Blue Chip NFT Series Flooring Prices Experience a General Decline

On April 17th, it was reported that several “blue chip” NFT series flooring prices experienced a general decline: the cool cat non homogeneous token series flooring prices fell to 1.03 Ethereum, a drop of 27.97% on the 30th; The floor price of the graffiti non homogeneous token series fell to 2.629 Ethereum, a drop of 27.83% on the 30th; The floor price of the clone X-X Longmura series of non homogeneous tokens fell to 2.575 Ethereum, a 25.5% drop on the 30th. Cool Cat Issue Price 0.025ETH; Graffiti issuance price 0.123ETH; Clone X was initially issued in Dutch auction, and each piece was priced at 3ETH. Later, its issuer RTFKT changed to fixed price 2 Ether.

The price of the cool Cats series NFT flooring fell below 1 ETH today

In recent news, on April 17th, it was reported that several “blue chip” NFT series flooring prices experienced a general decline. This article will delve into the reasons behind this drop in prices and how it has affected the crypto industry.

Why Did the Flooring Prices Decline?

The decline in the flooring prices of NFT series seems to be influenced by several factors. The most significant factor is the lack of demand. People are still hesitant to invest in NFTs, mainly due to their volatile nature and uncertainty of investing in digital art. This lack of demand has resulted in a decrease in prices as sellers compete to attract buyers.
Another factor that could have contributed to the decline in flooring prices is the high gas fees associated with buying and selling NFTs. Ethereum, the primary platform for NFTs, has been facing congestion issues that have resulted in an increase in gas fees. This has led to a decline in the number of transactions and, in turn, a decrease in demand.

Cool Cat Non Homogeneous Token Series

The cool cat non homogeneous token series is one of the NFT series that experienced a decline in flooring price. On the 30th of April, the floor price of the cool cat non homogeneous token series fell to 1.03 Ethereum, a drop of 27.97% from its previous price. The cool cat series was initially issued at a price of 0.025ETH.

Graffiti Non Homogeneous Token Series

Another NFT series that has experienced a decline in flooring price is the graffiti non homogeneous token series. The floor price of this series fell to 2.629 Ethereum, a drop of 27.83% on the 30th of April. The graffiti series was initially issued at a price of 0.123ETH.

Clone X-X Longmura Series of Non Homogeneous Tokens

The clone X-X Longmura series of non homogeneous tokens is also not immune to the decline in flooring prices experienced by NFTs. The floor price of this series fell to 2.575 Ethereum, a 25.5% drop on the 30th of April. The clone X series was initially issued in Dutch auction, and each piece was priced at 3ETH. However, its issuer RTFKT later changed to a fixed price of 2 Ether.

Implications on the Crypto Market

The decline in flooring prices of blue-chip NFT series has significant implications on the crypto market. Firstly, it shows that despite the hype, NFTs are still very much in their infancy and are susceptible to market forces like any other asset. Secondly, it shows that the crypto market is still evolving, and there is a lot of uncertainty in investing in digital assets. If NFTs are to become more widely recognized as an investment asset, they need to offer more stability and predictability.

Conclusion

The decline in flooring prices of blue-chip NFT series is a stark reminder that NFTs are still in their nascent stages and are subject to market volatility. As the crypto market continues to evolve, it’s important to strike a balance between innovation and stability to encourage wider recognition of NFTs as a legitimate investment asset.

FAQs

Q1. What caused the decline in flooring prices of blue-chip NFT series?
Ans. The decline in prices can be attributed to lack of demand and high gas fees associated with buying and selling NFTs.
Q2. What are the implications of this decline on the crypto market?
Ans. It shows that NFTs are still very much in their infancy and need to offer more stability and predictability to be recognized as a legitimate investment asset.
Q3. Can we expect the prices of blue-chip NFT series to recover anytime soon?
Ans. It’s difficult to predict, but with more stability in the crypto market, it is possible for prices to recover in the future.