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Bored Ape Yacht Club OR BAYC is a non-fungible token (NFT,) with a collection of 10,000 cartoon-like Apes. It is built on the Ethereum blockchain. Its parent company is Yuga Labs. The current crypto winter is affecting major cryptocurrencies and now the blue chip NFTs, those owned by celebs, are losing their value significantly.
Celebrity NFTs are those NFTs that are created, promoted, or may be owned by famous personalities. The celebrity NFTs can raise massive amounts of funds that are majorly used in charity causes.
There were some of the celebs like American Comedian and TV Host Ellen DeGeneres, who raised more than $33,000 for a food-relief organization by selling NFTs of her bad cat drawing. Additionally, Musician Shawn Mendes used the proceeds from his NFT collection to support young artists, Actress Paris Hilton donated the earnings from her NFTs to Meals on Wheels, a charity organization that helps feed struggling seniors.
The most common word here is NFT, which had a Google Trends (GT) score of 90 in between January 2022 to early February 2022, but it has dropped now to a score of 09.
Moreover, the blue chip non-fungible tokens (NFTs) also noted a drop in its score that it recorded at the beginning of 2022.
It can be measured as the statistics show the BAYC collection’s market valuation based on floor values was $2.33 Billion on Feb. 3, 2022 — 291 days later and the collection’s market cap is now only $615 Million.
Celebrities holding blue chip NFTs like BAYCs and Cryptopunks have recorded their NFTs lose a great deal of value over the last nine months.
On the other hand, the famous NFTs stemming from specific collections like BAYC, Cryptopunks, Otherdeed for Otherside, and Meebits are still a high price digital collectibles.
According to the nftpricefloor.com statistics, CryptoPunks collection has a total market cap of around 661,900 Ether.
Top-5 NFT sales in Last Hour:
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