BAYC NFT Base Price Has Dropped 90 Percent in Last 18 Months

Previously, sales of Non-Fungible Tokens (NFT) had decreased by more than 20 percent over the last seven days compared to the previous week. The decline follows several consecutive weeks of gains, during which Bitcoin (BTC)-based NFTs have become significantly popular.

Reporting from Bitcoin.com, Wednesday (14/6/2023), in the last seven days, NFT sales reached USD 152.96 million or the equivalent of IDR 2.2 trillion (assuming an exchange rate of IDR 14,870 per US dollar). The number of NFT buyers fell by 63.59 percent.

Sales of Ethereum-based NFTs accounted for USD 84 million or equivalent to IDR 1.2 trillion, representing 54.91 percent market share among the 21 different blockchains.

Bitcoin-based NFTs still hold the second position in terms of sales, with sales recorded at USD 29.41 million or equivalent to IDR 437.3 billion. Sales of Bitcoin-based NFTs increased by around 25.9 percent compared to last week’s total sales.

The most expensive NFT sale came from the Derps collection of NFTs based on the Bitcoin blockchain, this is also the eighth largest collection in terms of overall sales this week. However, the largest collection by sales belongs to the ordinal.

The other NFT collections that contributed the most sales were Bored Ape Yacht Club (BAYC), Gods Unchained, Mutant Ape Yacht Club (MAYC), and Azuki. While April NFT sales were lower than March, May sales exceeded April’s total NFT sales.