Bored Apes NFT Sell for $26 Million on Sotheby

A recent auction by Yuga Labs through British auction house Sotheby has ended with the sale of a set of Bored Ape NFT for a whooping of $26 million in total.

In a tweet, Sotheby revealed that the recent auction saw 101 Bored Ape Yacht Club NFTs (BAYC) consisting of 10,000 unique Apes with unique traits end with $24.4 million at its sale.

Another set of 101 Bored Ape Kennel Club NFTs, consisting of a collection of 101 dogs with unique traits and similar resemblance to Shiba Inu went for $1.8 million, bringing the total sale for Bored Ape NFTs at the auction to $26.2 million. Available information indicate that the auction began last week by Yuga Labs, the creator of the Bored Ape NFT.

It is worth noting that the Apes NFT have been popular in recent time, and as a matter of fact, the Bored Ape NFTs account for the third-largest trading volumes that the Opensea marketplace records which is after Loot and CryptoPunks.

A statement emanating from Michael Bouhanna, the art specialist at Sotheby, revealed that the NFT sector is seeing massive interest from traditional art buyers.

He said, “People were talkingabout a bubble in March, in June, etc, and then wesee that the market is even stronger today so I thinkthey’ve been proven wrong I think it’s a veryorganic market with great collectors who have agreat appreciation of art”.

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