By
Chimamanda U. Martha
April 22nd, 2024
Taylor Gerring, the co-founder and former Director of Technology of the Ethereum Foundation, bought the Mega Mutant Serum.
With the Bored Ape Yacht Club gaining traction and a hike in valuation, the derivative Mutant Ape Yacht Club is also generating a buzz with its recent collection. The Non-Fungible Token project, which is essentially run on the Ethereum blockchain, has been able to gather approximately a 500% increment in trading volume in the last seven days. The star of the NFT project is a single Mega Mutant Serum that is being sold for $3.6 million worth of ETH.
According to the information from the NFT analytics site CryptoSlam, the secondary market trading volume for the Mutant Ape Yacht Club has excelled at $70.9 million during the past week. Not only has this feat helped the club gain a 500% rise from the previous week, but has also made it the top-ranking popular tracked project in this period.
In this specific period, the mean sale price of a Mutant Ape NFT has skyrocketed from around 8 ETH ($32,000) on December 21 to approximately 12.3 ETH ($50,250) on the 28th of December. In addition to that, the last seven days have accounted for a 40% increase (9.9 ETH) in the project’s most inexpensive NFT.
The Mega Mutant Serum is a unit of the Bored Ape Chemistry Club. It comprises a thousand mutant serums that can be dropped to all Bored Ape NFT holders. The Serums, which are divided into three verticals -M1, M2, and Mega Mutant, can subsequently alter living apes into ‘mutant’ renditions of themselves. These are burned when used.
The Mutant Ape Yacht Club is an Ethereum NFT undertaking, that covers about twenty thousand total avatar images.
The Yuga Labs traded ten thousand Mutant Ape Yacht Club NFTs in August, yielding $ 96Mn worth of ETH in a span of only one hour. The Mutant Serum NFTs are presented in wide-ranging levels of uniqueness. There are exactly 8 Mega Mutant (or M3) Serums.
With the rising engagement of crypto enthusiasts for Mutant Apes, the residual Mega Mutant Serum NFT, which was not used till now, was traded at 888 ETH at the time of purchase (or $3.6 Mn).
Taylor Gerring, the co-founder and former Director of Technology of the Ethereum Foundation, bought the Mega Mutant Serum. The NFT collector planned a Twitch Livestream and Twitter Spaces event, so the Bored Ape fans could observe the NFT metamorphose in reality.
The collectible was also advancing towards the same floor price as CryptoPunks.Two of the most famous NFT collections, the CryptoPunks, and the Bored Ape Yacht Club, have approximately similar entry-level rates. While Crypto Punks was created in 2017 by Larva Labs, Bored Ape was developed in April by Yuga Labs. Crypto Punks have been touted as the first major NFT project, however, the Bored Ape has had exponential growth in a very small time.