While the NFT industry is receiving a lot of negative press, demand is still strong for some high-end collections like Bored Ape Yacht Club.
A particularly distressing statistic revealed that trade on the NFT marketplace OpenSea had declined by 99% in terms of dollars from its high in May.
While celebrities continue to promote various new initiatives and collections, there is a bit more scoffing on social media due to the oversaturation of digital collectibles in the market and the impression that there are infinite money grabs.
Yet despite the falling value of ethereum, there are already offers to acquire Bored Apes for over $100,000 on the table.
