Key Takeaways:
- Prices of major NFT collections have tanked
- Sales of Blue-Chip collections like Bored Ape Yacht Club and CryptoPunks are down
- Meanwhile, Milady Maker continues to defy market trends
YEREVAN (CoinChapter.com) — The prices of most blue-chip NFT collections continue to tank. Major collections, like Bored Ape Yacht Club (BAYC), CryptoPunks, Azuki, and Doodles, have seen their value erode extensively. However, one collection, the Milady Maker, seems to defy the prevailing price slump.
Come Milady, Come Come Milady
According to the tracking website NFT Price Floor, the collection has witnessed a remarkable surge in its floor price since January 2023. When the year opened, the cheapest collectible from the collection was available at $0.689 ETH.
The price of ETH at the start of the year was around $1,195. However, at the time of writing, one would have to shell out at least 4.3499 ETH ($7265) to get your hands on one.
On OpenSea, the Milady Maker floor price is slightly higher. The popular NFT marketplace gives its minimum price as 4.75 ETH or $7,917 while writing.
Milady Maker comprises a series of 10,000 generative profile-picture NFTs characterized by an artistic style influenced by urban subculture groups.
In May this year, the collection’s value experienced a dramatic surge of over 300% following a Milady Meme shared by Elon Musk on Twitter.
Despite price fluctuations, the price has managed to jump back up. It has performed far better than its other counterparts.
Blue Chip NFT collections down: Milady Maker stays up
While the Milady Maker collection surprises collectors, other popular projects remain low. The Ape collection best displays the market slump from Yuga Labs.
The Bored Ape Yacht Club (BAYC), arguably the most popular of all, has sunk to a 2-year low. At the time of press, its floor price is a meager 23.2 ETH or around $23,700. At its peak in May 2022, the collection fetched a minimum of 128 ETH (around $360,000).
This is the first time since August 2021 that the BAYC NFT price has been below the 30 ETH mark.
Mutant Ape Yacht Club, another popular and related collection from them, has tanked to 4.49 ETH. In April 2022, its floor price was no less than 35.58 ETH.
Meanwhile, Doodles, another blue-chip NFT project that made headlines, has tanked to oblivion. The cheapest Doodle today is worth 1.34 ETH ($2,235). One had to shed a little short of 20 ETH in May last year to get one.
At its peak in October 2021, Cryptopunks fetched a floor price of 113.9 ETH (~$407,000 at the time). Today, collectors can avail themselves of punk at just 47.69 ETH or $79,560. That is a discount of over 80%.
Charts reveal that the Milady Maker collection defies the downtrend in the market. Will it last? Time will tell.
