The NFT craze seems to be further away than ever. According to the data, the NFT market is going through difficult times. The NFT sales number in March was 31.42% lower than the previous month, which was already significantly lower compared to a year ago.
Ethereum continues to dominate the NFT market
The NFT market is facing tough times, with sales down $119 million in February, as reported by cryptoslam.io. Sales decreased from $1.03 billion in February to $882.89 million in March. Over the same period, the number of NFT buyers and transactions decreased by 22-29% month-over-month.
As expected, the Ethereum blockchain dominated the market and accounted for more than 60% of the total NFT sales ($537.89 million). The second most popular blockchain among NFT collectors was Solana, which accounted for 10.57% of total sales, with $93.36 million recorded.
Following these two giants were Polygon ($36.16 million), Immutable X ($28.82 million), and Cardano ($10.08 million).
BAYC maintains the lead
Compared to the rest of the NFT market, Bored Ape Yacht Club (BAYC) had a relatively good month. The collection generated $35.81 million in sales, which represents a 48.19% drop compared to February. Cryptopunks was one of the few collections to see a significant increase in sales in March. It generated $30.11 million in sales, 87.95% more than in February. That can be explained by the success of Cryptopunks Ordinals, minted on the Bitcoin blockchain.
Beyond these two flagship collections, the NFT market was dominated by Otherdeed ($29.20 million), MG land ($25.71 million) and HV-MTL, the new NFTs from Yuga Labs ($18.59 million).
The performance of Degods should also be noted, with a total sales volume of over 70.53% since February, while Yoots, Claynosaurz and Whiko NFT also had a pretty good month.
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