The auction of Yuga Labs 101 Bored Ape Yacht Club (BAYC) collection exceeded all expectations, with awinning bid of $ 24.39 million.
The sale is concluded on 10 September and was conducted by the prestigious auction house Sotheby’s, which had previously estimated that the collection would be sold for between 12 and 18 million dollars.
This NFT package is composed of 101 Bored Apes, as well as 6 Mutant Serum: 3 of type M1 and 3 M2. When a Bored Ape token is combined with a Serum M1 or M2, it allows for the minting of a new “Mutant Ape” NFT which retains the same traits as the original Bored Ape, but depicts as a mutant.
Excluding the Serums, as they are usually distributed via free airdrops, the Bored Apes in the collection were valued at a average price of about 69.4 Ether (ETH), or $ 235,000 at the time of writing.
The figure is well above the minimum price of Bored Ape NFTs on the secondary market: the data from OpenSea show a minimum price of 38.99 ETH, about $ 130,000.
“A historic moment for the Club: Sotheby’s auction for the 101 Bored Apes ended at over $ 24 million. Congratulations and THANKS to the whole community! I address the buyer, and I think I speak for everyone … WELCOME TO THE CLUB!”
What an historic moment for the club: the @Sothebys auction of 101 Bored Apes has closed at over $24m. Congratulations and THANK YOU to the whole ape community. To the buyer, I think we speak for everybody 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 of its side project, Bored Ape Kennel Club, which ended the same day with a winning bid of $ 1.83 million, at an average price of $ 18,150 per token. The figure was within Sotheby’s estimates, which is a price between 1.5 and 2 million dollars, and exceeded the minimum price on OpenSea of 3.09 ETH (10,400 $).
Delaware-based Yuga Labs launched the Bored Ape Yacht Club on April 30th and has quickly become a very popular and sought-after project. Last month Steph Curry, a well-known NBA player, paid 55 ETH to get one of these NFTs. On September 6, the company The Sandbox bought a Bored Ape at the record price of 740 ETH ($ 2.5 million).
The NFT purchased from The Sandbox depicts a laser-eyed golden monkey wearing a Navy captain’s hat. This week, the company unveiled its intention to make the Bored Apes playable avatars within your own metaverse:
“The avatar collections find further utility within our virtual world. NFT holders will be able to transform these assets, simple 2D collectible images, into three-dimensional and animated playable avatars: they will be able to run, jump, socialize, play and interact with the avatars of other users in The Sandbox. “
According to data from OpenSea, NFT sales volumes on the secondary market have significantly decreased this month: major projects, such as CryptoPunks, Art Blocks and BAYC, have experienced a volume decline of 85%, 82% and 69% compared to a week ago.
Only one Top 20 NFT project has seen an increase in volumes in the past seven days: Loot (for Adventures) by Dom Hofmann, co-founder of Vine, which recorded an increase of 8.42%.
I Dune Analytics data show that recently NFT base prices are also down: from 1.02 ETH on August 30 to around 0.50 ETH on September 10. However, this isn’t necessarily a bearish trend for the NFT sector, as the average price can simply be influenced by new cheaper projects launched on the market.
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