The top 10 NFT coins by market capitalization
Bogdan LashchenkoThere are frequent discussions on the Internet regarding various NFT tokens that are part of some collections or not. Due to this, there are questions about what coins are the most highly demanded among investors. Today, we will tell you about NFT tokens that are not part of collections like Bored Ape Yacht Club, Azuki, Crypto Punks, etc, but that are very popular among crypto enthusiasts.
The majority of representatives of our list will have a direct relation to NFT gaming or metaverses, so it will be especially interesting for those who are not indifferent to the crypto gaming industry or the development of virtual worlds and Web3 technology.
10th place — Ethereum Name Service (ENS)
Ethereum Name Service is a pretty unusual project that is not related to the gaming industry. The main idea of the service is to provide users with an opportunity to register their names in the Ethereum network. The creators of Ethereum Name Service promise clients to choose “The decentralized names for wallets, websites, and many others”.
On the website of Ethereum Name Service, there is an option to look at what names are reserved using the search and, also, register your name in the Ethereum network, which is logical. The name registration takes 3 steps: request for registration with payment for the service, a short wait, and the end of the registration.
Regarding the price of the service, it varies depending on the term users want to purchase their Ethereum name. The service costs $10,55 for 1 year, $15,56 for 2 years, $20,56 for 3 years, $25,56 for 4 years, $39,57 for 5 years, $55,58 for 10 years, $80,60 for 15 years, $105,62 for 20 years. There are no limitations on purchase terms. If you hide from the sun, have a lifestyle similar to bats, and are confident that you will live more than 1000 years, you will be able to register the Ethereum name for this term. However, it is worth thinking about the feasibility of this decision.
The ENS service emerged in November 2021. The hype around Ethereum Name Service appeared immediately and the price of one token was equal to $75. It is worth noting that ENS emerged during the record high values of the cryptocurrency market, so there is nothing surprising that the token started declining with the whole market, as a result. At the moment, 1 ENS coin costs $13, the general market capitalization amounts to $335,347,089, and the sum of trades done by traders over the past day is equal to $23,019,007. Ethereum Name Service holds 100th place in the top 100 coins with the highest capitalization, closing the 100 best.
9th place — ImmutableX (IMX)
ImmitableX is a platform that is intended to bring Web3 gaming to a new level. With the help of this platform, many crypto games that work on blockchain technologies have already been released. Examples include Gods Unchained, Kongregate, Illuvium, Guild of Guardians, Cross the Ages, and Ember Sword.
The creators of the platform offer their help to the developers of NFT games and help them to release their game, taking care of transaction problems and other moments that can disturb from focusing on game development.
At the moment of writing, 1 ImmutableX token is evaluated as $0,46, the market capitalization is equal to $337,821,764, and the volume of trades conducted by traders during the last day amounts to $12,008,386. Just like in the case of Ethereum Name Service, ImmutalbeX emerged in November 2021 when the crypto market reached its maximum numbers. Initially, the price of IMX was equal to $5,5, after which it grew to $9,5, but it started falling right after the crypto market, as it was mentioned earlier, one ImmutableX token is not far from Ethereum Name Service now and holds the 97th place.
8th place — Decentraland (MANA)
The eighth place is held by the project that fits the crypto gaming and metaverse topic perfectly. Decentraland with its token MANA enters the top 8.
This virtual world does not need a special presentation because it is one of the most popular projects in the Web3 technology segment. Perhaps, it is one of the main competitors to The Sandbox if not the main one. The remarkable thing is that Decentraland emerged at the end of October 2017 and the price of one MANA was equal to only $0,01. Before January 2021, the project had been growing slowly and the price of a coin was not exceeding the $0,02 threshold.
In the first quarter of 2021, patient investors who had invested in MANA back in 2017 were able to get 100x+ when the price of the Decentraland native token reached the sum of $1 or even $1,5. However, the crypto market dropped down then and MANA was no exception, Decetraland together with other tokens started growing in November and provided its first investors with an opportunity to multiply their investments by 500 times and more. At that moment, the price of Mana reached its record-breaking amount and was fixed at $5,20, after which it began falling again.
