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

By Bhushan Akolkar
Published September 6, 2021 Updated September 6, 2021
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The Bored Ape Yacht Club (BAYC) Auction Value at Sotheby’s Soars to $19 Million

By Bhushan Akolkar
Published September 6, 2021 Updated September 6, 2021

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 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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Disclaimer
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
About Author
Bhushan Akolkar
770 Articles
Bhushan is a FinTech enthusiast and holds a good flair in understanding financial markets. His interest in economics and finance draw his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In free time he reads thriller fictions novels and sometimes explore his culinary skills.

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