NFT 101 Bored Apes auction at Sotheby’s closes at over $ 24 million

Yuga Labs’ 101 Bored Ape Yacht Club (BAYC) collection auction exceeded expectations with a winning bid of $ 24.39 million.

The auction ended on September 10 and was hosted by prestigious auction house Sotheby’s which previously estimated the collection to fetch between $ 12 million and $ 18 million.

The non-fungible package consists of 101 annoyed monkeys and three NFT M1 and three M2 “Mutant Serum”. When a Bored Ape token is combined with an M1 or M2 serum, it allows its holder to create a new Mutant Ape NFT that retains the same characteristics as the original Bored Ape but portrayed in a mutant format.

Taking NFT sera out of the equation as they’re usually dumped free to holders, every bored monkey in the collection was valued at an average price of around $ 241,000 or 69.4 Ether (ETH) at the time of publication.

The figure is well above the floor price for NFT Bored Ape in the secondary market, with data from OpenSea showing a minimum price of 38.99 ETH, worth around $ 135,000.

What a historic moment for the club: the @Sothebys 101 Bored Apes’ auction closed at over $ 24 million. Congratulations and THANKS to the whole monkey community. To the buyer, I think we speak for everyone when we say WELCOME TO THE CLUB. ☠️⛵️ pic.twitter.com/NKxHekC0ny

– Bored Ape Yacht Club (@BoredApeYC) September 9, 2021

Yuga Labs also auctioned off a 101 NFT collection from its side project Bored Ape Kennel Club which closed the same day with a winning bid of $ 1.83 million, priced at $ 18,150 per NFT. The figure is within Sotheby’s estimate of $ 1.5 to $ 2 million, and exceeds the floor price on OpenSea of ​​3.09 ETH or $ 10,700.

Delaware-based Yuga Labs launched BAYC on April 30, and it has since become a very popular and sought-after project. Figures such as NBA star Steph Curry aped by paying 55 ETH ($ 191,000) for a Bored Ape NFT at the end of last month. Gaming company Metaverse The Sandbox also bought a Bored Ape for a record price of 740 ETH ($ 2.57 million) on September 6.

Sandbox’s NFT features a golden monkey with laser eyes wearing a ship captain’s hat. In a September 8 blog post, the company revealed its intention to wear the NFT BAYCs in its metaverse as playable avatars.

“The Avatar collections find additional utility for their NFT holders in our virtual game world. Through the interoperability of NFTs, they will be able to transform 2D collection NFT images into playable 3D avatars that are animated, can run, jump, socialize, play games and interact with their other peer avatars in The Sandbox, ”the blog read. .

Related: OpenSea bug appears to have destroyed nearly $ 100,000 in NFT

According to data from OpenSea, NFT’s aftermarket sales volume cooled in September, with major projects such as CryptoPunks, Art Blocks and BAYC all seeing seven-day volume drops of 85%, 82 % and 69% respectively.

Only one of the top 20 NFT projects saw an increase in volume over seven days, with Vine co-founder Dom Hofmann’s Loot (for Adventures) NFTs registering an 8.42% increase.

Data from Dune Analytics also shows that NFT bottom prices are on a downtrend lately, dropping from 1.02 ETH on August 30 to around 0.40 ETH on September 9. However, this does not necessarily indicate a downtrend for the NFT Sector, as the price may be impacted by new projects emerging in the market that sell for lower prices.