Bored Ape Yacht Club hype was in full swing earlier this year as celebrities “aped into” the pricey Ethereum NFT collection. Some have even used their Apes to create products, themed restaurants, live performances, and more.
But the buzz has faded amid the crypto bear market, and the price to join the exclusive club has been dropping lower and lower in recent weeks. And a “floor” Bored Ape, like the one that singer Justin Bieber spent $1.3 million worth of ETH to buy in January, now sells for a tiny fraction of that price point.
As of this writing, the floor price for the Bored Ape Yacht Club—that is, the price of the cheapest-available NFT listed on a marketplace—is about 58.2 ETH, per data from NFT Price Floor, or about $69,800. On Monday, the floor price dipped below $60,000 for the second time this month, but it ticked back upwards throughout the day on Tuesday.
