NFTs Bored Apes and Mutant Apes kick off 2022 on a high with floor prices jumping more than 40%

• Sales of Bored Ape and Mutant Ape Yacht Club jumped by millions in terms of trading volumes of the past one week.
• Even the cheapest Mutant Ape NFT is now thrice as expensive as compared to a week ago.
• The surge in volume and floor prices came after rapper Eminem bought a Bored Ape NFT, leading many others to discover the project.

Non-fungible tokens (NFTs) are entering 2022 the way they did in 2021 – on a high.

Sales of two of the top NFT projects, the Bored Ape Yacht Club (BAYC) and the Mutant Ape Yacht Club (MAYC), skyrocketed over the weekend after rapper Eminem revealed that he had bought a BAYC NFT. He picked up Bored Ape #9055 for 123.45 Ether (ETH), which comes up to around $452,000 at the time of settlement.


BAYC and MAYC are currently topping the charts on blockchain research platform DappRadar and many others. According to DappRadar, seven-day volumes for the two projects stood at $93.2 million and $82.39 million, respectively. While BAYC jumped over 60%, MAYC jumped by a whopping 160.96% over the past seven days.

As a result, even the cheapest Mutant Ape NFTs are now thrice the price. And, the floor prices of Bored Ape NFTs have jumped 46%.

What are the Bored Ape and Mutant Ape Yacht Clubs?

The BAYC project consists of 10,000 unique NFTs, which are held in over 6000 wallet addresses right now. According to Bitcoin.com, a single Ethereum address held “roughly 105” BAYC NFTs.

MAYC, on the other hand, consists of double the number of NFTs and are said to be ‘mutant versions’ of the Bored Apes on BAYC. At the end of the day though, both are simply avatars that you can use online. MAYC had over 2000 traders over the past seven days.

Going beyond simply NFT trades

Aside from their high trading volumes, projects like BAYC, MAYC, Cryptopunks and more have become integral to the growth of NFTs. While these NFTs don’t have a lot in terms of use cases right now, brands have started taking note.

BAYC, for instance, has partnered with footwear giant Adidas for a campaign. Brands like Nike and Adidas are expecting to sell digital shoes and sportswear in future metaverse, and NFTs are the way to do that. The Bored Apes also made it to the cover of Rolling Stone Magazine.

BAYC is so popular that it has even led to spin-offs and fakes. On December 30, NFT marketplace OpenSea banned a project called Phunky Ape Yacht Club (PAYC), which sells NFTs that are identical to the ones in BAYC but mirrored.

SEE ALSO:
The top 5 wildest crypto moments of 2021
Cryptocurrency New Year’s resolutions