Yuga Labs, the parent company of Bored Ape Yacht Club (BAYC), has announced the return of ApeFest 2023 in Hong Kong from November 3 to November 5. The event aims to reignite enthusiasm and reinforce BAYC's position as a symbol of social and cultural identity in the NFT world. ApeFest will be a multi-faceted convention experience, moving away from its previous association with NFT.NYC and exploring new locations and cultural integrations. Admission remains free for BAYC and Mutant Ape Yacht Club (MAYC) holders, but attendees must present a valid ticket via the tokenproof app and a refundable deposit system has been implemented.

Bored Ape Yacht Club will launch IP (intellectual property) tool Made by Apes later this month in partnership with SaaSy Labs. Greg Solano, co-founder of Yuga Labs, said that although people in the club have been building with their IP, there is no easy on-chain method to verify these items, and there is no official directory to verify that boring apes and mutant apes are being produced. everything of. SaaSy Labs unleashes the potential of smart contracts through blockchain-based legal agreement solutions, facilitating the signing, management and downstream financial mechanisms of legal agreements. The cooperation use cases listed on its official website include automated licensing agreements on the chain, on-chain Automate licensing agreements, showcase intellectual property, and more.

According to data from Cryptoslam.io on July 8, 2023, NFT sales saw a 23.39% drop compared to the previous week, with Ethereum-based NFTs accounting for $130.77 million of the total sales.

Blur, a new NFT marketplace that surpassed OpenSea in trading volume, has been blamed by some investors and influencers for the falling prices of NFTs, including Bored Ape Yacht Club. Critics claim that Blur's incentivized trading model has encouraged traders to treat NFTs like fungible tokens, resulting in a surge in trading volume that some have called "wash trading."

Investors of the Bored Ape Yacht Club NFT collection are facing a significant drop in floor prices, resulting in substantial losses for individual apes and related assets. Justin Bieber's Ape, which was once valued at $1.3 million, now has a highest bid of just over $58,000, a 95% decline. This decline is consistent with the overall NFT market, which is currently at its lowest point in two years.

July 5 (Cointime) - The floor price of the Bored Ape Yacht Club NFT collection has dropped below 30 ETH, reaching its lowest point since October 2021. This represents a significant decrease from the historic high of 153.7 ETH in April 2022, marking a 90% decline.

July 4 (Cointime) - Justin Bieber's investment in a Bored Ape Yacht Club (BAYC) NFT has reportedly lost around $1.2 million, depreciating by more than 95%. While many celebrities have embraced NFTs as a new avenue to engage with their fanbase and monetize their brand, the market is notoriously volatile and unpredictable. However, some stars have made lucrative deals selling NFTs for exorbitant prices, making it a game of high risk and potentially high reward. Despite the substantial loss, Bieber's diversified income across music, merchandise, endorsements, and NFTs is likely to cushion the blow of the NFT's depreciation.

July 4 (Cointime) - The NFT market has experienced a decline in interest, particularly affecting Yuga Labs' Bored Ape Yacht Club (BAYC) and Mutant Ape Yacht Club (MAYC). The introduction of Bitcoin Ordinals led to a rally in the NFT market, but interest has since declined.

July 4 (Cointime) - Despite the recovery of crypto markets, nonfungible tokens (NFTs) have not seen the same level of rebound. The Bored Ape Yacht Club collection, one of the industry's largest, has experienced a 90% drop from its all-time high. The floor prices for Ape-themed NFTs have also fallen by 23% over the past week, with the collection's floor price now at its lowest in over a year.

July 4 (Cointime) - The NFT market has seen a recent drop in prices, causing worry among investors and enthusiasts. Despite not being in a new cycle, several notable NFTs have experienced significant price decreases in the past few days.