A Fortunate Winner Walks Away with a Bored Ape Yacht Club NFT
A crypto enthusiast was able to secure a valuable BAYC NFT on February 22, 2022. The gamble was won using a $38 bet on Rollbit, an online casino supporting digital assets. According to Rollbit, the gamble is a huge game-changer to them and the entire NFT betting scene.
NFTs in the Gambling Arena
The anonymous winner of the BAYC NFT couldn’t hide his excitement after the event. According to the user, he intends to store this NFT until it reaches $2M.
After winning the bet, Rollbit quickly took part in buying the asset from OpenSea. The NFT casino platform also says that it only took a minute to send the NFT to the winner.
Before the event, the same NFT was bought by another investor who goes by the name Mbabs. However, the NFT collector later sold the digital asset to Rollbit at 102.69 ETH. Going by today’s prices, the amount is equivalent to $278,000.
Bored Ape NFTs are Going Mainstream
Bored Ape Yacht Club NFTs operate as an innovative collection of 10,000 apes running on Ethereum’s blockchain. The characters carry unique sets of traits which make them different from each other. Therefore, each ape has a distinct style of fashion and expression.
Owning these NFT apes grants its holders several types of benefits. Digital wallets carrying a minimum of one character get access to an exclusive virtual hangout place.
Owners can draw pixels in the hangout’s wall after every fifteen minutes. Thus, the apes aim at creating a membership investment club to the community. Since the BAYC characters are limited, each ape has the potential of becoming profitable in the future.
Due to this reason, the BAYC NFTs are gaining mainstream attention particularly from influential figures. Music legends such as Eminem and Justin Bieber are among the moguls who acquired their BAYC NFT.
Eminem made his NFT purchase at $462k while Justin bought his asset for 500 ETH ($1.3M). Justin then bought another ape NFT in February 2022 for $470k.
Featuring on the same investment is Neymar Jr, who spent over $1M to buy two ape NFTs. Popular tennis player, Serena Williams, was also part of the club after she acquired a crypto punk NFT in January 2022.
Digital Currency Tokenization
Asides from NFTs, there is a growing buzz around the tokenization of digital currencies such as Wrapped Bitcoins. These assets are creating greater access to various utilities and blockchain networks.
In fact, new data from Coin Metrics shows that approximately 1.4% of BTC’s supply is currently on Ethereum’s ecosystem. The figure is proportional to 250K+ BTCs running on the second largest cryptocurrency.
Users are also considering the application of wBTC as the report records an increasing adoption rate. The trading volumes of the asset are equally higher since exchanges like Uniswap V3 traded wBTCs worth more than $60M.
Furthermore, the digital token’s liquidity status was also in the spotlight after wBTCs began to trade on centralized exchanges. This move brought greater improvement especially to arbitrageurs who can take advantage of price differences.
