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In a sign of the crash in interest over NFTs, the second-rarest Bored Ape NFT has gone under the hammer this week for just $370k – a far cry from the $3.4 million a similar item raised just two years ago.
Is the concept of NFTs losing its appeal, despite once being one of the most discussed and highly coveted asset types in the realm of fintech?
Sold NFT was Apparently BAYC’s Second Rarest Item
The BAYC NFT (#3953) was sold for 200 ETH, which at the time of writing amounts to slightly more than $370k. This came as a shock to many, as the item was ranked as the second rarest within the collection by many, including the rarity ranker website Rarity Sniper.
The NFT, depicting a cream-coloured ape munching on a pizza with its eyeballs out of their sockets, would have expected to command a significantly higher price during the peak hype of NFTs in 2021 or 2022. In fact, other NFTs from the same collection, which shared similar attributes, were sold for millions of dollars at one point, such as the Bored Ape Yacht Club NFT #8817, which was auctioned off at Sotheby’s for about $3.4 million back in 2021.
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