Forgotten Altcoins Make a Comeback: What Developers Are Prioritizing in the NFT Space
The NFT boom of 2021 has long since faded, leaving many NFT-related altcoins overlooked in the bustling cryptocurrency market. Yet, recent insights from cryptocurrency analytics firm Santiment reveal that some of these “forgotten” tokens are regaining attention from developers, hinting at a potential revival of the NFT space.
Developers’ Focus on NFT-Related Altcoins
NFT altcoins, once the darlings of the crypto world, have seen their influence wane in the face of other emerging trends. However, Santiment’s latest analysis provides a compelling snapshot of where developer interest lies today. The firm tracked the activity of crypto developers over the last 30 days, revealing the top NFT-related projects still capturing attention:
- Decentraland (MANA) – 93.83 developer score
Leading the list, Decentraland maintains its dominance as the most actively developed NFT altcoin. Known for its virtual reality metaverse, Decentraland continues to attract innovation, making it a consistent favorite among developers. - Flow (FLOW) – 68.17 developer score
In second place, Flow retains its position as a popular blockchain for NFTs, particularly for high-profile collaborations in sports and entertainment. - Metaplex (MPLX) – 23.93 developer score
Rising from fourth place, Metaplex takes the third spot this month, signaling renewed interest in its decentralized NFT infrastructure. - Enjin Coin (ENJ) – 20.9 developer score
A key player in gaming NFTs, Enjin Coin slipped to fourth place but remains a cornerstone of NFT-based innovations in gaming and virtual collectibles. - Artificial Superintelligence Alliance (FET) – 18.93 developer score
Fetch.ai’s focus on AI-powered blockchain solutions has kept it relevant, even as NFTs evolve beyond traditional use cases. - Origin Protocol (OGN) – 18.73 developer score
Known for its NFT marketplace and decentralized commerce tools, Origin Protocol continues to make strides in the NFT space. - Immutable X (IMX) – 17.07 developer score
Immutable X holds its ground as a scalable solution for Ethereum NFTs, reflecting developers’ continued interest in gas-free transactions. - Axie Infinity (AXS) – 10.2 developer score
Despite its massive decline from peak popularity, Axie Infinity remains a focal point for developers exploring NFT-based play-to-earn mechanics. - Tensor (TNSR) – 3.73 developer score
A lesser-known project, Tensor’s appearance signals niche developer interest in emerging NFT solutions. - DeFi Yield Protocol (DYP) – 2.9 developer score
Combining DeFi and NFTs, Yield Protocol rounds out the list with a modest yet noteworthy developer presence.
A Shifting Landscape for NFT Altcoins
The data reveals that Decentraland and Flow have retained their top positions from the previous month, showcasing their enduring appeal to developers. Meanwhile, Metaplex’s rise to third place highlights the growing interest in decentralized tools for NFT creation and management. However, Enjin Coin’s slip to fourth position underscores the competitive and evolving nature of the NFT ecosystem.
Will NFTs Regain Their Former Glory?
While NFTs and their associated altcoins may no longer dominate headlines, there is a growing belief among industry insiders that they could make a comeback. Developers’ renewed focus on these projects indicates confidence in the long-term viability of NFTs and their applications. Whether it’s the metaverse, gaming, or decentralized marketplaces, these tokens still hold the potential to redefine the crypto space.
Conclusion: Developers Signal a Possible NFT Renaissance
Santiment’s developer activity rankings shed light on the evolving priorities within the NFT space. With consistent leaders like Decentraland and Flow and rising stars like Metaplex, it’s clear that developers are still invested in the future of NFT-related altcoins.
While investor caution remains warranted, the growing activity around these projects suggests that the “forgotten altcoins” of today may be the breakout stars of tomorrow. As the NFT ecosystem continues to mature, these tokens are worth keeping an eye on.
This article is for informational purposes only and does not constitute investment advice.
