Mutant Ape NFT sold for US$817,000

Yuga Labs' NFTs have been declining in value in recent months. Despite the downward trend, Jeffrey Huang bought a special Mutant Ape for 500 ETH.

On Sept. 1, an NFT from the Mutant Ape Yacht Club (MAYC) collection changed hands for 500 ETH. At that time, those 500 ETH had a value of US$817,000. The collectible is MAYC #30002, which has so-called "special rarity features" within this collection. The buyer is Taiwanese music star Jeffrey Huang. In the crypto sector, the NFT enthusiast is known by the pseudonym Machi Big Brother.

Despite the special features, the purchase is particularly spectacular. This is because Yuga Labs' NFTs have only been declining in value in recent months. The average price (floor price) for a Mutant Ape NFT is 5.3 ETH (about US$8,600), the lowest number since November 2021. The iconic Bored Apes are also struggling.