The demand for non-fungible tokens (NFT) is getting higher. Sotheby’s auctioned off a collection of 101 NFT monkeys from the Bored Ape Yacht Club series. The lot sold for an impressive $ 24.4 million, making it one of the largest sales in NFT history.
A collection of nine NFT CryptoPunks sold for $ 16.9 million in May, and digital artist Beeple sold a collage of his works for $ 69 million in March. While these sales are not entirely straightforward to compare directly, since the Bored Ape Yacht Club collection contained 101 pieces and Beeple sold only one image, they demonstrate that the demand for NFT is unabated. Buyers are eager to purchase digital collectibles and the market continues to grow.
The NFT Bored Ape Yacht Club series was released in April. It consists of 10 thousand monkeys with a random combination of a range of accessories such as hats, blindfolds, glasses, necklaces, pipes and more. Monkey buyers become honorary members of the club, which should provide various privileges. At the moment it is mainly access to exclusive merchandise, bonus NFTs and the use of an online graffiti board. Monkey owners also received NFT dogs from Yuga Labs, the creator of the series.
At the moment, the cheapest monkey is on sale for $ 149 thousand. Auction houses with centuries of history such as Sotheby’s and Christie’s, which now account for the lion’s share of digital collectibles sales, have seen value in promoting NFT.