Board Ape NFT floor price has reached its lowest point in more than two and a half years

Bored Up Yacht Club (BAYC) Invincible Tokens has fallen more than 90% from its peak, to 11.1 Ether (ETH) – the lowest point since August 2021.

BAYC is now approaching a sub-10 NFT floor price after a 50% decline since March 1, according to the NFT price floor.

The Yoga Labs-backed NFT project launched in April 2021 – meaning the NFT price floor is now where it was four months after launch.

The NFT collection's fall from its May 1, 2022 peak of 128 Ether (ETH), is part of an industry-wide decline in popularity for digital art NFTs.

However, it should be noted that a few BAYC NFTs continue to trade significantly above the floor price – which is calculated by taking the lowest priced NFT in a given set.

For example, BAYC #830, sold last month for 504.3 Ether (US$ 1.92 million at the time) and many other rare items sold for more than 30 Ether in recent days.

The largest NFT pool by market cap, CryptoPunks, has fallen from its peak price of 113.9 Ether, but it's only down 64 percent.

Related: 5 Ways to Monetize Your Digital Art with NFTs

Meanwhile, industry analysts continue to speculate whether digital art NFTs could make a comeback.

Speaking to Cointelegraph, Shi Khai Wai, founder of Longhash Ventures, argued that digital art NFTs were “never intended to exist as projects on their own.” .

“It's hard to pick things up without a clear vision behind the brand and the actual products,” Wei explained.

However, NFTs could be a “tremendous force” for blockchain-based projects that already integrate in-game economies and offer NFT ownership, Wei added.

“If you already have a very clear vision, it's very easy. Here's the game, here's the infrastructure, here's the chain, here's the marketplace, and then you have the early adopter core community to embrace it. [behind it]He said.

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