The value of Bored Ape Yacht Club NFTs has dropped more than 50% since the beginning of May.
The value of BAYC, the world’s most valuable NFT collection, has dropped more than 50% since the start of the month, according to data from The Block. The minimum price per NFT has recently dropped below $200,000. Not long ago, NFTs of this collection could be bought for a minimum of around $400,000. Sales also fell by 30%.
Yuga Labs is still the creator of the most demanded NFT collections in the market despite this decline. According to Cryptorank’s chart, three of the 5 most valuable NFT collections were produced by Yuga Labs.
First place went directly to the BAYC collection, with 6,272 active owners, according to the chart. The average market value of the collection is $2.15 billion. Otherdeed took the second place. The market value of the collection was around $1.2 billion. Yuga Labs’ other NFT collection, Mutant Ape Yacht, also ranked fourth with a market cap of $816.7 million.
