Non-fungible tokens are performing well, with Axie Infinity leading the way as the top collection in the market. According to the latest data, the annual transaction volume for Axie reached an incredible milestone of $4.2 billion. This indicates a remarkable interest in the digital collectibles.
Apart from Axie Infinity, other top collections with impressive records include Bored Ape Yacht and CryptoPunks. The two digital collectibles have displayed some serious figures, proving that the NFT landscape is still a lucrative place.
Prominent NFT collections by trading volume
As per data from the Guinness World Records, Axie is the most successful virtual collectible game with an annual transaction volume of $4.2 billion as of December 2024. It was the top digital collection by all-time trading volume of $4.2 billion, with 2 million buyers, and 22 million buy/sell transactions.
According to metrics from the Guinness World Records, Axie Infinity witnessed a gradual growth of non-fungible token trading sales year-to-year record. However, the data analyst did not include the transaction volume generated in 2023.
As of March 24, 2022, an aggregate of 1,304,117 Ethereum (worth $4,039,319,819) was spent on NFTs from this collection. That was an improvement from the sales output earned in 2021. The data showed that the collection registered $3.5 billion in digital collectible trading in 2021.
Other closest competitors in terms of annual non-fungible token trading volumes as of December 2024 include the following. Bored Ape Yacht earned total sales of $3.237 billion, with 21,673 buyers and 20,600 sellers. CryptoPunks also had impressive annual sales of $2.986 billion, with 6,792 buyers and 5,543 sellers.
The NFT industry shows enthusiasm and shifting trends
Although, NFTs have not resurged to their previous highs, innovation and interest remain robust in the market. Animoca Brands Chairman Yat Sui recently said the sector could experience a long run for NTF transaction volumes to generate billions in terms of US dollars every month. However, such achievement could happen once the broader cryptocurrency markets mature.
Meanwhile, multiple emerging trends are creating new narratives in the market. For instance, traditional industries like gaming and fashion are integrating NFTs into their applications, further expanding the scope of NFTs. Digital startups and luxury brands manufacture “phygital” products that integrate digital and physical ownership.
Besides that, NFTs continue to play a deeper role in metaverse and gaming as they allow users to monetize their digital assets. Even traditional brands nowadays monetize their secondary sales.
Traditional games are on their way to embracing NFTs to respond to the evolving needs of their users. In traditional games, players don’t own items they buy as they are licensed to utilize them within the games. However, this is a different case in NFTs as they allow players to own their items and even move them between games or platforms. This approach provides players with greater control over their gaming experience.
