Bored Ape Yacht Club NFT Prices Plummet 90% from Peak

The floor price for NFTs from the Bored Ape Yacht Club (BAYC) collection has plummeted from a peak of 128 ETH to 11 ETH, marking a 90% decline, according to NFTPriceFloor.

The last time the metric showed such low values was in August 2021, at around 9.8 ETH.

BAYC is considered one of the most expensive and successful collections, launched approximately three years ago.

According to CryptoSlam, the trading volume of tokens over the past week exceeded $4.9 million. Since its inception, BAYC’s total NFT sales have reached $3.1 billion.

Previously, a non-fungible token #9258 from the collection, owned by American comedian Kevin Hart, was sold at a 76% discount from its original price for 13.65 ETH (~$47,000 at the time).

The comedian purchased the asset using the MoonPay service, which collaborates with celebrities to assist them in buying NFTs. Other celebrities include singer Madonna, Justin Bieber, and TV host Jimmy Fallon.

In August 2023, BAYC #8585 was acquired for a record low of 153 ETH (~$254,000). The asset lost 80% of its value in 11 months. Token #3953 was sold for 200 ETH (~$372,000), which is also significantly below peak levels.

In February 2024, BAYC #1726 was purchased for 275 ETH (~$688,000). It belonged to NFT whale known as franklinisbored, one of the main holders of the collection.