Bored Ape Yacht Club Auction Sells for $24 Million
A collection of 101 Bored Ape Yacht Club Non Fungible Tokens (NFTs) sold for $24 Million this week at a Sotheby's auction.
The growing NFT art trend had yet another impressive showing this week when a collection of 101 Bored Ape Yacht Club NFTs sold for $24 Million, at an average price of $241,500 per NFT. The average price per Bored Ape on secondary markets is roughly $160,000. The Bored Ape project is one of the early generative art lines (projects where the NFT gets a number of random traits for the image at the time of minting) to gain major traction. The auction was conducted by Sotheby’s, one of the world’s largest fine art brokers, which started auctioning NFTs earlier this year.
The sale crushed Sotheby’s target price range of $12M-$18M and included a total of 107 NFTs. Bored Ape Yacht Club recently released an add-on NFT called mutant serums which “mutate” the original NFTs and yield a second Mutant Ape Yacht Club NFT. This is one of several rewards granted to holders of the original NFT, alongside a free NFT from the Bored Ape Kennel Club line. Kennel Club also recently had an auction of 101 NFTs, which sold for a total of $1.8M.
The project has been garnering attention from big name celebrities and athletes such as Stephen Curry, Dez Bryant, The Chainsmokers, and many more. This week also had the largest individual sale of a Bored Ape at $2.9M.