The Bored Ape Yacht Club (BAYC) NFTs have touched a new record high floor price. According to NFT Price Floor, one BAYC NFT would now cost around 154 ETH (CRYPTO: Ethereum), over $430,000.
The floor price for a BAYC was at 123 ETH a week ago at about $367,000. The cost of ETH has been down about 5% over the past week.
The BAYC creator Yuga Labs is expected to launch a new collection for its metaverse project, dubbed Otherside, on Saturday.
The adventure begins. Otherside. 4/30, 12pm ET.
— OthersideMeta (@OthersideMeta) April 23, 2022
Yuga Labs has mentioned that BAYC and Mutant Ape Yacht Club NFT owners will be able to claim an NFT for Otherside within 21 days of the initial mint.
Otherside will sell Otherdeed NFTs at a flat minting price of 305 ApeCoin, and it aims to sell 55,000 Otherdeed NFTs to begin with.
The sale will generate 16.775 million APE, if every NFT sells out, thus generating nearly $378 million in the process.
The BAYC NFTs were launched in 2021 for 0.08 ETH each, around $200. Yuga Labs recently hit a valuation of $4 billion in a seed round worth $450 million.
It has also acquired the IP rights to the popular CryptoPunks and Meebits collections from their original creator, Larva Labs.
The NFT collection has gained massive popularity, with top celebrities making apes their profile picture on Twitter.
According to CryptoSlam, the BAYC collection has seen nearly $2 billion in total sales volume.
Photo: Courtesy of opensea.io