How Much Is The Bored Ape Yacht Club For?
NFTs, or Non-Fungible Tokens, are digital assets that are unique and cannot be replicated. They are similar to Cryptokitties in that they represent a new form of digital ownership and can be used to represent anything from virtual goods to real-world assets. NFTs have the potential to revolutionize the digital world by providing a new way for people to own and interact with digital assets.
The first wave of NFTs consisted mainly of collectibles, and was dominated by the immensely successful Cryptokitties. Since then there have been many successful NFT projects including CryptoPunks, CryptoBots, Etherbots, Axie Infinity and Decentraland.
One of the most popular NFT collectibles is the Bored Ape Yacht Club. It contains 10,000 NFTs and billed as an exclusive society or social organization where users can access an exclusive Discord server, for example, where fellow owners—including celebrities—hang out and chat. Ownership of a Bored Ape Yacht Club NFT unlocks membership to this exclusive club.
The pool is now flush with famous faces, including Justin Bieber, who announced that he has bought one of the prized assets. With famous stars entering the market, how much is getting in on the action likely to cost?
The prices vary but one thing is definite, the Bored Ape Yacht Club is quite expensive. The cheapest Bored Apes are now selling for 116.9 ETH, around $295,000. To put that figure into context, this is approximately equal to the current price of Bitcoin. The current minimum cost for a BAYC NFT is about 70 ether, or around $266,000.
To give you an idea of BAYC prices, the most expensive NFT has sold for over 4 million dollars. The club began selling 10k units back in January 2020 and there were only a small number of buyers at that time. Within months, the price was several times higher than it had originally been listed. At its peak—which it is currently at—the club was valued at over 560 million dollars.
It’s no surprise that the Bored Ape Yacht Club has seen such high prices, as it offers exclusivity and a chance for members to interact with celebrities. With the club now selling for over $266,000, it’s likely that the price will continue to rise as more people become interested in joining. If you’re looking for an investment opportunity or just want to join one of the most exclusive clubs around, buying a Bored Ape yacht may be the right move for you.
The ape pictures in this post was part of a collection of 100 sold for $24.4 million. Notice the tie-dye variant one of the most rare in the collection.