• Bored Ape Yacht Club Sales Surge 900% as OpenSea Doubles Deal Volume

  • According to Dune Analytics, the daily trading volume of Ether on the NFT marketplace OpenSea jumped from around $48 million to $105 million yesterday.

    The last time Ether daily trading volume on OpenSea reached $100 million was on October 15. Back then, it was more of a regular occurrence. Things cooled off for months, but a sudden 10x spike in sales of Bored Ape Yacht Club NFTs yesterday seems to have contributed to the outburst.

    According to NFT data aggregator CryptoSlam, sales of Bored Ape Yacht Club (BAYC) NFTs rose 900% overnight, while sales of the spin-off Mutant Ape Yacht Club (MAYC) rose 1,100%.

    Bored Ape Yacht Club is a collection of 10,000 NFTs that was launched back in April. Each image is a portrait photo of a cartoon ape, generated from up to 170 possible combinations of features. These NFTs are stored on Ether in the form of ERC-721 tokens.

    The NFT project has recently received heavyweight support from the popular world. It started last week when Rolling Stone magazine partnered with BAYC to release 2,500 limited edition paper magazines, each with a bored ape on the cover.

    On Wednesday, a digital version of the magazine was auctioned off as NFT on the Superare website, along with another replacement cover inspired by the Mutant Ape Yacht Club – a 20,000-copy series of similar NFTs released by the creators of BAYC in August. There’s currently a day and a half left to bid on them.

    On Thursday, Universal Music Group – the world’s largest record label – announced that it will form a Gorillaz-style meta-group called Kingship. The group’s avatar will be based on the Bored Ape Yacht Club NFTs, owned by collector Jimmy “j1mmy” McNelis.

    Fans can expect to see Kingship perform in the virtual world and release more NFTs as the metaverse expands.The group will be managed by Nicholas Adler, who currently manages the cryptocurrency-friendly Snoop Dogg, and its music will be released by a Universal subsidiary called 10:22PM.

    In a similar announcement, legendary hip-hop producer Timbaland announced Friday that he too will be starting a meta-universe band consisting of BAYC incarnations. To accompany the project, Timbaland has also formed Ape-In Productions, a new company that will produce the music and animation for the project.

    The company will release its first single as NFT on Wednesday. The song is called “ApeSh!t” and features a band called TheZoo.

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