In 2021, Beeple’s NFT sold at Christie’s for $69.35 million.
NFT trading exploded. Bored Ape Yacht Club reached a 153.7 ETH floor. Scarcity, status, celebrity attention, and online communities pushed prices higher.
Then liquidity cracked.
NFT trading volume fell sharply in the second half of 2022, and by July 2023, BAYC’s ETH floor was 78.2% below its peak.
NFTs didn’t disappear.
But the mania exposed a brutal market truth:
A price means nothing if the next buyer won’t pay it.
Sometimes, you are the exit liquidity.
Sources:
• Christie’s — Beeple, EVERYDAYS: THE FIRST 5000 DAYS
• Sotheby’s — CryptoPunk #7523 / Natively Digital
• CoinGecko Research — Blue-Chip NFTs Price Crash
• DappRadar — Dapp Industry Report 2022
Music: “No Buyer Left” — Original track created with Suno.
#NFT #NFTCrash #Beeple #BoredApeYachtClub #Crypto #Investing #FinancialHistory #ExitLiquidity
