Bored Ape Yacht Club – $ 96 million worth of mutant monkey NFTs sold in an hour

An invasion of 10,000 new mutant apes

Launched in April 2021, the Bored Ape Yacht Club (BAYC) originally included 10,000 NFTs called โ€œBored Apeโ€ and depicting randomly generated monkeys. Each of them has different characteristics. Some wear hats, unusual clothing or glasses, while others have multi-colored skin or smoke a cigarette.

This Saturday, the BAYC team performed a massive airdrop. The holders of “Bored Ape” each received one of the following three sera: M1, M2 or Mega Mutant (M3). By injecting it into their monkey, they had the opportunity to create a new mutant monkey, called “Ape Mutant”, keeping the features of the original but with new characteristics.

Depending on the level of the serum, the mutant monkey can be completely deformed, with more or less rare peculiarities. As for the bottle of Mega Mutant (M3), it completely transforms the one who inoculates it, giving it potentially rarer and therefore more precious traits.

Mutation .. DONE! M1 & M2 ๐Ÿ”ฅ๐ŸงŸโ€โ™‚๏ธ๐ŸงŸโ€โ™‚๏ธ๐ŸงŸโ€โ™‚๏ธ๐Ÿ”ฅ @BoredApeYC #mutated #merch #bayc #apefollowape pic.twitter.com/BIgmzXr1C2

– SWฮžฮžTTOOTH. ๐Ÿฉ๐Ÿค‘๐Ÿฉ (@sweettoothnft) August 29, 2021

For holders of Bored Ape, this airdrop was a godsend. This is because they could keep their original monkey while still getting an additional NFT of potentially great value.

๐Ÿ‘‰ To read – Bored Ape, Meebits and CryptoPunks up for auction at Christie’s

Bored Ape Yacht Club raises $ 96 million

In addition to the 10,000 sera distributed free of charge to their community, BAYC has also put up for sale 10,000 new mutant monkeys. Listed for 3 Ether (ETH) each, they all found buyers in just an hour. The BAYC project was thus able to raise $ 96 million.

At the time of writing and in just two days, these NFTs are already selling for a minimum of 7 ETH, or $ 22,400 each. According to data from the OpenSea platform, Mutant Apes have generated trading volume of around $ 140 million since their launch.

The Bored Apes Monkeys are the fifth best-performing cryptocollectible project of all time. Also according to OpenSea data, the monkeys have generated more than $ 400 million in sales. The minimum price threshold for a (non-mutant) monkey is now set at 25 ETH (or $ 80,000).

On his Twitter, reporter Colin Wu analyzed BAYC’s Etherscan address and found that $ 28 million obtained from the sale of the mutant monkeys was automatically transferred to the Blockfolio exchange (now FTX).

The 28,000 ETH obtained by Mutant Ape Yacht Club, BAYC transferred to the address identified as the Blockfolio (FTX) exchange. The community suspected that it was selling ETH which caused a 4% drop in ETH. https://t.co/5rOe2fA3Z6

– Wu Blockchain (@WuBlockchain) August 29, 2021

According to the BAYC community, this movement could be the cause of the recent and rapid 4% drop in the price of ETH. The journalist questioned the Bored Ape Yacht Club team and its 2 co-founders on this subject, a request that has remained unanswered to date.

๐Ÿ‘‰ To read on the same subject – The OpenSea platform now processes 98% of the total volume of non-fungible tokens (NFTs)

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About the Author: Lilian Aliaga

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Freelance writer located between Paris and Toulouse. I want to share my passion for the world of cryptocurrencies with as many people as possible. I am also interested in technical analysis and trading.
All articles by Lilian Aliaga.

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