The crypto market has been a revelation, and ecosystems like non-fungible tokens (NFTs) have also boomed. This rise has seen several investors searching for what is hot on NFT token markets to buy and hold for the long term.
While the crypto market is seeing major price slashes, NFT coins have been an exception, with most of them posting major gains as the nascent industry looks to shift gears.
Below are five hot NFT coins with strong growth potential that you can add to your portfolio.
1. Decentraland (MANA)
Starting the hot NFT coins list is the metaverse king Decentraland. The Ethereum-based protocol has seen several adoptions, which has helped the ERC-20 token surge in value.
Decentraland’s governance token MANA which was trading below $1 a month ago has rallied more than 550% in the past month. This increase sees the digital asset trading at $5.4045 at press time, with a 24-hour increase of 8.61%.
This performance shows a price retracement of 9.3% from its recent all-time high (ATH) of $5.85 only two hours earlier. The weekly gains of the asset are also impressive as MANA has surged by over 43% in the last seven days.
The Year-to-date (YTD) record shows that MANA has grown 6,813.84%, indicating that MANA is one of the hot NFT coins investors should buy now.
On fundamentals, Decentraland is hosting the foremost MetaParty today. This event will see participants earn Exodus MetaSoldier NFTs.
The Sandbox (SAND)
The Sandbox is another hot NFT coin making the round in the past few weeks. The metaverse token, which is scheduled to launch a public Alpha event at the end of November, has been hitting major highs in the past few days.
The Sandbox’s SAND currently trades at $7.2644, up 7.98% in the last 24 hours. This rise is reflected in the weekly gains of 68.97% and a monthly surge of 777.24%.
With such strong growth potential, SAND is currently soaring above the 20-day moving average (MA) price point of $3.7880 with the 14-day relative strength index (RSI) figure of 84.99, denoting that the digital asset is trading in the overbought region.
The YTD increase of 20,305.04% shows that SAND is one of the hot NFT coins you should add to your crypto portfolio for the near future as growing adoption lends credence to the protocol’s long term success.
In a recent tweet, The Sandbox-based Metaflower Super Mega Yacht NFT reportedly sold for $650,000. This purchase makes it the most expensive NFT sold on The Sandbox metaverse.
3. Enjin Coin (ENJ)
Enjin Coin may be posting modest rallies, but it is still one of the hot NFT coins to look out for. Based on the Ethereum network, Enjin enables users to do a multitude of things on its protocol. Users get to create and design websites, clans, share and also trade in-game assets.
The Enjin protocol aims to build an interconnected ecosystem for gamers. The asset has been one of the most sought after NFTs in the crypto ecosystem at the moment.
This popularity has seen the price of the digital token pick up steam, with the 53rd placed crypto asset hitting a new all-time high (ATH) of $4.82.
Currently trading at $4.208, Enjin’s governance token ENJ is down 2.54% at press time and 10.49% from its ATH. This figure does not in any way affect the ERC-20 token’s long term growth by the way.
YTD spike saw ENJ surge 3,141.48% from January till now, with the 12-month trailing increase pegged at 2,873.14%.
ENJ’s recent astronomical rise is the sequel to a key strategic move in the past few days. The protocol announced a crowdloan funding that is targeted at launching its Efinity Network on the Polkadot ecosystem.
According to the posted tweet, the project will issue out limited-edition NFTs and share 10% of the EFI token supply for those who join the crowdloan efforts for a parachain spot.
4. Gala (GALA)
Gala protocol is a little known project but is one of the hot NFT coins in the metaverse ecosystem. Trading under $1, the Gala protocol has piqued investors’ interest after surging 57.49% in the last 24 hours.
This increase has seen NFT project snap up a 0.18% market share coupled with a new ATH of $0.733906 a few hours earlier. At press time, GALA is trading at $0.63323. Weekly gains are even more conspicuous as the project has surged 152.91% in the last seven days.
The recent chain of events that have sparked interest in the metaverse and Gala has seen growing adoption of its token through listings. In a tweet, the metaverse protocol announced the listing of its play-to-earn (P2E) town builder game token $TOWN on Bitrue. This development will likely fuel investor interest in the project.
5. Chiliz (CHZ)
Chiliz has remained one of the hot NFT coins this year, largely due to the protocol’s strong fundamentals.
The sports and entertainment-focused protocol has signed major partnerships with some of the world’s biggest sporting and entertainment brands.
A slew of partnerships have been recorded alone this month, with National Basketball Association (NBA) team Denver Nuggets penning a fan engagement deal with the protocol. Alongside this, French football giant AS Monaco has also recently signed a partnership with Chiliz to launch its $ASM Fan Token.
These integrations have seen the CHZ token make new record highs, with the digital asset up 4.67% and trading at $0.4801 on the daily trading chart. Even more promising is the monthly gain of 41.08%, which shows a strong bullish presence.
Where to Buy Hot NFT Coins
While interest in NFTs is booming, only a few reputable crypto brokers offer the best level of exposure to digital assets. One such is eToro which offers low fees and CopyTrade abilities to copy other traders’ successful trades.
Additionally, the platform is regulated by some of the top tier-1 global bodies, making eToro a safe place to buy hot NFT coins.