As an NFT collector, have you had your eyes on the prize this month? The mainstream press has been filled with NFT art news and speculation. In addition, a host of brand-new collectibles have arrived on the buoyant market.

If it all seems too much to take in, then do not worry. Read on as we attempt to break apart the ups and downs from March into handy bite-sized chunks.

Kings of Leon Release the First NFT Album

The biggest news of the month came with the announcement that American indie rock band, Kings of Leon, would be the first major act to release an album as a non-fungible token. It coincides with the band’s eighth studio album release, titled When You See Yourself.

Two types of NFT were on sale by the band. The first was touted as being only available for a limited time. It allowed access to digital downloads of the band’s new album, as well as a physical, vinyl copy of the recording.

The release was a collaboration with the startup Yellowheart. On their website, the project stated that the deadline for buying the NFT had extended. This claimed to be in response to many fans who were having trouble understanding the NFT music world.

While it does raise questions about how successful the project was, the NFT was holding its value on OpenSea. This was despite it still being on sale on the band’s website.

The second NFT was a limited edition, of which only six existed. It acted as a digital ticket to the band’s future shows. Yes, all of them.

This could be seen as a very shrewd move. The band had been sitting on the album since before the COVID pandemic. Without touring, their income must have been hit hard by COVID-19 regulations on live music. If the move is successful it gives a green light for others acts in the same situation.

Grimes Nets $6 Million from NFT Art

A more instantly successful outing was the work of Grimes, the musician, and visual artist. Collaborating with her brother, Jay Worthy, she produced 10 NFT artworks named the War Nymph collection. The sales netted her a cool $6 million dollars.

Two of her pieces, both short videos, sold at the fixed price of $7,500 each. Around three hundred were sold. The others went to auction, with one reaching a price of almost $400,000.

Grimes, also known as Claire Elise Boucher, is a multi-talented artist known for writing, producing, and creating art. As an artist who is always at the forefront of innovation, it stands to reason that she would be interested in NFTs as a form of expression.

MoonCatRescue

One surprise piece of NFT news was the return of one of the oldest NFT digital collectibles. MoonCats was a project set up way back in 2017. It provided small digital cats as NFTs.

The project had been set up in 2017 but abandoned not long after. This means it is the second oldest NFT project. It came after CryptoPunks but before CryptoKitties.

The discovery was made by Twitter account @ETHoard. Upon his announcement that they had been found, he sent the internet into a MoonCat goldrush. Once information circulated on how to mine and rescue the kitties, they suddenly started to appear for sale and shot up in value.

All people had to do was pay $200 in gas to wrap the MoonCat and it could be sold on OpenSea. This led to one of the quickest rises in the rankings seen in a long time.

The Burning Banksy

Another NFT that made headlines was one featuring the burning of a work by Banksy. The original piece, titled Morons, was purchased by a group of NFT art enthusiasts known as Injective Protocol. They burnt the original screen-print, live-streamed it, then minted the video as an NFT.

The NFT artwork sold for 228.69 ETH. All proceeds will go to charity, and the group is planning on another collaboration with a major artist soon.

Banksy himself has destroyed his own art in the past. In 2018 one of his pieces, Girl with Balloon was auctioned at Sotheby’s for $1.4 million. As soon as the piece sold, it shredded through a machine placed in its frame.

However, this did not go according to plan and only shredded half of the canvas itself. The burning of Morons seemed to be more successful.

First Tweet Minted as an NFT Art Piece

The CEO of Twitter, Jack Dorsey, also offered his historic first tweet as an NFT. The tweet was a simple phrase that read “just setting up my twttr” and was from way back in 2006.

The tweet itself was being sold on the website Valuables. The website allows people to buy and sell tweets, autographed by their creators. At the time of writing, the highest bid was up to $2.5 million.

Rise of the Waifu

Oddly enough, in a month with so much mainstream NFT news, a lot of the more popular and established properties in the NFT digital collectibles world dipped in value. CryptoPunks, for example, dipped around 27% in a little under seven days. In the category of virtual worlds, Decentraland and Sandbox also took a hit.

One of the success stories of this month was Waifusion. Their unique NFT art pictures feature 16,384 unique waifu girls.

For the uninitiated, a Waifu is an anime term for an attractive female admired by one person or others. These usually take the form of big-busted anime ladies. The art of Waifusion follows the same course.

At the time of writing, 637 waifus had sold, with the price per waifu going from 0.5464 to 0.8532.

This lust for hot Waifus continued throughout the NFT digital collectibles sector. Waifu Harem, Waifu-themed NFT trading cards, rocketed in value. They climbed a whopping 726% over the course of a week.

Beeple Takes the NFT Art World by Storm

One of the main news stories of the month was the huge Beeple NFT sale at Christie’s. With such a big story, we decided to give it a whole article to itself. Be sure to read the full story of this monumental art sale.