The most noticeable effect is the 50% drop in the floor price of BAYC since the start of this month. As of May 1, the lowest price to purchase any Bored Ape NFT was $420K.
However, as of Wednesday, May 18, the least price to purchase a Bored Ape NFT is $198K, suggesting that BAYC’s floor price has dropped by over 50%. The woeful market conditions have also negatively affected BAYC’s sales volume this week; it is down 117% week-on-week.
When measured in Ether (ETH), BAYC’s floor price has dipped slightly over 31%. Currently, the BAYC floor price is 95.99 ETH, according to the latest Coingecko data. The value of BAYC’s native token, ApeCoin, also declined like the BAYC floor price. Since the launch of the Otherside metaverse project, APE’s price has fallen by nearly 70%.
Tom Brady’s Web3 Company Launches Indy-Themed NFT Collection
Tom Brady’s web3 company, Autograph, has announced a collaboration with IndyCar and Team Penske to launch the Indy500 NFT collection. As reported on Thursday by the Autograph, the launch of this NFT collection is to mark the 106th edition of the Indianapolis car racing event scheduled for later this month.
The racing event is one of the biggest car races in America, while Indycar (Indianapolis motor speedway) is one of the biggest sponsors of the event. Part of the announcement states that there would be three aspects to this NFT collection.
The first is a rare re-recreation of the 1972 indy500 winning car race. Then, there would be 33 exclusive mystery driver cards, and the last would be the Indianapolis 500 race day commemorative ticket.
Anyone with a seat ticket for the event will be eligible for a free race day ticket NFTs. Also, they will be eligible for access to exclusive events of the race all through the weekend.
Yuga Labs Purchases Discarded Cryptopunks NFT Collection
Yuga Labs has purchased the intellectual property of the V1 NFT collection owned by Cryptopunks after the latter dumped it. However, the V1 collection has now been listed on Yuga Labs.
The V1 collection was one of the first Cryptopunks collections created by larva labs five years ago. Larva labs discarded those collections after discovering that the code they used in building those collections was faulty. Larva Labs has since replaced them with their V2 versions.
Late last year, the Cryptopunks ecosystem came up with the idea of salvaging and selling the discarded V1 versions as new NFTs on OpenSea. However, the Cryptopunk team expressed displeasure with that idea and informed its Twitter followers that the discarded V1 versions were not “official Cryptopunks.”
OpenSea removed the NFTs from its marketplace after receiving a DMCA takedown notice from larva labs. However, OpenSea has now relisted these NFTs as Yuga Labs purchased the rights to the discarded V1 collection.
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