A set of 107 non-fungible tokens (NFTs) from Bored Ape Yacht Club by Yuga Labs went under the hammer at Sotheby’s for $24.4 million. The final price far exceeded the top estimate of $18 million.
#AuctionUpdate 101 Bored Ape Yacht Club NFTs just sold for $24.4 million and 101 Bored Ape Kennel Club NFTs achieved $1.8 million in our Ape in! auction — the most significant #BAYC sale to date. Congrats to all the apes out there 🐵🐶 pic.twitter.com/e7UghlgtKy
— Sotheby’s (@Sothebys) September 9, 2021
Trading began on September 2. The 107-ape set was valued at $12–18 million. However, within four days bids moved beyond the range, and the final price exceeded it by almost a third. The set included ‘mutation serums’ that allow the owner to mint a new token featuring a mutated monkey image for free.
What a stunning mutant ape with M1/M2 serum
Thanks @BoredApeYC #BAYC #MAYC#ApeFollowApe #ApeTogetherStrong pic.twitter.com/bsdcj1ung2— Xining BAYC#7658 (@Xiningcrypto) September 1, 2021
The 101-token set from another Yuga Labs collection, Bored Ape Kennel Club, sold for $1.8 million. It was initially valued at a range of $1.5 million to $2 million.
The Bored Ape Yacht Club collection ranks third by monthly trading volume on the NFT marketplace OpenSea, with 71,153 ETH (~$250.6 million at the time of writing). In first place is CryptoPunks (174,376 ETH), second is Art Blocks Curated (121,897 ETH).
Against the backdrop of a crypto market correction, NFT sales also declined. According to DappRadar, in the last seven days the number of transactions on OpenSea fell by 32%, and trading volume nearly halved.
Earlier in June, Sotheby’s sold the ‘COVID’ NFT from the CryptoPunks collection for 4520 ETH ($11.8 million at the time of the deal).
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