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The Dark And Bright Side Of NFTs – Here’s The Top Five Gainers And Losers In NFT History

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NFT gains and loses
NFT gains and loses

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Non-fungible tokens are speculative, similar to other digital assets like Bitcoin and Ethereum. Since their supply and demand drive their market volatility, these digital assets are subject to severe and astonishing price swings, making big gains followed by enormous losses sometimes within a matter of hours.

Rise of NFT Popularity

The timeline of NFT history started way back in 2014 with the first NFT, Quantum, created by Kevin McCoy. During this time, most unique non-fungible token collections emerged on the foundations of the Ethereum chain before coming into the limelight sometime in 2017.

In 2021, the non-fungible token market experienced the highest market hype in the history of crypto. At the time, the market hype left many digital collectibles reaching new all-time highs. The NFT market reached a trading sales volume of $2.9 billion in late 2021.

But unfortunately, the NFT market has suffered a brutal comedown in the past several months, leaving many NFT projects shedding more than 70% of their value. The crypto market downturn started sometime in 2022. In recent weeks, the market has retested hype. Below we have listed some of the top crazy trades in the history of NFTs:

Top Losers In The NFT History

NFT collector holding Jack Dorsey’s tokenized Tweet is a perfect example. An NFT of Twitter co-founder Jack Dorsey’s first tweet, which sold for $2.9 million last year, it’s now worth just $280. Jack Dorsey is an American Internet entrepreneur, philanthropist, and programmer who is a co-founder and former CEO of Twitter, Inc.

Mekaverse is another NFT collection that has suffered a brutal comedown in the short history of NFTs. In 2021, Meka# 2194 sold for 500 ETH or nearly $1 million at current prices. Sadly, the NFT collection has plummeted in value to just 0.2 ETH. The NFT collection used to rival NFTs like Bored Ape Yacht Club and Mutant Ape Yacht Club NFTs.

Cool Cat #1,490 is another NFT collection that dropped steadily in value. The NFT collection has dropped from 320 ETH or $600,000 to just 3.7 ETH. Launched in July 2021, Cool Cats is an NFT collection from Evan Luza and his team featuring a limited edition of 9,999 NFTs.

Top NFT Gainers In The NFT History

NFT collector holding Autoglyph #420 is a perfect example of a top gainer in the short history of NFTs. This NFT collection sold for just 0.8ETH in 2019. Fortunately, the non-fungible token collection has exponentially increased in value years later. The NFT collection has the best value of 100 ETH.

NFT collector holding CryptoPunk # 5822, an NFT collection formerly from digital asset firm Larva Labs, is another NFT gainer. In 2017, this NFT collection sold for just 8 ETH. Last year the same NFT collection sold for a head-scratching sum of 8,000 ETH or more than $15 million.

Best NFTs To Buy Now – Secure Your Slot Today

Wall St Bulls Ordinals is another NFT collection showcasing the huge potential of rising high in the future. The NFT collection, which features an edition of 420 NFTs, was launched last week and raised more than $24,000 in trading sales volume. The Wall St Memes, the team behind the ordinal collection, also has a presale. The $WSM presale is selling fast and has already raised nearly $4 million in just  days.

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