--- title: "Even Bored Ape NFT Prices Are Plummeting Now" description: "Web3 assets continue their impressively catastrophic nosedive today, as NFTs — even celeb-favored BAYC — reach remarkably new lows in value." date: "2022-06-30" modified: "2022-06-30" authors: - name: "Maggie Harrison Dupré" job_title: "Senior Staff Writer" link: "https://futurism.com/authors/mharrison" url: "https://futurism.com/the-byte/bored-ape-nft-prices-plummet" categories: - "Blockchain" - "Future Society" - "NFTs" tags: - "bayc" - "crypto" - "nfts" - "the digest" --- # Even Bored Ape NFT Prices Are Plummeting Now ![Web3 assets continue their impressively catastrophic nosedive today, as NFTs — even celeb-favored BAYC — reach remarkably new lows in value.]() *\Image: OpenSea/Futurism\* ## BAYCrash Web3 assets continue their impressively catastrophic nosedive today, as NFTs — you know, those extremely expensive digital artworks that celebs have both [loved]() and [lost]() — reach remarkably new lows in value. *Bloomberg* [reports that]() this will likely be the first month since June 2021 that NFT sales will have failed to reach $1 billion overall. Meanwhile, well known high-dollar NFTs, including the [Bored Ape Yacht Club's]() blue-chip collection, have seen price floors fall by 30 percent or more in just 30 days. "Without question, the NFT market has fallen off the cliff this June," said Pedro Herrera, head of research at blockchain data-tracker DappRadar, to *Bloomberg*. "While the market is way more mature, it is fair to say that in recent weeks, investors were looking for safer places to put their money amid the Terra collapse and the rumors surrounding potential liquidations." ## Spiralling This latest low comes on the heels of a high profile — and angry — copyright infringement lawsuit [filed by BAYC owner Yuga Labs](), which has sued someone minting copies of its precious simians. The case has sparked its fair share of conversation, and [has perhaps reaffirmed]() much of the fear, apprehension, and even [billionaire ridicule]() that digital assets are often met with. Still, despite the fact that the [NFT JPG index]() is down by 70 percent since its April launch, some investors and analysts are hopeful that the industry is just going through some growing pains. "Much of the craziness was bled out of NFTs and they are going through a period of consolidation," said *Bloomberg*'s Aaron Brown, a columnist and crypto investor. "I suspect they will survive, but on a much more sensible basis than at the height of the mania." In the long view, Brown could be right. But as it stands now, the crypto world is struggling across the board. Whether digital monkeys are headed for their doom, or the industry really is just in a winter, remains to be seen. **READ MORE:** [*NFTs Have ‘Fallen Off the Cliff’ as Sales Sink to Lowest Levels in a Year*]() \[*Bloomberg*\] **More on Web3 viability:** [*Blockchain Guy Struggles to Explain a Single Practical Use for Web3*]() ## Author At Futurism, I've reported extensively on the rise of AI as a cultural and business force shaping the media industry, and more broadly how those dynamics are changing how we all consume and share information and relate to one another. I'm also fascinated by public health policy and ethics, the role of emerging tech in politics and governance — and the powerful people and forces at those intersections — climate change, and the environment. My investigation on Sports Illustrated's use of AI-generated authors with fictional biographies won a 2024 Mirror Award for "Best Story on Media Coverage of Artificial Intelligence in Journalism and the Media" from Syracuse University's SI Newhouse School, I contributed to Niemen Lab's 2025 Predictions for Journalism series, and I've discussed my work for Futurism during appearances on NPR, CNN, the BBC, the CBC, and more. I grew up in rural Pennsylvania and attended the University of Massachusetts Amherst, where I played Division I field hockey for the Minutewomen as a midfielder. Since then, I've lived in New Orleans, Louisiana and Manhattan, New York. I spend my free time running, reading, perusing archival fashion, and searching for the world’s best negroni. I also have a debonair tuxedo cat, Westley, who's named after "The Princess Bride." ### Author social links [Bluesky]()