Before we get started, this is not a recommendation or endorsement to buy any token or NFT mentioned.
One of the most well known NFT projects to launch during the crypto bull market was Bored Ape Yacht Club (BAYC). BAYC is self-described as “a limited NFT collection where the token itself doubles as your membership to a swamp club for apes.” BAYC rose to prominence for creating a universe and exclusive club around their signature NFTs. The BAYC founders and community members have launched games like the Mutant Arcade, executed on public charitable acts, and offered notoriously fun member benefits such as music festival and yacht party events at NFT NYC. Despite some controversy we won’t cover today, BAYC has managed to maintain a notable level of hype along with a relatively high floor price.
The floor price of an NFT collection refers to the lowest available sales price for an NFT in a collection. Unlike fungible tokens such as ETH or any ERC20 token, non-fungible tokens (aka NFTs) represent a good with unique properties, meaning each one will likely have a different price. The floor price of NFT collections has remained a relatively important stat, often priced in ETH, for tracking the level of interest in an NFT collection. It’s worth noting that a floor price can be higher than the all-time-high sales price. For example, BAYC enjoyed its highest floor price on April 30, 2022 at 144.9 ETH, when the price of ETH was $2738, meaning $396,736USD. However, the highest recorded sale of the lowest priced BAYC NFT ever sold was 100 ETH.
Floor price of BAYC NFTs according to NFTPriceFloor.com