NFT News

The Bored Ape NFT floor price has surpassed $430,000 for the first time.

On Friday, the floor price of Bored Ape Yacht Club (BAYC) NFTs reached a new high as the project’s creator, Yuga Labs, prepared to release a new collection for its metaverse project, entitled Otherside.

On the NFT marketplace OpenSea, a BAYC NFT now costs a minimum of 152 ETH (almost $434,000). According to The Block Research, which cites statistics from Dune Analytics, this is a new all-time high in both ETH and USD.

The BAYC NFTs were released one year ago today for 0.08 ETH (about $200). Early adopters are now sitting on gains of 216,900 percent in monetary terms, based on the current floor price.
Yuga Labs has been rapidly expanding since the release of Bored Apes. In a seed round for $450 million, the company was reportedly valued at $4 billion.

According to data from CryptoSlam, the BAYC collection has a total sales volume of approximately $2 billion. Yuga is also the designer of the NFT collections Mutant Ape Yacht Club and Bored Ape Kennel Club, which have sold for almost $1.3 billion and $312 million, respectively.

Larva Labs also just sold Yuga Labs two collections: CryptoPunks and Meebits. To date, these have generated a total sales volume of $2.7 billion.

Yuga’s newest project, Otherside, will make its debut on Saturday with a sale of Otherdeed NFTs for a flat minting price of 305 ApeCoin (now worth roughly $6,660). It intends to sell 55,000 Otherdeed NFTs to wallets that have cleared know-your-customer checks. If all of the parts sell out, Yuga Labs will earn $363 million, which would be the largest gross for an NFT project to date.

Gargamel, Gordon Goner, Emperor Tomato Ketchup, and No Sass are four pseudonymous personalities who founded Yuga Labs. Gargamel and Gordon Goner’s real names were discovered by BuzzFeed News earlier this year as Greg Solano and Wylie Aronow. Yuga Labs later confirmed the identities, while Kerem and Zeshan were exposed by Tomato Ketchup and No Sass.

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