Amidst all the concerns over the global corrections that have brought down all cryptocurrencies, one NFT has seen a massive hike in the price of over 40%. That NFT is none other than Mutant Ape by Bored Ape Sales. Some months ago, Mutant Ape was just a project in making that was talked about due to its aesthetics. The project went silent for some time in the crypto and NFT industry. Now, it has come back again with a bang and made a riff in the market.
The reason behind this hike
The reason behind this hike is probably the fact that America’s one of the most famous rappers, Eminem, has purchased this NFT. It was revealed by the celebrity figure himself that he has invested in Bored Monkey’s Mutant Ape NFT collection. BAYC (Bored Ape Yacht Club) and MAYC (Mutant Ape Yacht Club) will probably see a rise of 90% in the market, according to some experts. The figure is already at 40% now. Thus, it’s a good time to invest in this NFT.
Both of these are sister projects that have a certain affinity to the Hip-Hop culture. In other words, their aesthetics are quite similar to that valued in the Hip Hop culture. Thus, it’s possible that other Hip Hop figures may also invest in this NFT in the future.
NFTs or non-fungible tokens are digital copyrights of digital art that can be sold while maintaining the authenticity of the artist and giving them due rights. It’s a revolutionary concept and is gaining traction fast.