Bored Ape NFT #7940 Sells for Over $1.4 Million

The global market for non-fungible tokens, which was once marked by dramatic spikes and drops, is showing remarkable resilience and is gradually transitioning from recovery mode to a robust market resurgence in 2024. Just a few hours ago, a Bored Ape non-fungible token collection was sold for over $1.4 million, further demonstrating that the non-fungible token market remains vibrant and active.

Recently, a report from nftevening.com highlighted concerning trends in the non-fungible token market, indicating that 96% of NFTs are deemed inactive. The study analyzed 5,000 NFT collections and 5 million transactions to evaluate the current NFT landscape. This report pointed out the high unprofitability rate among NFT owners and the short lifespan of most NFT collections. However, such findings may be losing relevance as the NFT sector continues to experience positive growth.

Bored Ape #7940 NFT Fetches Over $1.4M

According to data from CryptoSlam.io, a detailed data aggregator platform that provides insights into buying, selling, and trading digital collectibles, the Bored Ape Yacht Club #7940 NFT collection was sold for $1.43 million on the X2Y2 NFT marketplace. This significant transaction has propelled the total sales volume of Bored Ape Yacht Club NFTs to increase by over 900% in the last 24 hours. Within this timeframe, the Bored Ape NFT collection has achieved a sales volume of $1.6 million.

Established in April 2021, the Bored Ape Yacht Club is a non-fungible token collection created by a digital asset incubation studio, featuring a limited edition of 10,000 NFTs on the Ethereum blockchain. Owning a Bored Ape grants access to an exclusive Discord community and occasionally, real-world social events. The Bored Ape NFT collection has rapidly risen to become one of the most celebrated NFT collections in the ecosystem.

NFT Market Update – Daily Sales Surge by 33%

The worldwide non-fungible token market has recorded remarkable growth, with Bored Ape and various NFT collections experiencing surges in trading sales. In the past 24 hours, the overall NFT market has achieved a trading sales volume of $14 million, marking a 33% increase from the prior day. During this period, Ethereum has been at the forefront of the NFT market, generating $6.5 million, a rise of 147% from the day before.

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