The Bored Ape Yacht Club (BAYC) Auction Value at Sotheby's Soars to $19 Million

After the CryptoPunks, it’s the Apes causing a rage of NFT sales happening on the Ethereum-based NFT marketplace OpenSea. Three days into the launch and the Bored Ape Yacht club has become one of the most popular NFT projects.

Last week on September 2, Bored Ape Creators Yuga Labs kickstarted the auction of 101 unique NFTs from the creators’ own collection at popular British auction house Sotheby’s.

The auction bid that happens online has shot to a staggering $19 million as of writing this story. It has already surged past Sotheby’s predictions of $18 million as the top bid.

The 101 Bored Ape Yacht Club (BAYC) auctioned by Sotheby’s currently bid for US$19 million. https://t.co/Q6F3z7ROOo pic.twitter.com/f8Gw4ouv3s

— Wu Blockchain (@WuBlockchain) September 6, 2021

The entire set of Bored Ape NFTs has 10,000 such unique images. Thus, the winner of this auction will have 1% of the entire collection. We are just three days into the launch and the auction will continue further this week till September 9.

The Bored Ape NFTs Creating Massive Rage

Just as the NFT market has been going gaga over CryptoPunks, the Bore Ape NFT collection is gathering a lot of steam off lately.

The Bored Ape Yacht Club accompanies other collections like Mutant Ape Yacht Club (MAYC) and Bored Ape Kennel Club (BAKC). In the last month of August, all the three collections combined amassed over 170,000 ETH ($644m) of the trading volume.

The Mutant Ape Collection also had a staggering launch a week back. Just in an hour of launch, Yuga Labs sold a staggering 10,000 Mutant Ape NFTs to new buyers thereby generating more than $96 million worth of ETH in a single hour.

Famous personalities across the world have been dabbling into the recent NFT craze in the market. NBA Start Stephen curry recently purchased the Bored Ape Yacht Club NFT for a staggering $180,000. Currey has also changed his Twitter profile picture to a blue-faced Ape.

The NFT mania has picked up massively this year with most of the NFT activity happening on the Ethereum blockchain.

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Bhushan Akolkar

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.

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