The news around the NFT market are filled with doom and gloom, but for certain blue chip collections like Bored Ape Yacht Club, demand has not entirely collapsed.
A particularly devastating metric showed trading on NFT marketplace OpenSea was down 99% from its peak in May in terms of dollars. Now, this is really a case of cherry-picking dates and just throwing stats from a sleepy Sunday up against the peak, but surely it’s fair to say that NFT fever has broken a bit.
While celebrities continue to shill various new projects and collections, the sentiment on social media has become a bit more eye-rolling over the saturation of so many digital collectibles in the marketplace and the perception of endless money grabs.
And yet, even today, with the price of ethereum flagging, offers are on the table at this moment to buy Bored Apes for over $100,000.
This news is published and verified by the NFT News media team.
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