• Boring Ape Yacht Club Sells $96 Million NFT in One Hour for Mutant Ape Release

  • Bored Ape Yacht Club holders received their free Mutant Ape NFT yesterday.

    The project sold another 10,000 mutant apes to the public for about $10,000 each.

    The minimum asking price for a mutant ape on OpenSea, the NFT marketplace, is about $22,400.

    The NFT project Bored Ape Yacht Club (Bored Ape Yacht Club) raised $96 million in an hour of public sales of 10,000 mutant apes on Saturday night, and airdropped another 10,000 vials of mutant serum for existing holders of the ethereum-based NFT to cast new apes for free.

    Launched in April 2021, the Boring Ape Yacht Club initially consists of 10,000 randomly generated NFTs. Each has different characteristics – for example, some wear tweed suits, while others smoke. The project is similar to CryptoPunks, whose 10,000 computer-generated avatars appear to be equally, if not more, expensive than empty.

    Holders of Bored Ape tokens were airdosed with one of three serums. either M1, M2, or a giant mutant (M3). If a bored ape is injected with the M1 or M2 serum, the resulting mutant ape retains the characteristics of the original ape. the M3 serum creates a completely different ape with potentially rarer – and therefore more valuable – characteristics.

    Airdropping is a great deal for holders of “boring apes” as they get to keep their original NFT while minting a valuable extra token.

    Mutant Apes, which were either claimed for free by holders or purchased for 3ETH in an open sale, are now selling for at least 7ETH ($22,400) each. According to NFT marketplace OpenSea, Mutant Apes has generated about $88.4 million in trading volume since its launch.

    Like most NFTs, you can’t do much with boring apes. Their owners, among them, as of yesterday, NBA star Stephen Curry, often use them as profile pictures to show their wealth. Curry bought his apes for $180,000.

    Boring apes are the fifth most successful cryptocurrency collector’s item of all time; they have generated $354 million in sales, according to CryptoSlam. The asking price for the cheapest (non-variant) Bored Ape is 25 ETH ($80,000).

    Earlier this month, Bored Ape holders were airdropped a companion dog NFT from the Bored Ape Kennel Club collection. on August 10, a bundle of Bored Ape accompanied by his dog sold for $1 million.

    On September 2, auction house Sotheby’s will auction off a bundle of Bored Apes. While the auction will bring a lot of public exposure to the project, not everyone is happy with the sale.

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