In 2021, alongside the sudden surge of interest in play-to-earn games through Axie Infinity, another Web3 industry also flourished. The rise of digital artworks, or non-fungible tokens (NFTs), brought a transformative change to the digital economy, merging art, technology, and ownership. In fact, the Hiscox Online Art Trade Report revealed that NFT sales of crypto art and collectibles hit an estimated $3.5 billion in September 2021.
In this article, BitPinas takes a look back at some of the most sought-after NFT collections during the market boom and examines how much their value has declined since their peak.
What are NFTs?
A non-fungible token is a digital asset that certifies ownership or authenticity of a unique item or content, typically secured on a blockchain. Unlike cryptocurrencies, which are identical and interchangeable (fungible), NFTs are distinct and cannot be swapped on a one-to-one basis, making them “non-fungible.”
- At its peak, NFTs shifted the creative and financial landscapes. They enabled artists and collectors to tokenize and trade digital assets on the blockchain and allowed known brands and personalities to launch digital assets with perks.
- However, after skyrocketing in popularity, NFTs saw a sharp decline, especially during the bear market following 2021. Oversupply, fading hype, regulations, and technical issues caused prices to drop and interest to wane. While some projects remain, the NFT craze has mostly died down.
As of 2025, the term “NFTs” is no longer as prominent as it once was. While there are still artists and firms launching collections, they now represent a niche part of the digital economy rather than a mainstream sensation. Moreover, the once high-valued collections—even amounting to millions of dollars when converted to fiat—have significantly dropped in price.
Top NFT Collections: Then and Now
Cryptopunks
What is it:
Advertisement
CryptoPunks is one of the first and most iconic NFT collections, featuring 10,000 unique pixel-art characters on the Ethereum blockchain. CryptoPunks are 24×24 pixel art characters created through an algorithm. While most feature punk-style men and women, some rarer variations include apes, zombies, and even aliens.
It was originally given away for free in 2017, but it was later sold for millions. Over the years, CryptoPunks have been showcased in major auctions, such as at Christie’s and Sotheby’s, and added to prestigious art museums like ICA Miami and Centre Pompidou.
In 2022, luxury jeweler Tiffany & Co. partnered with CryptoPunks to launch NFTiffs, a limited collection of 250 digital passes exclusive to CryptoPunk holders. Each NFTiff cost 30 ETH (around $51,000 at the time) and allowed buyers to mint a customized pendant crafted from 18-karat gold, designed to match their CryptoPunk.
Peak price: According to the cryptopunks website, the highest price paid for a CryptoPunk was $23.7 million (8,000 ETH) for CryptoPunk #5822, a rare “alien” punk sold on Feb. 12, 2022.
Current floor: As of March 31, the price floor for CryptoPunks is 42.59 ETH (around $76,600), with a 24-hour sales volume of 163.70 ETH (approximately $294,500), according to Magic Eden.
Plunge percentage: The price of CryptoPunks has dropped by approximately 99.68% from its peak to the current floor price.
Other metrics: Crypto data aggregator CoinGecko noted that, as of March 31, there are a total of 9,994 NFTs minted, held by 3,851 unique owners, with a total market cap of $765,896,111.
Bored Ape Yacht Club
What is it:
The Bored Ape Yacht Club (BAYC) is a collection of 10,000 unique NFTs featuring cartoon apes with various traits. Launched in April 2021 by Yuga Labs, the collection quickly became one of the most famous NFT projects, attracting celebrities such as Justin Bieber, Eminem, and Stephen Curry, as well as major brands like Adidas.
BAYC NFTs serve as membership passes, granting holders access to exclusive perks like private events, a community Discord, and branding rights.
The project later expanded into an ecosystem that includes:
- ApeCoin (APE): A governance and utility token
- Mutant Ape Yacht Club (MAYC) and Bored Ape Kennel Club (BAKC): Spin-off NFT collections
- Otherside Metaverse: A virtual world in development where NFTs will be playable
Peak price: The highest paid price for a BAYC NFT occurred in September 2021, when a solid gold Bored Ape was auctioned on Sotheby’s NFT marketplace for $3.4 million.
Current floor: As of March 31, the BAYC floor price is 14.1 ETH (around $25,451), with a 24-hour sales volume of 164.82 ETH (around $296,500).
Plunge percentage: BAYC NFTs have lost over 99% of their peak value.
Other metrics: As of March 31, CoinGecko reports 9,998 NFTs minted, held by 5,522 unique owners, with a total market cap of $254,459,665.
Pudgy Penguin
What is it:
Pudgy Penguins is a collection of 8,888 unique cartoon penguin NFTs, launched on July 22, 2021. It sold out in just 19 minutes at 0.3 ETH per mint. The project was initially founded by four college students but faced setbacks due to unfulfilled promises. In April 2022, Luca Netz acquired the collection for $2.5 million and led a successful rebrand.
Pudgy Penguins owners, known as “The Huddle,” gain access to exclusive events, meetups, and branding opportunities. Holders can also license their NFTs for marketing purposes.
Recently, the collection is having an IRL relevance as its Walmart-exclusive Pudgy Penguins plush toy, Beach Vacation Dude, has gone viral, with fans praising its design and hidden digital perks. Moreover, on March 20, Canary Capital filed with the SEC to launch an ETF focused on the Pudgy Penguins ecosystem, including PENGU, NFTs, Ethereum, and Solana.
