According to NFT Price Floor data, the floor price of Bored Ape Yacht Club (BAYC) NFT has dropped to its lowest point since August 2021. The data shows that the once-popular NFT floor price dropped to 10.036 ETH yesterday (it has since rebounded to above 11 ETH at the time of writing), a decrease of over 90% compared to its historical high of 128 ETH.
The BAYC NFT series was first launched in April 2021 and gained popularity with many celebrities holding and promoting the NFT during the peak of BAYC’s hype. However, as time went on, the overall NFT market slumped, and even BAYC, considered one of the most successful and active communities in the market, couldn’t escape the decline.
According to Zombit report, American comedian Kevin Hart previously purchased the Bored Ape NFT with the number #9258 for 79.5 ETH (valued at around $200,000 at the time). It was sold in March this year for 13.782 ETH, and after deducting taxes, Kevin Hart received 13.43745 ETH (approximately $46,500). This means that Kevin Hart’s investment in this NFT has incurred a loss of over 76% in terms of USD value.
However, there have been rumors suggesting that Kevin Hart, Justin Bieber, Madonna, and other celebrities who hold BAYC NFTs did not buy them with their own money. Instead, they were given for free by the cryptocurrency payment company MoonPay in exchange for marketing and promotion of MoonPay.
