Bored ape whale spends almost $1m on DeGods NFTs

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NFT
Bored ape whale spends almost $1m on DeGods NFTs

A bored ape whale collector under the pseudonym “Pokee” has bought 69 DeGods NFTs in one bulk purchase, spending close to $1 million. Pokee plans to transfer these NFTs to Ethereum.

Pokee honors his tweet

Pokee bought the NFTs using a tool that allows buyers to ‘sweep the floor’ or purchase any amount of NFTs from a project. Some traders buy several affordable NFTs from a project, hoping the collection will rise in popularity instead of choosing the pricier assets.

Before the purchase, Pokee had promised on Jan. 13 that he would sweep the 69 NFTs after his tweet got 1,000 likes. He added that his acquisition would be aimed at supporting the project’s highly anticipated move to Ethereum and the tweet garnered almost 3,000 likes at the time of writing.

He initiated and approved the transaction three days later, spending about $900,000.

Pokee, in an interview, explained that his goal with the investment was to bridge them to ETH. He added that he could not invest more of his wealth into Solana due to on-chain dangers.

At the time, he only had fun in Solana on little NFTs and mints. He claims that he controls a private crypto fund and owns Pokeee.eth wallet that safely keeps three valuable Bored Ape Yacht Club NFTs and other NFT collectibles.

Magic Eden initially allowed only a maximum purchase of 50 NFTs, but Pokee requested them to increase the swipe option to 69 NFTs, claiming that a 50 NFTs limit is “of ultimate inconvenience.” Later, Magic Eden updated the sweep functionality to allow a larger mass sweep of NFTs.

DeGods & Solana’s trading volume increases

DeGods launched in 2021. It is a digital art collection and community of creators, business persons, athletes, artists, and innovators.

DeGods increased in value significantly in 2022 after developer DeLabs introduced a reward token, launched a Y00ts follow-up project, and rolled out new artwork.

In late December, DeLabs publicized that they plan to bridge DeGods to Ethereum’s main net while y00ts will be bridged to Polygon before the end of the first 2023 quarter.

DeGods is now leading Solana’s NFT marketplace in terms of trading volume, consequently racking up SOL’s trading volume compared to other marketplaces. According to Cryptoslam, DeGods has surged by about $135 million.

However, it has been overtaken by Degenerate Ape Academy and Solana Monkey regarding total USD trading value.

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Wayne Jones

Wayne is an all-rounded cryptocurrency writer who has written for several publications in the fintech industry. Having graduated from the University of Essex Colchester, he developed a passion for blockchain technology and has been curious about how the blockchain can modify the traditional financial industry.