According to a tweet from Hiren Patel, a domain investor has spent more than $500,000 to purchase a Bored Ape Yacht Club Ape. The golden ape is part of the BAYC NFT series that has become quite popular during the past few months. Several domain investors I know have purchased BAYC apes. Hiren shared the news in a tweet:
Boom Purchased by my very good friend. Super happy for you @Robistraveling .. We been discussing about it since last night. Super happy for you. https://t.co/xYkHp0hoZ8
— XBOT (Hiren Patel) 🍌 🦍 👽🐱 (@QualityNames_) August 5, 2021
The 199 ETH purchase is equal to approximately $555,755.26 USD at the current exchange rate. The purchase was confirmed on the OpenSea transaction page. I am sure there’s a better way to search that I don’t know about, but a quick look at highest last sales of BAYC apes indicates that this 199 ETH sale is the largest sale I could find on OpenSea. Someone should correct me if I am wrong, but it looks like there were only five other BAYC sales at 100 ETH or higher.
I reached out to Robert on Twitter, and he confirmed the purchase. He told me he and his brother Jack (who operates the Apex Moon domain investment company) acquired the golden ape NFT together.
I lack the knowledge to comment about whether or not this was a great purchase, but one of the nice things about buying and selling on OpenSea is that the purchases become a matter of public record.
Are people out of their minds?
They’ve gone ape… LOL
@Bruce Yes they’re.
I’m fairly confident much of this NFT and crypto rubbish is just a huge psyop. Some of it might be real (ie: getting a few suckers to buy into it in small amounts as speculation) but I suspect much of it, especially the larger transactions, are to teach the dumb schmucks to buy into this new fad.
The people of the world have learned almost exponentially (well, some of us anyway) and we have learned all about the fiat currency and banking frauds – they print currency for free and then pass it on to us for our labor and assets, plus interest (usuary), then depreciate the hell out of that currency and leave us with nothing. Their system will inevitably collapse and they desperately need a sparkling new con to deceive us – hence why crypto was invented (plus the bonus of being cashless and totally traceable and controllable). Cryptos have not gone as well as they’d hoped. NFTs are just another attempt at creating a worthless virtual currency.
Anyone want to swap their house and/or lifetime of labor for a worthless digital ape I can create on my computer? No, I didn’t think so. Even the obscenely wealthy are not so stupid, but they do this to set a precedent for us to do it.
I’ve read 50+++ articles, have many friends I totally respect that are involved….and I was heavily involved in the art world many years ago. And I’m not ashamed to admit….I don’t get it. I read Morgan Linton’s post the other day on what the community has meant to him, meeting new and interesting people and positive news, etc, and I get that. I just don’t get the investment value or allure. I still own 2 Warhols; and I enjoy them every day as they are displayed on my walls. And I acquired them in the early 90’s, so they have appreciated a great deal. And they are liquid….I can send them to Sotheby’s or Christie’s anytime I want to sell. But they are on my wall and I enjoy them. Not sure an NFT is the same. Plus, they aren’t making Warhol’s anymore!!!!! Looks like NFT creation is unlimited.
Fred, I can help explain. In fact, I’ve got a Rare JPEG and I will sell it to you for just $10k… (< 5ETH) "trust me" it will be worth millions. 😉
I have a small and a big banana tape to my toilet wall and it is worth billions$$$….fresh banana twice or maybe 3 times a day.
I can only imagine what you do with those bananas taped to your wall.
Fred, this is the speculation generation, it’s a hot potato basically. Everyone believes there’s another sucker down the line, until there isn’t. This isn’t about art.
Unregulated market, more of the same.
@Fred You’re not missing out on anything.
I own these NFT domains bullshitnft.com nftbullshit.com
I am already NFT F rich!!
How about small dick yacht club or big dick yacht club…..
Bored Ape Yacht Club Ape why ape? it is racist!!! on and on and on
Time will tell whether fad or not. Domains clearly very different digital assets but rising crypto/NFT reinforces scarcity of truly premium .com domain names.
Six figure offers for my best domains not interesting anymore it takes 7 figures.
NFT’s are digital liabilities, not assets.
I put all my resources into the crypto gaming. There’s a lot to say. You may watch this:
The girl works for kitco, a huge online gold dealer/news site. This is new interview about crypto gaming. https://www.youtube.com/watch?v=J0PlPJwM1rA&t=449s
What are the odds of pump & dump? It seems like a very familiar group of domainers buying and selling from one another.
“If you can’t find the sucker at the table, you’re it.” – Anon.
I think that is probably going to happen here. A lot of it is short term flippers getting involved.
I believe in NFTs but I think the price of Bored Apes etc is now a bubble. When domainers are breaking the records that is a concern, .Mobi all over again.
