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The Auction of 101 Bored Apes NFT at Sotheby’s Surpassed $24M

The auction of the 101 Bored Ape Yacht Club (BAYC) collection at Sotheby’s succeded expectations as the highest bid managed to reach $24.39 million.

The auction finished today. Sotheby’s expected to register between $12 million and $18 million for the collection.

Each Bored Ape that was part of the collection had a value of about $241,000 which was more than the average on OpenSea which shows some to be worth $135,000.

The BAYC collection was released on April 30th and soon became popular with NBA star Steph Curry buying one for $191,000 in August. The Sandbox, a metaverse gaming company, bought one for $2.57 million just four days ago.

“The Avatar collections find additional utility for their NFT holders within our gaming virtual world. Through the interoperability of NFTs, they will be able to turn 2D collectible image NFTs into 3D playable avatars that are animated, can run, jump, socialize, play games, and interact with their other peer Avatars in The Sandbox.”

Meanwhile, data from OpenSea and Dune Analytics shows that NFTs may enter into a period of decline again.

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