On March 14, 2022 I wrote about putting a 4k Bored Ape Yacht Club NFT up for sale (all proceeds to charity) on OpenSea to point out structural deficiencies in "NFTs 1.0" and concluded that it was "exhibit #1 that these 'digital art' NFTs represent a bubble about to burst." (Note: It didn't sell) https://crowdfundingecosystem.com/kb/article/psychedelic-safari-bored-ape-nft-for-sale-proceeds-to-charity 

On that day, the floor trading price of a BAYC NFT was $233,301. The bubble continued to inflate for another six weeks until April 30 when it reached $420,430. But as of this writing, August 30, it's down to $114,335 which is a 50.99% DROP from my March 14th posting and a 72.80% drop from the peak. 

Now for Exhibit B: NFT trading on OpenSea is crashing. See: "Trading volume on top NFT marketplace OpenSea down 99% since May" https://fortune.com/2022/08/29/nfts-opensea-crypto-winter-bubble-blockchain-web3

It appears all those OpenSea wash traders are spending the summer months w...more