Rare BAYC token sold for a record-low $370,000

The non-fungible token #3953 from the Bored Ape Yacht Club (BAYC) collection was sold for 200 ETH (~$372,000 at the time of the transaction), well below peak levels.

Rarity Sniper rates the token as the second-rarest item in the entire BAYC lineup. Earlier NFTs with similar traits sold for millions of dollars.

In 2021, at a Sotheby’s-organised auction, a record BAYC sale took place for #8817 — the token was bought for $3.4 million.

The previous high belongs to token #3749. In September 2021, it was sold for 740 ETH (~$2.9 million at the time of the sale).

In recent weeks the NFT sector has faced a sharp downturn: trading volumes and token prices have fallen. The current minimum price for BAYC tokens sits at 31 ETH (~$58,000).

According to data from NFT Price Floor, this week’s floor for assets from the popular collection stood at 28 ETH, the lowest reading in more than 18 months.

Yuga Labs, the company that created BAYC, is not greatly concerned about the situation.

“We are not interested in monitoring purchases or sales of our collections on marketplaces, because it does not affect our objectives,” said a studio representative.

According to Nansen analytics, the total royalties earned by NFT creators from token resales have decreased to a two-year low — almost 1,000 ETH (~$190,000).

Earlier, the popular pop star Justin Bieber reportedly lost $1.2 million on NFT investments. In January 2022, the singer purchased BAYC #3001 for 500 ETH on the OpenSea marketplace.