The valuation of Bored Ape NFTs is pumping on rumors of a BAYC metaverse land drop. The new BAYC ATH floor price is 124 ETH on Opensea.
The total volume traded also passed a milestone of half a million Ether. In the last 7 days the sales volume exceeded 10,000 ETH.
The speculation from popular NFT influencers on social media is that BAYC NFT owners will receive an airdrop of virtual land in the upcoming metaverse to be built by Yuga Labs, the creators of BAYC. Watch a teaser trailer of their ‘Otherside’ metaverse here.
So if any BAYC holders were planning on selling and taking profit, that’s another reason not to.
Governance token of that metaverse ApeCoin (APE) which was first airdropped to Bored Ape owners, also pumped to revisit the $17 level.
BAYC Road to All Time High
The first price of a Bored Ape NFT was their initial mint price of 0.08 ETH at presale in April of 2021.
The collection of 10,000 BAYC NFTs quickly sold out at and hit a double digits floor price by mid 2021, then over 50 ETH by the end of the year.
BAYC floor price history via Coingecko
In early 2022 the BAYC floor price pumped past 100 ETH for the first time, before correcting over 30% alongside Bitcoin, Ethereum and the total cryptocurrency market cap undergoing a downtrend from their all time high hit in November 2021.
Holders with diamond hands were rewarded however as the Bored Ape floor price didn’t crash as much as crypto and put in a strong bounce to recover sooner, helped by news of the planned BAYC metaverse.
The new Bored Ape all-time high floor today of 124 ETH is about 100% higher than the 2022 open.
Based on the $3,100 Ethereum price, that means the cheapest price any Bored Ape NFT can be bought for at the current exchange rate is over $385,000. This solidifies their position as the #1 rated NFT collection in terms of floor price and floor cap.
Anyone who minted a Bored Ape and held since day one to today’s all time high is up 155,000 percent on their investment.
Some investors have an even higher ROI as rare Bored Apes have sold for seven figures. The most expensive sale was Bored Ape #2087 for $2.3 million USD. Justin Bieber famously bought a Bored Ape for $1.3 million.
BAYC’s closest competitors are the Mutant Ape Yacht Club with a 32 ETH floor, also owned by Yuga Labs, and the CryptoPunks with a 58 ETH floor, recently acquired by Yuga Labs from Larva Labs.
The Bored Ape Kennel Club is also up over 5% in the last 24 hours, with a floor price around 9 ETH not far off its previous all time high of 11 ETH.
Cryptoassets are a highly volatile unregulated investment product.