Latest News

The cumulative sales of the BAYC – Bored Ape Yacht Club have surpassed $1 billion

The Bored Ape Yacht Club (BAYC), a collection of highly sought-after non-fungible tokens (NFTs), has already sold over $1 billion in total.

According to data site CryptoSlam, the total sales amount for the 10,000-piece collection is now about $1.03 billion.

BAYC hits a milestone in the first few days of the new year. Of course, with sales of around $55 million since January 1.

Celebrities, many of whom were rappers, were very enthusiastic about the digital apes in the latter weeks of 2021. Martin Garrix, Post Malone, Diplo, and DJ Khaled are just a few of the many artists. Of course, who have ‘aped in,’ as the crypto idiom goes.

On January 3, rapper Eminem joined the fray, spending $462,000 on a gold-jacketed specimen.

The endorsement of well-known celebrities has given credence to the notion. Which, that primates have become a status symbol on par with showy cars and watches. In-depth articles from publications such as Rolling Stone, a popular culture publication, have also been published.

MoonPay, the $3.4 billion crypto payments app, has also fueled interest in the NFTs. That’s, by brokering sales to big-name celebrities through a new concierge service, including many of those listed in this post.

Nonetheless, BAYC’s success has not been without controversy. Some sectors of the crypto market have mocked the group for not employing sensible security techniques. Which is, a flaw that leading to the theft of some monkeys. So, BAYC was obliged to respond to claims of racist roots in a Twitter post on Monday.

Related Posts – Ex-SEC Chair, Jay Clayton Believes Cryptocurrency Industry Is For Long Haul

Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. Crypto is not a legal tender and is subject to market risks. Readers are advised to seek expert advice and read offer document(s) along with related important literature on the subject carefully before making any kind of investment whatsoever. Crypto market predictions are speculative and any investment made shall be at the sole cost and risk of the readers.