Bored Ape sold for 83% less than what Kevin Hart paid

Bored Ape Yacht Club #9258, formerly owned by American comedian Kevin Hart, was traded for approximately 13.26 ether ($46,200) earlier today on Blur, a non-fungible token exchange, after changing hands several times over the weekend. It was sold at a significantly lower price than Hart paid more than two years ago, according to trading on the platform. page.

Hart purchased the Bored Ape, seen wearing a colorful propeller hat, in January 2022 for 79.5 ether, worth more than $200,000 at the time, according to Blur. data.

Hart’s 2022 purchase was made with the help of crypto startup MoonPay. The company would have has helped other celebrities acquire BAYC NFTs in exchange for promotional activities for MoonPay – sometimes at no cost. The list of celebrities includes Justin Bieber, Madonna and Jimmy Fallon, but MoonPay denied distributing Bored Ape NFTs for free.

In December 2022, MoonPay, Bored Ape maker Yuga Labs, Hart and dozens of celebrities were caught in class action from Scott + Scott, a California-based law firm, for allegedly pushing an undisclosed celebrity endorsement project. Last summer, the lawsuit was updated to include the auction house Sotheby’s on the list of defendants.

Since its launch in 2021, the Bored Ape Yacht Club has become a symbol of the non-fungible token market. However, the NFT collection saw a gradual decline in the floor price – the value of the cheapest available NFT in a collection – which peaked at over 150 ether in May 2022 but fell to around 14 ether on March 23, according to CoinGecko . data.

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