NFT: prices continue to fall, BAYC and Azuki severely affected

While theinterest for NFT continues to back offthe floor price from tokens from the popular collection Bored Ape Yacht Club is fell to his lowest level since 2 years.

The craze for non-fungible tokens fell back last year and continues to fall in 2023.

Over the past 3 months, floor prices for collections Azuki, MeebitsBored Ape Yacht Club and Doodles have indeed plunged by nearly 50%.according to data provided by NFTpricefloor.

The precious ones BAYC from Yuga Labs, which were trading at a premium in early 2022 at over 100 ethers, are now worth just 30 ETHa drop of over 80% since the collection’s ATH (128 ethers) and almost 50% over the last 90 days. The floor price of the collection plummeted this weekend below 28 ETH before rebounding slightly, a level not seen since the month ofAugust 2021.

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The NFT blue chip collections Meebits, Mutant Ape Yacht Club and CryptoPunks, which are also owned by Yuga Labs, also saw their floor prices drop by 49, 50 and 25% over 3 months.

Azukione of the few large collections that had started the year well, saw its token value plummet following a very disappointing mint for new NFT. Over 3 months, the floor price of Azuki fell by almost 45% at about 7 ethers.

NFTs that looked good at 15 ETH don’t look so good when they’re at 5 ETH. Demand has evaporated as prices have fallen,” commented Yau Teng Yan, director of NFT research at Delphi Digital, on Bloomberg.

Despite the bloodbath in the NFT ecosystem, some collections, such as Pudgy Penguins, are holding their own. The floor price of tokens featuring pudgy penguins is up 1% over 90 days to around 4 ETH. The project recently unveiled physical toys.

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This year, the crypto market was spared the NFT wreckage, with Bitcoin almost doubling in value since January. Over 3 months, the price of the digital coin has continued to rise (+10%) despite the problems encountered by major exchanges such as Coinbase and Binance with regulators.

“No ecosystem NFT no one ‘must succeed’ for NFT to be a relevant and useful technology. Yuga or Azuki could die tomorrow […] The technology won’t stop working “, recalled a token collector on Twitter.

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