Bored Ape Yacht Club Sales Decreased By $200 Million

In February 2022, Bored Ape Yacht Club generated around $110 million. Although this appears to be a very high volume when compared to other NFT marketplaces, Bored Ape Yacht Club was down around $311 million, signifying a $200 million drop in volume in 28 days.

BAYC reached an ATH in single-day sales volume in Aug 2021, hitting approximately $55 million.

It had 815 unique buyers and a total transaction count of 1,063 at its peak in January. However, those numbers failed to be matched the following month, with 301 unique buyers of Bored Ape Yacht Club’s collections resulting in a total of 352 transactions. This means that the number of unique buyers and total transactions declined by 63% and 71%, respectively, in February.

This tumbled by 53% to approximately $25 million on Nov. 16, 2021.

The single-day peak sales volume in 2022 began on January 30, when BAYC saw liquidity in the amount of $36 million in its NFTs. Unfortunately, this figure fell by 73% on Feb. 1, when BAYC generated around $9.58 million.

Yuga Labs, the creators of BAYC, announced that they had purchased NFT marketplaces Meebits and CryptoPunks from Larva Labs, giving the team behind BAYC ownership of two of the top five NFT marketplaces in terms of sales volume.

ApeCoin (APE), the official BAYC coin, was introduced last week. It began at $1 and rose to an intermediate high of $39.40 before plummeting 78% at the close. It will be used by Yuga Labs as the “primary token for all new products and services.”

This will include a blockchain game that will be released later this year. Among the Ape Foundation’s board members is Reddit co-founder Alexis Ohanian, FTX’s head of initiatives and games, Amy Wu, and Yat Siu, co-founder and chairman of Animoca.

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.

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