Ceresion, a decentralized cross-chain ETF Investment Platform, has made a major acquisition: the rights to the NFT series Bored Ape Yacht Club (BAYC) NFT last year in September.
In September 2021 ,the floor price of Bored Ape Yacht Club (BAYC) NFT was worth 39 ETH and Ceresion have bought $10 millions worth of Bored Ape Yacht Club (BAYC) NFT which means they bought around 80 Bored Ape Yacht Club (BAYC) NFT. Today, the price of Bored Ape Yacht Club (BAYC) NFT is worth 149 ETH which means the price of it has increased by around 380%.
Furthermore, an announcement in March 2022 had also stated that a certain quantity of free tokens can be claimed if you have a Bored Ape Yacht Club which Ceresion owns around 80 of them. Each BAYC NFTs received 10,094 tokens worth anywhere from $80,000 to $200,000. The price of ApeCoin (APE) has skyrocketed in anticipation of it being a de-facto payment currency in a forthcoming metaverse land sale.
The owners of the Bored Ape Yacht Club (BAYC) NFTs may acquire virtual lands on Yuga Labs’ much-anticipated “Otherside” metaverse platform, according to a rumor spreading through social media channels since April 18. If this rumor is true then Ceresion will be owning several virtual lands on “Otherside” platform
WHAT IS BORED APE YACHT CLUB?
NFT’s Bored Ape Yacht Club collection is one of the most famous in the world, consisting of 10,000 unique items that live on the Ethereum blockchain. Yuga Labs designed it, and on April 23, 2021, it went on the market. In addition to owning the image rights of the digital token, owners of the NFT’s have access to an online club and private events in the real world. Universal Music recently announced the acquisition of several monkeys to form Kingship, a virtual rock band that might perform its first gigs in the metaverse as soon as this summer.
HOW DO NFT’S ACQUIRE THEIR VALUE?
The heart and value of NFTs resides in the digital certificates that allow the validity of a work to be established, notwithstanding their complexity. The sales of these digital assets are recorded in block chains, or blockchains, which contain information about the piece’s ownership as well as the price and transaction history. The NFTs are distinct in that they are one-of-a-kind, indivisible, transferrable, and can be demonstrated to be scarce. It is necessary to “mint” an NFT, that is, to turn it into a digital asset on the blockchain, which can be done via NFT Marketplaces such as OpenSea, Nifty Gateway, and Rarible.
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