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
Degradation
ASH THORP (B. 1983) Degradation born-digital, single-channel video 00:00:24 seconds (1300 x 2560 pixels) Executed in 2021. This work is unique and is accompanied by a non-fungible token.
trump 2020
This is a photo i took of my son playing around in one of our cat carriers, redressed to express the concern and damage the continuation of the trump administration could bring to the world in 2020 and beyond. Unlike the majority of my historic work found on opensea, all content was conceived and taken by me, so felt perfect to use as my first piece on Known Origin.
Christmas Sleigh
First Christmas-themed Visual Toy. For this work the artist has created a fantastic sleigh, ornamented in detail and with all the Christmas spirit that transports us to childhood, illusion, innocence. With its gift wrapping machinery, its Santa, a snow globe, the nutcracker, the European-style village and its soundtrack (first time with music) it is a whole Christmas mosaic for the imagination.
#60092
By OthersideDeployer
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Fidenza is by far my most versatile algorithm to date. Although the program stays focused on structured curves and blocks, the varieties of scale, organization, texture, and color usage it can employ create a wide array of generative possibilities. Additional project feature(s) => Scale:Medium, Turbulence:High, Colors:Luxe, Have Margin:Yes, Spiral:No, Soft Shapes:Yes, Super Blocks:No, Collision Check:No Overlap, Outlined:No, Shape Angles:Curved, Density:Medium