The NFT craze is officially out of its tree with a Bored Ape Yacht Club token selling this week for the equivalent of US$1.29 million, a new record price for the BAYC collection.
On August 11, BAYC #3749 – one of 69 in the current series – sold for 400 ETH on OpenSea. It last changed hands on July 16 for US$318,771, with the seller pocketing more than a million dollars’ profit in less than a month.
To put these prices in appropriately wacky context, a simple grey and black NFT of a “pet rock” sold for over US$100,000 earlier this month to emphasise the fact that prices for collectible tokens of dubious artistic merit are off the scale.
The distinctive BAYC #3749 NFT (above) was bought by OpenSea user Boothy, who also purchased BAYC #9507 for US$175,140 on August 9. What is claimed to make his latest buy unique is its combination of rare features: it’s one of 3 percent of Bored Apes that sport a black T-shirt and a sea captain’s hat, and one of 4 percent with a grin on its face. It’s also the only one of the series with laser eyes and one of 46 of the 69 with “solid gold” fur.
The BAYC collection launched in April with a minting price of between US$200 and $300 depending on gas fees. Other distinctive features of Apes in the collection include crucifix earrings and robot eyes. A dagger in the mouth can add more than 70 ETH (US$220,000) to the asking price of a single Ape.
The cartoonish simian traits are all randomly generated using an algorithm designed by Yugo Labs.
Bored Ape Yacht Club Donates 66 ETH to Orangutan Charity
Last week, Bored Ape Yacht Club donated 66.45 ETH (US$208,000) to Orangutan Outreach, making a total of US$850,000 it has gifted to the charity so far. The donation was made via an Ethereum transaction through crypto philanthropy platform The Giving Block.
Founded in 2007, Orangutan Outreach is a New York-based non-profit devoted to protecting orangutans in Borneo and Sumatra.
In further positive news involving otherwise seemingly frivolous tokens, NFTs are set to play a key role in wildlife conservation, specifically the endangered Seychelles magpie robin.
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