Given the current evolving condition of Web3, did it ever occur to you what happened to our past favorite projects?
You know, the ones that hyped us before and the utilities we’ve gained. Yep, those were good times, indeed.
But although they’re not that bullish now unlike before, these projects continue to contribute to the community with new developments.
So, if you’re curious about how they’re doing, let’s dive into this article to learn more!
THE ALPHA
As Web3 brings in more young NFT projects, prominent projects from last year are now down 90% from their all-time highs.
And Web3 influencer, HashBastards NFTs, highlighted these four main projects who got affected by the downtrend, including:
- Moonbirds
- Doodles
- Goblintown
- Invisible Friends
The biggest NFTs of 2022 have had a TOUGH 2023.
Doodles…
23 ETH 📉 2.3 ETHInvisible Friends…
8 ETH 📉 1.15 ETHMoonbirds…
32 ETH 📉 2 ETHGoblintown…
6 ETH 📉 .26 ETH pic.twitter.com/5Fr9BMhmkg— HashBastards NFTs 🤑 (@HashBastardsNFT) May 21, 2023
Yet despite their bearish trends, these NFT projects continue to show support and exciting build-outs for their loyal holders.
Let’s get started.
MORE DETAILS
1. Moonbirds
Moonbirds‘ floor prices have fallen 93% percent from last year’s all-time high of 32 ETH, currently amounting to 2.13 ETH.
Its sales volume also decreased from a whopping $484 million in May 2022 to $1.2 million this month.
Nonetheless, the project continues to provide noise for their fellow flocks as they recently held a community initiative for more meetups and fun events soon.
Southern California Moonbirds: Connect with Community Councilmember @philip_yoong for more meetups and events! https://t.co/EHyNBODv9g
— Moonbirds (🦉, 🎨) (@moonbirds) May 23, 2023
2. Doodles
Next is the Doodles collection, which suffered a major decline from last year’s record of 23 ETH to this month’s 2.29 ETH.
Besides that, the project’s sales volume also decreased, having sales worth of $77 million last year to only $2 million now.
Yet despite the downtrend, Doodles’s core team remains active for new exciting developments soon.
Make sure to stay active in the community for new opportunities!
bodega run … anyone need anything? pic.twitter.com/XYxnsmooMC
— doodles (@doodles) May 20, 2023
3. Goblintown
Your favorite meme project befor, Goblintown, is also in a bearish trend with reducing floor prices and sales volume in the market.
At the time of writing, it had a floor price of 6 ETH and a sales volume of $36 million last year.
Now, its floor price sits at 0.24 ETH, while its sales volume drained to a thousand dollars this month.
However, the goblins remain bullish about what lies ahead of the project and continue to show love and support for the community.
🙌 Shoutout to the whole @goblintown community for just being a part of it and making me feel accepted every single day. Y'all always got my back, listening to all my anxieties and crazy thoughts.
Forever and always, one of my all-time favorite projects, no doubt.
But yo,… pic.twitter.com/GnAkx18jMR
— Ricromo 999 (@RiccardoDante2) May 23, 2023
4. Invisible Friends
Lastly, the cool walking Invisible Friends collection also didn’t get left behind by the outcome of these projects.
Its last year’s floor price record of 8 ETH has fallen to 1.13 ETH this month, an 85% decrease from last year’s record.
Moreover, it managed to reach $6 million worth of sales volume last year. But now, it only comprises $577,000.
But despite the fall, the Invisible Friends collection continues to make new invisible friends by recently dropping its first Invisible Friend Physical Collectible.
Many degens are excited about the physical collectibles they’ll get to receive soon!
1 tall boi, 2 short boi's.. can't wait!
— Markus Magnusson 🟢 (@MotionMarkus) May 19, 2023
CONCLUSION
The market is different from what it used to be before, where many NFT projects got to step into the spotlight.
Increasing floor prices here and rising sales volume there.
But if you analyze it, these projects’ current conditions are healthy because this gives them a moment to breathe for what’s coming.
Because if the time comes when the market focuses back on them, then we’ll get to know the future of these projects.
A possible retracement for something bullish or a continuous downtrend which kills the project.
