The NFT market continues to grow and shows no signs of slowing down. At the time of writing, Sotheby’s is hosting a specialized online sale of the NFT from the Bored Ape Yacht Club (BAYC,) and the current offer is $ 19 million.
$ 19 million for NFT monkeys
In the last few months, hype of nonfungible tokens have arrived, with several collections sold for astronomical numbers on various blockchains such as ETH, Solana and Binance Smart Chain (BSC).
We have already seen some huge sales this year, but the train does not seem to have slowed down yet. At the time of writing, Sotheby’s is hosting a collection 107 NFT from the Bored Ape Yach Club series. Each of them was created in 2021 and represents the ERC721 token. Initially, users could purchase apes for only 0.08 ETH.
In terms of specifications, each bored ape is a unique and program-generated token with more than 170 possible properties. This includes expression, headgear, clothing, etc.
The Sotheby’s collection, with its current offering, sets the price for each individual NFT at approximately $ 177,570. Given the initial purchase price of 0.08 ETH, this brings a huge profit to the seller.
There are still 2 days left until the end of the auction and the valuation of the collection may increase even more.