BAYC NFT Collection Affected by Messy Metaverse land sales
Following the rowdy Otherside land sales, Yuga lab NFT projects took massive hits. And BAYC was not spared from this, as it witnessed a significant drop in sales volume and floor prices.
Data from NFT data aggregator CryptoSlam shows that both collections started the week strong. They grabbed the first and second position in terms of sales volume in the last 24hours
The metaverse land sales came with a huge strain to Yuga. And from all indication, they were unprepared for the massive turn out and the attendant consequences that stemmed from that. But it seems the narrative is changing for Yuga Labs and its two main NFT collection- BAYC and Other deeds.
Recovery of the BAYC floor price and sales volume
After dropping to a major low of 88ETH last week from a peak of 152ETH. The floor price of BAYC is on the path to recovery, although this appears somewhat slow. But at the time of writing the floor price was trading at 99.98ETH.
It has also seen a recovery in sales volume following the sale of 14 Bored Apes according to data from CryptoSlam. The sale of the 14 Bored Apes brings the sales volume to about $2.6 million. making it the top NFT project in terms of sales volume.
Azuki Falling out of Favour
Market data rounding off the last week showed that Azuki was the top NFT project in terms of Sales volume. This was despite allegations of rug pull leveled against its CEO. But the effect of these appears to be taking it’s toll as the collection has dropped out of the top 5 collections in the last 24 hours.
The general NFT market have not fared better. Despite an impressive outing last month, it is still nowhere near the highs it attained last year. But this slow down could also be aggravated by the recent attacks that rocked the NFT community and the general bearish crypto market.