NFT EveningNFT Evening
    Facebook Twitter Instagram Reddit
    NFT Evening NFT Evening
    • News
      • Collectibles
      • Crypto Art
      • Blockchain games
      • Metaverse
      • Music
      • Interviews
      • Columns
    • Guides
      • Top NFT Projects
      • Top Blockchain Games
      • NFT Marketplaces and Tools
    • Learn here!
      • What is an NFT?
      • How to keep your NFTs safe
      • NFT Glossary
    • NFT Calendar
      • NFT Drops
      • NFT Conferences
      • NFT Launchpad
    • Newsletter
    NFT EveningNFT Evening
    News

    Home » News » Guy Sweeps 165 Renga NFTs, Borrowing 600 ETH against 7 Apes. WTF?

    Guy Sweeps 165 Renga NFTs, Borrowing 600 ETH against 7 Apes. WTF?

    By James EllisOctober 3, 2022Updated:January 27, 20232 Mins Read

    The Renga NFT collection has dominated the NFT community on Twitter in the last few weeks. Now, someone has taken a massive gamble on the project’s success to secure some of these artistic NFTs. In fact, the person in question borrowed 600 ETH, secured against seven BAYC NFTs, to purchase a whopping 165 Renga NFTs.

    image of a Renga NFT character
    FOMO is increasing in the Renga NFT project.

    Renga mania is here!

    Following the mint in late August, the popularity of the anime-style pfp characters has exploded – and so has the price. In the last 30 days, no NFT collection apart from CryptoPunks (who had a record-breaking sale) has seen a higher market volume than Renga. The floor price for an NFT is now over 3 ETH.

    The increase in popularity has seen some incredible Renga FOMO. The latest example is the 165 Renga NFTs purchased using a 600 ETH loan. Twitter user @degenharambe was one of the first to spot the sale.

    They tweeted, “Lmao, someone took out a loan on seven apes for 600 Eth and swept the f••• out of renga today”. They stated that the buyer made the transaction through a loan on the Arcade.xyz platform. 

    What next for Renga NFTs? 

    Well, the person who just loaned 600 ETH to buy 165 Rengas will certainly be hoping that the price continues to rise. Significantly, it cost around 430 ETH so far, meaning they can still buy more NFTs with their loan. However, there is a considerable risk involved in this deal. The user is putting their BAYC NFTs down as collateral to make the purchase possible.

    Renga NFT holders will hope the FOMO continues and the team can continue to deliver on this exciting project. Last week, the team even held a community meet-up for Renga holders, which was hugely successful.

     


    All investment/financial opinions expressed by NFTevening.com are not recommendations.

    This article is educational material.

    As always, make your own research prior to making any kind of investment.

    anime nftBored Ape Yacht ClubNFT loanYuga Labs
    Previous ArticleTrait Sniper: Are The Rugging Rumours True?!
    Next Article UPS Launches A Metaverse Location In Decentraland
    James Ellis
    • Twitter

    James is an English teacher and freelance writer with a passion for NFTs, football, film and technology.

    More great NFT Evening content:

    What is the Crypto Market Structure Bill and How Does it Affect NFTs?

    June 5, 2023

    Digital art goes A-list: Illuminate.art showcases NFTs of Lady Gaga and Snoop Dogg’s portraits by David Christopher Lee

    June 5, 2023

    The Future of NFTs as According to Gary Vee

    June 5, 2023

    Mobox goes cross-chain with MoDragons: Unleash the power of NFT dragons on the Arbitrum chain!

    June 5, 2023
    Explore, Discover, and Impact Decentraland's Marketplace with the Upgrade

    Revamped and Ready: Decentraland Unveils Upgraded Marketplace Navigation!

    June 5, 2023
    Unleash Your Creative Potential: MakersPlace's Artist Launchpad Program is Here

    Supercharge Your Digital Art with MakersPlace’s Launchpad Program!

    June 5, 2023

    Trip.com Launches Trekki NFT: Your Passport to Extraordinary Travel Experiences!

    June 4, 2023
    FC Barcelona and Plastiks Join Forces to Create Sustainable NFTs

    FC Barcelona’s Eco-Friendly NFTs: Plastic Crisis Meet Soccer Legends

    June 4, 2023

    NFTevening is the biggest website for NFT news. We cover; breaking news, upcoming mints, plus, interviews with top NFT artists and projects. Put simply, we are the best place for new and experienced non-fungible token fans — making content fun & accessible

    Privacy policy
    Terms and conditions

    Article Categories
    • Blockchain games
    • Collectibles
    • Columns
    • Crypto Art
    • Guides
    • Interviews
    • Metaverse
    • Music
    • News
    • NFT Marketplaces and Tools
    • Sponsored Content
    • Top Blockchain Games
    • Top NFT Projects
    NFT Calendar
    • Today’s NFT Drops
    • Upcoming NFT Drops
    • Solana NFT Drops
    • NFT Calendar
    • NFT Calendar : Add Your NFT Event
    Get In Touch
    • Advertise (Media Kit)
    • Job Opportunities
    • About Us
    • Contact Us
    • Newsletter
    NFT Beginners Guides
    • How to Sell NFT Art
    • How to Create NFT Art
    • How to Display NFT Art
    • How To Make Passive Income With NFTs
    • Best Crypto Wallet
    • Best NFT Coins
    • Best NFT Rarity Tools
    • What is a DAO ?
    • What Are Crypto Gas Fees ?

    Type above and press Enter to search. Press Esc to cancel.

    Go to mobile version