The price of the Bored Ape Yacht Club (BAYC) non-fungible token (NFT) has hit its lowest point in two years.
According to Cointelegraph on the 16th (local time), the bottom price of BAYC NFT is currently 11.1 Ethereum (ETH) (about $34,300, about 47.49 million won), the lowest since August 2021. This is a 90% drop in price from the peak during the bull market. BAYC was traded at 128ETH (approximately 396,100 dollars, approximately 548.44 million won) in August 2021. According to NFT Price Floor, the price of BAYC has fallen 50% since the 1st of last month.
However, some of BAYC's works were found to be selling for close to 50 times the floor price. BAYC #830 was sold for 504.3 ETH (about 1.92 million dollars, about 2.658 billion won) last month. Recently, many rare works were traded for more than 30 ETH (about 92,800 dollars, about 128.47 million won).
Meanwhile, the Cryptopunk NFT collection, which has the largest market capitalization in the NFT market, was also traded at a price that fell 64% from its highest bottom price of 113.9 ETH (approximately 351,600 dollars, approximately 486.75 million won), indicating an increase in the digital art NFT market. Concerns are growing. Shi Kai-wei, co-founder and COO of Longhash Ventures, commented on this, saying, “Digital art NFTs do not exist alone, but we need to think about ways to maximize the usefulness of the blockchain industry by combining them with other industries.” did.
- Reporter Park Ji-hyeon
- claris@rni.kr
< Copyright ⓒ Decenter, unauthorized reproduction and redistribution prohibited >
