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Last year, they spent 777 ETH to acquire a rare Bored Ape Yacht Club NFT, but the current owner is selling it for 153 ETH to cut losses.

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Last year, they spent 777 ETH to acquire a rare Bored Ape Yacht Club NFT, but the current owner is selling it for 153 ETH to cut losses.

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Bored Ape Yacht Club (BAYC) #8585 Sold at a Loss

According to NFTGo and on-chain data, the owner of BAYC #8585 sold the NFT at a loss of nearly 80% after holding it for almost a year:

  • Purchase Price: 777 ETH

  • Selling Price: 153 ETH

  • Total Loss: 624 ETH

  • Hold Period: 322 days (2022/10/2~2023/8/20)

#8585, known for its rare attributes like the Trippy skin and King's Crown, which account for only 0.77% of the collection, is considered one of the most expensive Trippy series Bored Ape.

Will NFT Whale Bet on Bored Ape Again?

The buyer of BAYC #8585 is a whale with the address 0x666, who holds a total of 176 NFTs, including:

  1. BAYC #7090: 800 ETH spent

  2. BAYC #4980: 530 ETH

  3. Azuki #4666: 235 ETH

  4. CryptoPunk #4608: 220 ETH

  5. Azuki #9185: 200 ETH

  6. Azuki #5070: 189 ETH

  7. Azuki #6954: 170 ETH

  8. BAYC #7403: 165 ETH

According to NFTGo data, #8585 is only ranked ninth in terms of purchase price in his wallet, and he also holds a large amount of Azuki and the new project "Azuki Elementals," showing little concern for the recent downturn in the NFT market.

The previous owner who sold #8585, 0x269351, had transferred #8585 multiple times after the initial purchase, and it seems that 0x269351 is not their main address either.

Recently, OpenSea announced the discontinuation of mandatory creator royalties, prompting dissatisfaction from Bored Ape developer Yuga Labs, who stated that they will gradually withdraw support for updates on the OpenSea platform and plan to exit the market by February next year.

Understanding the Platform Royalty Dispute: OpenSea's Controversial Decision to Stop Mandatory Creator Royalties, Yuga Labs: Will Gradually Exit

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