No, NFTs Didn’t Sink With FTX, This Bored Ape Just Sold For Nearly $1M

By November 24, 2022NFT
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Bored Ape NFT collection

The NFT market has showcased strong resilience amid the current general crypto bear market, which has left many cryptocurrencies and non-fungible tokens shedding more than 60% in value. The crypto bear market began sometime in June before deteriorating following the recent FXT contagion.

Bored Apes #232 Sold For $927K

The golden-fur Bored Yacht Club NFT, created by Yuga Labs, has proved the market potential of NFTs selling for 800 ETH or around $927,000 despite the NFT prices trending downwards.

On November 23, famous pseudonymous collector Keung confirmed purchasing the Bored Ape Yacht Club NFT #232 from Deepak Thapliyal, the CEO of cloud software startup Chain, at 800 ETH or about $927,000. “Thanks [Thapliyal] for a good deal,” Keung remarked.

Thanks @dt_chain for the good deal⚓️#NewNFTProfilePic NFT by @BoredApeYC pic.twitter.com/CgIy73fBx5

— Keungz ❤️ Memeland ‍☠️ YGPZ ‍♀️ (@keung) November 23, 2022

Thapliyal is a renowned NFT collector who came into the spotlight earlier this year after setting the record for a crypto Punk purchase. At the time, Thapliyal spent 8,000 ETH or $23.7 million for a single Punk.

Bored Apes NFTs Market Health

Launched in April 2021, the Bored Ape Yacht Club is one of the best-known NFT projects in the NFT market. The NFT collection features a limited edition of 10,000 NFTs. Unfortunately, many Bored Ape Yacht Club NFTs have lost considerable value in recent months.

Earlier this year, Canadian pop singer Justin Bieber purchased his Bored Ape #3001 for $1.3 million. Sadly, this NFT collection has plummeted following the recent bear market to a value of around $69,000.

Nonetheless, not all Bored Apes have suffered the recent market meltdown. Last month, another Bored Ape sold above the $1 million mark. The Bored Ape #8585 sold for 777 ETH or about $1.02 million on secondary markets.

Despite the market turmoil, the original Bored Ape Yacht Club (BAYC) NFT collection has yielded over $2.5 billion in trading volume. It continues to attract an array of investors and celebrities.

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