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HomeNFTEx Chelsea defender backed Ape Kids Football Club NFT drops more than...

Ex Chelsea defender backed Ape Kids Football Club NFT drops more than 92% amid ongoing market crisis

The current bear market in cryptocurrencies is still continuing and already affecting numerous NFTs. The Ape Kids Football Club NFT collection was one of the affected NFT collections, with a decline of more than 92 percent as of June 30.

On February 4, 2022, John Terry, a former English Premier League (EPL) defender for Chelsea, unveiled the Ape Kids Football Club NFT at OpenSea. Its lowest price was 0.23 ETH at the time.
The average price of Ape Kids Club NFTs increased to 0.2608 ETH on February 20. Since then, lower prices for Ape Kids Club NFTs have dropped by more than 92 percent; at the time of publication, they fluctuated by about 0.019 ETH.
Industry experts believe that the latest market collapse, which caused various crypto values to drop by more than 60%, may have been partially caused by the recent Ape Kids Club NFT’s subpar performance. Ethereum was trading at $2,300 earlier in February, compared to $900 today.
Meanwhile, despite the market crash, some investors are still buying a dip in OpenSea, which has some unusual features that sell at 0.04 ETH on June 29. The Ape Kids Club NFT collection has a minimum price of 0.065 ETH from the time of writing. 
Ape Kids Football Club NFTs have a finite supply of 6,626 NFTs, notwithstanding the lack of knowledge regarding their usefulness. AKFC NFT holders will be able to participate in the much awaited AKFC World Cup, according to NFT marketplace OpenSea.
Unfortunately, no one, not even John Terry, a former captain of the England team and Chelsea, predicted that the crypto and NFT markets would crash in the middle of 2022.
John Terry intended to use his Ape Kids Club NFTs to raise money for himself while also using them for philanthropic endeavours and interactive blockchain education. The Elina Svitolina Foundation and the Ape Kids Club said they were collaborating closely at the time to support young athletes. The football star will also get more active in sports-related charities and organisations for young people in the UK.

Read more: Binance all set to introduce first round of the Age of Gangs NFTs on its marketplace

Kunal Krishan
Kunal Krishan
Kunal is an investment space writer who firmly believes investment is something which should not be a choice but a part of everyone's life.
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