NFT Collector’s Bored Ape Exodus: A Jaw-Dropping $3 Million Fire Sale

April 20, 2023

By Murtuza Merchant

Prominent Bored Ape Yacht Club collector, recognized as @franklinisbored on Twitter, revealed that they have sold a significant number of non-fungible tokens from the elite Yuga Labs collection.

The Block Research verified that @franklinisbored sold a total of 27 Bored Ape NFTs for 1,439 ETH, which is nearly $3 million. 

According to The Block Research, the NFTs were sold at an average price of 55.29 ETH or approximately $110,000 per Bored Ape. The recent Shapella upgrade has contributed to the rising price of ether.

@Franklinisbored shared the news on Twitter, where they boast over 163,000 followers.

“Due to an unfortunate [in real life] issue, I have had to sell off a lot of BAYC apes to pay off BendDAO loans while the liquidity was available,” they stated. “I won’t get involved in NFT trading/twitter for a while, and will just focus on my private life for the time being with my remaining apes.”

The Block Research reported that the prominent NFT investor may now only possess two Bored Apes, and the sale caused the collection’s floor price to drop to its lowest point in five months.

BendDAO functions as a non-fungible token lending platform, allowing lenders to deposit ether and earn interest. 

Meanwhile, borrowers can secure loans by using their NFTs as collateral.

About the author

Murtuza Merchant is a senior journalist and an avid follower of blockchain and cryptocurrencies.

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