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After following a brief decline and several fluctuations, the floor price of Bored Ape Yacht Club (BAYC), a Yuga Labs-owned Non-fungible token (NFT) collection closed at 69 Ethereum (ETH) worth approximately $83,000 in 2022.
Amongst all the Yuga Labs NFT collections, BAYC was the highest in terms of floor price. It has been maintaining the position stealthily until sometime in November when it tanked and another Yuga Labs collection CryptoPunks surpasses its floor price valuation.
Nonetheless, BAYC was quick to take back its position from CryptoPunks. BAYC’s highest moment was in May when its floor price reached 144.9 ETH worth $409,720 at the time.
Yuga Labs Survives Crypto Winter Year
Generally, 2022 had a positive outlook for Yuga Labs and its NFT collections. Its projects were some of the most expensive digital collectibles sold last year.
Amidst the transition from an all-time high to a dip in market conditions leading to reduced sales on marketplaces, eight Yuga Labs collections made it to the list of the twelve most expensive NFT transactions.
The digital collections which made it to the list are CryptoPunks, BAYC or Mutant Ape Yacht Club, and Otherdeed with CryptoPunks dominating the list. Bored Ape NFTs were the least sold on the list with only $1.6 million.
Markedly, CryptoPunks was not an initial property of Yuga Labs, it was first introduced by Larva Labs in 2017. However, Yuga Labs bought its intellectual property in March 2022.
In the third quarter of the year, there were rumors making rounds about Yuga Labs’ plan to release a new NFT collection dubbed Mecha Apes, according to news podcast Protos. The release of the Mecha Apes NFT collection was scheduled for the end of 2022.
Until the end of the year, no official discussions were made concerning the supposed Mecha Ape NFTs. At the same time, Protos mentioned that Yuga Labs would secure $50 million from its Otherdeeds sales of 100,000 tokenized metaverse land. In terms of funding also, Yuga Labs was one of the few crypto projects that bagged sizable capital.
Led by venture capital firm Andreessen Horowitz known as a16z, Yuga secured $450 million in a seed round
The post BAYC NFT Ends 2022 With 69 ETH as Floor Price appeared first on Blockchain, Crypto and Stock News.
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