The Declining Value of Bored Ape Yacht Club NFTs
The floor price for Bored Ape Yacht Club (BAYC) NFTs has hit a 20-month low, indicating a decline in popularity. Other NFT collections are also experiencing drops in floor prices. However, floor price is just one factor in valuing NFTs.
Decreased NFT Royalty Payments
NFT creators are earning less from secondary sales compared to two years ago. Competition among NFT marketplaces has led to changes in royalty payment policies, with a minimum royalty payment of 0.5% being enforced by some platforms.
Trouble for Autograph and Tom Brady
Tom Brady’s sports collectibles site, Autograph, is reportedly changing its strategy away from crypto due to shrinking revenue. Despite this, other major brands and teams are still releasing sports NFTs.
HV-MTL Crafting Game for NFT Holders
Yuga Labs has launched a new crafting game called HV-MTL for holders of HV-MTL NFTs. Players can create a forge for their HV characters and earn rewards based on community voting. The game is currently only available to NFT holders.
Scammers and Crypto Wallet Security
Scammers are using social engineering tactics to trick crypto users into revealing personal information or accessing their wallets. It’s important to be aware of these scams and take steps to protect yourself.
Hot Take
The declining value of Bored Ape Yacht Club NFTs and decreasing royalty payments highlight the volatility and challenges of the NFT market. While some collections may experience drops in value, others continue to thrive. It’s essential for creators and collectors to adapt to changing market conditions and stay informed about potential scams in the crypto space.
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