The sales of non-fungible tokens (NFTs) have surpassed estimates on numerous occasions, and this time it is at Sotheby's
The collection of Bored Ape NFTs has surpassed sale estimates on Sotheby's. The auction house revealed that the current bid has already surpassed their estimate, with two more days to go until the auction comes to a close.
The Bored Ape Yacht Club collection contains 101 NFTs, and the leading bid for them is already more than the estimates. According to Sotheby's auction house, the collection of apes showcasing laser eyes, diamond teeth and trippy fur has a bid of $19 million. The amount is well ahead of the $12 million to $18 million range initially set by Sotheby's ahead of the auction.
The auction still has two more days to go as it is expected to close on 9 September at 2:01 PM UTC. At the moment, Bored Ape NFTs have a floor price of 41.85 ETH ($158,000) on OpenSea, meaning a collection of 101 of these NFTs might reasonably be valued at $16 million, which falls within the estimate range provided by Sotheby’s. However, the collection being auctioned on Sotheby’s contains a few rare apes, potentially increasing the value.
The rare apes include four apes with trippy fur and three apes with solid gold fur. The collection also includes four unshaven apes with bored expressions, dangling pizza out of their mouths. Sotheby's is one of the leading auction houses to adopt NFTs in recent months.
The auction house has sold numerous NFTs over the past few months and is not the only auction house to do so. Christie’s has also joined the NFT space, facilitating the sales of digital art including the popular and record-breaking $69 million Beeple NFT.
The popularity of NFTs has been massive in the past year, with the digital art gaining adoption from popular celebrities, media companies, sports leagues and more. Visa, one of the leading payments companies in the world, recently bought a CryptoPunk NFT for $150,000. Market experts expect more companies to enter the NFT game.