The NFT project sold 10,000 Mutant Apes for 3 ETH each yesterday, bringing the total amount sold to 10,000. They are now trading for twice as much.
The NFT project Bored Ape Yacht Club raised $96 million in a single hour on Saturday night through a public auction of 10,000 Mutant Apes. The organization also airdropped a further 10,000 vials of mutant serum, which allowed existing holders of the Ethereum-based NFT to mint new apes for free.
The Bored Ape Yacht Club, which was established in April 2021, was initially made up of 10,000 randomly created NFTs. There are differences between each; for example, some wear tweed suits while others smoke cigarettes.
The project is akin to CryptoPunks, which has 10,000 computer-generated avatars that appear to be unoccupied and are even more expensive than the project in question.
I continue to be MASSIVELY impressed by @BoredApeYC #BAYC #MAYC 🧪🧪🧪 pic.twitter.com/tXo3EYdgFv
— AlexisOhanian 7️⃣7️⃣6️⃣ (@alexisohanian) August 29, 2021Holders of Bored Ape tokens were airdropped one of three serums: M1, M2, or Mega Mutant (M3). If a Bored Ape is injected with an M1 or M2 serum, the resulting Mutant Ape retains traits of the original ape. The M3 serum creates a completely different ape, with potentially rarer—and therefore more valuable—traits.
The airdrop was a great deal for Bored Ape holders, since they could keep their original NFT while minting a valuable extra token.
Mutation.. DONE! M1 & M2 🔥🧟♂️🧟♂️🧟♂️🔥 @BoredApeYC #mutated #merch #bayc #apefollowape pic.twitter.com/BIgmzXr1C2
— SWΞΞTTOOTH. 🍩🤑🍩 (@sweettoothnft) August 29, 2021All of the Mutant Apes, which were previously claimed either for free by holders or purchased for 3 ETH in the public sale, are now being sold for a minimum of 7 ETH ($22,400) each ape. According to data from the NFT marketplace OpenSea, the Mutant Apes have produced over $88.4 million in trading volume since their inception in January.
So I got this halo, laser eyed, smoking mutant ape tonight. I have no idea where it fit’s in but it was free so I am channelling gratitude. Thanks, this has been one of my best NFT days ❤️❤️❤️#nftcollector #nftcollectables #apefollowape pic.twitter.com/kVIs67wtAx
— cananapo (@mgmm) August 29, 2021Several celebrities, like NBA star Stephen Curry, have used the apes as profile images in the past, including him as recently as yesterday. Curry shelled over $180,000 to acquire his ape.
It is estimated that the Bored Apes have earned $354 million in sales, making them the sixth most successful crypto-collectible project of all time, according to CryptoSlam data. It costs 25 ETH ($80,000) to purchase the cheapest (non-mutant) Bored Ape on the market.
A companion dog NFT from the Bored Ape Kennel Club collection was airdropped to Bored Ape holders earlier this month. One million dollars was spent on August 10th on a bundle of a Bored Ape with its dogs.
Only 8 of the Mega Mutant Serum! If you get this you life is changed forever pic.twitter.com/qGFMrSkAaR
— cr0ss.eth (@cr0ssETH) August 28, 2021A collection of Bored Apes will be auctioned off on September 2nd by the auction house Sotheby’s. Despite the fact that the auction will provide major public attention for the project, not everyone is pleased with the outcome:
“Why are we selling our JPEGs via Sotheby’s and Christie’s who take a 25% cut?” Meltem Demirörs tweeted last night. “We need to stop looking to old school institutions for validation.”