Bored Ape Yacht club is among the new CryptoPunks that have been gaining traction among investors in the collectible avatar. Since its launch, in the last six weeks, the tokens have traded over $million and have ranked extremely well on the data site DappRadar.
Interestingly, even though the project is new, 5000 people are out here trading Apes. If you would love to give it a try, keep reading.
Is There a Limited Number?
This NFT project has a limited supply of tokens depending on the current demand. Initially, the developers of this Club created 10,000 Bored Ape NFTs. However, there have been potential changes in the purchasable number since most investors are interested in trading Apes.
The Benefits
All these Ape Tokens are available as digital collectibles living on the Ethereum blockchain. The functions of your Ape are to work as a Yacht Club Membership card and your access to only members’ benefit.
One of the best benefits you can receive from your Ape is the Bathroom or the Collaborative graffiti board in the Club. Moreover, there are options to unlock future areas and perks through the community road map.
Massive Sale on Bored Ape Yacht Club
Bored Ape Club tokens are rising in price in both the NFT and secondary markets. Over the last seven days, these Ethereum-based NFTs have risen to the price of 19.8 ETH (about $61,250) on OpenSea. This is more than double its price in the last 60 days.
Surprisingly, the cheapest Bored Ape Yacht Club collectibles as of now start at 15 ETH (about $46,400) on OpenSea. Just seven days ago, the same category was at the 10 ETH.
What Changed?
NFTs have seen tremendous changes in the last 20 days. A lot of people have been growing interest in CryptoPunks. Especially lately, most celebs have paid attention to the changes and price adjustments in the CryptoPunk floor.
The price changes that Bored Ape Yacht Club is constantly dependent on some of these trends. Over the last weekend, two famous trading enthusiasts purchased Bored Ape Yacht Club.
Chris Camillo purchased Bored Ape Yacht Club #8246 a few weeks mentioned on Benzinga. His Ape is ranked #7472 in a rarity for its traits because of cheetah fur, sunglasses, and mohawk hair.
Days later, Logan Paul tweeted that he had purchased two Bored Apes. After those tweets, the Ape Activity Floor has risen within hours.
In a span of 24hrs, there were 276 Apes sold, marking an increase of over 200%.
What Next?
As the market trends change, no one knows what to expect from the collectible markets. Now that the project has been lucky to get enough traction, what is the future? Very soon, there will be cries of sell-out, and most investors will have to purchase/bid from secondary markets.
Soon, the token might rise in price. Those who bought multiple Apes with have their lives change for good. However, if it happens differently and prices fall, we will all stay together or get washed by the wave.
Bored Ape Yacht Club NFTs
BAYC NFs have risen in price over the last weeks after Logan Paul and Chris Camillo purchased Apes. This has created traction for the 10000 Ethereum based collectibles.
The future looks bright, though, for most investors who have purchased the Apes. However, collectibles can change any day, and this could be it.