Peak price: The most expensive Pudgy Penguin, #6873, was first sold for 225 ETH ($775,000 at the time) on Sept. 8, 2021. It was later resold for 400 ETH ($650,000 in fiat) on Aug. 22, 2022.
Current floor: As of writing, the Pudgy Penguins floor price is 9.96 ETH (around $17,954.83), with a 24-hour sales volume of 120.06 ETH (approximately $216,000).
Plunge percentage: The floor price has dropped by approximately 97.51% in ETH from its peak sale of 400 ETH.
Other metrics: Pudgy Penguins are currently held by 5,119 unique owners, with a total market cap of $159,582,570.
Taproot Wizard
What is it:
The Taproot Wizards NFT collection consists of 2,108 digital collectibles on the Bitcoin blockchain, inspired by the 2013 “Bitcoin Wizard” meme.
As part of the Bitcoin Ordinals ecosystem, it uses inscription technology to embed data directly onto Bitcoin, enabling NFTs on a network not typically used for them.
Peak price: On March 25, 95% of the whitelisted NFTs were sold, leaving only 90 available for public auction. The Wizards were reportedly sold for between 0.1 BTC (around $8,200) and 0.2 BTC (around $16,000). The sale generated an estimated 166 to 332 bitcoins ($14 million to $28 million) for the Bitcoin Ordinals project.
Current floor: The current floor price is approximately 68.7% higher than the minimum peak price (0.1 BTC) but has decreased about 15.65% from the maximum peak price (0.2 BTC).
Push percentage: Unlike most collections, Taproot Wizards NFTs have increased by approximately 68.7% from their minimum peak price.
Other metrics: According to CoinGecko, there are 2,108 NFTs minted, held by 1,573 unique owners, with a total market cap of $29,003,270.
Mad Lad
What is it:
Mad Lads is a collection of 10,000 xNFTs (executable NFTs) on Solana, featuring illustrated human profile pictures. Unlike regular NFTs, xNFTs contain code that enables execution rights.
Created by Coral, the team behind the Backpack wallet, the project is credited with revitalizing Solana NFTs. Launched on April 20, 2023, with a mint price of 6.9 SOL, the collection sold out in minutes.
As xNFTs, Mad Lads offer unique utilities, including integration with Web3 applications and games.
Peak price: In April 2023, Mad Lads #2968 was sold for 3,625 SOL, amounting to $74,742.08.
Current floor: The current floor price is 511.5 SOL (approximately $6,400), with a 24-hour sales volume of 746.1 SOL (around $92,800).
Plunge percentage: The current floor price has dropped by approximately 91.44% from its peak.
Other metrics: The collection has 9,966 NFTs minted, held by 6,398 unique owners, with a total market cap of $63,455,026.
Milady
What is it:
Milady Maker is a collection of 10,000 profile picture NFTs with a neochibi street-style aesthetic. Launched in March 2021 at 0.05 ETH per NFT, it gained popularity through Twitter memes.
In May 2023, Elon Musk’s tweet featuring a Milady meme caused a price surge. Also last January, the collection made the headlines as Vitalik Buterin, Ethereum co-founder, endorsed the project.
Peak price: According to Forbes, the collection reached a peak price of $23,484 (around 13 ETH) in December 2024.
Current floor: As of writing, the floor price is 3.3 ETH (approximately $6,000), with a 24-hour sales volume of 69.15 ETH (around $124,900).
Plunge percentage: The collection has declined approximately 74.6% from its peak.
Other metrics: Milady Maker has a market cap of $59,955,084. There are 9,978 NFTs minted, held by 5,432 unique owners.
Doodle
What is it:
Doodles is a 10,000-piece generative NFT collection featuring colorful cartoon characters and backgrounds. Launched on Oct. 17, 2021, at a mint price of 0.123 ETH, it introduced an innovative approach to community building by limiting Discord access before launch to whitelisted users.
The project was created by artist Scott Martin (Burnt Toast), alongside co-founders Evan Keast (Tulip) and Jordan Castro (Poopie), who previously worked with Dapper Labs, the team behind CryptoKitties.
Doodles owners get exclusive access to events and influence over the ecosystem through voting on community decisions such as product launches and donations.
Peak price: The rare Golden Ape Doodle was sold for $1.1 million in January 2022.
Current floor: The current floor price is 2.9 ETH (around $5,300), with a 24-hour sales volume of 81.91 ETH (around $148,000).
Plunge percentage: Doodles have dropped approximately 99.52% in value from their peak.
Other metrics: There are 9,998 Doodles NFTs minted, owned by 3,955 unique holders, with a market cap of $53,258,555.
Azuki
What is it:
Azuki is a collection of 10,000 anime-style NFT avatars often used as profile pictures. Launched on Jan. 12, 2022, it was sold through a Dutch auction, with most NFTs going for 1 ETH within minutes.
Holders gain access to “The Garden,” which includes streetwear collaborations, early NFT releases, and exclusive events. The project expanded to include companion NFTs like BEANZ and the Bobu governance token. In January 2023, Azuki introduced Hilumia, a gamified metaverse with interactive locations.
Current floor: The current floor price is 2.6 ETH (approximately $4,700), with a 24-hour sales volume of 70.09 ETH..
Plunge percentage: Azuki’s price has dropped 99.38% from its peak.
Other metrics: The total market cap is $47,161,175. There are 10,000 NFTs held by 4,269 unique owners.
This article is published on BitPinas: Then vs. Now: Top NFT Collections and How Much Their Prices Have Crashed Since 2021
What else is happening in Crypto Philippines and beyond?
