Not even popular art collectibles could survive the wrath of the market downturn.
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Kraft’s NFT and Metaverse trademarks cover a long range of potential services including a virtual restaurant where users can earn rewards and virtual assets.
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According to CertiK, investors should be highly skeptical of free NFT giveaways, as well as small peculiarities in sites they interact with.
Bored Ape Yacht Club Plunges By 60% Last Month
While Bored Ape Yacht Club appears to be unfazed for several months now in the face of the crypto crash, the month of May tells a different storyline.
Bored Ape Yacht Club, a blue-chip NFT, appeared to have dipped in value, as evidenced in May when NFTs dropped in average sales price. May has been a challenging month for NFTs and crypto alike. BAYC has managed to end it with a sour trading price of $152,658.
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BAYC Average Sales, Value Down 60%
Although BAYC sales are comparably higher than other NFTs like Otherdeed, Art Blocks, NBA Top Shot, and even Mutant Ape Yacht Club, BAYC values have crashed by 60% since May 1 with an average trading price of $382,894.
A hike in unique buyers increased from 475 to 591 in April, but the average sales have shed tremendously since.
Meanwhile, the APE token has lost 66% of its value from a May opening trading price of $20.02 to close at $6.76.
Source: Bored Ape Yacht Club Price Chart by Nomics
Why Own A Bored Ape Yacht Club
BAYC is an NFT collection owned by many celebrities and influencers like Stephen Curry, Eminem, Justin Bieber, and Shaquille O’Neal. It’s an overnight sensation that has also triggered high prices for the collection. Owning a BAYC is a status symbol that you belong to the elite circle.
To be relevant, it’s a must to own the most popular and royal NFT. It gives the owner that cool status, but the actual value of BAYC is exclusive membership access. It’s a digital club that provides member-only access and privileges such as the following:
- Bathroom Access
- Discord Access
- Added NFTs
- Access to ApeCoin
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Crypto total market cap at $1.26 trillion on the weekend chart | Source: TradingView.com
It’s BAYC that unlocks the potential of NFTs to enter the mainstream and be a part of the elite and more giant circle.
Bored Ape and other blue-chip and premiere NFTs have been in a depressive state and down by more than 50% last month. BAYC has been robust and unassailable for several months despite the crypto market retreat, but the values are sliding now.
One of the apparent reasons for the decline is that Ethereum has also been down by 33% for the month following the Luna and UST stablecoin crashes. OpenSea trading volume has also suffered and has plunged by 40% for the past month.
The decline in the BAYC value is also largely attributed to the massive crypto crash that resulted in the waning of investor interest in all things NFT.
Featured image from CoinLive, chart from TradingView.com
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Data on the most well recognized nonfungible token (NFT) projects show that key metrics have fallen with floor prices and market capitalization over the past month.
What is ApeCoin and how does it work?
APE token holders make collective governance decisions, casting votes and deciding on issues such as fund allocation, rule framing, partnerships, project selection, and more.
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Green planned on using the BAYC in an upcoming TV series, and he has hinted he will go to court to get his Apes back if the new owner does not give it up.
Otherside NFTs fall below mint price while cheaper ETH sees sales volume boost
Floor prices for some of the most popular NFT collections are slipping to their lowest levels in over a week, including the top-traded Otherdeed for Otherside Metaverse land.
NFT markets slump as weekly sales volume dives 30%
MAYC, BAYC, and Otherdeed trading volumes are all way down, as are volumes in the entire NFT market, possibly signaling a general cooldown in the industry.
Bored Ape Yacht Club NFTs stolen in Instagram phishing attack
The phishing attack coincided with the one-year anniversary of BAYC’s launch, leading many users to believe that the link was authentic.
The Top 5 Most Valuable NFT Collections And A Tool To Track Them Down
Some of these NFT collections are so ever-present that they are already part of the collective unconscious. Others, the general public has not even heard about. What makes an NFT collection valuable? Market capitalization is the potential value of the whole collection, based on its size and the value of the individual pieces. In the case of NFTs, it’s hard to pinpoint, because it’s a volatile market with lots of action all-day-every-day.
Agreeing on which are the most valuable #NFTs collections is certainly hard.
We created a matrix called "Most Valuable NFTs Collections" and it shows the 20 most valuable collections, sorted by their market capitalization.
Access this data for free here: https://t.co/wXJyMCmRBD pic.twitter.com/PyzbPMDKCk
— IntoTheBlock (@intotheblock) April 21, 2022
When IntoTheBlock announced their list, they presented it by saying, “Agreeing on which are the most valuable NFTs collections is certainly hard.” Besides market capitalization, the “Most Valuable NFT Collections” list tracks number of owners, volume trade, average price, and number of sales. All of those stats are pretty common when discussing NFTs, but it’s certainly helpful to have them all on an interactive database.
The page also displays useful graphs that put everything into perspective, like “All-time Most Traded Collections,” “Collections With Most Unique Owners” and “Booming NFT Collections.” With that being said, let’s dive into each of the collections in the Top 5 and give some insight about them.
#1 NFT Collection: Bored Ape Yacht Club
At the moment, the BAYC surpassed the all-powerful Cryptopunks as the most valuable NFT collection. This is not surprising, since the Bored Apes became part of popular culture and are on their way to becoming mainstream. On their official site, they describe themselves as “A limited NFT collection where the token itself doubles as your membership to a swamp club for apes. The club is open! Ape in with us.”
As with most successful products, the Yuga Labs creation doesn’t come without its share of controversy.
