Yuga Labs’ Ethereum-based NFTs experience a drop in value
Ethereum Yuga Labs Ethereum-based NFTs experience a drop in value Balita ng Ethereum ng Bitcoin Yuga Labs, a prominent player in the NFT space, has recently faced challenges as several of its NFT collections, including Mutant Ape Yacht Club (MAYC) and Otherdeed NFTs, have experienced significant declines in ETH valuations. These declines come at a time when other NFT projects, such as CryptoPunks, have seen substantial growth in value. Yuga Labs NFTs experience a drop in valuations MAYC, released in August 2021, has seen its floor price drop to 2.4 ETH, down from the initial minting cost of 3 ETH. Similarly, Otherdeed NFTs, which represent virtual land in Yuga Labs ape-themed metaverse game, Otherside, have fallen to a floor price of 0.23 ETH, from the initial minting cost of 305 ApeCoin, equivalent to $5,800 at the time of launch. The situation is mirrored in Yuga Labs flagship collection, Bored Ape Yacht Club (BAYC), where the floor price has plummeted to 15.29 ETH from a peak of 152 ETH. This decline is significant, considering that even a year ago, the cheapest Bored Ape NFT cost 72 ETH, which was valued at approximately $108,000 at the time. While the increase in the price of ETH over the past year