Bored Ape floor price falls below 30 ETH: Nifty Newsletter, July 5–11
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In this week’s newsletter, read about Ethereum nonfungible token (NFT) royalties hitting their lowest point in two years. Check out Bitcoin Ordinals trading volume, which hit $210 million in the second quarter of 2023, and how a decentralized finance (DeFi) borrower used an NFT representing a physical luxury watch to take out a loan. In other news, find out why Animoca Brands co-founder Yat Siu is still bullish on blockchain games, and don’t forget this week’s Nifty News, featuring a Sega executive’s opinion on play-to-earn gaming.
A report from blockchain analytics firm Nansen showed that royalties earned by NFT projects have reached a 2-year low. The dip may be fueled by lower NFT floor prices of popular collections like the Bored Ape Yacht Club and the Azuki Elementals launch controversy.