Which NFT Projects Experienced The Largest Collapse In The Floor Price In 2021

Here are the big projects falling from the moon. Which ones still have some fuel left in the tank? Non-fungible tokens (NFTs) have been gaining traction lately, with speculation mounting on the possibility of integrating them in the metaverse and other use cases.

In simpler terms, NFTs are digital assets/artworks – video game collectibles, painting, GIFs, etc. – cryptographically designed on the blockchain with unique attributes. Unlike cryptocurrencies, NFTs are not mutually interchangeable.

In 2021, most NFTs like Hashmasks and Doge skyrocketed while few NFT projects experienced big drops. Some of the digital arts that took off were backed by increased interest in the artists and had celebrities get on the bandwagon.

The Currency NFT

The Currency NFT is a collection of 10,000 artworks by Damien Hirst, one of the richest artists in the United Kingdom. As of August 2021, the NFTs had a floor price of around 14.9 ETH. However, the floor price has collapsed by more than 64% to 5 ETH, an equivalent of $16.4k during the time of writing. In September, the floor price began dropping after reaching a high of 18 ETH.

APE DAO REMIX! NFT

The 5,550 APE DAO REMIX! NFTs were derived from the first 50 BAYC NFTs and currently have a market capitalization of over $540,000. Although the project has about 2,600 owners, the floor price came crashing down from September from 0.56 ETH to 0.07 ETH, which is more than an 87% decline.

Bored Ape Comic NFT

This NFT project constitutes 10,000 unique pieces, which are currently worth nearly $1 million in market capitalization. The floor price of the Bored Ape Comic NFTs dropped by more than 73%, from 0.15 ETH to as low as 0.04 ETH.

Dark Super Bunnies NFT

The market capitalization of Dark Super Bunnies NFTs has been on the decline for some months now, likewise the floor price. In August, the project saw a rush that pushed the floor price up to 0.50 ETH. Presently, the price has collapsed to 0.01 ETH, which is a 98% decrease from the level in August. The market cap now sits around $148,000.

NFTs That Skyrocketed In 2021

CryptoPunks

Shalom Meckenzie, the highest shareholder of DraftKings picked the CryptoPunks #7804 NFT for $7.5 million (4,200 ETH) in March 2021. CryptoPunks #7804 is among the alien collection’s most rare.

Hashmaks

Hashmaks NFT comprises 16,384 distinctive digital portraits. More than 70-artists across the globe combined to put the collection together. Hashmaks were sold at $16 million, and one of the pieces made a 100,000% profit within 3-days.

Bored Ape Yacht Club

The project was developed in April 2021, and it recorded an all-time trade volume of $1.05 billion. On average, each of its NFT is worth $104,400. In October 2021, Sotheby’s sold Bored Ape #8817 for $3.4 million.

Outlook for 2022

For NFTs, 2021 was a year of unimaginable growth. Just like digital currencies, the NFTs space can be unpredictable. Many NFT lovers are eager to know what’s next.

Will NFTs retain their floors or do better in the new year, or will there be a crash?

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