Bored Ape Yacht Club NFTs sold for millions in 2021—prices have dropped 90% since then

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Bored Ape Yacht Club NFTs sold for millions in 2021—prices have dropped 90% since then
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Bored Ape Yacht Club NFT collection once touted by celebrities like Justin Bieber has seen its floor price decline by around 90% since its peak in 2022.

A person walks by Bored Ape Yacht Club NFT characters inside Radio City Music Hall during the 4th annual NFT .NYC conference on June 21, 2022 in New York City.Greg Solano, YugaLab's CEO, announced that the startup would lay off an unspecified number of employees as it undergoes "restructuring."The news comes as the floor price for the popular NFT collection once touted by celebrities like Justin Bieber and Paris Hilton sinks to lows not seen since it was released in 2021.

But despite Bored Ape Yacht Club's substantially lower floor price, the NFT market is still showing some signs of life. On April 25, an anonymous collector shelled out close to $12 million worth of ETH for a CryptoPunk NFT,YugaLabs' Bored Ape Yacht Club collection launched in April 2021 with 10,000 NFTs depicting the cartoon apes with various colors, clothing and facial expressions.

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Bored Ape NFT Prices Tank to August 2022 Levels, Down 90% From PeakBored Ape NFT Prices Tank to August 2022 Levels, Down 90% From PeakShaurya is the Deputy Managing Editor for the Data & Tokens team, focusing on decentralized finance, markets, on-chain data, and governance across all major and minor blockchains.
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Bored Ape NFT floor price hits lowest point in over two and a half yearsBored Ape Yacht Club NFT floor price continues to trend downwards, with its floor price now down 90% from its May 2022 peak.
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