Summary
TLDR: Yuga Labs’ NFT collections, including Mutant Ape Yacht Club and Otherdeed NFTs, have seen significant drops in value while other NFT projects are booming. Bored Ape Yacht Club has also experienced a drop in value from 152 ETH to 15.29 ETH. The Ape-verse is suffering more than other NFT projects in the recovering market, possibly due to the rise of other NFT projects like CryptoPunks. The future of Yuga’s Ape-themed metaverse in the NFT market remains uncertain.
Key Points
1. NFT collections created by Yuga Labs, such as Mutant Ape Yacht Club and Otherdeed, have seen significant drops in ETH valuations, reaching all-time low floor prices.
2. The marquee NFT collection, Bored Ape Yacht Club (BAYC), has also experienced a massive drop in value, with the cheapest BAYC NFT now priced at 15.29 ETH, compared to 152 ETH in the past.
3. While some NFT collections like CryptoPunks have seen growth in value, Yuga’s Ape-verse projects are suffering more in the recovering crypto and NFT market, shedding value more rapidly than other top projects.