BAYC: The new owners of BAYC #11 paid 99 ETH ($396,000). But why number 11? And why now?
It seems we aren’t bored of the Bored Ape Yacht Club just yet. In fact, prices for this NFT collection just keep rising. A BAYC NFT just sold for $396,000. And the marketing the attached business has got from it has been well worth the price of purchase.
After reading this article, you may come to the conclusion that the purchase of BAYC #11 was simply a marketing ploy. But if it was, it certainly worked. The purchase has brought attention to every facet of the purchaser’s brand.
BAYC: The buyer
The Bored Ape Yacht Club #11 NFT was acquired by a nightclub in downtown Miami, Florida, called E11EVEN. The ‘Ultraclub’ won best dance club last year. It is also the first ‘superclub’ to accept crypto payments.
The E11EVEN brand doesn’t end at superclubs, though. They also own the E11EVEN Hotel and Residences, and E11EVEN Vodka.
In line with their brand, they bought Bored Ape #11. They say BAYC is the hottest NFT collection in the world.
E11EVEN will join other brands and celebs who are Bored Ape collectors, including Jimmy Fallon, Steph Curry, Post Malone and Justin Bieber.
A Spokesperson for the brand, Dennis DeGori, said, “E11EVEN has always dedicated itself to being cutting edge and staying ahead of the curve. We have seen tremendous success in the eight months we have accepted cryptocurrency (as a form of payment). We see opportunities like this as a natural transition for the business to continue to expand the brand and our assets.”
Payments in Crypto
In April 2021, E11EVEN Miami said that it would be the first major nightclub in the U.S. to accept cryptocurrency. “This decision was a true testament to the E11EVEN Partners continuously finding new ways to lead the industry. Since then, E11EVEN MIAMI has processed over $4,000,000 in cryptocurrency.”
Owners of the brand are Michael and Nikki Simkins. They have been married for 17 years with three children. They sound like a nice Karen and Darren couple from the suburbs. But Hold up. They have been purveyors of crypto for quite some time.
In June, E11EVEN Hotel and Residences became the first real estate project in the U.S. to accept cryptocurrency. Buyers of the condominiums placed deposits down in crypto to purchase off-plan.
The E11EVEN Vodka brand sponsored the International Bitcoin Conference. And, E11EVEN Life sold a 1-of-1 edition diamond-embroidered Bitcoin Hat. The price? 1 BTC ($50,000 at the time).
BAYC #11 is part of the brand
Sais DeGori, “This is an exciting acquisition for E11EVEN. We have been bullish on cryptocurrency for a long time. As we continue to embrace the cryptocurrency and NFT space, we look forward to seeing our community at the nightclub and in the metaverse and beyond.”
Opening in 2014, E11EVEN Miami has been hugely popular. In 2019, it took the title as the highest-grossing nightclub per square foot, globally. Stars such as Drake, Usher, Miley Cyrus, Cardi B, The Chainsmokers, Post Malone, Daddy Yankee, and Nicky Jam have taken the stage.
Celeb guests have included Leonardo DiCaprio, Kendall Jenner, Demi Lovato, Gigi and Bella Hadid, Dwyane Wade, Vin Diesel and others.
Owning a BAYC NFT seems to be the new who’s who list. And we here at BeInCypto are watching.
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