Nifty News: BAYC floor price drops 50%, Lonely Apes doesn’t attract women, and more
Prices throughout the nonfungible token (NFT) market have suffered amid the broader market downturn, with the floor price of the Bored Ape Yacht Club (BAYC) collection dropping more than 50% since the beginning of this month.
BAYC’s floor price dipped to $198,000 on Wednesday, signaling a 52% drawdown in dollar-denominated valuation from May 1, where the cheapest available Bored Ape cost $420,000. The lackluster market conditions also took their toll on the total number of BAYC sales, with sale volume down 117% week-on-week.
Ape #6775 was purchased for 225.0 ETH https://t.co/4AkVT71PrF
When looking at the BAYC floor price measured in Ether (ETH), the NFT collection has only fallen a touch over 30%, with the current floor price sitting at 97.39 ETH.
The price of BAYC’s partnered cryptocurrency ApeCoin (APE) also suffered a significant drop in price, with the token down roughly 70% since the launch of Yuga Lab’s metaverse project: Otherside.
Autograph, a Web3 company co-founded by Tom Brady, has partnered with IndyCar, Indianapolis Motor Speedway and Team Penske to launch an Indy 500-themed NFT collection.
2022 #Indy500 NFT collection announced, as @Autograph collaborates with @IndyCar, @IMS and @Team_Penske https://t.co/G2OnfvZ1er
The NFT collection, which was announced today, was designed to honor the 106th Indianapolis 500 — one of the largest car races in the United States — and will take place on Sunday, May 29.
The NFT collection comes in three main parts, offering users a redeemable Indianapolis 500 Race Day commemorative ticket, 33 more exclusive “mystery driver” cards, and a one-of-one commemorative re-creation of the winning car from the 1972 Indy 500 race.
The race day ticket NFTs will be available for free to
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