Bored Ape Yacht Club NFTs continue to soar in popularity as celebrities and athletes steadily adopt the artwork and often use the NFTs as identifying images on social media platforms.
With floor prices relentlessly increasing, most would be ecstatic to get their hands on a single BAYC NFT, but one early investor keeps buying Bored Apes and is now holding a total of 36.
"By November/December, I just started buying as many as I could because I figured we'd see such a huge rise in floor price like we have," BAYC investor Franklin said Tuesday on Benzinga's NFT show "The Roadmap."
Franklin told Benzinga he minted three Bored Apes when they were initially released and then turned to the secondary markets to add to his collection when the floor price was around .15 ETH, the native token of the Ethereum (CRYPTO: ETH) blockchain.
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"This was such an easy decision because there were really no other projects like this out there at that time," he said.
Franklin then started researching traits in an attempt to determine the future rarity of the Bored Ape NFTs. When the NFT markets cooled down, he was prepared and ready to start buying them up.
Franklin told Benzinga that he once listed his most valuable NFT, Bored Ape Yacht Club #1726, for 16 ETH, before reconsidering and buying it back from another wallet. That BAYC NFT is now worth millions. It would probably take 2,000 to 2,500 ETH for Franklin to part with it, he said.
"Whatever I would get for it would be something that I could live off of for a long, long, long time."
Franklin went on to talk about the benefits of being a member of the Bored Ape Yacht Club, NFT sales to athletes, other intriguing projects and more.
See the full interview here:
$ETH Price Action: Ethereum was down 2.8% over 24 hours at $2,681 Wednesday morning.
