On the NFT rankings chart, the Bored Ape Yacht Club [BAYC] collection has mostly maintained the numero uno position. However, another collection called the Bored Ape Kennel Club [BAKC] outperformed its predecessors now.
As depicted below, the BAKC collection’s sales have risen by more than 1919% just over the past day. The number of transactions and buyers have also noted substantial upticks of 1881% and 712% respectively.
On its part, BAYC sales dropped by 71% over the last 24 hours. Parallelly, the number of transactions and buyers also slashed by more than half.
In fact, other top collections like Otherdeed, CryptoPunks, Mutant Ape Yacht Club, and Azuki registered red sale numbers [down by 28%, 13%, 31%, and 4% respectively] in the same one-day period.
Bored Ape Kennel Club, as such, is a collection of 9,602 cartoon dog NFTs. Each one is a part of Yuga Labs’ broader Bored Ape Yacht Club universe. It is more like a companion series to the original BAYC NFT collection by Yuga Labs. However, BAKC NFTs trade independently of BAYC NFTs on the secondary market.
Initially, BAKC NFTs were originally offered for free to all owners of the BAYC collection as a membership perk for supporting the ecosystem. They only had to bear the cost of gas. Alongside, the BAKC collection also served as a charity fundraiser. A 2.5% fee collected from all BAKC trades in the first six weeks of their secondary sales helped support causes aligned with the theme of the project.
Have collectors started abandoning BAYC?
Despite the recent drop in sales registered, people from the space continue to collect NFTs from the OG collection. A day and thirteen hours back, an NFT from Bored Ape Yacht Club collection sold for 800 Ethereum [approximately $950,000 at the time of sale on November 23]. Notably, the said NFT [number 232] was sold to pseudonymous collector “Keungz” who already possesses multiple Yuga Labs NFTs per the OpenSea profile.
Alongside, another sale took place a day back where a BAYC NFT [number 1268] was sold for 780 ETH [roughly $940,000 at the time of sale].