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.
Given this, more projects are coming onboard and a few NFT-facing protocols have remained in the spotlight even as the larger crypto ecosystem struggles with the bears.
This article explores some of the best NFT to invest in for huge profits as the year rolls to an end.
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 monetize content and applications in a decentralized 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.
Decentraland has shown strong bullish potential and has broken through the $1.56 resistance price of six months ago. Now, the metaverse protocol seems to set new all-time highs (ATHs) almost on a daily basis. At press time, 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 taking into cognizance the year-to-date (YTD) increase of Decentraland. This 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 the protocol appeals to. 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 is reportedly the largest metaverse land purchase ever making Decentraland one of the best NFTs to invest in given the strong potential.
2. The Sandbox (SAND)
Also a close competitor in the metaverse race, The Sandbox has proven to be one of the best NFTs to invest in this month. Set to launch a beta Alpha event in the tailend of the month, The Sandbox has seen remarkable growth and has grown more than double 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% shows strong bullish backing while a YTD increase of 18,827.17% shows that SAND is one of the NFT tokens with serious upside movement expected.
Looking to enable more mainstream adoption of NFTs, The Sandbox team has partnered with legacy fintech company Request Finance to enable fiat-to-crypto conversion. According to the tweet, Request Finance will be tasked with the responsibility of processing 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. Also built on the Ethereum network, the protocol is an online multiplayer builder game that allows players to buy and own virtual lands, collect and build new projects as well as connect with others.
Slated to launch in Spring of 2022, MyNeighbor Alice has been on a tear following a surge in interest surrounding NFT-focused efforts. At press time, the ALICE token is trading at $26.33, up 15.32% in the past day. ALICE is up 89.82% in the past week with a strong bullish back. This 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. This is expected to spur more interests in NFTs and the metaverse as a whole.
4. Axie Infinity (AXS)
In the blockchain game niche, Axie Infinity remains the star of the show. Launched as far back as 2018, Axie Infinity 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 get to be partial owners of the game through their ownership of NFTs called Axies. Each Axie comes with unique features which players can also 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. At press time, the digital token is trading at $142.98, up 6.04% in the last 24 hours. Despite this, 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 its strong appeal to gamers. Enabling an interconnected ecosystem where users can easily create websites, clans, and trade in-game assets ENJ 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 as well as get to share 10% of the EFI token supply.