Data from the most well-known projects with non-fungible tokens show that important measures like floor prices and market capitalization have gone down in the last month.
In the last 30 days, the floor prices and market capitalization of “blue-chip” nonfungible token (NFT) collections have dropped. Some of the most well-known projects have seen these important measures lose half of their value.
DappRadar data on important Ethereum NFT projects shows that the floor prices of established collections like CryptoPunks, Bored Ape Yacht Club (BAYC), Mutant Ape Yacht Club (MAYC), and Moonbirds have dropped by up to 55% in the last 30 days.
The MAYC is the worst of the four, with a floor price that has dropped by 55 percent to 16.7 Ether (ETH), or $31,300 at the time this article was written. The more popular BAYC has dropped by more than 47 percent, to 86.7 ETH, or $163,000. CryptoPunks has dropped by more than 49 percent, to 45 ETH, or $85,000.
Moonbirds was the only collection to go up by 22 percent over the month. Its floor price was 19.6 ETH, which was almost $37,000 at the time this article was written.
Even though the floor price of Moonbirds has gone up, its market value has gone down by 55% to $368 million. Others have also gone down. MAYC has lost almost 71% of its value and is now worth less than $610 million. BAYC and CryptoPunks have fallen by 62% and 51%, respectively.
Even though the metrics are getting worse, most of the top NFT sales in the last 30 days have been collections. The most expensive was a BAYC NFT that sold on May 5 for 410 ETH, which was worth about $1.2 million at the time.
The best collection is the one that is free to make.
Goblintown is a free-to-mint NFT collection that came out on May 22. It is currently in the top 30 NFT collections and has a market value of about $50 million.
Even though the NFTs have “No roadmap,” as it says on their website, Discord doesn’t exist. DappRadar says that Goblintown is second in terms of volume over the past week, with about $23 million. This is more than Otherdeeds and the Bored Ape Yacht Club.
The collection of 9,999 goblins came out without a lot of promotion, hoopla, or building up of excitement for an NFT effort. No one knows who is behind Goblintown, and the official Twitter account often posts things that seem to be stupid or mean.
Even with all of these problems, the collection’s floor price on the NFT market OpenSea at the time this article was written was 2.7 ETH, or about $5,000. The most expensive NFT in the collection sold for 69.4 ETH, which is close to $130,000.
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