BAYC has fallen 50% since March 1 and is presently reaching a sub-10 NFT floor price.
The NFT project, which was backed by Yuga Labs, began in April 2021.
At 11.1 Ether (ETH), the floor price of Bored Ape Yacht Club (BAYC) NFTs has dropped to its lowest position since August 2021, a precipitous decline of more than 90% from its high. NFT Price Floor reports that BAYC has fallen 50% since March 1 and is presently reaching a sub-10 NFT floor price.
The NFT project, which was backed by Yuga Labs, began in April 2021; so, the NFT price floor is now at the same level as it was four months post launch. With the industry-wide reduction in demand for art NFTs, the NFT collection has fallen from its high of 128 Ether (ETH) established on May 1, 2022.
Viability of Digital Art NFTs
On the other hand, it’s worth mentioning that certain BAYC NFTs have managed to sell for far more than their floor price. The floor price is determined by looking at the NFT with the lowest price in a sp
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