06/07/2022 Floor price of popular NFT collections collapse due to bear market

Not even popular art collectibles could survive the wrath of the market downturn.

Floor price of popular NFT collections collapse due to bear market

It appears there is no respite anywhere in the crypto realm in the face of Monday's extraordinary market sell-off. Based on data from NFT Price Floor, the floor prices for Bored Ape Yacht Club (BAYC) andCryptoPunks, two of the most popular nonfungible token, or NFT, collections on the market, have fallen to 74 ETH ($92,223) and 48 ETH ($69,473), respectively.

In comparison, pieces in the BAYC collection had an all-time high floor price of 153.70 ETH, while the same metric amounted to 123 ETH for CryptoPunks. The data aggregator tracks 380 collections with a total market cap of $5.58 billion at the time of publication.

The sell-off among NFTs was partlyexacerbated by a warningjust a day prior, where Gordon Goner, co-founder of Yuga Labs — the firm owning both BAYC and CryptoPunks collections — issued a warning regarding an "imminent" attack on social media accounts operating under the firm's umbrella.

The incoming attack allegedly has the support of an insider from Twitter who would help bypass the security of the accounts. Yuga Labs' social accounts had beencompromisedthree times already this year, some of which involved sophisticated phishing attacks that drained millions of dollars worth of users' NFTs.

Meanwhile, according to DappRadar, the number of users on OpenSea.io, the largest NFT marketplace by volume, hasfallen14% in the past month. Simultaneously, monthly trading volume fell 65% to $500 million. Interestingly, the number of transactions increased month over month by 6.4%, possibly due to the sheer number of users seeking to sell their NFT collections at a better price.

Arts

https://cointelegraph.com/news/floor-price-of-popular-nft-collections-collapse-due-to-bear-market

Interesting NFTs
taro
conceptual art. drawing and digitally processed
The Moth Catcher
In this psychologically bed-headed portrait, a creature sets in a trance; his eyes devolved and vestigal, his third eye open but hardened and in a form resembling a Sharingan. The imagery therefore expresses an awareness existing in corporeal introspection. The creature’s mind sprouts, on the left side, an emerging face, grinning. To the right side of the head, red tentacles and fingers intertwine–a collaboration of invertebrate and vertebrate consciousness cooperatively handling paint brushes of the sort used to build an oil painting. The neck and throat bristle with random thorns, as from a rose or the upper portions of a beak sprouting from its flesh. The neck itself disassociates into layers of membranous material, terminating upon an abstracted base of convoluted forms composing its body. The nose is virtually non existent, more a sinus reiterative of the shape of the third eye. Set against the exposed teeth peering out of thick, meaty cheeks, a skeleton-like impression results. That impression sets behind a visceral set of lips and tongue, which is the creature’s prime seat of awareness. Sensual, organic, the tongue organ hangs, meaty, and with consciousness of a sea cucumber. It illuminates at the tip, drawing the attraction of a nearby moth–with mystery of purpose.
David vs the Virus
"An ode to the year everything changed" - Frank Wilder The story of the underdog is a reoccurring theme throughout history, and perhaps the most famous example is that of David vs Goliath. A tale about perseverance, in which David takes on and defeats the giant warrior using only his smarts and a stone. Famously depicted by Michelangelo's David statue. Fast forward to the present day in 2020 and we as humanity are faced with our own Goliath. An uncontrollable pandemic spread around the globe. Now with the entire planet being affected by this we understand the gravity of the situation at hand, whether it be a virus we’re fighting or other forces at play, there is indeed an energy out to shift the balance of the Universe… Regardless of our differences, in this moment must unite as one. With diligence, trust and belief we as a whole can come together to triumph against "the enemy". Stay vigilant my friends. Original score created by the one and only Phoenix Wilder.
Dracula Genes
Aloha! I'm Dracula Genes. I'm often referred to as the Peter Griffin of the group. It's not common knowledge, but my ancestry connects me to Amelia Earhart. Let's pawty!
Rare Kratos
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