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The US multinational Sotheby’s has closed the auction of Yuga Labs (NFT)’s “101 Bored Ape Yacht Club” non-fungible token set for $24.3 million. The auction ended on September 10 and exceeded the expected settlement of the NFT lot of approximately $12-18 million.
‘101 Bored Ape Yacht Club’ and ‘Mutant Serum’ NFT Auction for $24 Million
An NFT project, the Bored Ape Yacht Club (BAYC) has been a popular non-fungible token set since the inception of the project. Several NFTs sold for hundreds of thousands of dollars for one BAYC NFT. There are approximately 10,000 BAYC NFTs in the original pool and 5,423 unique ethereum addresses own at least one BAYC NFT. Onchain stats show that one address owns approximately 105 units of Bored Ape Yacht Club, and data shows the group is the fourth-largest seller in seven days this week.
Dappradar.com stats show that BAYC Group saw $44.82 million in sales this week which is down 64% since last week. This week saw 368 BAYC NFT traders, which is about 58% lower than the number of traders in the previous week. BAYC NFT’s $44 million settlement stemmed from 259 sales last week. In addition to BAYC sales in the NFT markets, Sotheby’s sold 101 BAYC NFTs for $24.3 million.
The set of 101 BAYC NFTs contained a total of three ‘serum mutant’ M1 NFTs and three other ‘serum mutant’ M2 NFTs. The owner of a BAYC NFT kit can take advantage of the M1 and M2 parts to issue NFTs Mutant Ape Yacht Club (MAYC). This specific group (MAYC) is 11th in terms of weekly sales. The metrics show that the past seven days saw $24.54 million in sales between 1,642 traders and 1,177 sales.
Sotheby’s Knee-Deep In Crypto, Auction Raises BAYC NFT Minimum Price
Leading auction house Sotheby’s competes with Christie’s when it comes to non-fungible tokens (NFT) auctions. Of course, Christie’s helped sell the most expensive NFT to date when Beeple auctioned his NFT for $69 million. However, Sotheby’s is no stranger to crypto and blockchain solutions as it recently unveiled an auction of a rare diamond and digital asset accepted for payment.
Sotheby’s Cryptopunk sold one for $12 million in June, and the previous month the auction house said it was partnering with Coinbase to accept crypto assets for physical art sales. Sotheby’s first joined the NFT fray in March when it partnered with a mysterious and popular artist named Buck. Sotheby’s auction also increased the minimum price value ($130K per BAYC via Opensea) for BAYC, at least by auction-settlement metrics, to $235K per BAYC.
In addition to Christie’s and Sotheby’s, the famous Asian auction house Phillips entered the world of cryptocurrency. During the first week of May, Phillips Auction House revealed that it was accepting crypto assets for a physical art auction, which featured famous and anonymous street artist Bansky.
What do you think of the auction results for Sotheby’s BAYC NFT Collection? Tell us what you think about it in the comments section below.
photo credits: Shutterstock, Pixabay, Wiki Commons, and Sotheby’s BAYC NFT webpage
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