In a sign that yet another cryptocurrency bubble has burst, bored ape NFTs have been seen in a gas station discount rack for a meagre $1. It’s a far cry from the astronomical prices for which these digital artworks were once sold, often for millions of dollars.
“It’s really sad to see,” said one onlooker, who was snapping a selfie with the discounted apes. “Just a few months ago these things were selling for crazy prices and everyone was buying them. Now they’re nothing more than a cheap novelty item you can buy at your local gas station.“
The once-hot NFT market is now in the midst of rapid deflation. Many crypto investors have been left holding onto worthless assets, and the market has lost billions in value.
The Bored Ape NFTs, which featured various animals in various poses, were among the first to be affected by the NFT bubble’s deflation. Many of the apes were sold for hundreds of thousands of dollars, but now they are available for a mere $1.
The NFT market may have cooled off, but that doesn’t mean the bored apes have lost all their value. “It’s still fun to have a piece of the NFT market,” said the same onlooker, who was now carrying a bag of apes. “It’s a reminder that this bubble may have burst, but it won’t be the last.“
The NFT market may have taken a hit, but it’s likely to come back stronger than ever. For now, though, the bored apes will have to wait in the discount rack of a gas station until the market recovers.
