Rare non-fungible token #8585 from the Bored Ape Yacht Club (BAYC) collection sold for a record low 153 ETH (~$254,000). The asset lost 80% in value in 11 months.
In October 2022, this NFT was bought for 777 ETH – about $1 million at the time of the deal. Even taking into account the recovery of the market since last autumn, the asset has fallen in price in fiat terms by four times.
After the BAYC deal, #8585 lost its status as one of the most expensive tokens in the collection. He was considered rare due to his “trippy” fur, crown and other attributes.
BAYC#8585. Data: OpenSea.
According to NFT Gothe sale occurred on August 20 on the X2Y2 trading floor.
New owner digital asset is an avid NFT collector. His portfolio includes 176 tokens from 15 collections. Recent purchases include other BAYCs and three CryptoPunks.
Earlier, the OpenSea marketplace announced that it would disable the tool for forced royalty collection from August 31. The decision met with criticism from the authors of the collections, who considered it an infringement on property rights.
BAYC creator Yuga Labs also reacted strongly to OpenSea’s announcement. The company will begin work to stop the site from selling their collections as they phase out royalties.
“Yuga believes in protecting royalties so that creators are properly compensated for their work.” declared CEO of the firm Daniel Alegre.
In June, the total amount of royalty payments on NFT collections fell to a two-year low — almost 1,000 ETH.
Recall that popular pop artist Justin Bieber allegedly lost $1.2 million on investments in NFTs. In January 2022, the singer purchased BAYC #3001 for 500 ETH on OpenSea.
Subscribe to ForkLog on social networks
Found a mistake in the text? Select it and press CTRL+ENTER
ForkLog Newsletters: Keep your finger on the pulse of the bitcoin industry!
2023-08-23 09:33:32
#expensive #NFTs #BAYC #series #fell
