FTX Owns Many Grail Ape NFTs…So What Will Binance Do Now?

image of Bored Ape NFTs that Binance will take over

Binance, the world’s biggest cryptocurrency exchange, will soon own some of the rarest and most valuable Bored Ape Yacht Club NFTs. Yesterday, Binance announced a rescue deal to help cover a vast liquidity crunch at major rival FTX. With Binance taking over FTX, many are asking what will happen to the ‘Grail Apes’ in the company’s various NFT wallets. 

image of Bored Ape NFTs that Binance will take over

With a potential deal all but confirmed, Binance is set to own FTX’s massive portfolio of Bored Ape NFTs.

Binance now owns some of the rarest Bored Ape NFTs!

Binance signed a nonbinding agreement on Tuesday, November 8th to purchase FTX, the cryptocurrency exchange founded by Sam Bankman-Fried. FTX and Binance have yet to disclose the full details of the deal, but Binance is expected to take over the company.

FTX has a considerable portfolio of NFTs. Twitter user @howlshot states they brought these when trying to build their own NFT marketplace. They wrote, “FTX bought these as part of an auction to jump-start their NFT marketplace. They sold some off already but still have these.”

Many people are questioning what will happen to these NFTs if and when Binance officially takes over FTX.

What NFTs are in the FTX wallet?

If Binance does indeed purchase FTX, it will own some of the most valuable Bored Ape NFTs. The NFTs include four Trippy Fur Apes, three Solid Gold Fur Apes, Various Pizza Apes, and a King’s Crown Ape.

The floor price for a Bored Ape NFT is currently around 68 ETH. However, some of these have extremely rare traits. For example, a Solid Gold Fur Ape last sold for 777 ETH three months ago.

Binance will have to choose whether to keep these rare Bored Ape NFTs or put them up for sale, which will bring some considerable collectors to the table.

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