Blue-Chip NFTs Struggle, Floor Prices Drop Over 25% in 30 Days: Report Although

Blue-Chip NFTs Struggle, Floor Prices Drop Over 25% in 30 Days: Report Although the NFT market has recorded significant losses in recent months, the sector has gained adoption in several real-world use cases. Data analyzed by the on-chain analytics platform Nansen shows that blue-chip non-fungible tokens (NFTs) are struggling, and their floor prices have plunged significantly. According to the firm, the floor prices of most blue-chip NFTs crashed by more than 25% in the last 30 days. At the same time, the prices of a few collections recorded significant growth. Blue-chip NFTs are collectibles expected to have sustainable long-term value because of their cultural significance, historical trading activity, collector demand, rarity, and strong fundamentals. An NFT floor price is the lowest amount for which an asset within a collection can be bought or sold. It is updated in real-time, recorded in ether (ETH), and gives insight into the activity and health of an NFT. The past month has been unkind to top NFT collections like the Bored Ape Yacht Club (BAYC), DeGods, CryptoPunks, Azuki, Mutant Ape Yacht Club (MAYC), and Moonbirds. DeGods was hit the hardest with a 55% crash, while collections like Azuki Elementals and BAYC followed with 48% and 27% declines, respectively. The floor price of CryptoPunks recorded a minimal plunge of 4.26%. MAYC and Moonbirds also saw declines of 20% and 26%.