A popular NFT toys startup company, gg Toy Company, has recently bought the Mutant Ape Yacht Club #24598 NFT. The purchase was made on 9th July 2022, for 19.69 Ethereum. At the time of purchase, this value was equivalent to $30,000.
The company bought this NFT to use its included Intellectual Property Rights in order to brand their own company and to create a new toy character based on the character of this NFT.
Gg Toy company has a large collection of NFTs, which can be found here – https://opensea.io/ggToyCompany
However, the recent purchase of Mutant Ape Yacht Club NFT will make this their most expensive NFT among the lot. It will also become the center focus of their rebranding which the company is planning to undergo very soon.
More about NFTs
For those who are not much familiar with the concept of NFTs, here is a quick introduction to the concept.
NFTs, or non-fungible tokens, are a new type of asset that is stored on the blockchain. Unlike Bitcoin or Ethereum, which are fungible (meaning they can be exchanged for other assets), NFTs are non-fungible, meaning each one is unique and cannot be replaced by another.
This might not seem like a big deal at first, but it actually has some pretty major implications. For one thing, it means that NFTs can be used to represent real-world assets in a way that is secure and tamper-proof. This could have huge implications for things like art, collectibles, and even property rights.
In addition, because NFTs are stored on the blockchain, they can be bought, sold, or traded just like any other cryptocurrency. This makes them incredibly liquid and gives them a lot of potential upside.
Mutant Ape Yacht Club NFT
The Mutant Ape Yacht Club is a luxury NFT project created by Yuga Labs in August 2021. It’s an extension of the Bored ape yacht club, and it aims to expand its community through inviting new members while rewarding existing holders with tokens for their hard work invested into MAYC. This collectible has one-of-kind features that make this stand out among other ultra premium collections on markets with around $24K average price point!
The MAYC NFT collection has over double the number of digital art pieces as compared to its original counterpart, BAYC, making its total around 20,000. Each Mutant has certain features which makes them unique; rarer ones cost higher prices as compared to other Mutants.
People from all circles including Sports, Entertainment, Business and many more have become the owners of this NFT. You can find the list of members here – https://boardroom.tv/bored-ape-nft-celebrity-owners.