The Bored Ape Yacht Club’s $2.8 Million Sale Continues the Hype

A Bored Ape Yacht Club NFT sold for $2.8 million yesterday night, demonstrating the collection’s continued growth. A Bored Ape’s current floor price is 116.9 Ethereum.

The Bored Ape Yacht Club has announced the registration of another multimillion-dollar sale. Bored Ape #232 was sold for 1,080.69 Ethereum last night on the LooksRare marketplace. 1,080.69 Ethereum was valued little more than $2.8 million at the time of the sale. The high selling price is due to the token’s scarcity: Bored Ape #232 has golden fur, making it one of the collection’s rarest NFTs.

While Friday night’s transaction is the largest Bored Ape transfer to date in terms of Ethereum, it is not the highest dollar price paid for one of the NFTs. The Sandbox acquired Bored Ape #3749 in September for 740 Ethereum, which was worth $2.9 million at the time.

The trade occurs at a time when demand for Bored Ape Yacht Club NFTs is at an all-time high. The collection’s floor price reached 100 Ethereum over the weekend and has since trended up to 116.9 Ethereum, or around $295,000 at today’s pricing.

Justin Bieber, the Canadian music sensation, became the first celebrity to join the collection last Monday, dropping 500 Ethereum on his own ape. He joined the ranks of celebrities such as Steph Curry, Eminem, Paris Hilton, and Jimmy Fallon in “apeing into” the elite club as popular interest in NFT technology continues to grow. Last week, Hilton and Fallon displayed framed images of their Bored Ape NFTs on The Tonight Show, presumably contributing to the current price rise (the recent upward price movement also coincides with speculations that Bored Ape maker Yuga Labs is seeking $5 billion in funding).

Bored Ape Yacht Club debuted in April 2021 as a collection of 10,000 Ethereum-based animated ape NFTs. For 0.08 Ethereum, almost $200 at the time, anybody could manufacture an ape. Since then, Bored Ape Yacht Club has grown a flourishing collector community, secured huge collaborations with Universal and Adidas, and established itself as the most known brand in the NFT industry.

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