Now that cryptocurrencies are feeling more bullish again, is the end of the NFT bear market just around the corner? Once expensive JPEG and Internet Flex files have been in free fall for almost 1.5 years now. When does the bleeding stop?
We usually follow trends like the recent SocialFi hype, but today we take a look at the market and see which NFT collections are still out there. And which PFP projects are actually thriving in these market conditions?
Milady – Deepinternet Community
A little forewarning, you’ll need a thick skin if you’re interested in this collection and community.
why?
Well, Milady holders are known to be very controversial and often cross societal norms. It’s a community of kids who are deeply into the Internet.
This collection began during the NFT bear market around August 2021, hitting a low of 4.2 ETH at its peak. It is still hovering around 2.4ETH, which is an excellent achievement. They are more expensive than collections previously considered “blue chip” such as Doodles, Clone-X and Moonbirds.
This collection is rumored to have become popular on 4CHAN, a forum similar to Reddit but with much less censorship and control. Not surprisingly, Milady PFP is often used in the hacker scene and on the dark web.
Memeland presents one of the most anticipated airdrops
Captainz is a collection that appeared in January 2023. Founded by the former 9GAG CEO, the collection immediately garnered a lot of hype around it.
A few months later, they started teasing an airdrop of the yet-to-be-released $MEME token. Today we see hundreds of people farming for the airdrop, which is scheduled to be completed this month. Lastly, this airdrop is not just for NFT holders; you can also farm or whitelist them.
The low peaked at just over 9 ETH around May 2023. And with the current low of 3.8 ETH, we take our hats off to this collection for laughing hard during the NFT bear market.
DeGods – Founder of Change and Borders in Art
About five months ago, we introduced DeGods and their second collection, y00ts. Controversial founder Frank has been at the forefront of the NFT world. In this case, it is the first collection of blockchain moves from Solana to Ethereum. And I even moved Y00ts from Solana to Polygon.
Their bottom is currently rising to just over 3 ETH, with a collection peak of 10.5 ETH per DeGod.
They are well known for changing up their artwork every few months, and you can see the third version of DeGods in the picture above. I don’t know if that’s the best course of action. But it sure got the whole of X (formerly Twitter) talking about it for weeks.
Pudgy Penguins – Toys at Walmart
This collection has been through it all. They rode the previous Bull to the highest level and were solidified by their founder. Then a miracle happened and Luca Netz purchased the collection and brought it back from the dead. He is currently still the CEO and runs the show.
Pugdy Penguins peaked at around 10 ETH and is currently still selling around 5 ETH. It’s impressive compared to a previously solid collection. Last month some claims were made about Luca’s own previous involvement in rugs, which are well documented here. Of course, Luca has been trying to expose this fact. You can read it and judge for yourself.
Just before these claims were made, the Pudgy Penguins were very optimistic overall. They recently launched physical toys through a partnership with Walmart. Who would have guessed that this particular collection would get there?
If you’d like to hear Luca talk about Pugy’s journey to Walmart, click the image below to go to the YouTube video about it.
Yugalabs – Games + Apes & Punks
Lastly, there are Yugalabs. The powerhouse behind Bored Ape Yacht Club, CryptoPunks and a dozen other collections is without a doubt the market leader in its field.
Although most collections have felt the pain of the NFT bear market, we are continuing to track developments related to Yuga and its projects. They mainly focus on gaming assets during the bear market. Through airdrops and games, they’ve kept the community interested, and while several collections like Mutant Apes have fallen down the ranks, more and more people have joined the Yuga family.
The most stable collection under their umbrella turns out to be CryptoPunks. The famous pixelated PFP collection still holds a stable bottom above 44 ETH.
The BAYC and MAYC collections are on the 26 ETH and 5 ETH floors, which is nothing to be ashamed of. Despite once selling for 140 ETH (BAYC) and 40 ETH (MAYC), it is still the most traded and recognized collection. If you still can’t afford Ape, you can win Gold BAYC (worth 400 ETH) with $34 spins on Rollbit by clicking the image below.
We are always following Yuga and their activities. So you can expect more content in the future when they announce new games or potential new airdrops.
Is the NFT bear market over?
No one can predict the future. I’m not even sure JPEGs will sell for millions again. But ask yourself this: Altcoins, memecoins, Ponzi’s carpet pulls, shitcoins, etc. come back every cycle, so why not NFTs?
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