In the months of March and April Bored Ape Yacht Club (BAYC) had a total sales volume of around $2.04 billion
Bored Ape Yacht Club (BAYC) Total Sales Volume Reaches $2.04 billion
When it comes to digital treasures, the Bored Ape Yacht Club is one of the most well-known names. As of May 4, 2022, Bored Ape Yacht Club had a total sales volume of around $2.04 billion.
This is a big boost for the project after Yuga Labs‘ successful launch of the Otherside metaverse. In terms of sales, Bored Ape Yacht Club trails Axie Infinity (AXS) and CryptoPunks.
Despite this, BAYC continues to outperform other popular games such as Art Blocks, NBA Top Shot, Otherdeed, CloneX, Azuki, VeeFriends, Moonbirds, Meetbits, and The Sandbox.
BAYC Sales Volume Is Due To Holders Of Bored Ape Yacht Club
The principal cause of the growing BAYC sales volume can be linked to the eligibility of holders of Bored Ape Yacht Club as possible earners of free airdropped ApeCoin (APE) as well as future owners of plots of land in the Otherside metaverse.
The ApeCoin Foundation announced an airdrop of 150 million APE when ApeCoin was introduced in March 2022.
Owners of Bored Ape NFTs are eligible for up to 10,094 APE in compensation. The airdrop is still going on and will come to a close on June 15, 2022.
Following a 59 percent drop in February to a yearly low of 381 unique buyers from 933 in January, BAYC observed an increase in unique purchasers in March.
In March 2022, BAYC had 669 unique purchasers, resulting in 1,011 total sales, a 75 percent increase in 31 days.
Overall, BAYC’s sales volume in March was roughly $256.95 million, up 106 percent from sales of $124.42 million in February 2022.
Yuga Labs’ Metaverse Project Is A Success
Yuga Labs, the designers of BAYC, announced the launch date for the Otherside metaverse on April 30. The BAYC community was exposed to 200,000 parcels of land via Otherside.
Those that assist in the metaverse’s development will receive half of the land (100,000).
On April 30, 55,000 plots were sold out of the remaining half, while the remaining 45,000 were airdropped for free to members of the Bored Ape Yacht Club and Mutant Ape Yacht Club.
This had a beneficial impact on BAYC’s average retail price. BAYC’s average sale value reached an all-time high of $308,497.23 (approximately 101 ETH) by the end of April 2022. The sales volume for April at BAYC was around $236.31 million.
Impact On APE Price
APE began trading on April 1, 2022, at a price of $12.70, achieved a monthly high of $26.91 on April 28, and finished the month at $20.01. Between the opening and closing prices in April, there was a 57 percent gain.
