The 101 Bored Ape NFTs Go for a Record $24.4 Million at Sotheby’s

Bhushan Akolkar
September 10, 2021
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Third Bored Ape hack since April

On Thursday, September 9, the 101 non-fungible tokens (NFTs) from the Bored Ape Yacht Club were sold for a record bid of $24.4 million at British auction house Sotheby’s.

Bored Ape creators Yuga Labs kickstarted the auction last week on September 2. The auction quickly gathered steam as the bid valued surged to $19 million earlier this week on September 6.

Just like CryptoPunks, the Bored Ape Yacht Club is a collection of 10,000 unique computer-generated cartoon apes. However, Sotheby’s had auctioned 101 Bored Ape NFTs from the Yacht Club. Additionally, the auction house also conducted a sale of 101 Bored Ape Kennel Club NFTs for 1.8 million. Thus, the bundle of Bored Ape NFTs went for a total of 26.6 million in the sale.

The Bored Ape Kennel Club NFTs also included a set of dogs, marketed as pets for the apes. The buyers of the Bored Ape NFTs also get the intellectual property rights for the images.

Major Trading Volumes on OpenSea

The Bored Ape NFTs are among the top three NFT projects on Etheruem-based NFT marketplace OpenSea. After Loot and CryptoPunks, these NFT drive the third-highest trading volumes on the platform.

Since their release in April 2021, the Apes have exploded in popularity. Last week, Bored Ape #3749, with sailor’s cap, gold fur, and laser-beaming eyes sold for a record of $2.6 million. Michael Bouhanna, the contemporary art specialist at Sotheby’s, said that there’s a growing number of traditional art buyers interested in NFTs. He further added:

“People were talking about a bubble in March, in June, etc, and then we see that the market is even stronger today so I think they’ve been proven wrong … I think it’s a very organic market with great collectors who have great appreciation of art”.

Ethereum-based OpenSea has emerged as one of the top NFT marketplaces. Last month in august, OpenSea clocked a record-breaking $3.4 billion in NFT trading volumes.

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Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
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Why Trust CoinGape

CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.

About Author
About Author
Bhushan is a seasoned crypto writer with over eight years of experience spanning more than 10,000 contributions across multiple platforms like CoinGape, CoinSpeaker, Bitcoinist, Crypto News Flash, and others. Being a Fintech enthusiast, he loves reporting across Crypto, Blockchain, DeFi, Global Macros with a keen understanding in financial markets. 

He is committed to continuous learning and stays motivated by sharing the knowledge he acquires. In his free time, Bhushan enjoys reading thriller fiction novels and occasionally explores his culinary skills. Bhushan has a bachelors degree in electronics engineering, however, his interest in finance and economics drives him to crypto and blockchain.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.