Blue-Chip NFTs Struggle, Floor Prices Drop

Blue-Chip NFTs Struggle, Floor Prices Drop

Blue-chip non-fungible tokens (NFTs) are having difficulties, as evidenced by the data examined by the on-chain analytics platform Nansen, and their floor prices have dropped significantly.

According to the firm, the floor prices of most blue-chip NFTs crashed by more than 25% in the last 30 days. A few collections’ prices increased significantly at the same time.

The past month has been challenging for top NFT collections like BAYC, DeGods, CryptoPunks, Azuki, Mutant Ape Yacht Club, and Moonbirds. DeGods experienced a 55% crash, followed by Azuki Elementals and BAYC with 48% and 27% declines, respectively. CryptoPunks’ floor price plummeted by 4.26%, while MAYC and Moonbirds experienced 20% and 26% declines. However, some collections experienced positive growth, with Milady’s floor price increasing by 66% to 4.59 ETH, close to MAYC’s price of 4.74 ETH.

The Sproto Gremlins NFT collection reached a floor price of 1.6 ETH after soaring 262% in the past 30 days. Most holders recorded significant wins, with the top 20 being legendary collectors and six uncommon ones without smart money addresses. Some collectors have sold their NFTs for profit.

(With inputs from Shikha Singh)

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