Blue-Chip NFTs Struggle, Floor Prices Drop Over 25% in 30 Days

Measum Shah

Crypto News

Blue-Chip NFTs Struggle, Floor Prices Drop Over 25% in 30 Days. In spite of the fact that the non-traditional financial market has suffered significant financial losses over the course of the most recent few months, its applications in real-world settings are expanding.

The on-chain analytics tool Nansen has looked at the data and found that blue-chip non-fungible tokens (NFTs) are struggling and that their floor prices have dropped by a lot.

The firm says that in the last 30 days, the floor prices of most blue-chip NFTs have dropped by more than 25%. At the same time, the prices of some sets went up by a lot.

Blue-Chip NFTs are Struggling

Blue-chip NFTs are collectibles that are likely to keep their value over time because of their historical trading activity, cultural importance, rarity, demand from collectors, and strong fundamentals.

The lowest price at which an item in a collection can be purchased or sold is referred to as the NFT floor price. It is kept in ether (ETH), and any changes made to it are updated in real time. It demonstrates how an NFT is being used as well as how effectively it is functioning.

Top NFT collections like the Bored Ape Yacht Club (BAYC), DeGods, CryptoPunks, Azuki, Mutant Ape Yacht Club (MAYC). And Moonbirds have all had bad luck in the past month. The biggest drop was 55% for the DeGods collection, while Azuki Elementals and BAYC had 48% and 27% drops, respectively.

The price of CryptoPunks at the floor fell by only 4.26%. There was also a 20% and 26% dip in MAYC and Moonbirds respectively.

Even though prices went down, some NFT collections grew and their floor prices went up by more than 50%. For example, the floor price of Milady. Which is a group of 10,000 generative pfpNFTs, jumped 66% to 4.59 ETH. Getting closer to MAYC’s price of 4.74 ETH.

Floor Prices Drop Over 25% in 30 Days

Also, the Sproto Gremlins NFT collection hit a floor price of 1.6 ETH after going up 262% in the last 30 days. Because the collection made a lot of money, most people who owned it made a lot of money. Nansen looked at the top 20 holders and found that the person with. The most Sproto is a famous NFT collector and that there are six rare and epic collectors who don’t have smart money addresses. Some people who collect Sprotos have sold their NFTs and made a little bit of money.

Even though the NFT market has lost a lot of money in the past few months. It is being applied to a wider variety of real-world scenarios.
In April, CryptoPotato revealed that Flybondi, a low-cost airline in Argentina, started selling tickets in the form of NFTs. Before that. The national airline of the United Arab Emirates showed its customers and workers NFTs and experiences in the metaverse.

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