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  • Writer's pictureKyle

CNN Covered The Bored Ape Yacht Club. Find Out More Here:

The Bored Ape Yacht Club was featured on CNN business Sunday morning.

In an article titled, “Remember NFTs? They're back, big time” CNN reporter Julia Horowitz dives into the non-fungible token world.

In the article, she highlights the BAYC as one of the elite projects in the space and spotlights one of the clubs high profile members.

“Celebrity attention has helped feed the hype,” Horowitz wrote. “NBA star Steph Curry reportedly just paid $180,000 for an NFT from Bored Ape Yacht Club, one of the highest-profile NFT projects. He changed his Twitter avatar to display his prize: the image of a blue monkey in a tan suit.”

Celebrities aren’t the only cultural influence impacting the NFT space Horowitz writes. She also dove into recent NFT auctions at notable auction houses, Christies and Sotheby’s. “Auction houses have served a similar function. NFTs really started generating public attention after a JPEG file by the digital artist Beeple sold for $69 million at Christie's in March. This week, Sotheby's will auction off a lot of Bored Ape NFTs, which it expects could fetch as much as $18 million.”

At the end of the article Horowitz dove into how the NFT bull market may end. “Where does it end,” she questioned? “Les Borsai, co-founder of Wave Financial, a Los Angeles-based digital asset investment management firm, dismisses the idea of a "bubble" given the technology that underlies NFTs.

He points to all the ways digital art and collectibles can be monetized, including through the fast-growing world of blockchain-based gaming.

‘A tulip was a tulip," Borsai told me, alluding to Dutch tulip mania in the early 17th century, which was one of the most famous market bubbles in history. "These things do have completely robust technologies connected to them.’”

Be sure to check out the full story from CNN here:

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