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The NFT market, notorious for its unpredictability, witnessed another dramatic shuffle recently. While the Milady Maker NFT collection continues its ascent to glory, other giants like the Mutant Ape Yacht Club (MAYC) and the Bored Ape series face significant valuation challenges.
Let’s dive into this surprising development.
Milady Keeps on Climbing
The Milady Maker NFTs, emanating from the Ethereum blockchain, have achieved a new milestone with an all-time high (ATH) floor price of 4.468 ETH. This recent peak surpasses their previous record of 4.44 ETH just days prior.
But what makes Milady’s rise even more noteworthy is that it has officially overtaken the lauded MAYC, which has now dipped to 4.405 ETH from an impressive high of 17.5 ETH earlier this year.
Rooted in the vibrant street fashion trends of 2000s Tokyo, the Milady collection comprises 10,000 uniquely crafted profile picture (PFP) NFTs. Their captivating ‘neochibi’ aesthetic has become a symbol of meme culture virality on platforms like Twitter.
Furthermore, crypto influencers like Su Zhu and Ansem (@blknoiz06) have bolstered Milady’s reputation by choosing these NFTs as their digital insignias.
Read more: What Are NFT Trading Cards?
Coming for Your Apes
In contrast, Bored Ape prices are on a major downward trajectory. From a staggering floor price high of 128 ETH in May 2022, it has fallen back to just 23.59 ETH.
The BAYC series, especially the iconic BAYC #8585, is indicative of this decline. This particular ape was once celebrated as the priciest ‘Trippy’ BAYC at a whopping 777 ETH in October 2022. However, it has recently exchanged hands at a diminished 153 ETH.
While it retains its position among the top five most expensive Bored Apes on OpenSea, the recent trade highlights the fickle nature of the NFT valuation.
In this digital era, the volatility of the NFT marketplace remains evident. While collections like Milady chart an upward trajectory, others face stark valuation challenges.