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Bored Apes Appears to be Immune to This Crypto Winter

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  • Bored Ape Yacht Club are growing amid the falling crypto market.
  • The collection was featured in Eminem’s “From D 2 LBC.”
  • Famous artists like Madonna, Jimmy Fallon, Steve Aoki and more own BAYC.

BAYC Standing Tall

Amid this tumultuous crypto market, when the investors are escaping the space, NFTs are going down, one entity is standing tall among them. Bored Ape Yacht Club (BAYC) by Yuga Labs is a famous NFT collection going into reverse gear in this crypto winter. Forbes reported that Bored Ape #6588 was sold for 1.17 Million USD.

BAYC appears to be the only NFT collection in the market which is enjoying a luxurious time. Recently, Eminem and Snoop Dogg featured the Bored Apes in their new music video “From the D 2 LBC” and during the MTV VMA awards. With the links going to artists like Marshal Mathers, increasing popularity of the digital collection does not come as a surprise.

Another fact is the upcoming release of the Otherside metaverse by Yuga Labs, the creators of the Bored Apes. Otherdeed, the virtual land plots in the game were launched on OpenSea platform, the biggest NFT marketplace. The collectible immediately caught the attention of the users as it will allow them early access in the Bored Ape metaverse.

Ape Beverages, a beverage company, recently announced their new canned water called Ape Waters, will feature BAYC on the can. People think that this is another attempt by Bored Ape creators to monetize their presence in Web3. Apart from this, Jimmy Fallon, Linkin Park’s Steve Aoki, Madonna, Neymar Jr., and more owns at least one of these funky monkeys.

In spite of the crumbling crypto market, average paid value for NFTs has increased by 2.5% to 371 USD. 2021 remains the most fruitful year for non-fungible tokens. But the space has witnessed only disappointment after that.

NFTs are the cousin sisters of cryptocurrencies with a small twist, they cannot be exchanged. Artists can generate income by digitizing their artworks and minting them on platforms like OpenSea, Solanart, Rarible and more. To this date, the highest grossing NFT art remains Beeple’s Everydays, which was auctioned at Christie’s for a whopping 69 Million USD.

Anurag

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