Auction house Sotheby’s auctioned 107 non-fungible tokens (NFTs) of the 101 Bored Ape Yacht Club, by Yuga Labs. Sotheby’s estimated the auction to sell for a total of $12 to $18 million, but the final bid surpassed $24 million.
Yuga Labs’ project is conceptually similar to CryptoPunks. A limited number of 10,000 NFTs were semi-randomly generated using computer code with specific characteristics, each with a different level of scarcity. The project was launched in April of this year and went somewhat viral over the last couple of weeks, as can be seen by the $24 million sale.
A separate auction of the 101 Bored Ape Kennel Club, also by Yuga Labs, sold for $1.8 million.
Article continues …
Want the full story? Pro subscribers get complete articles, exclusive industry analysis, and early access to legislative updates that keep you ahead of the competition. Join the professionals who are choosing deeper insights over surface level news.
