You may not know this yet, but NFTs are becoming mainstream. Days after the payments company, Visa purchased a female CryptoPunk NFT; there has been another newsworthy purchase. However, this time around, it’s not an institution, and the NFT bought isn’t CryptoPunk.
Iconic basketballer and three-time NBA Champion Steph Curry has joined the exclusive Bored Ape club by buying one of its NFTs for $180,000 (55 ETH). While CryptoPunks might be the first set of NFTs, they are not the only one that comes as a collection. Bored Apes is similar to CryptoPunks in that it’s also a collection of 10,000 avatars minted as NFTs. This time around, they are not human avatars but ape avatars with different expressions to show boredom.
The one Curry bought wears a tweed suit, has zombie eyes with blue fur. The first two attributes are quite rare for Bored Apes, with only 1% of the 10,000 wearing tweed suits and 3% with zombie eyes. The new seller clearly made significant gains since the NFT was last sold for 1.5 ETH three months ago. Since the two-time MVP bought the NFT, others have also bided for it, but the prices they are offering are much lower than what he paid.
It’s safe to say Stephen Curry bought the NFT in the nick of time because a snapshot was scheduled for August 28. That’s barely a day after he bought the NFT. Everyone holding bored ape NFTs received a mutant serum per ape after the snapshot. Introducing the mutant serum to the Bored Ape NFT create a Mutant Ape.
There are three types of serum, M1, M2, and M3. With M1 and M2, a mutant ape would be created while still retaining the original ape features. What’ll happen when M3 is used remains unknown. But whichever serum that is introduced to the NFT will not affect harm or destroy the original ape. This allows members of the Bored Ape Yacht Club(BAYC) to also become part of the Mutant Ape yacht club. But with the limit being 20,000 Mutant Ape, newcomers can get involved in the BAYC ecosystem.
That aside, demand for Bored Apes has increased in recent months, and so has the prices. According to OpenSea, the cheapest Bored Ape for sale is now 25 ETH. However, most are substantially higher in price. Its trading volumes have risen drastically, making it the third most traded NFT projectafter CryptoPunks and Art Block. With Steph Curry buying one, the publicity is only going to increase further.
This is a Contributor Post. Opinions expressed here are opinions of the Contributor. Influencive does not endorse or review brands mentioned; does not and cannot investigate relationships with brands, products, and people mentioned and is up to the Contributor to disclose. Contributors, amongst other accounts and articles may be professional fee-based.