Sotheby’s auction of 101 Bored Apes NFT closes at $24M

Yuga Labs sold collections of Bored Ape Yacht Club (Bored Ape Kennel Club NFT) that generated $24 million, $1.83 million, respectively.
Yuga Labs’ 101 Bored Ape Yacht Club collection (BAYC), has exceeded all expectations, with a winning bid totaling $24.39 million. The auction ended on Sept. 10, and was hosted by Sotheby’s, a prestigious auction house. It contained 101 Bored Apes as well as three M1 and three “Mutant serum” NFTs. Combining a Bored Ape token with an M1 orM2 serum will allow the holder of the token to create a new Mutant Ape NFT. This allows the holder to keep the same traits as the original Bored Ape, but shows it in a mutant form. Each Bored Ape was valued at approximately $241,000, or 69.4 Ether (ETH), at the time of publication. This figure is well above the floor price for Bored Ape NFTs on secondary market. OpenSea data shows a minimum price at 38.99 ETH. That’s approximately $135,000. What a historic moment for the club! The @Sothebys auction for 101 Bored Apes closed at $24m. We wish to congratulate and thank everyone in the ape community. I believe we are all saying, “WELCOME TO THE CLUB” to the buyer. pic.twitter.com/NKxHekC0ny– Bored Ape Yacht Club (@BoredApeYC) September 9, 2021

Yuga Labs also sold a 101 NFT collection from its side project Bored Ape Kennel Club. The auction closed the same day with a winning bid at $1.83million and a price of $18,150 for each NFT. The figure was within Sotheby’s estimate range of $1.5 million to 2 million and beat the OpenSea floor price of 3.09ETH or $10.700. The BAYC was launched by Yuga Labs, a Delaware-based company. It has become a highly sought-after and popular project. Steph Curry, a NBA star, paid 55 ETH ($191,000), for a Bored Ape NFT last month. The Sandbox, a Metaverse gaming company, also bought a Bored Ape NFT for a record 740ETH ($2.57M) on Sept. 6. Sandbox’s NFT depicts an NFT of a golden ape wearing a sea captain’s cape and laser eyes. The firm announced plans to make BAYC NFTs available as avatars in a blog post on Sept. 8. “The Avatar collections provide additional utility to their NFT holders in our gaming virtual world. The blog post stated that NFTs can be interoperable and allow them to transform 2D image NFTs into 3D avatars that can run, jump, socialize, play video games, and interact with other peers in The Sandbox. Bored Ape NFT3749 Avatar: Source: The Sandbox. Related: OpenSea bug appears have caused nearly $100K in NFTs to be destroyed. According to OpenSea data, NFT sales volume on secondary market decreased in September. Top projects like CryptoPunks and Art Blocks all saw a decline in seven-day volumes. Vine cofounder Dom Hofmann’s Loot(for Adventures) NFTs saw an 8.42% increase. NFT floor prices: OpenSeaData by Dune Analytics also shows a downward trend in NFT sales volume. Prices dropped from 1.02 Ethereum on Aug. 30, to 0.40 Ethereum on Sept. 9. This does not necessarily mean that the NFT sector is in a bearish trend. New projects selling at lower prices can impact the price.

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