Bored Ape Yacht Club NFTs Sell for $24.4 Million at Sotheby’s Auction

This year, the popularity of non-fungible tokens (NFTs) reached new highs. These intangible digital assets, representing one-of-a-kind virtual things such as photos, movies, and other media, have swept the art world.

A unique collection of 101 Bored Ape Yacht Club NFTs has just been sold at Sotheby’s auction house for a stunning $24.4 million (approximately Rs. 179.2 crores). These cartoons make up 1% of the whole collection of Bored Apes. Images of colorful animated apes can be found in the NFT set. The apes are seen wearing various accessories and apparel and have a variety of facial expressions.

There’s also the possibility of making six additional mutants. The animated photos of the bored apes are part of the Bored Ape Yacht Club collection of NFTs, which Yuga Labs created in the United States. It consists of a complete series of approximately 10,000 computer-generated cartoons.

According to a Sotheby’s announcement, the auction was begun by Yuga Labs, Bored Ape NFT. The NFTs were expected to cost between $12 million and $18 million when they were first announced.

The NFT craze has reached unprecedented heights this year. The Crypto Punk NFTs caused a stir in May when a set of nine sold for a whopping $16.9 million (approximately Rs. 124.2 crores) at Christie’s auction. Beeple, a digital artist, had previously sold a jpeg image for $69 million in March (roughly Rs. 506.6 crores).