The NFT scene’s sweethearts, the Bored Ape Yacht club (BAYC) recently received a bid of $19 Million for their Bored Ape lot at Sotheby’s BAYC NFT auction, dubbed “The Greatest” of all time. Despite their already hefty price tag, the top NFT collectibles still have three days to go. Thus, they could sell much higher.
Sotheby’s BAYC auction: The Greatest of all time?
The world-famous auction house has been making serious moves in the NFT and crypto art world this year. However, even with clear expertise in the field, the organisation didn’t expect a $19million bid for the collection of 107 Bored Apes.
The tokens are part of a wider sale of NFTs by Yuga Labs, split between original project, BAYC and the newer, Bored Ape Kennel Club (BAKC). The first, Bored Ape Yacht Club 101 features 107 NFTs and has garnered bids up to $19 million at the time of writing. Although there were already high hopes, no one predicted the lot to bring in more than $18 million.
The other set of tokens in the auction, BAYC’s kennel club, have also gained attention. Despite lower levels of demand for this NFT series people are still willing to spend significant amounts of money. Currently, after 36 bids the top contender has offered $550,000 for the lot of 101 BAKC NFTs.
Why Has someone bid $19 Million on a Bored Ape NFT lot?
Increasingly, Bored Ape Yacht Club is among the most sought-after non-fungible series on the market. Hence last month it saw one individual token go for $1 million, three times the $330,000 the same asset sold for just one month prior. This set, however, has 107 individual tokens- making it extremely valuable.
Meanwhile, Sotheby’s has itself been at the centre of some seriously high profile NFT auctions in 2021, including the sale of ‘all gold’ Ape #7090, which recently went for over $2 million. In June, its ‘Natively Digital‘ art auction included the first non-fungible token ever minted. One month later, it hosted a Justin Roiland auction, and earlier in summer it opened its own auction house within the Decentraland metaverse.