The now famous mutant evolutions of the Bored Ape Yacht Club non-fungible tokens (NFTs) have been very successful in late December. The bottom price now seems to be stabilizing around $30,000.
Mutant Bored Apes are getting attention
Since their debut in April, Bored Ape Yacht Club (BAYC) non-fungible tokens (NFTs) continue to surprise more and more.
With a low price of $251,472 (or 76ETH), at the time of writing, and a market cap of a whopping $2,514,726,242 (equivalent to 760,885 ETH), they have recently surpassed the historic NFTs CryptoPunks.
But this month, it’s their mutant evolutions that have captured the attention of collectors, most notably with Ethereum blockchain co-founder Taylor Gerring’s acquisition of a “mutant serum” for $3.5 million.
This serum allows a classic NFT Bored Ape to be transformed into a rarer model with its own specific attributes. 10,000 of these serums were distributed when they were released, but some of them are still for sale, with three types of rarity possible.
Sales volume of M1 mutant serums since their release (Source: Dune Analytics)
As we can see from this graph, mutant serums are trading as heavily today as they were when they were released in August.
With one major difference: the price. It has increased by 5 times in the last few days compared to the release price.
Sales are soaring
Currently, 3 of the top 5 NFT projects are owned by Yuga Lags, the originator of the Bored Ape Yacht Club and its various evolutions.
The CryptoPunks project has slipped to sixth place.
Ranking of the different NFT projects by 24h sales volume (Source: CryptoSlam)
The most impressive development took place from December 10 to December 24. The price of an NFT Bored Ape Mutant rose from $21,900 to over $32,965, a 50% increase over ten days.
Floor price of Mutant BAYC from release to today (Source: CoinGecko)
Sales volume started to climb on December 20 and peaked on December 26 with a value of $22,484,563, an increase of 1075% within 6 days.
The next day, the trend went back down, with a volume of $9,716,715.
Mutant Ape sales volume from release to present (Source: CryptoSlam)
NFTs take centre stage
With several announcements recently, such as the 2.0 roadmap or their exclusive token planned for 2022, Bored Ape are well on their way to continue being the major project in the relatively young ecosystem of non-fungible tokens (NFTs).
But it is the NFTs projects as a whole that seem to be growing in popularity.
Indeed, the number of users of OpenSea, the main NFT exchange platform, exploded during the middle of the year. As of December 30, more than 890,000 people have made at least one transaction on their site.
Total number of OpenSea users from July 2018 to present (Source: Dune Analytics)
The number of monthly active users on the NFTs platform has never been greater than in the last month of 2021, reaching 350,000, the most active period on record.
These figures show a growing public interest in the NFTs market, which does not seem to be waning any time soon.
