Original article: Lim Yu Qian, CoinGecko

Compiled by: Nancy, PANews

Recently, Coingecko released an NFT research report. After analyzing the overall profits (realized and estimated unrealized) of the top 100 Ethereum NFT traders in the NFTGO rankings, it was found that the top 15 NFT traders have accumulated profits of US$299 million, with the main profits coming from blue-chip NFTs such as CryptoPunks, Art Blocks, Bored Ape Yacht Club and Meebits.

The following is the original text:

Are NFTs a good investment?

So far, top NFT traders have made profits ranging from 5,221 ETH to 55,291 ETH from investing in Ethereum NFTs, which is worth $9.6 million to $101.63 million at the time of writing (when the ETH price was about $1,838). Although NFT tycoons have made huge profits through NFTs, it does not mean that ordinary investors can replicate the same returns. In addition to skilled skills, it also requires good timing and luck.

In terms of realized profits, an NFT trader named SethS ranked first, earning a total of 55,291 ETH (worth $101.63 million at the time of writing). These profits were more than three times that of the second place, accumulated from 9 different addresses, holding a large number of CrytoPunks and CrytoPunks V1; followed by Punks OTC, with a profit of 15,838 ETH (worth approximately $29.11 million); Mr.703 followed closely with a profit of 14,624 ETH, becoming the third most profitable NFT trader.

From the perspective of profit strategies, the top 15 NFT traders made more than 94.5% of the profits from Larva Labs, Yuga Labs and Art Blocks blue-chip NFT series. Among them, CryptoPunks accounted for 70.6% of the profits, ranking first; the generative art project Art Blocks ranked second in the top traders' profits, accounting for 12.2%; followed by BAYC and Meebits with 5.5% and 3.4% respectively.

Among them, 11 NFT traders have made millions of dollars from their investment in CryptoPunks, and 8 of them have made more than half of the profit. It is worth mentioning that the trader named "0x7eb2..3f6b" made a profit of 7992 ETH just by selling CryptoPunk#5822to Chain CEO Deepak, ranking fifth. CryptoPunk#5822is also one of the most expensive NFTs ever. However, NFT traders 0xef6d..4a74, Jimmy McNelis, Akira and Rudy Adler do not seem to pay much attention to CryptoPunks.

In addition to CryptoPunks, five NFT traders have also made millions of dollars in profits through Art Blocks. Among them, a trader named "Akira" earned 5,984 ETH from the generative art project alone; followed by Wealthsimple founder Rudy Adler, who earned 5,320 ETH from Art Blocks, and 0xef6d..4a74, who earned 4,656 ETH.

In addition, only three NFT traders have made millions of dollars from their investments in BAYC. In addition to NFT collector Jimmy McNelis (aka j1my) who made a profit of 3030 ETH, Franklin (@franklinisbored) and Pranksy made profits of 2616 ETH and 2265 ETH respectively.

Overall, the above report also shows that top NFT traders often make profits by betting on blue-chip NFTs at low prices in the early stages, which also shows that NFTs are only suitable for a small number of investors who can keenly identify blue-chip potential stocks, or those NFT investors who can make diversified investments.