Now, the Decentraland exchange coin is equal to $0,38. The general capitalization of Mana amounts to $629,730,215, which is twice more than its nearest competitor in the face of ImmutableX. The volume of trades for the last day amounted to $39,429,552. Decentraland has good prospects, so MANA might beat its maximum in the next bull cycle and provide investors with a good profit in two-three years. Decentraland has held 58th place on the list of coins with the biggest capitalization.
7th place — Chiliz (CHZ)
Chiliz stands out among its competitors due to the specifics of its activities. The blockchain was created to realize the idea of fan tokens. Tokens of various football clubs, including the national teams that participate in the World Cup 2022 in Qatar, appeared in this network.
Examples include the tokens of Manchester City, FC Barcelona, Juventus, Paris Saint-Germain, and others. Besides football clubs, Chiliz has a partnership with UFC and various sports clubs like Natus Vincere, OG, Alliance, and others.
Chiliz is a truly unique and unusual blockchain with the same goals and ambitions. Initially, it had a small fan base and, as a result, investors. The project emerged in July 2019 and each token was equal to $0,015. Unlike other crypto assets, Chiliz had its highest value in March 2021, not in November. Then, the CHZ price was more than $0,70, which allowed early investors to multiply their investments by 40 times and more.
Now, 1 CHZ is equal to $0,14, the general capitalization amounts to $770,785,185, and the value of trades for the last day amounted to $236,956,475. Chiliz owes these high numbers to the ongoing World Cup 2022 in Qatar. Football fans trade in tokens of national teams before, during, and after each match, which influences their price significantly. The remarkable thing is that the closer World Cup 2022 gets to its end the lower the price of CHZ is. After the end of the tournament, the token might even drop to $0,10 or even lower. Chiliz almost managed to enter the top 50 coins with the highest capitalization, having stopped in 54th place.
6th place — Theta Network (THETA)
Theta Network is a platform created to realize various ideas using Web3 technology. It is more about not NFT games and metaverses but various media data. Theta Networks focuses mainly on the video component and show who they partner with in terms of video distribution.
The project Theta Network emerged in February 2018 and was trading between $0,10 and $0,20. In March and April, THETA reached its historical maximum and was equal to $13. In such a way, investors who had believed in the project at the early stages and accumulated funds had an opportunity to multiply their investments by 100+ times.
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At the moment, the price of one Theta Network token has dropped to the level of $0,83. The capitalization of THETA, in turn, is equal to $830,522,289 and the value of trades for the last day amounted to $16,294,805. The interesting thing is that all Theta Network tokens were released in the network, so tokens are not mined and due to this, they have the potential of a deflationary asset. There are 1,000,000,000 coins in the network on the Internet. Theta Network is Chiliz’s neighbor on the list of coins with the highest capitalization. The token almost entered the top, having placed 53rd.
5th place — The Sandbox (SAND)
One of the main representatives of the metaverse sector is The Sandbox, which emerged in the middle of August 2020. Not that many people knew about the project as they do now and the sphere of the virtual universes was not developed, so the token was not able to surpass the mark of $0,05 for four months. After this, the asset started growing slowly and brought the biggest earnings in November. The maximum price was equal to $7,51, which allowed early investors to multiply their investments by 150 times.
The SAND native token is the main instrument for conducting various transactions in the world of The Sandbox. For this reason, the coin will always be demanded until the metaverse keeps developing and will have people who spend time in it. There is no reason to doubt the relevance of The Sandbox because the developers of the project make some changes frequently and try to attract more people to their world.
Previously, we said that the management of the platform signed a partnership with the K-pop band called TripleS and the musical platform ModHaus to spread its influence in Korea and East Asia. Besides, there are the results of the partnership with the company TourismX in the form of a tourist district in the metaverse. All of this reflects the development of The Sandbox and we may see the boost of the token in a few years when the crypto market will start growing again.
At the moment, one SAND token is equal to $0,55, the general capitalization equals $864,076,266, and the value of trades for the last day amounted to $112,357,672. The token emission has already surpassed 50% and is equal to 1,571,957,026 out of 3,000,000,000 tokens. The Sandbox closes the top 50 coins with the highest capitalization.
4th place — Axie Infinity (AXS)
Of course, our list can’t miss, perhaps, the most hyped NFT game, Axie Infinity. The game that uses non-fungible tokens in the form of controlled characters emerged in November 2020 and the price of the coins was equal to $0,15, it raised more and more every week, and it even surpassed the mark of $1 in February 2021.
