Ukraine’s crypto crowdfunding push began on February 26, 2022 after the government’s official Twitter account announced crypto donations. Since then, it has received more than $88 million in donations alone.
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Web3 communities – from DAOs to memecoin holders to NFT collections – have announced projects and initiatives aimed at contributing to the relief effort in Ukraine. Now inspired by the contributions of the community members, the Bored Ape Yacht Club (BAYC) NFT collection is the latest to lend a helping hand to the war-torn country.
On March 9, it donated $1 million to Ukraine’s official Ethereum wallet address† According to the Etherscan transaction link, it sent 388,999 ETH (just over $1 million) for this.
It was inspiring to see our community come together in support of Ukraine – nearly $1 million worth of ETH has been donated to @Ukraine by wallets containing a BAYC ecosystem NFT. Today we match that with our own $1 million ETH donation.
— Bored Ape Yacht Club (@BoredApeYC) March 8, 2022
The BAYC was one of the first NFT collections to hit a rock bottom – or minimum “buy now” price per NFT – of over 50 ETH. It is the second largest NFT collection of all time, based on OpenSea’s rankings in the market.
Source: OpenSea
Given his dominance, celebrities like Eminem, Steph Curry, Jimmy Fallon, etc. have been “given” in the collection lately. In fact, it recorded over 417,000 ETH ($1 billion) in secondary sales. The OurNetwork newsletter also revealed some formidable insights into the Bored Ape NFTs, with total trading volume exceeding $1.3 billion.
All good and not bad?
Lately, the Bored Ape Yacht Club has been trending in the news for reasons other than its numbers. Recent investigations had raised some serious questions about the anonymity of the founders, with some deem it’s confusing”.
Will this loss of anonymity affect Bored Apes ROI in March 2022? Well, it clearly did.
According to Defi Llama, the daily volume of the Bored Ape Yacht Club has been declining since January 30. At the time of writing, BAYC’s daily volume was 279.4 ETH. This was a decrease of ~65%. Sales figures also saw a steady decline over a 30-day period.
Source: OpenSea
In fact, even the 90-day period saw a similar downward trend.
Needless to say, it wasn’t a great time for BAYC. Still, many in the community are hoping that the projects’ latest donations could be the catalyst for better investor sentiment across the board.
This post Can BAYC’s Latest Efforts Help Save Daily Volume and Sales Stats?
was published first on https://ambcrypto.com/can-baycs-latest-efforts-help-rescue-its-in-trouble-daily-volume-sales-stats/
