Bored Ape NFT sells for $926,288 In ETH Despite the Bear Market

Bored Ape NFT sells for $926,288 In ETH Despite the Bear Market

On the secondary market, Bored Ape Yacht Club NFT #232 sold this morning for 800 ETH, or around $927,000, despite the overall sour market conditions. 

Keung, a well-known collector, bought the tokenized profile photo (PFP) that was sold by Deepak Thapliydal, CEO of Web3 cloud software firm Chain. 

Many Bored Ape non-fungible tokens (NFTs) have had significant price declines in recent months, including one Justin Bieber bought earlier this year for $1.3 million in ETH that is now only worth about $69,000. 

However, according to statistics from Rarity Tools, this gold-furred ape, which is rated 324th out of 10,000 NFTs, is one of the rarest avatars. Few apes—less than 5%—have golden fur.

Shalom Mackenzie, the largest shareholder of DraftKings, who bought CryptoPunk #7523 for $11.8 million in June 2021, was overtaken by Deepak Thapliyal, who just acquired CryptoPunk #5822 for 8,000 ETH ($23.7M). Thapliyal bought the NFT straight from Larva Labs’ online platform on February 2022

People who own the mutant and ape-themed NFT collections on the Ethereum blockchain called Bored Ape NFT can join the Bored Ape Yacht Club (BAYC), an elite group. There will never be more than 10,000 pieces of the Bored Apes’ generative art which makes it extremely rare in the NFT community.

For NFT collectors, Bored Apes is the ultimate collection of NFTs. In 2021, the NFT collection has reached its peak thanks to an ever-growing number of high-profile celebrities who have used apes as their Twitter profile images. Rare blockchain-based avatars are all the rage for people wishing to flex online with the recent increase in popularity around the Metaverse/NFT.

The Bored Ape Yacht Club membership involves more than simply online flexing. The Bored Apes’ founders, Yuga Labs, frequently host exclusive events with free private performances by club members like Lil Baby. Jimmy Kimmel, Stephen Curry, Dez Bryant, Post Malone, and other well-known stars are also members of the club.

The Mutant Apes NFT collection, which was also produced by Yuga Labs, grants access to the elusive club. There are 20,000 Mutant Apes in total, and traditionally, their prices are lower than those of Bored Apes.

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