Weekly NFT Sales for BAYC & MAYC Surged By 150% and 93.41% Thanks To Eminem

NFT market was already growing immensely but another major push to it has been given by globally famed American rapper and hip-hop artist Eminem when he revealed to the public that he too has bought an expensive NFT collection of Bored Ape Yacht Club which cost him US$ 425,000 roughly. The push has been duly capitalized by the NFT market of Bored Ape Yacht Club and Mutant Ape Yacht Club after Eminem’s disclosure.

Two of the most attention and investment-seeking NFT projects of today are Bored Ape Yacht Club (BAYC) and Mutant Ape Yacht Club (MAYC). Since the past week, the daily trade volume for the two NFT collections is significantly higher than ever before.

Last week, BAYC’s daily trade volume for the entire week was not more than US$ 78.62 Million. Similarly, the weekly trade volume for MAYC in the past week was US$ 93 Million. In terms of their average value increase individually in the past 7 days, BAYC is up by 150% while MAYC is up by 93.41%.

This meant that in less than seven days, NFT sales of BAYC and MAYC collectively have surged by more than 244%.

It is widely believed by many that the past year of 2021 was the NFT year. However, at the end of 2021, the NFTs market evolved and attracted huge investment in the projects of Metaverse i.e. sales of virtual lands against real money. BAYC is one of the most popular projects in the NFT market which comprises at least 10,000 NFT collections. A complete set of BAYC collections is shared amongst 10 thousand unique digital addresses/wallets.

For instance, most of these unique addresses belong to the Ethereum network, wherein at least 100 addresses own BAYC NFT collections.

It is not the weekly trade volume alone which has increased but in fact number of BAYC traders too has skyrocketed significantly. Statistics show that in the past week there were about 400+ traders of BAYC who traded NFTs worth more than US$ 78 Million. According to data, the traders’ number has surged by almost 102% while sales are up by 123%.

One of the main reasons for the recent surge in the sales of BAYC and MAYC NFTs collection is associated with a celebrity. The influential celebrity was American rap artist ‘Eminem’. The sales skyrocketed when Eminem told his fans that he too owns an NFT of BAYC project. He further told the public that buying the NFT cost him US$ 425,000 roughly.

As of today, there have been several BAYC’s sales which were the most expensive ones. Eminem’s NFT purchase is the 30th most expensive BAYC NFT purchase so far. Now the public is aware that NFT projects of BAYC and MAYC are worth investing in as celebrities like Eminem are interested in them. This is likely to further increase the NFTs sales and attract more investors into the ecosystem.

By Edward Richardson
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