Bored Ape Yacht Club tokens recently sold for $9.25 million, giving some crypto investors hope for a market revival.
Mohsis Andam
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Some might argue that the popularity of nonfungible tokens faded as quickly as it rose. NFTs boomed in early 2022 when crypto mania was at fever pitch. But a steep decline in sales and prices quickly followed as a crypto winter set in last year and digital asset bankruptcies piled up, culminating with the collapse of crypto exchange FTX. But as we are well into 2023, some crypto traders and NFT owners are cautiously optimistic, eyeing a in Bitcoin.
Former bond traders Ovie Faruq and Mike Anderson recently sold 72 iconic Bored Ape Yacht Club NFTs for around 78 Ether each, which translated to roughly $9.25 million at the time.
Bloomberg reporter Abhinav Ramnarayan and Canary Labs co-founder Ovie Faruq join Bloomberg senior editor Anna Irrera to discuss the ins and outs of trading NFTs.
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This podcast is produced by the Bloomberg Crypto Podcast team: Supervising producer: Vicki Vergolina, Senior Producer: Janet Babin, Producers: Sharon Beriro and Muhammad Farouk, Associate Producers: Mo Andam and Ty Butler. Sound Design/Engineer: Desta Wondirad.
