{"id":466453,"date":"2022-06-21T23:45:11","date_gmt":"2022-06-21T20:45:11","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/once-hot-nft-collections-tank-alongside-cryptocurrencies\/"},"modified":"2022-06-21T23:45:11","modified_gmt":"2022-06-21T20:45:11","slug":"once-hot-nft-collections-tank-alongside-cryptocurrencies","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/once-hot-nft-collections-tank-alongside-cryptocurrencies\/","title":{"rendered":"#Once-hot NFT collections tank alongside cryptocurrencies"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_84 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a23e9cbf211f\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a23e9cbf211f\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/once-hot-nft-collections-tank-alongside-cryptocurrencies\/#%E2%80%9COnce-hot_NFT_collections_tank_alongside_cryptocurrencies%E2%80%9D\" >&#8220;Once-hot NFT collections tank alongside cryptocurrencies&#8221;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9COnce-hot_NFT_collections_tank_alongside_cryptocurrencies%E2%80%9D\"><\/span>&#8220;Once-hot NFT collections tank alongside cryptocurrencies&#8221;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div>\n<aside class=\"single__inline-module alignleft\">\n<\/aside>\n<p>Once-hot NFT collections, including the celebrity-backed Bored Ape Yacht Club and CryptoPunk <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/watch-movies-tv-seriess\/\" data-internallinksmanager029f6b8e52c=\"8\" title=\"Watch Movies &amp; TV Series\" target=\"_blank\" rel=\"noopener\">series<\/a>, have tanked alongside cryptocurrencies and the stock market, leaving many digital collectible investors deep in the hole.\u00a0<\/p>\n<p>The Bored Ape Yacht Club series \u2014 which has been endorsed by celebrities including Tom Brady, Madonna, Jimmy Fallon and Future \u2014 has seen its value crumble in recent months as the Federal Reserve hikes interest rates and the economy is squeezed by inflation.\u00a0<\/p>\n<p>The \u201cprice floor\u201d for Bored Apes \u2014 a measure of the lowest asking price for NFTs in the collection \u2014 has collapsed 75% from more than $400,000 as recently as April to less than $100,000 on Tuesday, according to <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/nftpricefloor.com\/bored-ape-yacht-club\">data from tracker NFTpricefloor.com<\/a>.\u00a0<\/p>\n<p>That\u2019s a greater decline than bitcoin, the world\u2019s most popular cryptocurrency, which has tumbled by around 55% since April 1. <\/p>\n<p>CryptoPunks NFTs, meanwhile, fell 66% from $230,000 at some points in April to less than $78,000 as of Tuesday, according to the site.<\/p>\n<p>Overall transaction volume in the NFT market has likewise collapsed. There have been $650 million in NFT sales so far in June, compared with $3.7 billion in April and $3 billion in May, <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/cryptoslam.io\/nftglobal\">data from industry site CryptoSlam<\/a> show.<\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"682\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/06\/nft-nyc-31.jpg?w=1024\" alt=\"NFTs\" class=\"wp-image-22747424\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/06\/nft-nyc-31.jpg?quality=75&amp;strip=all&amp;w=1535 1536w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/06\/nft-nyc-31.jpg?quality=75&amp;strip=all 1024w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/06\/nft-nyc-31.jpg?quality=75&amp;strip=all&amp;w=512 512w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\"\/><figcaption>There will be 15,000 NFT fanatics are descending on Manhattan this week for the NFT.NYC conference. <\/figcaption><figcaption><span class=\"credit\">Getty Images<\/span><\/figcaption><\/figure>\n<p>Despite the bleak market, throngs of NFT fanatics are descending on Manhattan this week for a massive event series celebrating the digital collectibles.\u00a0<\/p>\n<p>The NFT.NYC conference, which kicked off Tuesday and runs through Thursday, has seen NFT fans put on brave faces as they shuttle between networking sessions and panels at venues like Radio City Music Hall.\u00a0<\/p>\n<p>Last year\u2019s event in November 2021 came as Ethereum and Solana \u2014 the primary cryptocurrencies used to trade NFTs \u2014 hit all-time highs. It also attracted celebrities like Quentin Tarantino and Logan Paul. Musical acts included chart-topping r<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>er Lil Baby and New York rock legends The Strokes performed at a Bored Ape party during the conference.