Reading 5 minutes Published Updated
Blue chip floor prices close to two-year lows
The largest collections of non-fungible tokens (NFTs) by market capitalization are in the red sea as the cheapest NFTs in their collections have fallen over the past week, with some hitting nearly two-year lows.
Yuga Labs’ Bored Ape Yacht Club (BAYC) flagship collection — the second largest market cap according to CoinGecko — hit a floor price of 27.7 Ether (ETH), or $54,200, on July 3, a level not seen since September 2021.
The floor prices of other popular collections, including Mutant Ape Yacht Club (MAYC), Azuki, CryptoPunks and DeGods, also dropped in the week.
However, the last 24 hours have given NFT holders a bit of a breather, with bottom prices rebounding for most of the top collections. Azuki Elementals led the way with a nearly 32% increase in their floor price.
Credit Suisse makes a move on NFTs
Swiss bank Credit Suisse said on July 3 that it is teaming up with the Swiss Football Association to launch 756 Ethereum NFTs, with 100% of the proceeds going to support women’s football in the country.
This is the first time the bank has entered NFTs, which will be available through the bank’s CSX app, which adds new functionality for digital assets – no cryptocurrency or cryptocurrency wallet required.
Instead, Swiss francs will be used to purchase the NFT that will appear in the app. The bank said this “first step” was to be “simple and customer-friendly” so that a “broad customer base” could access digital assets.
As for the NFTs, they each feature a player from the Swiss women’s national team and have different levels of perks and benefits based on their rarity.
There are three levels of rarity, with the 690 least rare ones starting at around $170, while the 11 rarest are valued at over $11,000 (CHF 150 to CHF 10,000).
Melania Trump’s NFT low sales
Former US First Lady Melania Trump has seen sluggish sales for her all-American Solana NFT collection, which was released ahead of the nation’s Independence Day celebrations.
Of the 3,000 NFTs released on June 29th, only 586 sold, not counting an additional 500 that have not yet been disclosed and are not sold until July 4th.
Of those presented, the “1776 Collection” has six different designs emblazoned with patriotic symbols. Each design has 500 pieces and sells for $50 each.
“The 1776 Collection of artwork draws inspiration from several iconic landmarks of our Nation, which I had the privilege of visiting during the time I served as First Lady” #MelaniaTrump#The1776Collection exclusively at https://t.co/d2es7j6pwb#Foxnews: https://t.co/HSBeQj8QPc pic.twitter.com/Cu5ruzP4VH
— USAmemorabilia (@USAmemorabilia) June 29, 2023
A June 29 Fox News article reported that the collection was meant to celebrate “the foundations of American ideals,” according to Trump’s office.
Each NFT design has a separate audio track that plays patriotic melodies. One of them, depicting the Statue of Liberty, is from the Stars and Stripes Banner, the US national anthem.
It was reported that a portion of the proceeds from the collection would go to Trump’s non-profit Education for the Future initiative, which aims to provide computer science scholarships to children leaving foster families.
NFT Dior is silent about the “NFT” part
A new product from French luxury brand Dior will ship with NFT, but the brand appears to be shying away from the term “NFT” in its launch announcement.
On June 30, Dior announced a new line of shoes where one style offers a “digital twin”.
Dior describes the e-twin shoes as “a unique and secure digital creation on the Ethereum blockchain,” a play on words that seems to deliberately hide the fact that the “digital twin” is just an Ethereum-based NFT.
Introducing ‘B33’ sneakers by Kim Jones, from the #DiorMenFall 2023 collection. Each pair is equipped with an encrypted key granting access to a secure platform and exclusive services. Sign up to be the first to shop them online from July 6.
— Dior (@Dior) June 29, 2023
The shoe is called “B33 sneakers” and comes in seven different styles. Only the most expensive ones, priced at $2,150, come with an NFT twin.
Related: Yes, the Secret Service has a collection of NFTs, and no, it’s not for sale
Others, starting at a bargain price of $1,600, come with an NFC chip in the sole of the right shoe, granting access to a “platform” showing a “digital certificate of authenticity.” It is not clear if this certificate is also an NFT.
Other great news
NFT thieves often get rid of phishing tokens quickly, and blockchain security firm PeckShield found that half of stolen NFTs are sold within three hours on OpenSea and Blur.
Hermès, another French luxury brand, scored another victory in a copyright infringement case against NFT artist “MetaBirkin” Mason Rothschild when a US judge granted a permanent injunction against all NFT sales.
NFT Collector: Snoop’s NFT nostalgia, Goose attracts Generation Y to Sotheby’s