Several NFT collections created by industry giant Yuga Labs have sunk to all-time low ETH valuations—at the same time that other NFT projects, including those acquired by the company, have grown in value on the wings of booming crypto prices.
Mutant Ape Yacht Club (MAYC), for example, a collection released by Yuga in August 2021, has fallen to an all-time-low floor price of 2.4 ETH, according to CoinGecko—meaning the cheapest NFT in the 20,000-piece PFP collection can be acquired for that price. It cost 3 ETH to mint a Mutant Ape when the collection first debuted.
Similarly, Otherdeed NFTs—deeds for virtual land in Yuga’s ape-themed metaverse game, Otherside—have steadily fallen in ETH price over the last year, reaching their all-time low floor price last week: 0.21 ETH. The collection has since recovered marginally to 0.23 ETH.
While the price of ETH has more than doubled in value in the last year, that remarkable gain…
