Crypto Market Rout Pulls the Floor out From Blue-Chip NFTs, Weekly Sales Down 64%
As markets slid in value during the past week, non-fungible token (NFT) floor values have dropped considerably. Blue-chip NFT collections like Bored Ape Yacht Club (BAYC), Cryptopunks, and more have seen their floor values drop between 2-25% in the last 24 hours.
NFT Floor Values Take a Significant Beating
- NFT sales have dropped 64.84% lower than the week prior during the last seven days. Nearly every popular NFT collection is down considerably when it comes to week-over-week sales.
- Otherdeed sales are down 90.31%, BAYC sales have slid 63.73%, Mutant Ape Yacht Club (MAYC) sales are down 65.73%, and Cryptopunks sales are under by 3.39% this past week.
- NFT floor values have slid a great deal in value during the past 24 hours as the crypto market carnage has not been kind to digital collectibles. BAYC’s floor value today is 2.9% lower at 97 ether or $191K.
- The current Cryptopunks’ NFT floor has lost 7% and the floor value of the least expensive Cryptopunk NFT is 48.85 ether or $96K. Moonbirds NFTs are down 10.9% during the last day and the floor value is 21.5 ether or $42K.
- $1.7 billion in NFT sales volume was recorded seven days ago, and this week’s volume is down to $631.5 million.
- The NFT collection Azuki took the top sales this week with $102 million in sales volume which is an increase of around 208.55% since last week’s Azuki sales. 24-hour stats show Azuki’s floor value this weekend is 14.16 ether or $27.8K, which is 0.3% lower than the day prior.
- Doodle’s NFT floor value has increased 2.5% during the past day and currently, the Doodle NFT floor value is 13.95 ether or $27.4K.
- 16 different blockchains saw sales decline since last week except for Tezos-based NFT sales, up 15.07% this week.
- Metrics from cryptoslam.io show the most expensive NFT sold this week was BAYC 7,520, which sold 21 hours ago for 115 ether or $238K.
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Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 5,000 articles for Bitcoin.com News about the disruptive protocols emerging today.