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Tag Archives: Bored Ape Yacht Club (BAYC)

Here’s How Much Justin Bieber Is Down on his NFT Investment

The Canadian singer and teen idol – Justin Bieber – made the headlines in January by purchasing an NFT from the BAYC collection for 500 ETH (around $1.3 million at the time). The intensifying bear market and the decreasing interest in digital collectibles, though, have shrunk the USD value of his investment by over 94%. Bieber’s Massive Paper Loss Justin Bieber was among the famous individuals who dived into NFTs when the hype around them was at its peak. The superstar bought...

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Here’s How Much Eminem and Neymar Are Down on Their NFT Investments

The diminishing interest in NFTs and the plunge in trading volumes have severely affected the soccer star – Neymar Jr. – and the renowned rapper – Eminem in terms of their digital art purchases. At the beginning of the year, the Brazilian athlete purchased two digital collectibles part of the Bored Ape Yacht Club for over $1 million, while their current valuation is around $340,000. Eminem’s paper losses as of the moment are approximately $330,000. More Celebrities Affected...

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SEC Probes Bored Ape Creator for Potential Unregistered Securities Sale

Yuga Labs – the team behind the popular Bored Ape Yacht Club (BAYC) NFT collection – is now under investigation by the Securities and Exchange Commission (SEC). The commission is examining whether the company violated securities laws by issuing certain NFTs, or through their newly launched crypto token ApeCoin.  SEC Versus NFTs A person unfamiliar with the matter told Bloomberg that the SEC seeks to find out whether some of the firm’s NFT more closely resemble stocks, and if...

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BendDAO in Trouble, Ethereum Reserves Drained

BendDAO – a lending protocol for non-fungible tokens (NFTs) – is the latest project to have been hit with an insolvency crisis. The five-month-old platform has reportedly run out of ETH over the weekend. According to the researcher, NFTStatistics.eth, BendDAO is just left with 12.5 WETH in the contract. The lenders of BendDAO have landed in a sketchy situation. Its co-founder said they have come up with a proposal to improve the protocol, hoping to make out of the crisis....

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BAYC Sales Soar 100% Overnight as Ape #5383 Sells For $1.45 Million

Bored Ape Yacht Club saw a considerable increase in its overall sales volume and the number of traders for the past 24 hours. This happens as Bored Ape #5383 was sold for 777 ETH, worth some $1.45 million at the time of this writing. Bored Ape Yacht Club is arguably the most popular collection of non-fungible tokens and surely the one with the highest floor price. At the time of writing this article, the floor price sits at 72 ETH. Data from DappRadar shows that over the past...

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Ripps Ryder Claims his Bored Ape NFTs Are “Artistic Criticism”

As per Ripps’s filing on Monday, the artist has asked a Los Angeles federal court to stop a trademark lawsuit brought against him by the BAYC creator. He further argued that his NFTs of the apes were a type of “appropriation art” meant as criticism and protected by the First Amendment. His NFTs of Bored Apes reportedly aimed to bring Yuga Labs’ attention to alleged racism. He also called it an “act of protest” against the NFT giant. For context, Ripps has been a vocal critic...

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Costly Mistake: Someone Just Sold a Bored Ape NFT for 200 USDC

When it comes to blockchain transactions, some mistakes are irreversible and could cost one a fortune. Sadly, though, every now and then, crypto investors make these as the most recent one was from the owner of Ape #6462, who sold the NFT for $200 USDC. BAYC Holder Sells Ape #6462 for $200 On Sunday, Boredapebot, a Twitter handle that posts sales of Apes from the Bored Ape Yacht Club (BAYC) collection, revealed that someone sold Ape #6462 for a measly 200 USDC ($200). Bored...

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Yuga Labs’ NFTs Trading Volumes Slump Amid Crypto Selloffs

The Otherdeed NFTs drop caught massive attention from the industry last week as high demand triggered unprecedented Ethereum fees. Otherdeeds are the NFT collection for claiming virtual land in Otherside, the metaverse space created by Yuga Labs – the parent company behind Bored Apes Yacht Club (BAYC) and Mutant Ape Yacht Club (MAYC) However, as the crypto bloodbath continues with Bitcoin dumping to the lowest point since last July, the transaction volume for blue-chips NFT...

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$37 Billion Sent to NFT Marketplaces in 4 Months, Chainalysis Reports

Blockchain analytics firm Chainalysis’ latest report indicates that NFT activities have slowed down in 2022, with growth beginning to pick up again since mid-April. The document also noted that growing interest derived from retail investors – as shown in the rising number of small-sized transfers – has not yet overridden the market share dominated by institutional investors. NFT Activities Stabilized in 2022 In the wake of the impressive growth in 2021 – culminating in...

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BAYC’s Otherside: Nearly $200M Gas Burnt in Hours, ApeCoin Crashes 30%

The highly-anticipated virtual land sale related to Yuga Labs’ metaverse project went live hours ago and affected a large portion of the entire crypto market. The massive demand led to ETH fees worth nearly $200 million, while ApeCoin’s price slumped by double digits after the sale. Ever since Yuga Labs, the creators of popular NFT projects such as Bored Ape Yacht Club, announced the metaverse project Otherside, the anticipation for the actual sale was soaring. This led to a...

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