In other news, my mum has offered to buy my Bored Ape for $1 million but ill be willing to sell it to somebody else for 900k. Sheesh… IMO Its one clever accounting trick to move around money, especially as its cost free and free of capital gains tax in Dubai.
The interesting thing is in BAYC mostly domainer friends. And highest purchased by a domainer.. so it’s not a good sign for BAYC.
I’m affraid if the sales suddenly stoped due to the few big friends just hold for the real buyers! and our domainer can lose little or more.
These bored apes serve no utility. Tons of copy cats are coming out daily. 1-2% will survive.
in 3 months you will see the massive drop as interest declines just llike nba tops shots.
Not one domainer can say in 20 words or less was utility they have.
Why would you not just spend 2k on a patrick mahomes 1 of 200 nfts. Future hall of fame player and you only have 200 or 250 of his first nfts ever produced. Bored ape vs patrick mahomes. Really ! In 3 months it will crumble and go on to the next thing. When your 7-11 clerk is telling you to buy bored ape it is time to sell. Just my opinion
So let me re cap, Bored Apes are shite but the NFT of some unknown sports player is what people should buy?
Why wear a ROLEX, when you can buy a Citizen? You old folks don’t get the function of a social token to people who spend 90% of their time online flexing to the digital world.
Yeah, us “old” folks (40-50yo) just don’t get the function of that social token (so you look cool to your “friends” perhaps), but we DO get the function of creating a worthless token and selling it to a fool for a huge chunk of change. Yeah, we’re just so out of touch with “reality”.
speculative manias are as old as civilization. there are plenty of books written about bubbles and manias throughout history. I’m afraid it’s not different this time. every bubble pops, every mania ends, no one rings a bell at the top and a lot of money will be transferred in the process. couple of common characteristics in the bored apes mania are the artificial scarcity and a relative small circle of insiders selling apes back and forth, creating higher floor prices in the process. here we have a total given amount of 10k digital ape images and only 1-2% of those need to be bought and sold to make an impact. of course the bored apes theme in itself is nothing special but it works incredible well as a vehicle. what’s different is that most manias process and unfold in a bubble itself so most people never hear about it or will know that it ever happened. but as so many domain investors are involved in this mania we have vip tickets for the show and so far it has been very entertaining to watch!
Haters gonna hate and meanwhile I’m out here just buying more apes! Have fun staying poor!
This whole comment section has gone off because a person who owns domains, has invested in NFT art, I don’t understand the person above hangs his Warhol’s whether fake, or real whose so say, other than the blockchain on the wall, and looks at them everyday, fine, great, you do know they make ultra slim LED screens with special bezel frames, that can do amazing things when displaying digital versions of authenticated art.
The same reasons come to mind when people pay $30,000 a year to play tennis at a private club, compared to the free community center, you are trying to box something into your own ideals.
This is not just a domain investor, this is a good business man, but singling him out as a domainer, that paid a high amount for NFT’s means nothing.
this is like selling pet rocks.
Robert Kalfayan fined nearly half a million dollars for tax evasion
Enough said about the credibility of the people involved.
As to Andrew Rosener telling people to ‘enjoy staying poor’, no class.
Four of the six great apes – Eastern Gorilla, Western Gorilla, Bornean Orangutan and Sumatran Orangutan -are now listed as Critically Endangered, whilst the Chimpanzee and Bonobo are listed as Endangered. And NFT people here are collecting apes and exploiting them. What do you think happens when apes see these posted on a computer. Ever see planet of the apes. This is what will happen the majority of owners of bayc are in Hong kong. These will be pumped for another month then the decline will be around 70% in a short 4 weeks. Kinda of what happened with the 5 number domains and 4 letters 5 years ago. They call me the funnydomainernod because I,m funny and predict with amazing accuracy.
In my way of seeing NFT art is not temporary, when Christie’s auction house gets involved it is not silly see here: https://www.theblockcrypto.com/linked/113817/christies-to-hold-first-ever -sale-of-meebits-and-bored-ape-yacht-club-nfts
Christie’s just goes where the money is, especially if it gets them lots of attention. Their decision is not “Do we think this is art?” but “Are there enough people who will be bidding so we can get a good commission?”
Some more examples. they basically all do the same:
Hm, I am trying to post a list of similar projects here but the system seems to reject those postings. Too many URLs maybe. So I will just mention the subjects. All these projects create 10,000 slightly different pictures, create a club, sell them for crypto money.
Apes – Cats – Ladies – Ducks – Pills – Dogs – Bonsai – Misfits – Dots
I just read this article and tbh E, I just cant. I have no doubt someone is making money, I also have no doubt someone will lose money. It’s just that simple.
This ape was just sold for 600 ETH, which is $2,272,518 USD.