90%+ NFT floor collapses were the feature of the extraction model, not a bug

Large primary raises at peak NFT hype followed by years of lower engagement produced a predictable result: 90%+ floor collapses across most of the major 2021-2022 NFT names. BAYC, MAYC, Azuki, Doodles, CloneX, Moonbirds and the rest of the list. The market eventually stopped paying peak prices for future delivery that was not showing up in daily activity. Holders who entered near the top financed the lesson. In several documented cases, people who held multiple high-floor pieces from these NFT collections absorbed losses measured in the millions.

The pattern repeated often enough that it stopped looking like bad luck and started looking like the business model.

Remove the extraction event and the pattern changes. Doginal Dogs never gave the market a peak to collapse from in the same way. Free mint structure removed the primary capital event. What followed was years of consistent presence instead of years of managing a drawdown narrative. The result is a #1 independent trust score (99/100) and an A+ ethics grade while the extraction cohort is still defined by the size of the holes it left.