Top Bored Ape Yacht Club (BAYC) NFTs see drastic price drops, with leading assets depreciating up to 97% in value.
One of the most elite collections of NFTs on the Ethereum blockchain, the Bored Ape Yacht Club (BAYC), has recently seen a dramatic decrease in price for most of its expensive digital assets. CryptoGambling.tv, a leading expert in the field, has thoroughly researched the data on OpenSea to provide insights into this steep decline.
BAYC’s Priciest Asset: Bored Ape #8817
Let’s start with Bored Ape #8817, which previously boasted a jaw-dropping price tag of $3,408,000.
Now, the highest bid for this specific NFT stands at a mere $103,002.25, marking a staggering 97% drop in its value. Unique characteristics like its gold fur, spinner hat, and a party blower once set this NFT apart, but it seems even these traits couldn’t maintain its former glory.
Next in line, Bored Ape #3749, also known as ‘The Captain,’ has faced a 96.4% dip in its value. Previously sold for an impressive $2,907,016, this NFT is now available for a significantly lesser highest bid of $103,498.20. Like its pricier counterpart, it also boasts the rare gold fur and adds a black t-shirt, a captain’s hat, and laser-beaming eyes to its aesthetic.
Continuing the trend, Bored Ape #232 has seen its value diminish by 96.3%, going from $2,811,791 to the current highest bid of $103,420.20. Once again, the solid gold fur makes an appearance, and it’s accompanied by a smoking jacket and a seaman’s hat against an army green backdrop.
At a 96.4% loss, Bored Ape #8585 had previously captured imaginations with its trippy fur, selling for $2,702,462. Now, its highest offer on OpenSea has plummeted to $95,464.80. The unique trippy fur, heart-shaped sunglasses, and a regal crown contributed to its previous high valuation.
Moreover, Bored Ape #2087, which once commanded $2,307,638, now sits at a meager highest offer of $95,464.80—a 95.8% price reduction. Bored Ape #7090 and Bored Ape #8135 haven’t been spared either, with their prices decreasing by 96% and 97.1%, respectively.
Is Rarity Important?
Interestingly, even NFTs with a high rarity score haven’t been safe from the decline. Bored Ape #2087 has a rarity score of 312.34, making it the ninth rarest in the collection, yet its price took a steep hit. Bored Ape #7090, with a rarity score of 250.33, also saw its price fall by 96%.
Nevertheless, if the NFT market recovers, this could be a good time for an NFT enthusiast to start collecting given that the prices of BAYC NFTs may eventually increase again.
Therefore, while some may consider this price decline troubling, it’s crucial to remember that the NFT market is highly volatile. Today’s downturn could very well be tomorrow’s upswing. The future of Bored Ape Yacht Club and NFTs at large remains uncertain, offering both risks and opportunities for enthusiasts and investors alike.