Investing.com - Financial Markets Worldwide
Get 40% Off
Get 40% Off
🚨 Volatile Markets? Find Hidden Gems for Serious OutperformanceFind Stocks Now

Memeland Goes Bananas for BAYC in $1.3M USD Spending Spree

Published 02/06/2023, 11:20 AM
Updated 02/06/2023, 12:30 PM
Memeland Goes Bananas for BAYC in $1.3M USD Spending Spree

  • 9GAG’s Memeland has made a significant investment in the NFT market by purchasing eight high-volume Bored Ape Yacht Club (BAYC) NFTs.
  • BAYC has been the top-selling collection in the past seven days, according to data from NonFungible.com.
  • Memeland has not yet revealed the official endgame for the NFTs or the reason behind the purchase.

On February 6th, 2023, the Bored Ape Gazette’s official Twitter account revealed that Web3 venture studio Memeland had purchased eight high-volume Bored Ape Yacht Club (BAYC) NFTs.

.tweet-container,.twitter-tweet.twitter-tweet-rendered,blockquote.twitter-tweet{min-height:261px}.tweet-container{position:relative}blockquote.twitter-tweet{display:flex;max-width:550px;margin-top:10px;margin-bottom:10px}blockquote.twitter-tweet p{font:20px -apple-system,BlinkMacSystemFont,"Segoe UI",Helvetica,Arial,sans-serif}.tweet-container div:first-child{ position:absolute!Important }.tweet-container div:last-child{ position:relative!Important }

Bored Ape Gazette,

“Memeland spent 796.86 ETH or $1,304,000 USD on the eight nautical themed primates, according to Etherscan data.”

Each of the purchased BAYC NFTs includes rare hat accessory traits, and the highest-volume NFT in the purchase was BAYC 2059, worth 132.7 ETH or approximately $215,879.29 USD at the time of writing.

Considering the current state of the NFT market, the high-volume NFT purchases have fostered keen anticipation within the BAYC, Memeland, and broader crypto communities.

A Bullish Buy

Data from NonFungible reveals that BAYC has been the top-selling NFT collection in the past seven days, with 798 sales totaling $26,4M. The high-volume BAYC sale and raffle speculation have sparked the interest of the crypto community.

Notable crypto investor Cirrus shared a screenshot from the Memeland Discord, which suggests the BAYC NFTs will be raffled off.

3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads .

Captainz

Beyond the aforementioned high-volume sale, Bored Ape Yacht Club has remained one of the most prominent Blue-Chip NFT projects in the space, with an all-time volume of $5.1B, according to data from NonFungible.

Despite a steady decrease of NFT sales from the 2021 highs, the broader NFT market has outlasted the notorious crypto winter and has shown signs of picking back up after the prolonged downtrend as new high-rollers are entering the scene.

On the Flipside

  • Considering the overarching nautical themes of the BAYC NFTs and Memeland’s own Captainz collection, the community might be curious about a potential oceanic integration or collaboration.
  • Memeland has yet to respond to a request for comment by the Bored Ape Gazette.

Why You Should Care

The rapid global adoption of BAYC has contributed to the rise of the crypto industry. Integrating a notable Web3 entity like BAYC with a Web 2.0 mainstay like 9GAG could propel the NFT market.

Read more about Bored Ape Yacht Club:

BAYC Creators Yuga Labs Sewer Pass NFTs Net $6M on New Game Launch

Read more about NFT market growth in the crypto winter:

Japanese NFT Market Projects 53% Growth Despite Crypto Winter

See original on DailyCoin

Latest comments

Fairy Cat game” is an NFT-GameFi ecological game base on the BSC chain with the theme of “Fairy Cat”. The game incorporates a diversified “Play to Earn” gameplay. Players can obtain $TDD rewards by collecting cat fragments, synthesizing fairy cats, PvP player battles and NFT transactions.
fairy cat : the new crypto game  Fairy Cat Forest is a sub-project of the "Save every cat in the world" project initiated by Japanese cat lover Rock. A kind of blockchain game. In Fairy Cat Forest, you can let your elven cats find treasures for you. These treasures will become your assets in Fairy Cat Forest. Your assets can be converted to dollars at any time.pets around you,  All proceeds from this project will be used to save stray cats on the street, buy cat food and provide cat nests for them, under the supervision of players The sacred tree, the home of the elven cats On a small hill in the Elven kingdom, there is a sacred oak tree called the Divine Tree, a giant tree with nine roots that connects the nine worlds of the universe. One goes to the Land of Fire, one to the Land of Fog, one to the Land of the Gods of Warner, and one to the Land of the Gods of Assa. There is also the Land of the Light Elves, the Land of the Dark Elves, the World of the Dwarves, the Land of the Giants.
Fairy Cat :2023 the most popular crypto game  fairy cat  is a sub-project of the "Help Every Stray Cat in the World" project initiated by Rock, a Japanese cat lover, and developed by Qiya Game Studio team as a breeding blockchain game. In F-Cat , you can let your cat find treasures for you, and these treasures will become your assets in Fairy Cat , and your assets can be exchanged for dollars. All profits from the project will be used to rescue street cats, buy cat food and provide cat nests for them, under the supervision and control of each player. Gameplay Find the treasure Choose an Elf Cat that is suitable for you in Fairy Cat , it will find treasures for you every day, you only need to use - energy to exchange these treasures with it, each person can adopt up to 10 Elf Cats, each Elf Cat can be upgraded to level 5, different levels of Elf Cats can find different value of treasures.
cartoon pictures of apes are not worth $125k+ each, no matter how much you spin and hype the product.
Install Our App
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.