5 NFTs that have gained a huge amount of value in the past year

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Three pixilated, cartoon images, of a man's head, a cat's head and a green alien. — Which NFTs have been the biggest winners in the past year?

One of the defining characteristics of NFTs is their remarkable volatility.
Yet, whether they truly have value remains a highly speculative matter as the NFT space continues to mature.
In the second part of our two-part series, we'll look at 5 NFT collections that have seen a substantial increase in floor price between April 2022 and October 2023.

There has been a lot of talk lately about the "death" of NFTs. In part 1 of this two-part series, we took a look at some of the NFTs that have seen the biggest decrease in floor price over the past year. One report looking at more than 73,000 NFT collections found that the vast majority had a market cap of 0 ETH. Despite this, many institutions argue that NFTs are not dead, they have simply seen the market mature, or that many sellers are waiting for another boom.

In fact, estimates show that the NFT market is expected to reach $3.2 billion by 2027, rising from just $1.6 billion in 2023. Whether this occurs or not is still speculative, but it is clear that not every NFT has lost value.

What is the NFT floor price?

As a reminder, or if you have not yet seen part 1, the NFT floor price represents the minimum selling price within a collection.

In simpler terms, NFT floor prices help market participants assess the fair market value of an NFT project at the collection level.

NFTs that gained significant floor price value in 2023

In this listicle, we'll delve into a selection of NFTs that have witnessed significant changes in their floor prices from around April 28, 2022 (1 ETH ≈ 2,888.85 US dollars) to October 8, 2023 (1 ETH ≈ 1634.66 US dollars).

It's important to note that while floor prices have fluctuated significantly, the overall dollar impact may vary due to changes in the value of Ethereum during this period.

Keep in mind, this is not a judgment of whether NFTs are "good" or "bad", or whether the NFT space is dead or heading for a boom, but a look at the changing landscape of digital collectibles.

1. Chromie Squiggle: 5.99 ETH to 9.55 ETH (59%)

Various 'signatures' of the Chromie Squiggle NFT collection showing floor prices at the time of writing (Oct 2023).

OpenSea

The Chromie Squiggle NFT collection, by digital artist Snowfro, comprises 10,000 unique pieces. Slightly more than 9,600 are already in existence, while the remaining ones are set for distribution at a later date. These NFTs are characterized by their multicolored doodle-like appearance, which is generated at the moment of purchase.

From April 2022 to October 2023, Chromie Squiggle's floor price witnessed a substantial 59% increase, climbing from 5.99 ETH ($17,300) to 9.55 ETH ($15,621.79).

However, it's worth noting that despite this impressive boost in the NFT collection's floor price, Ethereum's value experienced a decline during this period, as indicated by historical data from Coinmarketcap. As a result, the net difference shows a decrease of approximately $1,700.

2. Beeple Genesis: 95 ETH to 200 ETH (~110%)

The Beeple Genesis NFT collection, crafted by the digital artist Beeple, comprises 102 distinct digital items residing on the Ethereum blockchain.

This artwork harmoniously fuses lively visuals, surreal imagery, and a futuristic style, blending aspects of pop culture, technology, and social commentary to generate a sense of whimsical social critique.

From April 2022 to October 2023, Beeple Genesis experienced a substantial increase in floor price value, rising from 95 ETH ($274,800) to 200 ETH ($326,900).

Considering the fluctuations in Ethereum's value during this time frame, as provided by historical data from Coinmarketcap, this increase translates to approximately $52,000.

3. Gazers by Matt Kane: 5 ETH to 12 ETH (140%)

Gazers NFT collection consists of 1,000 unique digital items on the Ethereum blockchain. Artwork is described as a moon phase calendar to celebrate crypto art, astronomy, color theory, and generative art.

As documented by NFTpricefloor, Gazers by Matt Kane witnessed a notable increase in floor price value, rising from 5 ETH ($14,400) to 12 ETH ($19,600) between April 2022 and October 2023. This shift in value translates to a difference of approximately $5,100.

4. Pudgy Penguins: 1.78 ETH to 4.89 ETH (175%)

Various digital penguins of the Pudgy Penguin NFT collection showing floor prices at the time of writing (Oct 2023).

OpenSea

Pudgy Penguins NFT falls under the niche of Profile Picture NFTs. It's a collection of 8,888 uniquely generated penguin NFTs on Ethereum with over 150 different traits for features such as mouths, faces, eyes, skins, and backgrounds.

As reported by NFTpricefloor, the value of Pudgy Penguins experienced a significant increase, rising from 1.78 ETH ($5,100) to 4.89 ETH ($8,000) between April 2022 and October 2023. This shift in value corresponds to an increase of approximately $2,900.

5. Kanpai Pandas: 0.09 ETH to 0.72 ETH (700%)

Various digital pandas of the Kanpai Panda NFT collection showing floor prices at the time of writing (Oct 2023).

OpenSea

The Kanpai Panda collection includes 10,000 hand-drawn NFTs found on multiple chains like Ethereum, BNB, Polygon, AVAX, Fantom, Arbitrum, and Optimism.

The floor price value of Kandai Pandas jumped from 0.09 ETH ($259) in April 2022 to 0.72 ETH ($1,100) in October 2023, marking an increase of $910. While this might not sound overly thrilling at first, consider that this represents an astonishing 700% increase in the floor price.

Can you imagine what this would have translated to currency-wise if Ethereum's value stayed stable?

That wraps it up for today. Don't forget that these floor prices may well have changed drastically since the time of writing. After all, that's just the current nature of the NFT landscape —the roller coaster ride is far from over as this space continues to evolve.

If you missed Part 1, where we delved into six NFT collections that saw substantial floor price reductions between April 2022 and October 2023, you can catch up right here.