A Bored Ape Yacht Club NFT, previously owned by American comedian Kevin Hart, was recently sold for approximately 13.26 ether ($46,200) on Blur, a non-fungible token exchange. The sale marks a significant decrease in value compared to Hart’s original purchase price over two years ago.
Bored Ape Yacht Club #9258, adorned with a colorful propeller hat, was acquired by Hart in January 2022 for 79.5 ether, valued at over $200,000 at the time, according to data from Blur.
Hart’s acquisition of the Bored Ape NFT was facilitated by crypto startup firm MoonPay, which reportedly aided various celebrities, including Justin Bieber, Madonna, and Jimmy Fallon, in obtaining BAYC NFTs in exchange for promotional activities. MoonPay denied allegations of providing Bored Ape NFTs for free.
In December 2022, MoonPay, Bored Ape creator Yuga Labs, Hart, and numerous celebrities became embroiled in a class-action lawsuit filed by Scott + Scott, a California-based law firm. The lawsuit alleged a scheme involving undisclosed celebrity endorsements. Subsequently, auction house Sotheby’s was added to the list of defendants.
While the Bored Ape Yacht Club gained significant prominence in the nonfungible token market since its inception in 2021, the collection has experienced a decline in floor price. The floor price, representing the value of the cheapest available NFT in the collection, peaked at over 150 ether in May 2022 but dropped to approximately 14 ether on March 23, according to data from CoinGecko.
The recent sale of Hart’s Bored Ape NFT underscores the evolving dynamics of the NFT market and highlights fluctuations in value over time.