Sotheby’s is bringing Bored Apes to the world of fine art.
The 277-year-old British auction house will be selling a collection of 101 Bored Ape Yacht Club (BAYC) non-fungible tokens (NFTs) created by Yuga Labs in an auction running from Sept. 2-9. It will also offer a collection of 101 Bored Ape Kennel Club NFTs.
Sotheby’s estimates the BAYC sale will total $12 million to $18 million, while that for the Bored Ape Kennel Club will fetch $1.5 million to $2 million, according to a press release. Sotheby’s will accept ether, bitcoin and USDC as payment options for the auction, which will be facilitated through Coinbase Commerce.
The Bored Apes Yacht Club is the second-most popular NFT collection by total trade volume (136,107 ETH) behind CryptoPunks, according to rarity.tools. The floor price at the time of writing for the cheapest available Bored Ape Yacht Club NFT on the open market is 48.8 ETH, or $165,578.
Owners of the high-priced NFT collection include NBA superstar Steph Curry, YouTube creator Logan Paul and musician Jermaine Dupri.
The winner of the Sotheby’s BAYC auction will also be awarded six “mutant serums,” which allow their owner to generate a new Mutant Ape NFT from one of the existing Bored Apes in the collection.
UPDATE (August 31, 21:09 UTC): Updated with information about payment options in third paragraph.
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.