The once-buzzy Bored Ape Yacht Club—a collection of digital primate NFTs whose owners include the likes of Justin Bieber and Steph Curry—is scuffling these days, and it's not hard to understand why. The market is skeptical of crypto as a whole, and that's especially the case for collectible NFTs that, for most people, are just digital monkeys.
Meanwhile, the so-called floor price for Bored Apes—the lowest sale price of any of the apes in the 10,000-piece collection—has tumbled as low as $54,000 this month, which is well off the peak floor price of $420,000 in early 2022. And the idea of anyone paying $2 million for a "rare" ape, as they did during last year's NFT mania, now sounds laughable. This raises the question of whether Bored Apes will still be around in a decade, or if they will be recalled as just another silly fad.
