How much is Bored Ape Yacht Club worth now that the Ethereum floor price for the Bored Ape Yacht Club (BAYC) NFT series has dropped to its lowest level since the beginning of the year? You may have some queries like why is the NFT monkey so expensive or why do people own bored ape NFTS. The most expensive nft monkey is on the top list because it is rare. People own most expensive nft bored ape because it unlocks some exclusive benefits. How much is the cheapest bored ape worth? Let’s look into it.
How does BAYC generate revenue?
In April 2020, BAYC came out under the names Gargamel, Gordon Goner, Emperor Tomato Ketchup, and No Sass. The product sold out in twelve hours after it came out. The BAYC and other NFT collections can be collected and are worth the same amount of money as Pokemon cards. BAYC is one of the largest NFT projects of this kind. Each of the 10,000 NFTs has its own headgear, facial expressions, clothing, and other parts that make it stand out. All of these things can be found on OpenSea, which is the best place to buy and sell these hairy animals.
Where do the funds from BAYC go?
Yuga Labs has put out two groups of gorillas that are different from each other. The group made about $2 million from their first album, but $96 million from their second album, which came out at the end of August 2021. When there are second-hand sales, like on Rarible or OpenSea, the studio makes money. Also, the studio would get a share of the money made from sales to other people. Sales royalties and other content about apes are two examples.
Because the Bored Ape Yacht Club collection is based on giving the impression of being exclusive, the studio and the Bored Ape community have put a lot of time and money into expanding this feature and making as much ape-related content as possible.
The cost to join Bored Ape Yacht Club right now
NFTs, or non-fungible tokens, have been around for five years, but they won’t be widely used until 2021. It almost happens at the same time as the start of the Bored Ape Yacht Club, which brings together 10,000 NFTs of cartoon apes from all over the industry. In the same way that Bitcoin has dominated the whole cryptocurrency market, BAYC has dominated the market for NFTs for the past year. DappRadar says that the NFT index, which looks at the number of tokens in circulation to measure how well non-fungible tokens are doing on the market, is down 23% today.
Statistics from different sources show that the number of transactions on the NFT marketplace OpenSea peaked on the second-to-last day, when sales went up by 173% to $23.46 million. The price went down along with the market, in part because the most recent report on consumer price inflation for May, which came out on Friday, showed an inflation rate of 8.6%. At 2:30 a.m. ET on Tuesday, Bitcoin was selling for about $22,513. Its value has dropped by more than 50% this year.
At the moment, Bored Ape Yacht Club has a reserve price of 79 ETH. It trades 325.99 ETH and 4 times in a 24-hour period. The reserve price for Bored Ape Yacht Club has gone up by 0.00% in the last 24 hours. 7D costs anywhere from 65 to 169 ETH, with an average price of 88.556 ETH. With a floor of 790,000 ETH, the project is now at the top of the NFT pricing floor. Its listing ratio is 8.28%, and the most it can be sold is 10,000.
How much is the cheapest bored ape worth?
In April 2021, you could buy Bored Apes for 0.08 ETH, which was about $192 at the time. The Bored Ape Yacht Club NFT cost around 152 ETH, or $429,000 in US dollars, when it was first sold. As a result of the rise of the Otherdeeds metaverse, the price of the Bored Ape NFT, which is now its floor price, seems to have gone up.
So, we hope you now know how much it costs to join the Bored Ape Yachet club and how much the cheapest Bored Ape is worth. Their status in the NFT industry has grown along with the popularity of Bored Ape NFTs. Bored Ape NFT owners can also use the Ape Image intellectual property for their own businesses or personal branding.