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Blue-Chip NFT Collections Hit Harder Than Bitcoin in Crypto Rout

  • Sales prices of Bored Ape Yacht Club NFTs and others crumble
  • The entire crypto market has fallen into a deep rout recently
The Bored Ape Yacht Club NFT collection on the OpenSea marketplace.

The Bored Ape Yacht Club NFT collection on the OpenSea marketplace.

Photographer: Tiffany Hagler-Geard/Bloomberg
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Blue-chip NFT collections like Bored Ape Yacht Club, which for a while outperformed the rest of the crypto market, are being hit harder than cryptocurrencies by a deep rout that is souring sentiment across the sector.

BAYC’s average sales price plummeted 29% over the last seven days in US dollar terms, while transactions have tanked by 21% and user numbers are down 27%, according to NFT watchers Price Floor and DappRadar.