Sunday, December 4, 2022

BAYC NFT Sells Gold Fur Ape for Almost $1 Million in Spite of Crypto Winter By DailyCoin

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© Reuters. BAYC NFT Sells Gold Fur Ape for Almost $1 Million in Spite of Crypto Winter

The most successful NFT collection in the history of crypto, Bored Apes Yacht Club (BAYC), made waves on Thursday morning once again. This time, the Gold Fur Bored Ape #232 was sold for an elephantine amount of 800 (ETH).

At press time, this equals $959,760, which is the most expensive acquisition of a Bored Ape NFT in quite some time. It even topped the Brotherly Gold Fur Ape #5853 that was sold for 777 Ethereum (ETH) a few months ago.

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This consequently gave a second wind to the Bored Apes. The average sales of BAYC shot up by 29% in the last seven days, according to NFT Price Floor. On top of that, the lowest sale jumped by 34,000% as the basic traits Bored Ape was sold for 35 Ethereum (ETH), which is significantly more than the discounted Bored Apes NFT that was sold off in secondary markets for 1-2 Ethereum (ETH) right after FTX crashed.

Bored Apes Among the Hardest Hit by the FTX Fiasco

The crypto winter surely took its toll on the Bored Apes, to say the least. Yuga Labs, the company that created the digital primate NFT collection, is facing trouble with the SEC over unregistered offerings. On top of that, the Anonymous Hacker Group allegedly isn’t happy with Bored Apes’ moral conduct and has sent out a grim warning message to them.

However, the Bored Apes have a lot going on for them, as the first-ever metaverse band compiled from Bored Ape NFT avatars is set to drop their first album.

The Bored Apes band, KINGSHIP, is the latest entry into the music industry by BAYC. Previously, proud Bored Ape NFT owners Snoop Dogg and Eminem dropped a BAYC themed video. In addition, Snoop is planning to open a Bored Ape-themed sweet shop in Los Angeles, California.

Ultimately, Bored Apes NFT is seeing more mainstream recognition than ever, even amidst extreme crypto market conditions. The community behind the digital primates seems to be strong, while NFT enthusiasts took the opportunity to join the BAYC for a fraction of the price.

Finally, with rapidly growing adoption in the physical world, it’s no surprise that Bored Ape #4081 is going to be featured at the Art Basel International Art Fair.

On the Flipside

  • The current floor price for BAYC NFT is 60, which is still below the levels seen in October and earlier this year.

Why You Should Care

Yuga Labs is a heavyweight Web3 company that’s valued at $4 billion. The rapid adoption of Bored Apes NFT in the entertainment industry has heavily contributed to the rise of the crypto industry in 2021.

Find the latest NFT-related stories:

Binance Launches Football Fever NFT On The Eve Of FIFA World Cup 2022

Adidas (OTC:) Kicks Off Its First Digital Wearables Collection

See original on DailyCoin





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