17/04/2024 Bored Apes' floor price hits lowest point since 2021, down more than 90% from all-time high

Quick Take

  • Powerhouse web3 brand Bored Ape Yacht Club has seen the floor price for its once-celebrated NFTs reach its lowest point since August 2021.
  • The floor price has declined by more than 90% from its all-time high, which it hit almost exactly two years ago.

Bored Ape Yacht Club NFTs may have hit more than a rough patch as the floor price for the once-celebrated collection hit its lowest point since August 2021.

As of Monday, the floor price on Bored Ape NFTs sank to 10.9 ether (about $34,000), according to NFT Price Floor data. The NFTs' floor price has not been that low since early August 2021, when it hit 9.5 ether, also according to the NFT data site.

Yuga Labs restructures, NFT prices grow: what’s next for the market?
CryptoPunk sells for 4,000 ETH ($12.41 million), sixth-most expensive ever
Your NFT Sold for $69 Million—Now What? Beeple Turns to a New Project, and Old Masters.

Yuga Labs, the creator of the Bored Ape Yacht Club, or BAYC, collection declined to comment.

The collection, which once had a slew of celebrities promoting the NFTs, first launched three years ago in April 2021. While the overall NFT market, especially for pricey, profile-picture tokens, has been depressed for quite some time, BAYC has often been regarded as the market's biggest success story, boasting an engaged community and popular iterative collections.

Historically, BAYC is the top NFT collection, among the collectibles market, by sales volume, having registered more than $3 billion, according to CryptoSlam! data.

Bored Ape Yacht Club floor price history. Image: NFT Floor Price.

BAYCs acquired by notable celebrities likeKevin Hartand Justin Bieber have later went on to sell for a fraction of their original price. The current floor price is more than 90% below BAYC's all-time high floor price of 128 ether (now about $395,000), which it hit in April 2022, according to NFT Price Floor.

Crypto startup firm MoonPayhelped facilitateHart’s purchase of a BAYC in 2022. The companyreportedlyalso gifted other celebrities BAYC NFTs in exchange for promoting MoonPay. The list of celebrities included Hart, Bieber,Madonnaand Jimmy Fallon.

MoonPay, however, denied giving celebrities NFTs for free.

Aclass action lawsuitwas filed in late 2022 that alleging celebrities publicly promoted Bored Apes and MoonPay without disclosing either their financial interests in the companies or if they had received compensation.

In February, Yuga Labs replaced its CEO, former Activision Blizzard executive Daniel Alegre, with Yuga co-founder Greg Solano. That same month, Yuga Labs alsoacquiredrival non-fungible token creator Proof, which is best known for its Moonbirds collection.

Arts

https://www.theblock.co/amp/post/288565/bored-apes-floor-price-hits-lowest-point-since-2021-down-more-than-90-from-all-time-high

Interesting NFTs
Finite.
⨍
Who Is The Creator 2
The idea for this piece was borne out of a tweet of mine that caused a bit of a stir. I’d posted a link to a blog article I’d written a number of months previous titled ‘Who is the Creator’ discussing various types of creative collaborations and why I hire people to work on my animations. It generated a lot of debate around creation and attribution with the community split on whether it’s right or wrong for an artist to hire other professionals to help them realize their art projects. I decided to push the boundaries even further and see how the cryptoart community responded. What if I quite literally had nothing to do with the physical or digital elements of the work other than coming up with the concept and coordinating it? I decided there was one artist in the space who could add huge value to this idea on levels that none other could and so I gathered my courage and contacted the great José Delbo to ask him if he’d be interested in a very unique collaboration. I explained to him that to make this piece ‘work’ he couldn't have any say in what I produced and moreover, he wouldn’t even be allowed to see the animation until it was dropped on MakersPlace. To my surprise, Mr Delbo agreed to my proposal. The animation tells the story of the creative process, which includes my roles as writer, director, and producer working with a team and making edits and changes ‘in real time’. The dialogue between myself and my ‘hired guns’ plays out in front of the viewer. The music written for the piece adds to the nostalgia of the comic book superhero theme but other elements such as the snapping and kicking of the pencil and the signing of my signature at the bottom incorporates further layers and challenges the viewer to ask important questions, such as, is the ‘Art’ the final animation (the creation) or is the ‘Art’ the concept/credit for the creation itself?
CryptoKitties
Aloha! I'm Kitty #256330. I enjoy spinning sick beats, riding dirty, and licking doorknobs. I'm often described as vegan, and I own it. Maybe you and I can be partners in crime.
#10447
By OthersideDeployer
The Blockchain
Symbiotic crypto-currency relationships