{"id":83464,"date":"2023-08-23T12:32:19","date_gmt":"2023-08-23T09:32:19","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=83464"},"modified":"2025-09-12T11:15:41","modified_gmt":"2025-09-12T08:15:41","slug":"one-of-baycs-priciest-nfts-falls-80","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/one-of-baycs-priciest-nfts-falls-80\/","title":{"rendered":"One of BAYC\u2019s priciest NFTs falls 80%"},"content":{"rendered":"<p>A rare non-fungible token <a href=\"https:\/\/opensea.io\/assets\/ethereum\/0xbc4ca0eda7647a8ab7c2061c2e118a18a936f13d\/8585\">#8585<\/a> from the Bored Ape Yacht Club (BAYC) collection was sold for a record-low 153 ETH (~$254,000). The asset has fallen 80% in value over 11 months.<\/p>\n<p>In October 2022, this NFT was bought for 777 ETH \u2014 about $1 million at the time of the deal. Even allowing for the market rebound since last autumn, the asset&#8217;s fiat value is down about fourfold.<\/p>\n<p>After the sale, BAYC #8585 lost its status as one of the collection&#8217;s most expensive tokens. It was considered rare due to its &#8216;trippy&#8217; fur, crown and other attributes.<\/p>\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/Snimok-ekrana-2023-08-23-v-12.14.48.webp\" alt=\"Snimok-ekrana-2023-08-23-v-12.14.48\" class=\"wp-image-214199\"\/><figcaption class=\"wp-element-caption\">BAYC #8585. Data: OpenSea.<\/figcaption><\/figure>\n<p>According to <a href=\"https:\/\/nftgo.io\/collection\/bored-ape-yacht-club\/activity\">NFTGo<\/a>, the sale took place on August 20 on the X2Y2 marketplace.<\/p>\n<p><a href=\"https:\/\/nftgo.io\/account\/ETH\/0x66666f58de1bcd762a5e5c5aff9cc3c906d66666\/NFT\">New owner<\/a> of the digital asset is an avid NFT collector. His portfolio includes 176 tokens from 15 collections. Among recent purchases are other BAYC and three <a href=\"https:\/\/u1f987.com\/en\/news\/what-are-cryptopunks\">CryptoPunk<\/a>.<\/p>\n<p><a href=\"https:\/\/u1f987.com\/en\/news\/opensea-to-discontinue-on-chain-operator-filter-tool-that-enforces-creator-royalties\">announced<\/a> the removal of the tool for mandatory royalty collection from 31 August. The decision <a href=\"https:\/\/u1f987.com\/en\/news\/mark-cuban-says-openseas-decision-to-drop-royalties-is-a-major-mistake\">was met with criticism<\/a> from creators who saw it as an encroachment on property rights.<\/p>\n<p>The creator of BAYC, Yuga Labs, also reacted sharply to OpenSea&#8217;s statement. The company will begin work on preventing the platform from trading their collections as it gradually abandons royalties.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cYuga believes in protecting creators&#8217; royalties so that creators receive proper compensation for their work,\u201d <a href=\"https:\/\/twitter.com\/yugalabs\/status\/1692627502999691453?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1692627502999691453%7Ctwgr%5Ee3d6ea74ceb94b68053d439328e14e79c670bb30%7Ctwcon%5Es1_&#038;ref_url=https%3A%2F%2Fnftnow.com%2Fnews%2Fyuga-labs-to-block-nft-trades-on-opensea-over-creator-royalties%2F\" title=\"\">stated<\/a> the CEO of the firm Daniel Alegre.<\/p>\n<\/blockquote>\n<p>In June, total royalties paid across NFT collections <a href=\"https:\/\/u1f987.com\/en\/news\/nft-royalty-payouts-hit-two-year-low\">dropped to a two-year low<\/a> \u2014 nearly 1,000 ETH.<\/p>\n<p>Earlier, pop star Justin Bieber reportedly <a href=\"<a href=\"https:\/\/u1f987.com\/en\/news\/justin-bieber-loses-1-2-million-on-nft-investments\">&#8221; title=&#8221;&#8221;>lost $1.2 million<\/a> on NFT investments. In January 2022, the singer purchased BAYC #3001 for 500 ETH on OpenSea.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>A rare non-fungible token #8585 from the Bored Ape Yacht Club (BAYC) collection was sold for a record-low 153 ETH (~$254,000). The asset has fallen 80% in value over 11 months.<\/p>\n","protected":false},"author":1,"featured_media":83465,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1356,1213],"class_list":["post-83464","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bored-ape-yacht-club","tag-nft"],"aioseo_notices":[],"amp_enabled":true,"views":"57","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/83464","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=83464"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/83464\/revisions"}],"predecessor-version":[{"id":83466,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/83464\/revisions\/83466"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/83465"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=83464"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=83464"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=83464"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}