Now that crypto feels more bullish again, is the end of NFT bear market around the corner as well? The once-expensive JPEGs and internet flexes have been freefalling for nearly 1.5 years now. When does the bleeding stop? We usually follow trends, like recently the SocialFi hype, but today we’re looking at the market and see which NFT collections are still here. And which of the PFP projects are actually thriving under these market conditions.
Milady – Deepinternet community
A little pre-warning, if you’re interested in this collection and community, you will need a thick skin. Why? Well, the Milady holders are known to be very controversial and often cross societal norms. It’s a community of internet kids, the ones that are deep into it. The collection started in the NFT bear market, around August 2021 and hit a floor price of 4.2ETH at its peak. It still sits at 2.4 ETH floor, which is an outstanding performance. They are more expensive than collections we previously considered “blue chips”, like Doodles, Clone-X, and Moonbirds. Rumour has it, that this collection grew popular on 4CHAN, which is a forum similar to Reddit, but with way less censorship and control. Unsurprisingly, the Milady PFPs are frequently used in the hacker scene or dark web.
Memeland brings one of the most anticipated Airdrops
The Captainz, is a collection that came on the scene in January 2023. Founded by a former 9GAG CEO, it immediately had a certain hype around it. A few months in they started teasing an Airdrop of yet to be launched $MEME token. Today, we see hundreds of people farming for the Airdrop which is scheduled to be done this month. Just to state one last time, this airdrop is not only for holders of the NFTs, you can farm it or get whitelisted as well. Around May 2023, the floor peaked at a little over 9 ETH. And with a current floor of 3.8 ETH we take our hats off for this collection that laughed deep in the NFT bear market.
DeGods – Art changes and an edging Founder
About 5 months ago, we introduced you to DeGods and their second collection y00ts. Their controversial founder Frank has been at the forefront of the NFT world. It’s the first collection to move blockchain, from Solana to Ethereum in this case. And they even moved Y00ts from Solana to Polygon. Their floor is currently hoovering slightly over 3 ETH, with the collection topping at 10.5 ETH per DeGod. They are well known for changing the art every few months, and in the picture above you see the 3rd version of DeGods. If that is the best move, I don’t know. But it definitely got all 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 highs, then got rugged by their founder. Then a miracle happened, Luca Netz stepped in to buy the collection to bring it back from the dead. He is currently still CEO and running the show. The Pugdy Penguins peaked around a 10 ETH floor, while currently still selling around 5 ETH. Impressive, for a collection that was rugged before. With that being said, last month some allegations were raised that Luca himself has been previously involved in rugs, it’s well documented here. Of course, Luca has been trying to debunk this. You can read it and be the judge yourself. Right before those allegations, Pudgy Penguins were very bullish across the board. They just released real-life toys in a partnership with Walmart. Who would have guessed that this specific collection would ever get there? If you’re interested in hearing Luca talk about the Pugy journey to Walmart, click the image below which takes you to his YouTube video about it.
Yugalabs – Games + Apes and Punks
Last, but certainly not least is Yugalabs. This powerhouse company behind Bored Ape Yacht Club, CryptoPunks, and a dozen other collections is without a doubt the market leader of the space. While most of the collections have felt the pain of the NFT bear market with declining floors, we keep following the developments around Yuga and its projects. They spend the bear market mostly focused on gaming assets. With their Airdrops and games, they kept the attention of the community, and while floors lowered of several collections like Mutant Apes, more and more people joined the Yuga family. The most stable collection under their umbrella turned out to be CryptoPunks. The famous pixelated PFP collection still holds a steady floor above 44 ETH. The BAYC and MAYC collections sit at 26 ETH and a 5 ETH floor, which is nothing to be ashamed of either. Even tho they once sold at 140 ETH (BAYC) and 40 ETH (MAYC), they are still the most traded and recognizable collections. If you still can’t afford an Ape, you can try to win this Gold BAYC (valued at 400 ETH) with a spin of $34 on Rollbit by clicking the image below. We’re always following Yuga and what they are up to. So you can expect more content in the future when they announce their new games or potential new airdrops.
NFT Bear Market over?
Nobody can predict the future. We can’t even be sure if JPEGs will ever sell for millions ever again. However, ask yourself this. If altcoins, memecoins, Ponzi’s rug pulls, shitcoin,s etc come back every cycle, why won’t NFTs? If you enjoy our content, you can support us by signing up for a Bybit Account with our referral link. Don’t forget to claim your bonuses if you buy/sell or trade crypto.