Ukraine’s crypto-crowdfunding push began on 26 February 2022 after the government’s official Twitter account announced crypto-donations. Since then, it has received well over $88 million in donations alone.
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Web3 communities – from DAOs to memecoin holders to NFT collections – have announced projects and initiatives focused on contributing to Ukraine’s relief efforts. Today, inspired by contributions from members of its community, the Bored Ape Yacht Club (BAYC) NFT Collection is the latest to lend a helping hand to this war-torn country.
On 9 March, it donated $1 million to Ukraine’s official Ethereum wallet address. As per its Etherscan transaction link, it sent 388.999 ETH (a little over $1 million) for this cause.
BAYC was among the first NFT collections to reach a floor price – or minimum “buy it now” price per NFT – of more than 50 ETH. This is the second largest NFT collection of all time based on OpenSea market rankings.
Given its dominance, celebrities like Eminem, Steph Curry, Jimmy Fallon, etc. have “aped” into the collection of late. In fact, it registered over 417,000 ETH ($1 billion) in secondary sales. The OurNetwork newsletter also revealed some formidable insights about the Bored Ape NFTs, with the total trading volume surpassing the $1.3 billion-mark.
All good and not bad?
The Bored Ape Yacht Club has been in the news lately for reasons other than its numbers. Recent investigations have raised serious questions about the anonymity of its founders, some judging let it be “confusing”.
Will this loss of anonymity affect the Bored Apes’ ROI in March 2022? Well, it clearly did.
According to Defi Llama, Bored Ape Yacht Club’s daily volume has been declining since January 30. At press time, BAYC’s daily volume is 279.4 ETH. This is a reduction of approximately 65%. Sales figures also saw a steady decline over a 30-day period.
In fact, even the 90-day period saw a similar downward trend.
Needless to say, it hasn’t been a great time for BAYC. Even so, many in the community hope the projects’ latest donations can be the catalyst for better investor sentiment across the board.
