Yuga Labs, owner of monkey NFTs, begins collecting the world’s most expensive collections

How much does Monkey NFT cost? Find out all about the coin Neymar bought The company announced Friday the 11th of the acquisitions of the CryptoPunks and Meebits brands, which have the best-selling collections of non-fungus tokens under their management.

NFT Monkey bought by Neymar

Yuga Labs owner of monkey NFTs begins collecting the worlds most expensive collections

A lot has been said about monkey NFT at the beginning of the year. This was because Neymar distributed 350 ETH (Ethereum) for the digital asset with this theme at OpenSea.

Speaking in traditional currency: about US$1.1 million, which was equivalent to about R$6 million at the time of purchase.

The tokens are part of a collection called ‘Bored Ape Yacht Club’ (BAYC) – Bored Monkey Yacht Club in free translation.

But now, the ace has decided to invest in NFT again. The new asset is a replica of the Mutant Ape Yacht Club collection derived from the Bored Ape Yacht Club.

The amount paid was 55 ETH, which is roughly R$790,000 at the current price.

What is NFT Monkey?

The Bored Ape Yacht Club (BAYC) is a collection of 10,000 unique digital artworks of “bored monkeys”, hence the name “monkey NFT”. He became even more famous after the acquisition of the football star.

Arts draws drawings of the animal generated by a randomization algorithm. In this way, each NFT has its own characteristics: colors, clothing and accessories.

Some markers (some of these combinations of traits) are more common and others are more rare or unique. This, of course, makes these combinations even more expensive.

The project is based on the Ethereum (ETH) blockchain and is considered one of the most “premium” NFTs on the market.

In addition to the character’s commercial rights, Neymar has exclusive access to both physical and digital events as he owns the token.

What is the value of Monkey NFT?

Brazilian star Neymar Júnior bombed 350 Ethereum in exchange for two coins. That is, at the price at the time (February 2021) about 1.1 million US dollars.

One of the 5269 tokens cost 189.69 Ethereum. That’s about $537k.

The cheapest asset numbered 6633 was 159.99 ETH, which represents US$452k.

However, as explained above, another asset from the same collection can be even more expensive depending on its rarity. In November, the monkey’s NFT was sold for $2.7 million.

According to the OpenSea marketplace, the current minimum price for “Bored Monkeys” collectible tokens is 67 ether. That’s about $250,000.

Later, celebrities such as singer Justin Bieber, rappers Snoop Dogg and Eminem, basketball player Stephen Curry and tennis player Serena Williams joined the Bored Ape Yacht “club”.

Yuga Labs orbit

Yuga Labs owner of monkey NFTs begins collecting the worlds most expensive collections

In recent months the celebrity world has been invaded by monkey NFTs. On January 20, 2022, football player Neymar replaced his profile picture on a social network with a monkey gum. At that time, the purchase was valued at approximately US$517,000, or US$2.7 million. Singer Justin Bieber has also embraced digital art in his profile.

Gargamel, Gordon, Tomato and Sass told CNN Brasil Business that they were shocked when celebrities started buying their digital art. “It’s really cool to see something that started so small become something that people are excited about.”

“There are many artists who value being on the cusp of new cultural waves, so it’s not surprising that they [buyed NFTs].”

As of press time, the company had no new digital art for sale, but it was possible to purchase NFTs from other owners for prices ranging from $230 to $2.6 billion. It is worth remembering that the owners stipulate the value at which they intend to sell their assets.

And with that, Yuga Labs, the company behind the designs, has seen its tokens fall into the group of the world’s most expensive collectibles. With just one year of operation, the company has already sold around 10,000 NFTs and posted a gross profit of about $1 billion, given the price of ethereum on Monday (14) was $2,575.

Monkeys feature in digital pieces as they are known by the crypto community as a symbol of people who get into cryptocurrencies and other industry projects head-on, often without due diligence.

The idea for the project began on February 6, 2021, when Gordon sent Gargamel a message asking if he knew JavaScript (a programming language used to implement complex elements on the internet).

However, the two of them did not have the technical skills to engage in technology. They were joined by two of Gargamel’s engineering friends: Zeshan, named Sass, and Kerem, nicknamed Tomato.

At that time, a team of freelance illustrators and designers created the first collection for their friends, called Bored Ape Yacht Club. On April 23, 2021, there were approximately 500 monkeys all sold.

About a year ago the average cost of building an NFT was 0.08H, or about $200.

Gargamel, Gordon, Tomato, and Sass chose this technology because NFTs are as unique as fingerprints. And they serve as an authentication tool.

“I felt like a new wave of culture was coming along with the digital arts, and we wanted to be a part of it,” the Yuga Labs team said in an interview with CNN Brasil Business.

In May, another 9,500 monkeys were bred overnight, and the collection was sold out in the early morning of the same day. Bored Ape Yacht Club was the most operated smart contract on the ethereum network during the month.

Among all the clients, some celebrities such as NBA player Stephen Cury, American presenter Jimmy Fallon, rapper Post Malone and other celebrities joined the list of digital art buyers from Yuga Labs.

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