Established collections shed 50% value as new arrivals steal the show
Blue Chip NFT collections such as CryptoPunks, Bored Ape Yacht Club (BAYC), and Doodles have seen almost half their value wiped out over the last thirty days while free to mint collections such as Goblin Town WTF storm the charts. Data on so-called blue-chip NFTs show that key metrics, floor prices, and market capitalization have declined over the past month.
As markets continue to toss and turn, some blue-chip NFT collections have seen their floor prices and market capitalization slide, with some of the most well-established collections halving in value. Key Ethereum NFT projects such as CryptoPunks, BAYC, Mutant Ape Yacht Club (MAYC), and Moonbirds are all down approximately 50% over the last 30 days.
One thing to keep in mind is that Ethereum NFTs are almost always priced in ETH and that the value of Ethereum has dropped more than 28% in the last 30 days. That means unless sellers change their prices to…