news hardware He takes out a loan to buy an NFT for 1.3 million dollars
While the value of most NFTs has largely been revised down since the speculative peak last January, some appear to have been spared the crisis. A collector recently took out a loan of up to $1.3 million to acquire an extremely rare NFT Mutant Ape from the famous studio Yuga Labs.
A very rare Mutant Ape Yacht Club (MAYC) was sold for 1.3 million dollars
As the entire NFT sector struggles to regain interest, Yuga Labs avatar collections are seeing massive sales. Last week, an NFT from the Mutant Ape Yacht Club (MAYC) collection sold for $1.3 million.
Mutant Ape Yacht Club is in a way an appendix series to the famous Bored Ape Yacht Club (BAYC) collection of monkeys popular in showbiz. This continuity of the project managed to create a similar enthusiasm as the previous collection. Despite the drop in price, a common Mutant Ape is worth around 15.6 eth or $20,000 at current prices.
So why did a collector named fragment.xyz recently buy an NFT from the collection for 65x the reserve price?
Half of the 20,000 avatar limited mutant collection was generated by exposing his bored monkey to 3 types of serums. Once the serum was used, Bored Ape owners received an NFT Mutant Ape with more or less rare accessories:
- The M1 (common)
- The M2 (rare)
- The M3 (Mega)
This new smash sale is for exactly one Mutant Ape M3: Mega Noise (#30003). These very rare NFTs from the collection feature 12 monkeys with unique attributes. The sale therefore completes the discovery of these famous mega mutants.
A mega ready for a NFT in times of crisis
However, the mysterious collector fragment.xyz didn’t complete the whole sale… First of all, this name actually hides a company of three people specializing in the collection of NFT and the “Metaverse”.
To obtain Mega Noise, the company resorted to a loan of 1,000 ETH or 1.3 million dollars. In the art space, in the form of non-fungible tokens, this type of practice is seen again and again – unpaid bills almost cost the market dearly last August.
As collateral, fragment.xyz brought in their other two Mega Mutant Apes. If they don’t repay the loan within 90 days, they lose their equivalent NFTs. In fact, collectors’ opensea account (NFT platform) already contains 3 Mutant Ape Mega. With this new purchase, fragment.xyz now owns 1/3 of these “mega rare” mutants.
This new record confirms collectors’ interest in Studio Yuga Labs – the source of the most popular NFT collections (BAYC, Cryptopunks, etc.). These continue to post exceptional sales records despite the drop in enthusiasm in the market.