\u00a0<\/p>\n<figure class=\"wp-block-image size-large is-resized\"><img decoding=\"async\" loading=\"lazy\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/06\/nft-nyc-25.jpg?w=1024\" alt=\"NFT NYC\" class=\"wp-image-22747457\" width=\"618\" height=\"411\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/06\/nft-nyc-25.jpg?quality=75&amp;strip=all&amp;w=1233 1236w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/06\/nft-nyc-25.jpg?quality=75&amp;strip=all&amp;w=925 927w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/06\/nft-nyc-25.jpg?quality=75&amp;strip=all&amp;w=618 618w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/06\/nft-nyc-25.jpg?quality=75&amp;strip=all&amp;w=308 309w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/06\/nft-nyc-25.jpg?quality=75&amp;strip=all 1024w\" sizes=\"auto, (max-width: 618px) 100vw, 618px\"\/><figcaption>The NFT.NYC conference runs through Thursday. <\/figcaption><figcaption><span class=\"credit\">Getty Images<\/span><\/figcaption><\/figure>\n<p>This year\u2019s conference, by contrast, comes under the shadow of the market slump and appears to feature fewer A-list stars. The biggest names announced this year are rappers French Montana and Jim Jones, who spoke alongside record industry executives at Radio City Music Hall on Tuesday. Dance DJ Deadmau5 was set to perform at a NFT event at a nightclub in Bushwick, Brooklyn, on Tuesday night.\u00a0<\/p>\n<aside class=\"single__inline-module alignright\">\n    <\/aside>\n<p><a href=\"https:\/\/buradabiliyorum.com\/en\/category\/general\/\" data-internallinksmanager029f6b8e52c=\"3\" title=\"General\" target=\"_blank\" rel=\"noopener\">General<\/a> admission tickets to the conference cost between $600 and $850, while VIP passes went for as much as $2,000.\u00a0Organizers say 15,000 people are attending the conference.  <\/p>\n<p>In May, The Post reported that high-profile NFT auctions were increasingly flopping. An auction of three works by Madonna and Beeple \u2014 who auctioned off an NFT for a record $69 million in 2021 \u2014 sold for just $135,000, $146,000 and $346,000.<\/p>\n<p>In another dramatic example, plans to sell an NFT of <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Twitter<\/a> founder Jack Dorsey\u2019s first tweet that had previously sold for $2.9 million were scrapped in April after the highest bid came in below $14,000\u00a0<\/p>\n<p>Nick Rose, founder and CEO of NFT platform Ethernity Chain, told The Post at the time that NFTs were selling for \u201cunexpectedly low\u201d prices.\u00a0<\/p>\n<p>\u201cNFTs blew up when stimulus checks were coming in but they grew too fast,\u201d Rose said<\/p>\n<p><em>\u2014Additional reporting by Lydia Moynihan<\/em>\n                        <\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/news\/\" target=\"_blank\" rel=\"noopener\">News category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/nypost.com\/2022\/06\/21\/once-hot-nft-collections-tank-alongside-cryptocurrencies\/\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;Once-hot NFT collections tank alongside cryptocurrencies&#8221; Once-hot NFT collections, including the celebrity-backed Bored Ape Yacht Club and CryptoPunk series, have tanked alongside cryptocurrencies and the stock market, leaving many digital collectible investors deep in the hole.\u00a0 The Bored Ape Yacht Club series \u2014 which has been endorsed by celebrities including Tom Brady, Madonna, Jimmy Fallon&#8230;<\/p>\n","protected":false},"author":1,"featured_media":466454,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/06\/newspress-collage-22741943-1655843997045.jpg?quality=75&strip=all&1655829797&w=1024","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[95118,130555,76127,73785,71407],"class_list":["post-466453","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-nft","tag-6-21-22","tag-cryptocurrency","tag-markets","tag-trading"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/466453","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=466453"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/466453\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/466454"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=466453"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=466453"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=466453"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}