First-quarter NFT sales experienced a significant downturn, dropping 63% year-over-year to $1.5 billion, according to Cointelegraph. This decline highlights the cooling of the NFT market after its explosive growth in previous years. Blue-chip NFT collections were not immune. CryptoPunks saw a 47% decrease, with first-quarter sales totaling $60 million. Bored Ape Yacht Club (BAYC) sales also fell sharply, down 61% to $29.8 million. This suggests that even established projects are facing challenges in maintaining their value. However, some NFT projects bucked the trend. Pudgy Penguins witnessed a 13% increase, reaching $72 million in sales, while Doodles experienced a 41% jump to $32 million. This rise is attributed to successful marketing strategies, community engagement, and the positive impact of airdrops, which incentivize participation and increase visibility. The NFT market remains dynamic, with winners and losers emerging amidst the overall downturn. ```

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