Rival NFT collection CryptoPunks hit a two-month low, after being outsold all-time.
Bored Ape Yacht Club’s non-fungible token (NFT) collection has hit a new all-time high, according to data from Dune Analytics.
Bored Ape Yacht Club has seen its sales outperform competitor projects such as Mutant Ape Yacht Club (MAYC), Art Blocks, Otherdeed, NBA Top Shot, Azuki, CloneX, VeeFriends, and Moonbirds. More importantly, BAYC’s $2.4 billion in sales volume has exceeded one of the most successful digital collectibles projects, CryptoPunks.
The minimum price of the record-breaking Yuga Labs NFT collection reached 176,989 ETH, according to user analysis. The analysis also revealed that BAYC hit a two-month high in terms of average price, at 440.51 ETH.
In contrast, the average price of the rival NFT CryptoPunks collection hit a two-month low, at 33.73 ETH. With $2.4 billion in total sales, BAYC managed to overtake CryptoPunks earlier this week by taking the top spot in overall sales.
Increased interest in Bored Apes
Comprised of 10,000 unique NFT digital collectible ape avatars, BAYC did not do particularly well after its initial launch in April 2021. However, with cryptocurrency markets having struggled over the course of the past year, BAYC seems to have hit its peak, reaching $2 billion in sales in May this year.
BAYC currently has the most turnover of any NFT collection over the past day at just over $2 million, according to data from CryptoSlam.
However, data from DappRadar puts the figure closer to $1.67 million. The crypto data provider also listed NFT BAYC #6588 as the top NFT sale over the past day, at $1.19 million.
Appearance at the MTV Awards
Yuga Labs, the company behind Bored Apes Yacht Club, is currently developing its first metaverse game dubbed ‘Otherside.’ At present, Otherside remains in its development phase and no official release date has been offered.
Until the VMAs, very few had experienced what Otherside may offer upon its release. Only developers and owners of Otherdeed land NFTs had been able to experience an alternate reality.
BAYC has even become popular enough to permeate the highest levels of Western popular culture. Earlier this week, rappers Eminem and Snoop Dogg performed at the MTV Music Video Awards as avatars of the Bored Ape. Sunday’s VMA performance began with Snoop Dogg smoking a comically oversized joint and Eminem suffering the ill effects of the secondhand smoke. From here the two fell down the rabbit hole to the Otherside metaverse. The two performed variously from the top of an MTV logo, from the roof of
