An unknown buyer purchased 101 NFTs (Non-Fungible Tokens) on Sotheby costing 24.4 million. These NFTs are all based around “bored apes” from the Bored Ape Yacht Club collection. Each ape is deemed to be unique with different characteristics: bored apes in glasses, bored apes with dogs, etc.
The collection of NFTs was created by Yuga Labs and it consists of 10,000 unique NFTs.
To put these numbers into perspective, it means that each of these apes was sold for approximately $241,500 each. That’s a lot of money if you consider the fact that the layman might see it as just a digital image.
It shows you where we are right now, the overall idea of what we value is being changed.
Although the overall cost of the NFTs might seem like a large sum of money. It’s still not the most expensive NFTs sold to date. That belongs to Beeple who sold an NFT for $69.3 million in march. That price was definitely a reflection of that particular point in time.
Back then, NFTs initially started to gain traction in the public and everyone wanted a piece of the market. This was fundamental to the inflated prices being tossed around in the market.
Even though the market seems like it has died down after that period, we have seen an uptick in sales during august which signals that we might be in for another bull run. Let’s see how the market performs during the remainder of the year.
