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    March NFT Sales: Is The Bull Gone?

    This month is giving us mixed signals like our toxic exes. Some projects are pumping, others are dumping. If you look at one side, you’d say we’re in the thick of the bull market. But, if you look at the other side, you’d say the bull is nowhere to be found. From collapses to hacks, this month has seen it all. So, what do the March NFT sales indicate? 

    Top March NFT Sales

    1- Urbit ID #236 – 450 ETH ~ $814.4KURBIT ID NFT

    2- BAYC #5116 – 440 ETH ~ $796.3KBAYC #5116

    3- Fidenza #971 – 380 ETH ~ $687.7KFidenza #971 March NFT Sales

    4- Fidenza #395 – 350 ETH ~ $633.4KFidenza #395 MARCH NFT SALES

    5- BAYC #2062 – 318 ETH ~ $575.5KBAYC #2062

    6- Urbit ID #42 – 225 ETH ~ $407.2KURBIT ID NFT

    7- CryptoPunk #6036 – 209.95 ETH ~ $379.9KCryptopunk #6036 March NFT Sales

    8- Otherdeed for Otherside #2118 – 208 ETH ~ $376.4KOtherdeed for Otherside #2118

    9- Azuki #5070 – 189.69 ETH ~ $343.3KAzuki #5070

    10- Urbit ID #52 – 177.45 ETH ~ $321.1KURBIT ID NFT

    The top March NFT sales are dominated by Urbit ID, Fidenza, Azuki, and Yuga. We’ll be covering Azuki and Yuga in what follows. Meanwhile, let’s focus on Urbit ID and Fidenza.

    What’s Urbit ID NFT?

    Urbit ID NFT is a non-fungible project reflecting the Urbit clean-slate OS and network ecosystem. Each NFT within the collection acts as a unique identifier that allows its owners to interface with the Urbit OS. It lets you send and receive crypto payments. 

    There are three different Urbit ID NFT collections:

    What’s Fidenza?

    Fidenza is an NFT collection of generative art by Tyler Hobbs. This art uses an interesting way to evaluate the quality of generative algorithms and create something that touches people. 

    Fidenza also made an appearance on last month’s top NFT sales. It currently stands at a 66 ETH floor price and 57,671 ETH total sales volume on OpenSea.

    Leading March NFT Collection Sales 

    We saw the top March NFT sales for individual NFTs. Now is the time to see the overall collections’ performance this month. 

    March NFT Sales OpenSea 30D

    1. Wrapped cryptopunks
    2. MAYC
    3. Otherside
    4. BAYC
    5. Azuki
    6. Moonbirds
    7. Doodles
    8. BAKC
    9. MG Land
    10. CloneX

    Yuga Labs Dominates The Space Once Again

    Yuga Labs is not only dominating the top March NFT sales but also the top March NFT collections. It is no surprise that Yuga is the web3 goat. This month, and every other month, they’re making insane sales, they’re launching new products, and they’re growing their community. 

    This month, they launched the summoning of the sewer pass NFTs. An HV-MTL collection currently sitting at a 1.98 ETH floor price and a 17,786 ETH in total sales volume. 

    Yuga has also announced a new 2D experience for other deed holders. Otherdeed otherside sits at 1.76 ETH floor price with a total sales volume of 569,193 ETH. Adding to that, their TwelveFold NFT auction recently raised $16.5 Million!

    So, if there’s anyone who knows what they’re doing here is Yuga. Despite the inevitable critiques they get, they’re always creating something for their holders. Community is key here. If you win over the community, you’re going to bag money. 

    Azuki Strengthening Their Bond With Community 

    Another project excelling in their community is none other than Azuki. Azuki has a fully planned-out ecosystem. A few days ago, they celebrated Beanz’s first anniversary. The cute beanz stand at a 1.48 ETH floor price with a total sales volume of 128,647 ETH

    Looking at Beanz’s price and sales chart for March, it’s relatively solid. There aren’t any insane drops per the data by NFTGo. On the other hand, the sales are consistent and we see an increase in sales and floor price at the end of the month. 

    Beanz Price And March NFT Sales

    Generally, the Azuki community is solid, and supportive and would defend Azuki without batting an eyelid. And, a lot of people continue to join Azuki until now. This just shows how the project continue to attract people years after its launch. 

    Falling March NFT Sales: Blue-Chips Drowning In Loss

    Yuga and Azuki have managed to lead in the March NFT sales and top collections. They’re blue chips holding their value and standing their ground. Unfortunately, that’s not the case for every other blue-chip project.

    Doodles, Moonbirds, and CloneX have tumbled down losing big time in terms of people and sales. We’ve already covered the fall of these blue chips in detail here. But, here’s a quick recap to put things into perspective: 

    Doodles

    Doodles NFT

    • Mint: 0.123 ETH
    • All-time high floor price: 24 ETH
    • 2023 ATH FP: 8 ETH
    • Current FP: 3.22 ETH

    Moonbirds

    Moonbirds NFT

    • Mint: 2.5 ETH
    • ATH FP: 34 ETH
    • 2023 ATH FP: 9.4 ETH
    • Current FP: 3.58 ETH

    CloneX

    CloneX NFT

    • Mint: 2 ETH
    • ATH FP: 19.2 ETH
    • 2023 ATH FP: 6.2 ETH
    • Current FP: 3.145 ETH

    There are multiple reasons behind these projects’ downfall. Mainly, overpromising and underdelivering, and continuously disappointing their communities. One thing we learn from these folks is, don’t let greed make you forget your people. They’re the ones who could make or break your project. 

    March Spotlight: NFT Projects Pumping

    Is The Market Okay Given These March NFT Sales?

    We’ve looked at the March NFT sales and some are good while others are not. But, how is the market doing? It’s also kind of mixed. Bitcoin has seen a notable increase this month alongside other cryptocurrencies. However, they did momentarily take a hit after the Silicon Valley Bank collapse. 

    But, the number of NFT collections this month has dropped from 80K from the beginning to the end of March. We can see that per the stats provided by IntoTheBlock.

    Created NFT collections in 2023

    Moreover, even the new addresses that used NFTs this month have seen a downturn. 

    Created NFT sales

    Therefore, one wouldn’t say the March NFT sales reflect the best month the NFT space has ever seen. In fact, the numbers in front of us make us a bit worried. It seems like last month was just a one-month thing. The bull might not be back, we might’ve lost it. Or, March could be another slow month. Silence before the storm. Check last month’s sales and let me know what you think. Is the bull gone? 

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