This Week in Alternative Investments - July 7th, 2023
The floor price for the NFT collection Bored Ape Yacht Club hit a two-year low
Bite sized market updates
The floor price for the NFT collection Bored Ape Yacht Club hit a two-year low. After reaching a high of $429,000 in April 2022, the floor price fell to around $52,000.
Global venture funding fell almost 50% year-over-year in Q2. The $65 billion figure also represented a 18% decline from Q1, despite some major AI deals.
Blackstone announced a $3.1 billion real estate sale. As redemption requests for its BREIT increase, the fund may be looking to liquidate additional assets.
Over 1,500 Disneyland collectibles are up for auction this month. The collection includes costumes, posters and ride vehicles.
With over $1.1B in capital raised and 1,100+ portfolio companies, Alumni Ventures is the most active venture capital fund in the U.S. (Pitchbook, 2022)
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The floor price of Bored Apes has fallen almost 88% from its peak. The prominent NFT collection had reached a floor price (the lowest price for any NFT in the collection) of $429,000 in April 2022 - this week it fell to $52,000, the lowest it’s been in nearly two years. In the past three months, the floor price has halved and it sits at around $58,000 as of this writing. Nearly every prominent NFT collection has seen prices crater in the past month, even as crypto prices have risen.
Global venture funding fell to $65 billion in Q2, down from $127 billion in 2022. This according to a report from Crunchbase, which also reported a 37% decline in deal count year-over-year. Late-stage funding fell to its lowest level since 2018 while early-stage and seed funding have also seen large declines. AI companies have made up nearly 20% of all total funding so far this year, which has masked how far other sectors have fallen.
Investment giant Blackstone sold $3.1 billion of industrial real estate from its BREIT. The sale to Prologis, Inc. includes 70 assets that comprise 14 million square feet, and shows that industrial real estate is still in demand, compared to other commercial real estate sectors. Blackstone has seen increased redemption requests this year from its investors, which may be the reason behind this sale, and rumored other liquidations.
A Dumbo ride vehicle from Disneyland is expected to sell for six figures. It will be up for auction this month as part of a collection of over 1,500 items from Disneyland, alongside other ride vehicles, costumes, posters and various items. Other prominent items include three paintings from the “Haunted Mansion” ride that could also reach $100,000 each.