News hardware He takes out a loan to buy an NFT for 1.3 million euros
While the value of a majority of NFTs has largely been revised downwards since the speculative peak last January, some seem to have been spared by the crisis. A collector recently took out a loan of up to 1.3 million euros in order to obtain an extremely rare NFT Mutant Ape from the famous studio Yuga Labs.
A very rare Mutant Ape Yacht club (MAYC) sold for 1.3 million euros
While the entire NFT sector is struggling to regain interest, Yuga Labs’ avatar collections are recording massive sales. Last week, an NFT from the Mutant Ape Yacht Club (MAYC) collection sold for 1.3 million euros.
Mutant Ape Yacht Club is in a way an annex series of the famous collection of monkeys of the Bored Ape Yacht Club (BAYC), popular in showbiz. This continuity of the project was able to generate a similar enthusiasm to the previous collection. Despite the fall in prices, a common Mutant Ape is worth around 15.6 eth, or €20,000 at current prices.
So why did a collector by the name of fragment.xyz recently buy an NFT from the collection for 65 times more than the floor price?
Limited to 20,000 avatars, half of the mutant collection was generated by exposing his Bored Ape to 3 types of serums. Once the serum was used, Bored Ape owners were given an NFT Mutant Ape with more or less rare accessories:
- The M1 (common)
- The M2 (rare)
- The M3 (Mega)
This new insane sale concerns precisely a Mutant Ape M3: Mega Noise (#30003). These very rare NFTs from the collection feature 12 monkeys with unique attributes. The sale therefore closes the discovery of these famous Mega Mutants.
A Mega ready for an NFT in times of crisis
The mysterious collector fragment.xyz hasn’t closed the whole sale, however… Firstly, under this name, hides in reality a company of three people specialized in the collection of NFT and in the “metaverse”.
In order to obtain Mega Noise, the company resorted to a loan of 1,000 ETH, or 1.3 million euros. In the art sector in the form of non-fungible tokens, this kind of practice is recurrent – the unpaid almost cost the market dearly last August.
As collateral, fragment.xyz have put their other two Mega Mutant Apes into play. If they do not repay the loan within 90 days, they will lose their NFTs of equivalent value. Indeed, the Opensea account (NFT platform) of collectors already contains 3 Mutant Ape Mega. With this new purchase, fragment.xyz now owns 1/3 of these “Mega rare” Mutants.
This new record confirms collectors’ interest in the Yuga Labs studio – the source of the most popular NFT collections (BAYC, cryptopunks, etc.). These continue to record exceptional sales records, regardless of the decline in enthusiasm around the market.