Prices throughout the NFT (nonfungible token) market have been plagued by a wider market downturn, with Bored Ape Yacht Club (BAYC) floor prices falling by more than 50% since the beginning of this month.
BAYC floor prices fell to $ 198,000 on Wednesday, indicating a 52% drop in the dollar valuation from May 1, with the cheapest available Bored Ape costing $ 420,000. Adverse market conditions also took their toll on the total number of BAYC sales, as sales volume decreased by 117% from week to week.
Ape # 6775 was purchased for 225.0 ETH
– boredapebot (@boredapebot) May 18, 2022
When looking at the BAYC floor price measured in Ether (ETH), the NFT collection has only decreased by 30%, as the current floor price is 97.39 ETH.
The price of BAYC’s cryptocurrency, ApeCoin (APE), which is in partnership with BAYC, also fell sharply, with the symbol falling by about 70% since the start of Yuga Lab’s metaverse project: Otherside.
Start your machines
Autograph, a Web3 company founded by Tom Brady, has partnered with IndyCar, Indianapolis Motor Speedway and Team Penske to launch the Indy 500-themed NFT collection.
– Motorsport.com (@Motorsport) May 18, 2022
The NFT collection, unveiled today, was designed to honor the 106th Indianapolis 500 – one of the largest car races in the United States – and takes place on Sunday, May 29th.
The NFT collection comes in three main components, offering users a redeemable Indianapolis 500 Race Day Memorial, 33 more exclusive “mystery driver” cards and a sort of commemorative remake of the 1972 Indy 500 race car. .
The NFT Running Day Ticket will be available free of charge to anyone who purchased a seat at the event and will offer users access to exclusive content throughout the weekend of the competition.
‘V1’ CryptoPunks given the green light
The previously discarded CryptoPunks collection, known as the “V1” collection, has returned to OpenSea following Yuga Labs’ recent move to buy the CryptoPunks collection’s intellectual property from Larva Labs.
Larva Labs’ first collection of CryptoPunks in 2017 was accidentally based on faulty code, so they were quickly discarded and replaced with the now symbolic “V2” versions.
However, at the end of last year, the CryptoPunks community created a “packaging” program that saved discarded V1 versions and turned them into new NFT computers, which caused a major setback.
The official CryptoPunk team was not happy with the idea of the “wrapped” V1 library and announced to its 224,000 followers that “they are not public CryptoPunks.
PSA: “V1 Punks” are not official Cryptopunks. We do not like them, and we have 1,000 of them … so draw your own conclusions. All proceeds will be used to buy real Cryptopunks!
– CryptoPunks (@cryptopunksnfts) January 25, 2022
Larva Labs then issued a DMCA removal announcement to OpenSea and had NFT removed. However, the acquisition of Yuga Labs meant that Larva Labs could no longer sustain its controversy, which led to the claim expiring and V1 Punks returning to OpenSea.
‘Vastly unequal’ rate Loney Apes
Lonely Ape Yacht Club, an app designed to allow users to link their cryptocurrencies and filter potential matches by the net worth of their NFTs, has failed to launch due to the huge inequality of men and women who signed up for our waiting list.
Unfortunately, due to the huge inequality between men and women who signed up for our waiting list, we have decided to put the BAYC dating app on hold indefinitely.
Too many brothers!
We sincerely appreciate your interest and support.https: //t.co/PozZOCph0y
– y4k (@ y4kxyz) May 12, 2022
According to the Lonely Ape Yacht Club website, the app was designed to be the first NFT-focused app to launch with BAYC NFT.
The website added that the app would allow Lonely Ape members to “get the attention of potential matches by sending them cryptographic tips,” as well as displaying metrics such as “how long you’ve delivered your NFT diamond, personal net worth and value.” of their total NFT portfolio ”.
The program was also supposed to include features called “Coin Digger”, which would allow non-BAYC owners to: “connect with higher value individuals for mutual benefit.
Connected: Taking advantage of sports fans through NFT will not lead to W
Other great news:
Rumor has it that the parent company of the social media giant Facebook, Meta, is organizing a presentation of a payment platform that will offer support for cryptocurrency, which indicates a continued advance into the world of blockchain technology.
44 central bankers from developing countries around the world will attend a 3-day conference in El Salvador this week to discuss a wide range of financial issues, including Bitcoin (BTC).
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