The NFT market continues to rage, and it shows no signs of slowing down. At the time of this writing, Sotheby’s is hosting a dedicated online sale of NFTs of Bored Ape Yacht Club (BAYC,) and the current bid is just short of $20 million.
$19 Million for NFT Apes
It goes without saying that non-fungible tokens are where all the rage is within the past couple of months, with multiple collections selling for astronomic figures across a variety of blockchains such as Ethereum, Solana, and Binance Smart Chain (BSC).
We saw some tremendous valuations, but the train doesn’t seem to slow down. At the time of this writing, Sotheby’s is hosting a collection of 107 NFTs from the Bored Ape Yach Club series. Each one of them was minted in 2021 and represents an ERC721 token. During the initial drop, users could purchase the apes for as low as 0.08 ETH.
In terms of specs, each bored ape represents a unique and programmatically generated token from over 170 possible traits. These include expression, headwear, clothing, and so forth. The collection in question also includes 3 M1 and 3 M2 Mutant serums.
Below is a picture of just one of the apes included in the collection:
The Hype Reaches The Stars
While it’s clear that in terms of pricing, the BAYC NFTs have gone to the moon and back, the hype also reached the stars… literally.
Stephen Curry – a legendary basketball player, is pretty open about his fondness for the project. He has purchased an ape himself and even uses it as a profile picture on Twitter. The player has also put the project in his Twitter bio.
In any case, the Sotheby’s collection, with its current bid, puts the price for each individual NFT at around $177,570. Given the initial purchase price of 0.08 ETH, this puts the seller at a tremendous profit.
The auction still has 3 more days to go, and the collection’s valuation might even go higher.