Blue-chip NFTs like CryptoPunks, Bored Ape Yacht Club and Mutant Ape Yacht Club are no longer immune to the recent collapse in cryptocurrency prices, with one closely watched benchmark -- the lowest priced item in the collections -- down about 50% in the last month.
For months, many top-tier nonfungible tokens -- particularly Bored Apes -- have held their value even when Bitcoin and Ether prices were falling. That’s changing now, with the Nansen Blue Chip-10 Index sliding 41% so far this year. JPG NFT Index, which debuted this spring and features “premier” collections like CryptoPunks, fell to its lowest value yet Thursday, and is down 57% in a little over a month, according to data tracker CoinMarketCap.
