The Non-Fungible Token Market Has Started Turning Profitable Again After Suffering More Than One Year of Downturn

The non-fungible token market has started turning profitable again after suffering more than one year of downturn, which left over 90% of the non-fungible token collections nearly worthless as of November 2023.

Non-Fungible Token Market Begins Turning Profitable Again After Devastating Downturn

Earlier this month, another market analysis revealed the devastating state of NFTs, noting that 96% of NFTs may now be considered dead. This NFT analysis highlighted the high level of unprofitability among NFT holders. Below, we have highlighted three NFT gainers today, October 16.

1. Pops NFT Collection

Pops, a non-fungible token collection featuring a limited edition of 1,111 NFTs hosted on the Solana blockchains network, is today’s top NFT gainer. In the past 24 hours, this NFT collection has seen its trading sale volume pumping +3,000% from the previous day. Its floor price value has also surged +580 to 0.25 SOL during this period. In the past 30 days, Pops NFT series has surged +1000 in sales volumes.

Source: coingecko.com, POPS NFT Trading Activity

2. Fluf World: Thingies NFT Collection

Fluf, a non-fungible token collection featuring a limited edition of 10,000 Mycelium crawling Thingies; fluffy, spider-like critters, is the second top NFT gainer today. This NFT collection was launched by the metaverse gaming platform Fluf World in 2021. At the time, the gamers saw 10,000 Thingies crawl from FLUF World’s vast networks of Mycelium, packing untold surprises. Fluf NFT has surged in sales amid this memecoin supercycle.

Source:coingecko.com, Fluf World:Thingies Trading Activity

In the past 24 hours, the Fluf NFT collection’s floor price value has jumped over 1000% to $0.087. During this period, its sales volume has pumped up +180% in the past seven days, over 150% in the past two weeks, over 117% in the past month, and +76% in the past two months. Nonetheless, the Fluf NFT collection is still down +83% from its all-time highs.

3. RiBT NFT Collection

RiBT is our third top NFT gainer today, October 16, 2024. RiBT is a PFP project inspired by the Turbo Toad mascot, with a community-led AI-driven treasury and contributions from Web3’s biggest artists. The NFT collection features a limited set of 4,216 hosted on the Base blockchain network. RiBT is a transformative art initiative, merging NFT art and PFPs in a fresh approach.

Source: coingecko.com, RiBT trading activities

In the past 24 hours, the RiBT NFT collection has surged its floor price by over 137% to $0.066. The RiBT NFT collection has also seen its sales volume, pumping over 5,000% to 6.49 ETH in the past 240 hours, over 280% in the past seven days, over 280% in the past two weeks, over 700% in the past thirty days, and over 600% in the past two months. All investors holding these NFTs over the past three months are now making massive profits.