Bored Ape Yacht Club: From hype to flop 📉

Bored Ape Yacht Club (BAYC) was the hottest NFT collection of 2022. It had 10,000 unique apes with perks and benefits. It sold out in minutes, and became a status symbol for celebs and influencers. At its peak, BAYC had a floor price of over $400k, and some apes sold for millions. It also had spin-offs and restaurants. 🍽️ But then, everything changed. The crypto market crashed, and so did BAYC. The floor price dropped to $69k, and many owners lost money. Some famous buyers, like Justin Bieber, lost over 90% of their investment. The hype died down, and the community became less active. What happened to BAYC? Was it a fad, or did it have value? Was it overpriced, or undervalued? Will it recover, or fade away? Share your thoughts below. #BoredApe #NFTs #CryptoCrash