The Cheapest Bored Ape NFT Costs $429,000: Analysis

The cheapest bored ape NFT costs $429,000 or 152 ETH as the launch of the Otherdeeds metaverse seems to have triggered the NFT price spike which is now the floor price so let’s read more today in our latest altcoin news today.

The launch of the Otherdeeds metaverse triggered the BAYC NFT price surge which is the floor price. As per the NFT Price Floor, the BAYC NFT is the highest floor price so far in USD and ETH but the floor price for the said NFT was higher a week ago with the price being capped at $367,000 and it is now down for about 5% compared to last week.

The cheapest Bored Ape NFT costs about 152 ETH today and Yuga Labs posted that the BAYC together with Mutant Ape Yacht Club NFT owners will be eligible to receive the NFTs for Otherside in 21 days following the official launch and Otheredeeds are in the form of virtual land which can be found in Otherside. About 55,000 NFT Otherdeeds are preparing to be sold and released to the public specifically for the wallet owners that finished off the KYC checks and conducted the past few weeks over the teaser website that was crated for Otherside.

The NFT Otherdeeds will go up for sale for 305 aPE each or about $6800 to date. Apecoin is the token based on the Bored Ape Yacht Club NFT. With the current value of Apecoin considering that the NFs will be sold out and the total sales will be around 16,775 million or around $378 million. All in all, the BAYC NFT collectibles amassed the tradign volume of $3.75 billion. Bored ape Yacht Club NFT owners were getting strong benefits from the proejct since the launch in 2021 and started at about 0.08 ETH or under $200 at press time. The Kennel Club and Mutant Ape Yacht Club will receive both Otherdeed NFT and Apecoin bounties at zero costs.

The bored ape NFTs climbed which also increased the demand in the NFT market and more so, the owners of the Bored Ape can use their IP Rights for the Ape image of their individual brands or the projects. Yuga Labs has a total value of $4 billion after pooling funds of over $450 million from various celebrities and crypto companies. The startup obtained the IP rights to Meebits and CryptoPunks from Larva Labs and acquired the properties with most others featured in Otherside, a proejct in collaboration with Animoca Brands.