Lonely Apes isn’t attracting ladies, the BAYC floor price has dropped by 50% 

BAYC lonely Ape

Since the beginning of the month, the floor price of the Bored Ape Yacht Club has dropped by half due to the general decline in pricing and sales volume of NFTs. 

The Bored Ape Yacht Club (BAYC) collection floor price has dropped more than 50% since the beginning of this month due to the broader market collapse. 

BAYC Floor Price Insights

On Wednesday, BAYC’s floor price fell to $198,000, a 52 percent decline in dollar worth from May 1, when the lowest Bored Ape was priced at $420,000. There was a 117 per cent drop in the overall number of BAYC sales week-on-week due to the weak market circumstances. 

The NFT collection’s current floor price of 97.39 ETH is less than 30% lower than the BAYC floor price measured in Ether (ETH). 

The price of ApeCoin (APE), the BAYC-partnered cryptocurrency, has also fallen precipitously, by around 70%, after introducing the metaverse project Otherside by Yuga Lab. 

IndyCar, the Indianapolis Motor Speedway, and Team Penske have teamed up with Tom Brady’s Autograph, a Web3 start-up, to create an Indy 500-themed NFT collection. 

For the 106th Indianapolis 500, which takes place on May 29, the company unveiled a new collection of NFT items on Thursday. 

The NFT collection is divided into three parts: a redeemable commemorative ticket for the Indianapolis 500 Race Day, 33 additional unique mystery driver cards, and a commemorative replica of the 1972 Indy 500 winning vehicle. 

Anyone who buys a ticket to the race will be able to access NFTs for free, which will provide them access to unique material during the weekend of the race. 

V1 CryptoPunks get the go-ahead 

CryptoPunks, known as V1, have returned to OpenSea after Yuga Labs recently acquired the intellectual property of the CryptoPunks series from Larva Labs. 

CryptoPunks manufactured by Larva Labs in 2017 were swiftly eliminated and replaced with the now-iconic V2 versions since they were constructed on incorrect code. 

CryptoPunks created a “wrapper” program at the end of last year that salvaged discarded V1 versions and turned them into new NFTs, which caused controversy. 

They informed their 224,000 followers that “they were not official CryptoPunks” when they came up with the “wrapped” V1 collection. 

The NFTs were then withdrawn from OpenSea after Larva Labs sent a DMCA takedown request. A deal between Larva and Yuga meant that the dispute could no longer be maintained, and therefore the V1 Punks returned to OpenSea. 

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