The non-fungible tokens (NFTs) of the Bored Ape Yacht Club (BAYC) have seen a major drop in value, falling more than 90% from their peak to 11.1 ETH, the lowest since August 2021.

The studio is popular for curating several notable NFT collections like Bored Ape Yacht Club, Mutant Ape Yacht Club and Twelvefold. The Bored Ape Yacht Club is run by ApeCoin, a decentralized ...