Tag Archives: Bored Ape Yacht Club (BAYC)

Riding in the coattails of a broader market resurgence, the NFT trading space witnessed in 2024 Q1, with volumes across the top 10 marketplaces soaring to $4.7 billion. According to CoinGecko’s latest report, Blur maintained its stronghold as the leading NFT marketplace during this period. During the first quarter of 2024, Blur recorded $1.5 billion in volume while at the same time, capturing a 27.6% market share, up from the previous quarter. Closely following behind is...

Yuga Labs, creator of the Bored Ape Yacht Club (BAYC) NFT collection, has announced the sale of the intellectual property rights for two of its games. This move is part of Yuga Labs’ previously declared commitment to refocus its organizational efforts. Yuga Labs Hands Over Gaming IPs to Faraway In an April 17 announcement on X, Yuga Labs revealed the decision to transfer the IP rights of HV-MTL and Legends of the Mara to Faraway. We have some exciting news to share. Our...

The Bored Ape Yacht Club (BAYC), formerly a leading Ethereum non-fungible token (NFT) market collection, has witnessed a significant decrease in its floor price. This downturn signifies a reduction exceeding 90% from its historical peak, noted approximately two and a half years ago. BAYC is nearing a sub-10 NFT floor price, a development attributed to a 50% decline since March 1st alone. BAYC Floor Price Plummets Below 11 ETH According to data from NFT Price Floor, on Monday,...

In a recent post on X, Wylie Aronow, the former founder of Yuga Labs, addressed ongoing rumors about a potential return to a leadership role within the company. Aronow, who took a step back from his position in January of this year to prioritize his health, has clarified the speculation and given additional insights into the company. Yuga Labs Founder Addresses Leadership Speculation In addressing the speculation on his leadership role at Yuga Labs, Aronow openly acknowledged...

Yuga Labs, the creative force behind the popular Bored Ape Yacht Club (BAYC) NFT collection, has completed a restructuring phase to position it for long-term success. In a message to the community, Yuga Labs CEO Daniel Alegre shared insights into the company’s journey, achievements, and a renewed focus on the metaverse project, Otherside. Yuga Labs Sets Sights on Otherside Metaverse Project Yuga Lab’s CEO, Daniel Alegre, recently took to X to announce that the team had...

US prosecutors have charged Soufiance Oulahya, presently in legal custody in Morocco, with stealing cryptocurrencies and NFTs worth $450,000 from a victim in Manhattan by creating a fake OpenSea marketplace in 2021.   A release from the United States Attorney’s Office Southern District of New York said the defendant illegally obtained the seed phrase of the victim by spoofing and used it to steal their collection of digital art.  Details of the Case Oulahya stole four NFTs...

Justin Bieber might be iconic on stage, but his investment strategy, at least in terms of NFTs, certainly missed the mark. The famous Canadian pop star paid $1.3 million for a Bored Ape NFT last year, which is now worth only around $59,000. Foraying the hyped NFT space during the digital asset bull run seemed like a lucrative and exciting addition to many celebrities’ investment portfolios. However, many who sang the praises of these non-fungible tokens have not managed to...

Nonfungible tokens (NFTs) have not recovered anywhere near the levels that crypto markets have. Even the largest collections in the industry, such as Yuga Labs’ Bored Ape Yacht Club, are heavily discounted. On July 3, Reflexivity Research co-founder Will Clemente revealed that BAYC was down 90% from its all-time high. Floor prices for the Ape-themed NFTs have slumped over the past few days, falling 23% over the last week. According to NFT marketplace OpenSea, the floor price...

Certain traders have recently sold NFTs part of the Bored Ape Yacht Collection (BAYC) at a discount to invest in the now-trending memecoin – PEPE. The asset has been among the best performers in the crypto market lately, as its price has surged by over 600% over the last two weeks before cooling off in the past 24 hours. Shifting From NFTs to PEPE The popular Twitter user Cirrus revealed recently that some traders had sold 14 BAYC NFTs below their floor price during the...

Silicon Valley Bank (SVB) was the backbone of many startups and venture capital funds around the world. Its collapse signifies the biggest banking failure since the 2008 financial crisis. While the crypto market has largely been spared from an adverse effect, the same cannot be said for the non-fungible token (NFT) space. According to the latest edition of the DappRadar report, the NFT traders went “numb” in response to the banking turmoil in the United States. NFT Space...