What the heck ?! Non-fungible tokens, or NFTs as they are better known, there aren’t many headlines these days, but that doesn’t mean people have stopped giving huge sums of money for them. A collection of 101 NFTs featuring computer-generated cartoon monkeys sold for $ 24.4 million.
Images sold through online sale at Sotheby’s are part of Yacht Club Bored Ape (BAYC), a set of 10,000 semi-randomly generated monkeys created by Delaware-based Yuga Labs. According to the BAYC website, each monkey is unique and programmatically generated from over 170 possible traits, including facial expressions, headwear, clothing, and more.
Monkeys are stored as ERC-721 tokens on the Ethereum blockchain and hosted on IPFS. Buying one monkey for 0.08 ETH gives owners access to the club, bringing members-only benefits, which until now have been limited to exclusive merchandise and NFTs, as well as access to The Bath, an online graffiti board. Buyers also receive intellectual property rights to the images; this is not usually the case for NFTs.
#AuctionUpdate NFT 101 Bored Ape Yacht Club just sold for $ 24.4 million and NFT 101 Bored Ape Kennel Club reached $ 1.8 million in our Ape in! auction is the most significant #BAYC sale to date. Congratulations to all monkeys pic.twitter.com/e7UghlgtKy
– Sothebys (@Sothebys) September 9, 2021
A lot containing 101 monkeys, from which six new mutant monkeys can be obtained, was sold for $ 24,393,000. The sale also included a batch of NFT 101 Bored Ape Kennel Club designed as pet dogs for monkeys, which sold $ 1,835,000 for a total of $ 26,228,000.
The sale is one of the most expensive in the NFT space, beating a set of nine CryptoPunks sold earlier this year for $ 16.9 million. Meanwhile, the NFT of the world wide web source code went for $ 5.4 million. All of them are far from a record: Christie’s and artist Mike Winkelmann, known professionally as Beeple, made $ 69 million with EVERYDAYS: THE FIRST 5000 DAYS (see below).