Yesterday, the floor price of Bored Ape Yacht Club (BAYC) NFTs hit a new record high on. This came as Yuga Labs, its creator, readies to release a new collection for its metaverse project, known as Otherside.
Yuga Labs has witnessed an astronomic growth since the release of its Bored Apes collection. The value of the company was pinned at $4 billion during a recent valuation. This came as the company went through a seed round worth $450 million.
The Price of Bored Ape hit record high in ETH and USD
At the moment a BAYC NFT goes for a minimum of 152 ETH (nearly $434,000) on the NFT marketplace OpenSea. According to data from Dune Analytics this price represents a new all-time high in both ETH and USD.
The BAYC NFTs were released about one year ago for 0.08 ETH each (about $200). The current floor price means that early birds are now sitting on fortune from the 216,900% increase in dollar terms.
The BAYC collection has seen total sales volume of nearly $2 billion to date, according to data from CryptoSlam. Riding on the success of the Bored Apes, Yuga also created the Mutant Ape Yacht Club and Bored Ape Kennel Club NFT collections. These later collections have seen sales volume of over $1.3 billion and $312 million respectively.
Yuga Labs also recently acquired CryptoPunks and Meebits from Larva Labs and these two have seen a total combined sales volume of $2.7 billion to date.
Yuga Labs To Launch Other Projects
Yuga’s latest project Otherside, will be launch on Saturday with a sale of Otherdeed NFTs at a flat minting price of 305 ApeCoin (currently worth around $6,660). The company plans to sell a total of 55,000 Otherdeed NFTs to wallets that have passed know-your-customer checks. Yuga Labs will make an approximate $363 million if it sells out all the pieces in this collection, which would be the highest sales for an NFT project to date.
Yuga Labs was created by a team of four pseudonymous people: Gargamel, Gordon Goner, Emperor Tomato Ketchup and No Sass. Earlier this year, BuzzFeed News disclosed the identities of Gargamel and Gordon Goner’s identities as Greg Solano and Wylie Aronow. Yuga Labs later confirmed the identities — while Tomato Ketchup and No Sass revealed their names as Kerem and Zeshan.