Out of all the NFTs, monkey NFTs seem to be the most popular. It may be hard to understand why they are popular, considering how expensive they are.
However, according to Zipmex, people love the monkey NFTs because they allow them a chance to mingle with celebrities. When you own a monkey NFT, you will be granted access to an exclusive Discord that includes celebrities. Besides interacting with celebrities, you will gain access to other NFT collections.
Monkey NFTs are made by Bored Ape Yacht Club (BAYC) for those not in the know. There are about 10,000 of them, and each depicts an expressionless monkey. Although the blank look is consistent with the monkey, the clothing and headgear are not.
Like most NFTs, the monkey NFTs are part of the Ethereum blockchain, the second-largest cryptocurrency after Bitcoin. By this point, you now know what monkey NFTs are. We established how expensive they are, so we need to identify some of the most expensive ones. Here are the five most expensive monkey NFTs you can buy.
5. Bored Ape Yacht Club #5199 ($1,611,272)
"The Terminator" is the first thing that will come to your mind when looking at this NFT. In this NFT, the monkey is depicted with robotic fur and cyborg eyes which are traits that make it naturally intimidating.
It is one of the few NFTs with only four traits, yet it manages to be pricey. Even now, nobody can tell you why it is expensive. However, its trait combinations are the most sought after, which could explain its high cost.
To explain its demand, we can talk about when it was sold. Initially, you could buy this NFT for 5 ETH or $14,000, but its selling price has since increased. It was bought for 425 ETH which culminated in a profit of $1.5 million for BAYC. It was this particular sale that increased demand for the monkey NFTs.
4. Bored Ape #1606 ($708,000)
Quite a number of traits can be identified from this NFT. In this NFT, the monkey is wearing outfits you would consider trendy. First, it is dressed in a furry pink coat and a brim hat, making it resemble a hip-hop artist. Other attributes of the ape are its unshaven face and its laser-shooting eyes.
The ape shooting lasers seems out of place until you realize the ape's placement against the army green backdrop. Perhaps, it is fighting in the army. Its initial selling price was $61,000.
The selling price increased to $708,000 after being sold at an auction. The latter amount represented a fraction of BAYC's overall market cap of over $500 million. With such massive profits, BAYC donated part of its funds to charity. The company donated $208,000 (or 66.45 ETH) to the Orangutan Outreach charity in August 2021.
3. Bored Ape Yacht Club #7090 ($2,272,620)
With most monkey NFTs, the bored expression of the apes is what we have come to expect. However, in this NFT, the monkey grins, which is not exactly a facial expression you would associate with boredom.
Its teeth are multicolored, which is a rare trait. Another rare trait of this NFT is the monkey's golden fur and its red service uniform. All these traits contribute to this NFT's rarity score of 250.33.
The sale of this NFT is fascinating since it was previously purchased for 199 Ether or $563,000. It was only held for a month before selling at 600 ETH or $2.25 million.
This sale established a new high for BAYC since this NFT became one of the most expensive NFTs ever bought. As a result, the company made a massive profit of 303%, or a $1.69 million return within a month.
2. Bored Ape Yacht Club #2087 ($2,307,638)
By looking at this NFT, you will feel that you are on some psychedelic drugs. The ape on this NFT has rainbow-colored fur, which gives it that hallucinogenic effect. Next, the monkey has a cigarette in its mouth and has angry-looking eyes. Its angry expression is a welcome change, especially for those who resent the expressionless-looking monkey.
This NFT manages to do more, using only four traits. As a result, people are drawn to this NFT due to its simplicity. It was originally sold for just $229 (0.08 ETH) and then sold for $2.3 million (769 ETH) five months later.
When it sold for the latter price, the buyer remained anonymous. As a result, this sale made people more curious about who the buyer was, considering that it was one of the most expensive NFTs ever to be sold. Hip-hop artist Snoop Dogg, a collector of NFTs, was thought to be the buyer, but the buyer's identity is yet to be revealed.
1. Bored Ape #8817 ($3,408,000)
This NFT is considered attractive due to its unique combination of characteristics. The ape on this NFT has gold fur and is wearing a comical spinner hat, a silver hoop earring, a wool turtleneck, and a party horn in its mouth.
As for its facial expression, it appears sleepy or frustrated. Although this NFT isn't rare, it is listed as the 17th rarest NFT at Rarity Tools. Its combination of certain traits likely makes the NFT appear rare.
As it stands, this NFT is the most expensive one ever sold. It was auctioned off at a renowned auction house called Sotheby's Metaverse, and its winning bid was $3.4 million (852.39 ETH). Which NFT do you think will surpass this one as the most expensive? We can only wait and see.
Of all the cryptocurrencies out there, monkey NFTs are still the least understood. The first thing on people's minds is why someone would buy a picture of an ape so expensively.
However, those who buy them liken it to buying a painting from a museum. Like those paintings, monkey NFTs are rare, which leads to their high prices. So, you are probably wondering whether they are good investments.
It is hard to predict what will happen when you invest with cryptocurrencies since they are volatile. However, when the monkey NFTs become popular, they will even be more expensive. So, those who have already collected the NFTs will have the upper hand since they acquired them cheaply.
Written by Dana Hanson
Read more posts by Dana Hanson