The Bored Ape Yacht Club has made a resounding comeback from a temporary dip in the NFT market following a recent spate of high-value purchases from the sought-after ‘Trippy Fur’ trait collection.
The ‘Trippy Fur’ trait – which features an ape sporting a psychedelic fur pattern – has become one of the most valuable in the entire Bored Ape Yacht Club (BAYC) collection due to its dazzling aesthetics and the rare and scarce nature of the trait.
The astonishing – and somewhat memetic – 696.969 ETH ($2.8m) sale of Bored Ape #8585 kickstarted the flurry of collector interest in ‘Trippy Fur’ apes on October 20th.
https://twitter.com/boredapebot/status/1450602097829941248
Following the sale of BAYC #8585, five further high-profile purchases have been made from the ‘Trippy’ collection in the past five days for a collective 851.488 ETH ($3.5m).
The highest ever sale for a BAYC NFT so far stands at 769 ETH ($3.18m), which interestingly was a ‘Trippy Fur’ ape with only four traits – Bored Ape #2087.
For collectors, another highly desirable aspect of an NFT is a low trait count. A vast majority of the rarest BAYC NFTs available have four traits, which explains the incredible price tag warranted for the record-breaking ape.
Members of the BAYC community marked the most recent sale of a ‘Trippy Fur’ Ape, Bored Ape #8295, on Twitter with comments such as “Trippy szn” and “Trippy’s on 🔥“.
The spike of interest in ‘Trippy’ apes has also spurred on a flurry of volume into the entire collection.
Data from OpenSea shows that BAYC has seen an 83% increase in trading volume in the past 7 days following a pullback in NFTs due to Ethereum’s pursuit of a new all-time high.
Disclaimer: The views and opinions expressed by the author should not be considered as financial advice. We do not give advice on financial products.