NFT Values Diverge as Select Collections Buck Market Downtrend

The non-fungible token (NFT) market is currently experiencing an NFT bull run, a divergence in value, with some collections going against the trend. Even blue-chip NFTs such as CryptoPunks and Bored Ape Yacht Club (BAYC) have seen their values plummet. Collections such as Proof Collective and Moonbirds Mythics are trending upwards and seeing significant price appreciation. This move is indicative of a larger investor sentiment shift. Investors are more interested in the projects providing clear, perceived long-term value rather than making speculative bets based on hype. The first NFT boom led to extraordinary speculation, driving prices to extraordinary heights. This is just a natural reaction of the market to itself, correcting and taking a step back to reevaluate.

Blue-Chip NFTs Feel the Chill

CryptoPunks, formerly one of the greatest success stories in the NFT world, have lost a staggering 80 percent of their value. The floor price for NFTs in this collection has decreased by 14%. This price is a completely fictive value that signifies the cheapest listing on the market at the moment.

Like most of the NFT market, the Bored Ape Yacht Club has taken a nosedive too. The collection’s floor price tanked by 18.67%, a direct embodiment of an overall loss of investor confidence and demand.

Proof Collective NFTs Rise

Unlike the plight of CryptoPunks and BAYC, Proof Collective NFTs have weathered the storm nicely and priced through royalty-less turbulence with resounding success. These NFTs have seen a huge boom, with their floor price recently reaching 0.40 ETH.

That is an incredible 59 percent jump since last month. It’s indicative of the depth of investor interest and growing confidence in the project’s value proposition. It looks like the Proof Collective is already pulling in investors who are looking for a little more than a flash in the pan.

Moonbirds Mythics Soar

Another large collection pushing against that downward force is Moonbirds Mythics. As a result, these NFTs have experienced explosive appreciation.

During the last month, Moonbirds Mythics’ floor price has surged an incredible 178%. This significant growth suggests that investors are recognizing the potential of these NFTs and are willing to invest in their long-term prospects.