News JVTech Are NFTs Really Dead? This Bored Ape (BAYC) is sold for almost 1 million dollars
When Bitcoin and other cryptocurrencies started falling a few months ago, NFTs followed suit. Just as the virtual art market is going through a rough patch, a sale took the entire ecosystem by surprise. A famous Bored Ape (BAYC) NFT sold for $1,000,000 on the backdrop of a crypto winter.
Bored Yacht Club NFT Monkey sold for $1,000,000
Studio Yuga Labs famous collection called Bored Ape Yacht Club continues to unleash the urge of NFT collectors. These 10,000 monkey avatars have also suffered from the general fall in value of the NFT market. Still, a recent sale has just shown that the collection could still see stunning transactions worthy of the January 2022 asset bubble.
On November 23rd, a particular NFT Bored Ape Yacht #232 was sold for the modest sum of 780 Ether or $914,150 at current prices.
This price is “justified” by the golden fur attribute, a trait unique to 46 Bored Ape. This transaction is thus the third largest sale (in ether) since the launch of the collection – surprisingly in the middle of the crypto winter. So who is crazy enough to buy an NFT at this price at this time?
The buyer responds on behalf of Keungz. He is well known in the NFT world and a very big collector of digital tokens. It owns about 1,000 NFTs from renowned collections, including:
- Bored Ape Yacht Club
- CryptoPunks
- CyberKongz
- other act
- moonbird
- Etc.
His collection is estimated at several million dollars.
A sale that is not representative of the NFT market situation
This new transaction does not necessarily reflect the state of the NFT sector. In fact, since January 2022, the total sales volume on the secondary markets has only been declining. As TheBlock shows, despite this extraordinary sell-off, November remains the worst month of the year for NFTs.
Also, this one isn’t necessarily any more impressive as the previous owner named Deepak bought this Bored Ape 232 during the January bubble for around $2,700,000. As a result, the man records a monumental loss of nearly $2,000,000 – like Justin Bieber’s Bored Ape.
