Tag: Bored Ape NFT

Bored Ape’s New Boss Seeks to Revive NFTs Through Gaming, Events
28Apr By adminNo Comments
Technology

Bored Ape’s New Boss Seeks to Revive NFTs Through Gaming, Events

[ad_1] Yuga Labs Inc. helped popularize nonfungible tokens with its Bored Ape Yacht Club collection, first introduced two years ago. The cartoon illustrations of slack-jawed primates, decorated with various accessories and expressions, sold for millions of dollars at the peak of the NFT frenzy last year. Now the bloom is firmly off the NFT rose, as it is with most things linked to cryptocurrencies these days. But for Daniel Alegre, the former Activision Blizzard Inc. executive who joined Yuga as chief executive officer last month, NFTs still have a bright future by serving as a room key to a world of gaming, events and e-commerce. The company, whose 100 employees all work remotely, began its expansion into video games last year, developing time-limited titles such as Dookey Dash and in...
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Bored Ape NFTs Sale Scores Former Junk Bond Traders 700% Profit
24Feb By adminNo Comments
Technology

Bored Ape NFTs Sale Scores Former Junk Bond Traders 700% Profit

[ad_1] Former Barclays Plc bond traders Ovie Faruq and Mike Anderson have sold a collection of iconic digital art that triggered their departure from banking and their pursuit of careers in nonfungible tokens. Faruq and Anderson sold 72 Bored Ape Yacht Club NFTs for between 78.08 and 78.18 Ether each this week, which translates to roughly $9.25 million, according to transactions recorded on NFT marketplace OpenSea. Faruq said the initial investment was around $1.14 million, which would make for at least 700% profit. NFTs, digital art that typically uses the Ethereum blockchain and is bought and sold with cryptocurrency Ether, saw their value soar in early 2022 during the height of crypto mania before a sharp selloff. However, this year's rally in risky assets has seen Bitcoin rise...
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Cryptoverse: Punk apes and a resurrection of NFTs
15Feb By adminNo Comments
Technology

Cryptoverse: Punk apes and a resurrection of NFTs

[ad_1] It's alive! The NFT market is twitching out of its torpor, defying reports of its demise.Total NFT sales on the ethereum blockchain - which hosts most trading - jumped to $780.2 million in January from $546.9 million the month before, according to market tracker CryptoSlam. Digital art collectibles were among the big hits. "Bored Ape Yacht Club #5840" - a cartoon monkey shooting green lasers from its eyes - went for $822,730, for example, while "CryptoPunks #7674" - a pixelated character smoking a pipe - fetched $433,555. The average NFT sale price was a more modest $372.38, according to CryptoSlam.The $780 million of sales seen last month is a fraction of the roughly $5 billion seen last January and $2.7 billion in May, before the market took a non-fungible nosedive along with ...
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Bored Ape NFT Investors Suing Justin Bieber, Madonna, Paris Hilton
13Dec By adminNo Comments
Technology

Bored Ape NFT Investors Suing Justin Bieber, Madonna, Paris Hilton

[ad_1] The creator of the popular Bored Ape Yacht Club collection of NFTs and its promoters, including Madonna, Paris Hilton and Justin Bieber, were sued by investors. The creator of the popular Bored Ape Yacht Club collection of NFTs and its promoters, including Madonna, Paris Hilton and Justin Bieber, were sued by investors claiming they were duped into buying the collectibles by celebrities who didn't disclose they were paid to pump sales. Yuga Labs Inc., the blockchain start-up behind Bored Ape Yacht Club, Hollywood agent Guy Oseary and MoonPay USA LLC, a company controlled by Oseary, were accused in the proposed class-action lawsuit of leveraging their network of A-list musicians, athletes and celebrities to misleadingly promote and sell Yuga financial products. The “promoti...
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