This Bored Ape BAYC sold for 10 times its worth at 769 ETH! Despite both the crypto and NFT market being down and low, another extremely large purchase has just been made for a Bored Ape Yacht Club (BAYC) NFT!
The 769 ETH Sale
Bored Ape Yacht Club #6588, featuring the crazy eyes and cowboy hat trait was just recently sold for a whopping 769.9 ETH, or around $1.2 million dollars. Much higher than Bored Ape’s current floor price of 78.8 ETH, or around $122,000.
This shitty bored ape just sold for 769.9 ETH and you’re still poor pic.twitter.com/5qj3onLvqD
— MenaceToSociety 🥶 (@NFTsAreNice) August 31, 2022
This massive sale was made even more surprising to many due to the fact that the seller had only recently bought the BAYC NFT yesterday for a price of 76.99 ETH (around $119,000) before they quickly resold it, flipping it for 10 times its original price and selling it for 769 ETH.
Although massive sales in big bluechip NFT projects like BAYC and CryptoPunks aren’t necessarily rare, they’re usually made for NFTs with rare traits, like a gold fur Ape. Because of this, many in the community seem stunned at the massive price given that it wasn’t an extremely rare ape.
Bored Ape’s Activities
The Bored Ape Yacht Club collection had quite a rocky experience in trading volume and floor price this past few months, especially after issues surrounding the threat of mass BAYC NFT liquidations by BendDAO were made prominent in late August.
Despite their drop to a floor price of 65 ETH in August, the project has since risen again and is now trading at around 78 ETH at the time of writing, though this would still be considered very low in comparison to their all time high floor of 153 ETH earlier this year.
Aside from that, Bored Ape has been seeing some big activities, such as being featured on a special limited-edition M&M’s chocolate, as well as Snoop Dogg & Eminem featuring their own animated BAYC NFTs on their recent performance at the VMAs.