The project by Sky Mavis got very popular and reached its peak popularity in November 2021, just like many other digital assets. Back then, one AXS was equal to $160. In such a way, early investors who had bought tokens for $0,15 at the very beginning and waited till the mark of $150 was surpassed managed to multiply their investments by 1,000 times. These results are pretty rare in the crypto universe.
You probably heard many times that Axie Infinity had founded a new type of job where you had to play this NFT project and earn in-game money to sell it and withdraw in fiat. Some entrepreneurs even found people to provide them with a starter pack and “the employees”, in turn, were playing the game and earning money.
However, AXS, just like other NFT tokens and digital assets, declined in price very significantly compared to the situation in November last year. At the moment of writing the material, one native token of Axie Infinity is equal to $7,55. The general capitalization of the NFT coins equals $867,230,790 and the value of trades for the last day amounted to $77,192,068. Axie Infinity is adjacent to the metaverse The Sandbox in the top 50 coins with the highest capitalization, placing 49th.
3rd place — Flow (FLOW)
Flow positions itself as a platform that can help developers of Web3 applications to create an ecosystem and establish a transaction process. The company has managed to raise more than $725,000,000 during investment rounds. The list of companies that have invested includes such names as Digital Currency Group, CoinFund, Liberty City Ventures, and others.
Unlike other representatives of our today’s list, Flow focuses more on cooperation with the community and is not some kind of a specific project like an NFT game, metaverse, and others.
It is also not odd to notice that Flow emerged during the first peak of the bull cycle in 2021 which happened in the first quarter. The service was released in February and the token was equal to $7, after which it reached the mark of $37 pretty successfully. Despite the repeated rise of the crypto market in November of the same year, Flow amounted to $12 then and continued falling.
By now, the price of FLOW only equals $0,89, which is 7,8 times less than the starting value. Despite this, the general capitalization of Flow quickly reached the desired mark of $1,000,000,000, having stopped at $931,202,378. The value of trades for the last day amounted to $35,064,390. Flow holds 44th place in the top 50 coins with the highest level of capitalization, losing only to two competitors in the NFT segment.
2nd place — Internet Computer (ICP)
The project Internet Computer was created to attach Internet users to the culture of Web3 technology. The developers want to help to get rid of the Web2 environment, having placed it with newer technologies. The release of the token happened on May 10 2021 and the starting price was an enormous $461 and the general value of trades surpassed the mark of $2,500,000,000 on the third day. Since then, the coin was becoming cheaper constantly and it has reached $4 today.
It does not stop Internet Computer from having the general level of capitalization surpassing the mark of $1,100,000,000. The majority of the owners of the ICP token are set for long-term perspectives because the level of daily sales has stopped at $27,674,411 before even reaching $30,000,000, while many representatives of our today’s list have a few dozens and hundreds of millions of dollars in circulation. ICP holds 38th place in the top 40 coins with the biggest level of capitalization, losing to the main competitor from the NFT sector, ApeCoin.
1st place — ApeCoin (APE)
The undisputed leader of our list is ApeCoin, which was beyond doubt. APE is a native token of the metaverse Otherside created by one of the most popular NFT collections Bored Ape Yacht Club. ApeCoin, just like in the case of Internet Computer, costs $4 but the level of daily trades almost reached $200,000,000, having stopped at $190,896,803.
The general level of market capitalization, in turn, is equal to $1,441,059,930. The remarkable thing is that APE was equal to $8,54 at the very beginning, after which it surpassed the mark of $23 a month later and started losing its price like the majority of coins.
The creators of ApeCoin, Yuga Labs, know how to do business and distribute their products. Due to their NFT collection Bored Ape Yacht Club, the developers were accused of unfair distribution of their tokens using their contacts. It was not proven, so no one started legal proceedings. However, ApeCoin holds the title of the main NFT token confidently.
It is worth reminding that we have considered only NFT tokens that are available for mass trades on marketplaces but not non-fungible tokens from various collections like Bored Ape Yacht Club, CryptoPunks, Azuki, and others.
Bogdan Lashchenko – content manager at EgamersWorld.Bogdan has been working at EGamersWorld since 2023. Joining the company, he began fillin the site with information, news and events.