After a winning bid of $24.39 million, the sale of Yuga Labs' 101 Bored Ape Yacht Club (BAYC) collection busted all records and exceeded all expectations.
The auction of Yuga Labs’ 101 Bored Ape Yacht Club (BAYC) collection has broken all records and exceeded all the expectations after the winning bid of $24.39 million. The auction was closed on Sept. 10 and was hosted by the most decorated auction house Sotheby’s which previously predicted that the collection will achieve something between $12 million and $18 million.
The total non-fungibles included a 101 Bored Apes and three M1 and three M2 “Mutant serum” NFTs. It is stated that when a bored ape token is mixed with a M1 or M2 serum it would let the holder to create a new Mutant Ape NFT which has the same attributes of the original Bored Ape but it is presented in a mutant format. If we remove the serum NFTs out of the formation as they are mostly airdropped for free to holders every bored Ape in the collection was valued at an average price of $241,000 or 69.4 Ether (ETH) at the time of publication.
The entire figure totals almost better above the floor price for Bored Ape NFTs on the secondary market, with data from OpenSea depicting a minimum price of 38.99 ETH which is worth around $135,000. Yuga Labs went on to auction off a 101 NFT collection of its side project Bored Ape Kennel club which closed on the same day after a winning bid of $1.83 million at a price of $18,150 per NFT. The figure was what Sotheby estimated it would be, $1.5 million to $2 million and got ahead of the floor price on OpenSea of 3.09 ETH or $10.700.
Yuga labs based in Delware recently launched the BAYC on April 30 and it has ever since grown into a famous project. Figures such as NBA star Steph Curry aped in by paying 55 ETH ($191,000) for a Bored Ape NFT late last month. Metaverse gaming firm the sandbox separated a bored ape for a record price of 740 ETH ($2.57 million) on Sept. 6. “The Avatar collections find additional utility for their NFT holders within our gaming virtual world. Through the interoperability of NFTs, they will be able to turn 2D collectible image NFTs into 3D playable avatars that are animated, can run, jump, socialize, play games and interact with their other peer avatars in the sandbox,” the blogpost stated.