Madonna Buys a ‘Bored Ape’ NFT

Pop icon Madonna has become the latest celebrity to join the non-fungible token (NFT) craze by buying a Bored Ape. 

Here is how Yuga Labs, the team behind Bored Ape Yacht Club (BAYC), describes this NFT collection:

“BAYC is a collection of 10,000 Bored Ape NFTs—unique digital collectibles living on the Ethereum blockchain. Your Bored Ape doubles as your Yacht Club membership card, and grants access to members-only benefits, the first of which is access to THE BATHROOM, a collaborative graffiti board. Future areas and perks can be unlocked by the community through roadmap activation...

“Each Bored Ape is unique and programmatically generated from over 170 possible traits, including expression, headwear, clothing, and more. All apes are dope, but some are rarer than others. The apes are stored as ERC-721 tokens on the Ethereum blockchain and hosted on IPFS. (See Record and Proof.) Purchasing an ape costs 0.08 ETH.“

According to a report by The Block that was published on March 24, the 63-year old singer published an Instagram post saying that she had “entered the metaverse” via the acquisition of Bored Ape #4988. The NFT cartoon features a monkey sporting an “S&M” hat, chain and sleeveless t-shirt. 

Here is a description of Bored Ape #4988 from its OpenSea listing page:

Citing transaction records from the NFT marketplace OpenSea, the report claims MoonPay acquired Madonna’s Bored Ape for 180 ETH (~$560,000) last week (it looks like this occurred on March 15). Then, apparently MoonPay transferred the NFT to a wallet presumably belonging to Madonna. MoonPay has been purchasing high-value NFTs for celebrities over the last year.

Following the purchase and transfer of Madonna’s NFT, MoonPay transferred Bored Ape #1506 to a separate wallet, which has since been identified as the new Twitter profile picture belonging to wrapper Wiz Khalifa. The cartoon sports a leopard-furred primate with an eye patch, continuing the celebrity craze for the Bored Ape collection.

Disclaimer

The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, or other advice. Investing in or trading cryptoassets comes with a risk of financial loss.

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Featured Image by “shykhman” via Pixabay.com

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