Breaking News
Get Actionable Insights with InvestingPro+: Start 7 Day FREE Trial Register here
Investing Pro 0
Ad-Free Version. Upgrade your experience. Save up to 40% More details

Bored Ape Yacht Club Exceeds $1 Billion in Sales

CryptocurrencyJan 06, 2022 02:30PM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
Bored Ape Yacht Club Exceeds $1 Billion in Sales

The remarkable rise of the Bored Ape Yacht Club can be attributed to the overwhelming acceptance and subsequent buying of collections owned by the club during the course of the previous year. Celebrity figures such as Eminem, Steve Aoki, Gunna, Jimmy Fallon, Post Malone, and Snoop Dogg all own different collections of BAYC NFTs. Should the current trend in record sales continue, it is estimated that BAYC might overtake CryptoPunks in total sales volume this year. However, collections owned by the club do not come cheap, and there has been a general increase in prices over the years. Presently, the minimum cost of entry into the club is set at 71 Ethereum or $267,000 in its dollar equivalent. This increase has made membership of the club unattainable for the general public.

However, despite enjoying increased popularity, the Bored Ape Yacht Club has been plagued with several issues: the theft of NFTs belonging to the club. Since December last year, there has been a growing number of cases of BAYC NTFs being stolen. The thefts are usually carried out by hackers who scam owners of bored ape collections via email phishing and gain access to their crypto wallets.

Read Also: Mytheria Launches 3,000 Pandora (OTC:PANDY) Packages on Binance’s NFT Marketplace

According to news reports from ARTNews, one of the victims, Todd Kramer, the owner of an art gallery in New York, reportedly lost 15 NFTS valued at $2.2 million, four of which were Bored Apes on the of 30th December. The fraudster has since proceeded to resell Mr. Kramer’s NFTs. However, with the assistance of OpenSea’s crew and other concerned buyers, some of the stolen NFTs have been tracked and returned to Kramer.

This current trend has once again raised concerns over the regulation of the NFT space to avoid thefts and other vices within the space. Owners and fans of NFTs and cryptocurrency have since turned to centralized entities for assistance, in a move considered ironical given that the crypto and NFT spaces were introduced to serve as viable alternatives to centralized financial institutions.

Continue reading on BTC Peers

Bored Ape Yacht Club Exceeds $1 Billion in Sales

Related Articles

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:  

  •            Enrich the conversation, don’t trash it.

  •           Stay focused and on track. Only post material that’s relevant to the topic being discussed. 

  •           Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.

  • Use standard writing style. Include punctuation and upper and lower cases. Comments that are written in all caps and contain excessive use of symbols will be removed.
  • NOTE: Spam and/or promotional messages and comments containing links will be removed. Phone numbers, email addresses, links to personal or business websites, Skype/Telegram/WhatsApp etc. addresses (including links to groups) will also be removed; self-promotional material or business-related solicitations or PR (ie, contact me for signals/advice etc.), and/or any other comment that contains personal contact specifcs or advertising will be removed as well. In addition, any of the above-mentioned violations may result in suspension of your account.
  • Doxxing. We do not allow any sharing of private or personal contact or other information about any individual or organization. This will result in immediate suspension of the commentor and his or her account.
  • Don’t monopolize the conversation. We appreciate passion and conviction, but we also strongly believe in giving everyone a chance to air their point of view. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at’s discretion.

Write your thoughts here
Are you sure you want to delete this chart?
Post also to:
Replace the attached chart with a new chart ?
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
Are you sure you want to delete this chart?
Replace the attached chart with a new chart ?
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Continue with Google
Sign up with Email