Bored Ape Yacht Club NFTs: Lessons from Market Crash and Importance of Community Support

“The Bored Ape Yacht Club (BAYC)’s floor price plunged by approximately 82% signalling a significant drop in its NFT value. The trends highlight the importance of organic demand and a devoted community of stakeholders versus speculators, who can potentially destabilise the market. A combination of aggressive marketing to a mainstream audience and lack of in-depth understanding of the value proposition exacerbated the decline.”