#2 Cryptopunks
They might not have been the firsts, but the Cryptopunks are certainly responsible for spearheading and popularizing the NFT movement. At first, you could mint them for free. Nowadays, the average price is 76.64 ETH. On their official site, they describe themselves as “The Cryptopunks are one of the earliest examples of a “Non-Fungible Token” on Ethereum, and were inspiration for the ERC-721 standard that powers most digital art and collectibles.”
The creators recently sold the whole collection to Yuga Labs. And, of course, controversy follows this project as well. And, they’re also on their way to mainstream adoption.
ETH price chart on Capital.com | Source: ETH/USD on TradingView.com
#3 NFT Collection: Mutant Ape Yacht Club
At first, these ones were free as well. They came into the scene as a way to reward BAYC members. Owners received an airdrop of “Mutant Serum,” using it they could mint a mutant version of their ape as a completely new NFT. Nowadays, the average price is 32.99 ETH. They don’t have an official site, but this is the NFT collection’s Open Sea page. As you can see by its place on this list, the interest in this collection keeps growing.
#4 CloneX
The collaboration between legendary Japanese artist Takashi Murakami and “digital artifacts” creator RTFKT is a success like no other. This might have to do with Nike’s recent acquisition of the company. The NFT collection ’s official site doesn’t describe itself, but NFT News does, “CloneX NFT collection is not only equipped for the Metaverse and features high-end avatars, but also marks the beginning of a community-focused environment ”
#5 NFT Collection: Moonbirds
The newcomer of the bunch is the Moonbirds NFT Collection. Their official site describes them as, “a collection of 10,000 utility-enabled PFPs that feature a richly diverse and unique pool of rarity-powered traits.” Since they’re so new, they’re easily beating all of the other collections in number of daily sales. Of course, the NewsBTC team has been covering the story as it happens.
Other NFT collections in the Top 10: Azuki, Sandbox’s LANDs, Doodles, Veefriends, and Meebits.
Featured Image: the most valuable list, taken from this tweet | Charts by TradingView
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Owners of the popular Bored Ape and Mutant APE nonfungible tokens (NFT) could receive virtual lands on the Yuga Labs’ upcoming “Otherside” metaverse.
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After selling for a mint price of 2.5 ETH on April 16, the floor price of Moonbirds has also quickly risen to 18.45 ETH.
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APE has closed above a key interim support level, raising its possibilities to extend its rebound move.
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Bandanna Sporting Crypto Punk #5822 Sets New Record As It Sells For $23M
A CryptoPunk NFT has just set the record for the highest-selling punk so far. The collection which is more than three years old had been in obscurity for the longest time but with the rise of NFT popularity, they have become one of the most valuable collections in the NFT space. In a recent sale, CryptoPunk #5822 has set the record for the high-selling punk after selling for $23 million.
CryptoPunk #5822 Sells For 8,000 ETH
The CryptoPunk #5822 which had sold for 8,000 ETH, more than $23 million had been bought by the CEO of Chain, Deepak Thapliyal. It is the most expensive CryptoPunk NFT to be sold to date. Only one of 10,000 CryptoPunks that was created in 2017, the original owner of the CryptoPunk had paid less than 1 ETH for the piece. They had then held through the initial boom of the collection until now, where they finally sold their punk for more than 7,999 ETH in profit.
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It is no surprise that this one CryptoPunk had sold for this price. There have been a number of CryptoPunks that have been sold for significant amounts of money, running into the tens of millions of dollars. In total, the CryptoPunk collection has seen more than $9.3 billion in trading volume since it was first launched.
Thapliyal who purchased CryptoPunk #5822 had leveraged his Compound Finance account to purchase the piece, according to him. It is important to note that the CEO had purchased what is one of the rarer CryptoPunks. This piece which is considered an “alien” in the compilation is one of only nine such pieces in the collection. This is why itself and its other eight counterparts are so expensive.
Despite its high price tag, it is still not the most expensive NFT sold to date. That title belongs to Beeple’s Everydays NFT sale that took the market by storm. The piece had sold for a whopping $69 million, creating a record that no one has been able to break.
NFT Holder Turns Down $1.2 Million
While the CryptoPunk #5822 NFT is making waves in the space for its high price tag, another piece had made it into the spotlight for refusing to sell for a high price tag. The Bored Ape Yacht Club is an infamous collection of 10,000 NFTs that have also made its mark for selling expensive NFT pieces. Its pieces have sold across the board for millions of dollars but one holder is not partaking in this.
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The Golden Ape #1726 had turned down an offer to purchase their Ape for 420 ETH – $1.2 million. The holder of the Ape revealed to CryptoPotato that they had turned down the offer because it was basically a lowball offer. The piece is a rare one, one out of 46 gold fur apes that were released in the BAYC collection. Of all 46, only 1 piece has been sold below 1,000 ETH.
“I rejected it [read: the offer] because gold fur apes are the rarest fur of BAYC. Also, it’s my personal brand, and I think with this brand, and owning the ape, I can continue to make residual income,” they told CryptoPotato. “There is only 1 out of 46 gold fur apes listed for sale below 1000 ETH and I would like to still be a part of that group.”
The same user told the publication that they hold another 36 Apes in their collection. So they are not exactly hurting for cash as the case may be.
Featured image from CryptoSlate, chart from TradingView.com
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Skyweaver has been in the making for four years, and finally launched its open beta this week, while the BAYC floor price is dropping fast.