)10,000 manga-style avatars; Azuki aims to be identities for The Garden metaverse20,000 unique
3D voxel characters; Snoop Dogg is a high profile owner
10,000 uniquely generated characters; one of the earliest
examples of NFTs
Launched dateApril 2021August 2021January 2022May 2021June 2017
BlockchainEthereumEthereumEthereumEthereumEthereum
Created byYuga LabsYuga LabsChiru LabsLarva LabsLarva Labs
2022 Sales VolumeUS$421.3
million
US$343.3 millionUS$367.4 millionUS$48.6
million
US$216.1 million
Floor priceBAYC:
97 ETH
MAYC:
21.8 ETH
Azuki:
12 ETH
Meebits:
6.1 ETH
CryptoPunks:
71.94 ETH
Discord Community146,620146,62087,89554,45354,453
Data taken March 1, 2022. Source: CryptoSlam, 2022 sales volume refers to estimates for January and February
Images: opensea.io, azuki.com/gallery, meebits.larvalabs.com, larvalabs.com/cryptopunks