Blue Chip NFT Prices Experience Fluctuations as Credit Suisse Ventures into Tokens
‘Blue Chip’ NFT Floor Prices Near Two-Year Lows
The largest nonfungible token (NFT) collections by market capitalization are experiencing drops in value as the cheapest NFTs in these collections reach near two-year lows. For instance, Yuga Labs’ Bored Ape Yacht Club (BAYC) collection, the second-largest by market cap, hit a floor price of 27.7 Ether (ETH) or $54,200 on July 3, the lowest level seen since September 2021.
Other popular collections such as Mutant Ape Yacht Club (MAYC), Azuki, CryptoPunks, and DeGods have also witnessed a decline in floor prices over the past week.
However, there has been a slight recovery in floor prices across most of the top collections in the last 24 hours. Azuki Elementals, in particular, experienced an impressive nearly 32% increase in floor price.
Credit Suisse Ventures into the World of NFTs
Swiss-based bank Credit Suisse announced its foray into the NFT space by partnering with the Swiss Football Association to launch 756 Ethereum NFTs. The bank will donate 100% of the proceeds to support women’s soccer in Switzerland.
This marks the first time Credit Suisse has engaged with NFTs. The tokens will be available through its CSX app, which has added new functionality for digital assets. Interestingly, no cryptocurrency or crypto wallet is required to participate, as the NFTs can be purchased using Swiss francs.
The NFTs depict players from the Swiss Women’s National Team and come with various perks and benefits based on their rarity. Prices range from approximately 150 Swiss francs ($170) for the least rare to over 10,000 Swiss francs ($11,000) for the most rare.
Slow Sales for Melania Trump’s NFTs
Former First Lady of the United States, Melania Trump, released an all-American Solana NFT collection ahead of the Independence Day celebrations. However, sales for the collection have been sluggish, with only 586 out of the 3,000 released NFTs sold as of now.
The collection, known as the “1776 Collection,” features six different designs inspired by iconic American landmarks. Each design has 500 pieces priced at $50 each. The NFTs also include audio tracks of patriotic tunes, such as The Star-Spangled Banner.
Part of the proceeds from the collection will go toward Trump’s “Fostering the Future” nonprofit initiative, which aims to provide computer science scholarships to children leaving foster care.
Dior Launches NFT-Infused Shoes
French luxury brand Dior has introduced a new line of shoes that come with an NFT component, although the brand appears to downplay the term “NFT” in its announcement. The shoes, named “B33 sneaker,” come in seven different styles, with the most expensive priced at $2,150, including the NFT twin.
The other styles, starting at $1,600, feature a near-field communication chip in the sole of the right shoe that grants access to a platform displaying the “Digital Certificate of Authenticity.” It is unclear if this certificate is also an NFT.
Other Nifty News
- NFT thieves are quick to sell phished tokens, with blockchain security firm PeckShield finding that half of all stolen NFTs are sold within three hours on platforms like OpenSea and Blur.
- Hermès, another luxury brand, achieved a victory in its infringement case against NFT artist Mason Rothschild, as a U.S. judge issued a permanent injunction on all sales of the MetaBirkin NFT collection.
- Snoop’s NFT nostalgia and The Goose’s appeal to Gen Y at Sotheby’s have also captured the attention of NFT collectors.
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