Bored Ape<\/a> NFT Sells for 153 ETH Just 11 Months After 777 ETH Purchase \u2013 Seller Loses 80%<\/p>\n A Bored Ape Yacht Club (BAYC<\/a>) NFT that was the most valuable Trippy Bored Ape on record when it sold for 777 ETH in November 2022 has exchanged hands for 153 ETH.<\/strong><\/p>\n Thanks to rare attributes, including trippy fur and a gold crown, BAYC #8585 holds the title of the most expensive \u2018Trippy\u2019 BAYC ever sold, valued at 777 ETH in October 2022. However, the latest trade represents a significant loss for the seller.<\/p>\n In Ethereum value, the latest sale represents an 80% markdown on the NFT\u2019s previous price. Even taking into account gains in the crypto market since last year, the NFT is still worth just a quarter of its previous value in dollars.<\/p>\n The #8585 \u2018Trippy\u2019 bored Ape still holds the highest sale price in its fur category \u2013 and currently shares fifth spot with the most expensive Bored Ape sale according to OpenSea<\/a>. <\/p>\n However, just eleven months after the previous buyer forked out over $1 million for the NFT, it was sold at a 75% loss. <\/p>\n According to NFTGo<\/a>, the sale occurred on Sunday morning on the X2Y2 marketplace.<\/p>\n A look at the wallet<\/a> of the new owner reveals them to be an avid NFT collector. Their portfolio includes 176 NFTs from 15 collections. After their latest purchase, they now own six BAYC NFTs. The same wallet<\/a> also holds three CryptoPunks.<\/p>\n Although not the largest NFT marketplace<\/a> by trade volume, X2Y2 offers one major advantage for traders: zero compulsory royalty fees.<\/p>\n In fact, the rise of royalty-free marketplaces has been felt across the NFT ecosystem. And this week, one of the largest trading platforms, OpenSea<\/a>, announced that it would ditch compulsory creator fees<\/a>.<\/p>\n In response, Yuga Labs, which created the BAYC collection, said it would pull its support for OpenSea.\u00a0<\/p>\n The company intends to prevent its new collections from being listed on OpenSea. Where possible, it will also upgrade existing NFT contracts to prevent royalty-free listings.<\/p>\n How effective Yuga\u2019s proposed strategy remains to be seen. And unlike some of its other collections, it won\u2019t be possible to change to the BAYC contract to prevent listing on marketplaces that don\u2019t enforce creator fees.<\/p>\n Unfortunately for the company, that means one of its most important revenue streams is at risk of drying up.<\/p>\nTrader Takes 624 ETH Loss on One of the Most Valuable BAYC\u00a0NFTs<\/h2>\n
Yuga Labs Loses Out as BAYC Collectors Save on Royalty Fees<\/h2>\n
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