Mutant Ape Yacht Club Revenue Hits The Lowest Level In 2022

Mutant Ape Yacht Club (MAYC) business revenue fell to a record after the market plunged in June. Compared to May revenue, MAYC trading volume was down 79%.

The NFT Mutant Ape Yacht Club (MAYC) collection is ranked as one of the most successful NFT projects of all time, with over $1.5 billion in sales. According to aggregated BeinCrypto, MAYC had sales of about $37.58 million in June of this year. This is also the lowest sales of this collection recorded in the year.

Compared to revenue in May, the above NFT trading volume has decreased by 79%. In May, MAYC’s revenue was about $180.66 million. This is proof that the bear market on crypto is impacting the NFT market.

With the popularity and popularity of Mutant Ape Yacht Club, the above number does not seem impressive. But overall, MAYC’s sales are still higher than sales of Axie Infinity, NBA Top Shots, Meebits, Moonbirds, VeeFriends, Doodles, The Sandbox, and CloneX.

Released on August 28, the Mutant Ape Yacht Club collection includes 20,000 Apes with a variety of human expressions. However, the effect of the character received excitement from the NFT-loving community. Therefore, Mutant Ape Yacht Club and Bored Ape Yacht Club are the two most sought-after NFT collections. Both of these collections were created by Yuga Labs.

A special feature is that MAYC’s NFTs are classified according to many levels equivalent to rarity and value. According to the introduction, the apes have random permutations and are classified into 3 grades: M1, M2, and M3. In which, M3 is the rarest, most unusual as well as most expensive level.

Looking at the drop in the number of unique buyers from June, the drop in sales volume has resulted in a drop in MAYC’s transaction count, with 1,075 sole holders and 1,587 transactions.

Related to April, when MAYC hit high monthly sales year after year. The number of sole holders is about 1,876, which corresponds to 2,812 transactions. At the end of that month, MAYC’s revenue reached $261.16 million.

Back in June, this was the first month of the year that Mutant Ape Yacht Club had less than $50 million in revenue. This is a new low for 2022, down $223.58 million in sales compared to April. MAYC’s average selling value is around $23,683. That means the token price has dropped 74% in the average selling value for April of $92,874.65.

Besides, the sharp drop in ETH prices also contributed to the decrease in revenue from MAYC. If the average price of ETH traded in April is around $3,000. Then in June, the highest ETH price traded at around $1,250.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join CoinCu Telegram to keep track of news: https://t.me/coincunews

Follow CoinCu Youtube Channel | Follow CoinCu Facebook page

Harold

CoinCu News