The non-fungible token (NFT) market, once headlined by billions of dollars in investments, is attracting the attention of cryptocurrency investors again after years of downturn. Last weekend, an investor purchased a Bored Ape NFT for over 2.3 million dollars, demonstrating the market's enduring appeal.
According to data from the blockchain data aggregation platform CryptoSlam, the Bored Ape Yacht Club's #7940 NFT was sold on August 1st for $2,348,509, making it the highest-priced NFT transaction of the week.
The Bored Ape Yacht Club, launched by digital asset studio Yuga Labs in 2021, issued a fixed number of 10,000 cartoon monkey image NFTs based on the Ethereum blockchain. Holders not only receive uniquely designed digital assets but also gain access to an exclusive community, participate in events, and enjoy privileges such as derivative NFT collections.
In 2021, fueled by the NFT craze, unique monkey images, a strong sense of community belonging, and celebrity endorsements, the Bored Ape series rose to fame. This high-priced transaction indicates that the NFT market is recovering, moving away from its previous slump.
Additionally, data shows that the NFT market's transaction volume exceeded 140 million dollars in the past seven days, with significant contributions from projects like CryptoPunks, Courtyard, and Bored Ape Yacht Club. DMarket and Pudgy Penguins also ranked high in transaction volume, further confirming the warming trend of the NFT market.
