Non-fungible tokens (NFTs) have boomed this year, and several investors are on the lookout for the best NFTs to invest in as the ecosystem gains traction.
The explosive growth of the NFT market has opened new investment opportunities in the nascent sector. This article explores some of the best NFTs to invest in for huge profits as the year ends.
1. Decentraland (MANA)
In the world of NFTs and Metaverses, Decentraland has quickly established itself as a prime destination for the virtual reality experience. Based on the Ethereum blockchain, Decentraland allows users to create, share, and monetise content and applications in a decentralised manner.
Decentraland is one of the key cogs in the metaverse discourse and the best NFT to invest in based on the growth trajectory in the past three weeks.
The asset has shown strong bullish potential and broke through the $1.56 resistance price six months ago. Now, the metaverse protocol seems to set new all-time highs (ATHs) almost daily.
Currently, Decentraland’s governance token MANA is trading at $5.1673, up an astonishing 23.67% in the past day and 60% in the last seven days.
This price gain is even more remarkable when considering the year-to-date (YTD) increase of the asset. The YTD increase stands at 6,573.74%, and a 12-month trailing increase of 5560.45% shows that the protocol has been on a tear all year long.
Decentraland’s strong price gains have largely stemmed from the growing use case of the protocol. In the past week, Decentraland welcomed the Government of Barbados into its ecosystem. Yesterday, the protocol also announced a metaverse land purchase worth over $2.4 million by the Metaverse Group and Tokens_com.
This purchase is reportedly the largest metaverse land sale ever, making Decentraland one of the best NFTs to invest in, given the strong potential of the asset.
2. The Sandbox (SAND)
The Sandbox is also a close competitor in the metaverse race, and the asset has proven to be one of the best NFTs to invest in this month. The NFT based protocol, which is set to launch a beta Alpha event at the month, has doubled its November 1 price of $1.57.
The ERC-20 token recently hit a new record value a few hours earlier of $7.22, following surging interest in the digital asset. At press time, The Sandbox’s utility token SAND is still maintaining an uptrend and trades at $6.7553, up 25.96% on the daily trading chart.
Weekly gains of 79.13% show strong bullish backing, while a YTD increase of 18,827.17% indicates that SAND is one of the NFT tokens expected to make a serious upward movement.
The Sandbox team has moved to enable more mainstream adoption of NFTs by partnering with a legacy fintech company, Request Finance, to provide fiat-to-crypto conversion.
According to a tweet on the partnership, Request Finance will process all SAND payments across the network.
3. MyNeighbor Alice (ALICE)
MyNeighbor Alice is one of the best NFTs to invest in this metaverse-centred bullish run. The protocol built on the Ethereum network is an online multiplayer builder game that allows players to buy and own virtual lands, collect and build new projects and connect with others.
The asset slated to launch in Spring of 2022 has been on a tear following a surge in interest. At press time, the ALICE token is trading at $26.33, up 15.32% in the past day.
ALICE has been up 89.82% in the past week with a strong bullish back. This increase puts the digital asset high above the 20-day moving average (MA) support price of $16.36. The 14-day relative strength index (RSI) of 77.62 shows that the digital token is trading in the overbought region.
ALICE’s strong price gains have had little push from the fundamental growth of the ecosystem. The blockchain protocol recently launched an $80 million metaverse grant in collaboration with the Chromia ecosystem, and this project is expected to spur more interest in NFTs and the metaverse.
4. Axie Infinity (AXS)
Axie Infinity remains the star of the show in the blockchain game niche. Axie Infinity which was launched in 2018, is a play-to-earn (P2E) gaming platform that has taken the crypto world by storm.
The appeal largely lies in the fact that players become partial owners of the game through their ownership of NFTs called Axies. Each Axie comes with unique features that players can upgrade after every successful battle with experience points (XPs).
The Axie Infinity protocol has shown strong bullish potential and has surged 26,459.48% YTD, detailing that AXS is one of the best NFTs to invest in.
The digital token is trading at $142.98, up 6.04% in the last 24 hours. However, AXS is trading slightly above the 20-day MA price of $142.26, indicating a growing bullish sentiment. Axie Infinity’s Ronin Chain recently integrated with Covalent, a blockchain-focused firm.
5. Enjin Coin (ENJ)
The Enjin network has remained one of the best NFTs to invest in, given the protocol’s strong appeal to gamers. The asset which enables an interconnected ecosystem where users can easily create websites, clans, and trade in-game has been on a tear lately.
The low-cost protocol has spiked up 14.14% and currently trades at $4.390, reflecting a growing bullish backing. Weekly gains are even more impressive at 45.59%, with a YTD increase of 3,282.14%, showing a steady climb in its value.
Enjin’s recent climb in price has been through a strategic move into the popular heterogeneous network Polkadot. In a November 19 tweet, the Enjin network announced a crowload for launching as a parachain on the Polkadot ecosystem. According to the tweet, stakers will be rewarded limited edition NFTs and share 10% of the EFI token supply.