The NFT minimum value is the minimum price a seller charges for an item in a collection. Azuki’s NFT, which sold out its Elementals collection in 15 minutes in June, earning $38 million in the process, had a 36% drop in minimum prices.
The NFT market has fallen on hard times of late. It was recently revealed that Jack Dorsey’s first NFT tweet has depreciated in value by almost 100%. The value of singer Justin Bieber’s NFT bought from the BAYC collection has dropped tenfold. The Canadian bought NFT for $1.3 million, but the token has fallen 95% in price in a year and a half, leaving Bieber with a loss of about $1.2 million.
Earlier in August, a trader who bought a non-mutualizable token from the Bored Ape Yacht Club collection for 777 ether 11 months ago sold it at an 80% loss.