BAYC #8585 was considered the most expensive NFT in the Bored Ape Yacht Club collection. In October 2022, an unknown person bought it for 777 ethers. However, the sale brought only losses to the token holder – he was able to sell the token for only 153 ETH. The deal took place on the X2Y2 trading floor.
Even despite what happened, this NFT is still one of the most expensive collectible tokens.
Recently, four investors who bought NFTs from the Bored Ape Yacht Club collection sued the creator of the project, Yuga Labs, and Sotheby’s, one of the oldest auction houses, accusing them of promoting tokens, whose rate has fallen significantly.
The NFT market has been going through hard times lately. Recently it became known that Jack Dorsey’s first tweet in the form of an NFT was depreciated by almost 100%.
And the cost of the NFT bought by the singer Justin Bieber from the BAYC collection has fallen dozens of times. The Canadian bought NFT for $1.3 million, but in a year and a half, the token fell in price by 95%, as a result of which Bieber suffered losses of about $1.2 million.
Source: Bits
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