Sale of rare Bored Ape underscores NFT market slump

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Sale of rare Bored Ape underscores NFT market slump
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The second rarest Bored Ape Yacht Club NFT has been sold for 200 ETH (roughly $372,000) — far below peak prices for the collection’s most prized items.

In the past, apes with similar traits have been sold for millions of dollars. The record sale, brokered by Sotheby’s in 2021,The news comes with the prices of some of the most popular NFT collections plummeting. The floor price — the cheapest point of entry for an NFT collection — of Yuga Labs’ Bored Ape Yacht Club currently sits at 31 ETH .

© 2023 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

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