Bored Ape Yacht Club (BAYC) Flips CryptoPunks in NFT All-Time Sales Ranking

NFT

Bored Ape Yacht Membership NFT’s reputation amongst celebrities coupled with growing curiosity by particular person collectors has seen it surpass CryptoPunks in all-time gross sales.  

Bored Ape Yacht Membership has seen its gross sales outperform competitor tasks reminiscent of Mutant Ape Yacht Membership (MAYC), Artwork Blocks, Otherdeed, NBA High Shot, Azuki, CloneX, VeeFriends, and Moonbirds. Extra importantly, BAYC’s $2.4 billion in gross sales quantity has exceeded one of the vital profitable digital collectibles tasks, CryptoPunks. 

Supply: Bored Ape Yacht Membership Gross sales for 2022 Rank by CryptoSlam

Launched in April 2021, Bored Ape Yacht Membership is comprised of 10,000 distinctive NFT digital collectible ape avatars. Like most NFTs, the venture struggled in its first month producing simply $37,557 in gross sales. There have been 141 distinctive patrons and 176 whole transactions. The common sale worth was $213.39 — far beneath the price of 1 ETH.

Could 2021 was the most effective months within the buying and selling historical past of Ether, the novel asset behind the Ethereum ecosystem. Using ETH as the bottom forex for NFT transactions noticed the coin attain a then all-time excessive of $4,362 in the course of the month, CoinMarketCap information confirmed.

Bored Ape NFT gross sales benefitted massively from the large liquidity that was poured into the market and quantity reached roughly $17 million, a forty five,463.5% improve in 31 days. Distinctive patrons and whole transactions soared by 2,417.73% and 5,158.52% respectively from April.

BAYC gross sales reached a brand new milestone in August 2021 when the market was recovering from a bearish pattern that began with the delisting of Bitcoin (BTC) as a fee technique for Tesla merchandise and was then adopted by China’s steady crackdown on the crypto finance trade in Could.

Inside the interval, BAYC generated roughly $299 million. Regardless of a diminished 1,880 distinctive patrons and three,506 whole transactions, the common sale worth ascended to $85,288. This was a 551% rise within the common sale worth from July’s $13,091.

Supply: Bored Ape Yacht Membership August 2022 Gross sales Chart by CryptoSlam

Different months which additionally made important contributions to BAYC’s all-time gross sales included September and November of 2021. 

Bored Ape Yacht Membership continues to see respectable month-to-month gross sales in 2022 

In 2022, Bored Apes performed a significant function within the launch of the venture’s native asset, APE in addition to a Metaverse known as the Otherside.

After Bitcoin (BTC), Ether (ETH), and several other altcoins reached new all-time highs in November of 2021, bears took over the market. 

The outcome was a drop in international NFT gross sales from $2.82 billion in November to $2.74 billion in December. This totally affected BAYC with gross sales reaching a two-month low to shut 2021.  

All the NFT market reached a yearly excessive of $4.6 billion in gross sales with multiple million distinctive patrons and over 800,000 transactions in January 2022.  

Supply: January 2022 NFT World Gross sales Chart by CryptoSlam

Out of this, 7% ($346 million) got here from Bored Ape NFTs.

Supply: January 2022 BAYC Gross sales Chart by CryptoSlam

For the reason that finish of January, there was a decline in NFT gross sales, and BAYC has not been spared. 

There was a constant dip in month-to-month gross sales, resulting in volumes of lower than $60 million in July. Gross sales for August have been round $52.7 million, as of Aug. 28. With the substantial fall within the variety of distinctive patrons and transactions, gross sales for August will doubtless not be crossing the $60 million mark. 

CryptoPunks falls behind Bored Ape in all-time NFT gross sales 

For a very long time, CryptoPunks trailed solely Axie Infinity in gross sales rankings. Bored Ape Yacht Membership has now usurped the second-place rank after hitting $2.4 billion in all-time gross sales, barely forward of CryptoPunks’ gross sales of $2.36 billion. 

Supply: All-Time NFT Initiatives Rating by CryptoSlam

Created by Larva Labs and launched in June 2017, CryptoPunks consists of a hard and fast set of 10,000 characters and is among the oldest NFT collections within the house.

As a pioneer NFT, CryptoPunks didn’t see a minimal of $1 million in month-to-month gross sales till September 2020 when $2.96 million was generated in gross sales.

With an insignificant variety of distinctive patrons and whole transactions within the first 39 months of its existence, the digital collectibles venture lastly noticed 292 distinctive patrons, comparable to 2,079 whole transactions. The common sale worth crossed $1,000 for the primary time in September 2020 and ultimately settled at $1,424.

Gross sales of CryptoPunks took off strongly in 2021 with a minimal quantity of $6 million and a most which represents its all-time month-to-month excessive of roughly $679 million. There was a 316% improve in distinctive patrons, a 21% rise in whole transactions, and an 18,741% spike in common sale worth from September 2020. 

Supply: August 2021 CryptoPunks’ Gross sales Chart by CryptoSlam

Different months which made substantial contributions to gross sales in 2021 have been July, September, October, and December. 

After mirroring the rising gross sales of NFTs in January, CryptoPunks noticed a yearly peak of $124 million. 

Since January 2022, month-to-month gross sales have remained beneath $100 million. Within the final 4 months (Could to August), CryptoPunks have seen lower than $50 million in quantity. 

A lot of the decline might be attributed to a major discount within the variety of distinctive patrons which has led to an additional lower in whole transactions and common sale worth. 

Whereas month-to-month distinctive patrons have remained below 300, whole transactions haven’t surpassed 600 since December of 2021. 

The acquisition of the venture by Yuga Labs in March was presupposed to influence the gathering positively since “acquisition” is a main driver of gross sales. Sadly, it has performed little to assist the fortunes of the NFT. 

Apart from that, market saturation (a rise within the variety of NFT tasks within the trade) can even clarify the steep decline within the month-to-month gross sales of CryptoPunks. 

Whereas Bored Ape NFTs have thrived this 12 months as a consequence of their reputation and use by celebrities over CryptoPunks, its sale obtained a lift from BAYC being a significant eligibility requirement for the airdrops of ApeCoin in addition to land deeds (Otherdeeds) from the Otherside Metaverse by creator Yuga Labs. 

Total, these contributed massively to the above-average month-to-month gross sales of BAYC in the course of the market crash of Could which deepened in June and prolonged to July and August.