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Bored Ape Yacht Club (BAYC) NFT Sales Test New Higher-Low Slipping More Than $290M

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Similar to more than 90% of NFTs, BAYC saw a significant reduction in sales volume due to negative market sentiment during the seventh month of the year. 

Bored Ape Yacht Club has climbed above CryptoPunks to become the second-largest NFT by all-time sales volume with more than $2.3 billion, as of August 10. 

Bored Apes had a total sales volume of around $52.7 million, according to Be[In]Crypto Research per data from CryptoSlam. 

Source: Bored Ape Yacht Club Sales Chart for July 2022 by CryptoSlam

While this metric may seem small due to the popularity of the BAYC project, it dwarfed sales from Otherdeeds, Mutant Ape Yacht Club (MAYC), Bored Ape Kennel Club (BAKC), CryptoPunks, Axie Infinity, and NBA Top Shots among others.

However, July’s sales were a 36% dip from June’s volume of $82 million.

Source: Bored Ape Yacht Club Sales Chart for June 2022 by CryptoSlam

Why the fall in BAYC sales? 

When you scrutinize the dip in the number of unique buyers from July, the fall in sales caused the drop in transaction counts, with 290 unique buyers, and 515 transactions.

In comparison to June, there was a 31% decrease in unique buyers (424) and transactions (748). 

In contrast to the metrics in January when Bored apes reached a peak in sales, unique buyers stood at 937 which corresponded to 1,456 transactions. In Jan, sales volume was about $346 million. 

Source: Bored Ape Yacht Club Sales Chart for Jan. 2022 by CryptoSlam

After generating less than $60
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