Bored Ape #1837 Was just Purchased for Nearly $ 1.5M; Did Elon Musk Buy This BAYC NFT?

A Bored Ape NFT Was Sold For Nearly $1.5M

Announced on February 25, a Bored Ape #1837 was purchased for 569 ETH, which worth nearly $1,5 million.

Deepak.eth, Chain CEO and well-known NFT collector, said on Twitter that BAYC #1837 was sold for 569 ETH and was purchased by Elon Musk through a MoonPay. But it has not been confirmed by Musk, who has criticized Twitter’s NFT avatar feature.

MoonPay is a fiat on-ramp that enables web and mobile developers to let their users purchase virtual currencies using credit card.

Three weeks ago, Justin Bieber, a famous pop artist, has just updated an Instagram post which presents his new BAYC NFT with the hashtag #lonelyboredape.

Justin Bieber paid $1.29 million for this NFT, while its estimated value was $208,237 as of January 29, 2022, meaning the star paid nearly 300% more than the NFT’s value.

Like the famous NFT collection CryptoPunk, the Bored Ape Yacht Club (BAYC) is a collection of NFTs stored as ERC-721 tokens on the Ethereum blockchain and hosted on IPFS consisting of 10,000 images of Bored Ape. The BAYC was created by Yuga Labs, composed of four core members and real-life friends. The collection launched on 30th April 2021. As being an NFT – a non-fungible token, purchasers of these digital images are guaranteed proof of owning a one-and-only version of that image.

Bored Ape Yacht Club collection is the second-highest traded NFT just eight months after release. Many celebrities have spent hundreds of thousands of dollars on these digital artworks and adorned their social platform avatar with them.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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