While the market for non-fungible tokens (NFTs) has cooled off with the latest market downturn, industry-focused initiatives have not abated. Proof of this is that the popular collection of NFTs Bored Ape Yacht Club (BAYC) announced this Wednesday (22) that it has partnered with the American magazine Rolling Stone to launch a special edition of digital collectibles.
Gm apes – we’re stoked for the first night of ApeFest. To kick things off, we’re excited to announce that we’ve teamed up with @RollingStone again for two 1/1 NFTs (one BAYC and one MAYC). pic.twitter.com/MYlEGt954h
— Bored Ape Yacht Club (@BoredApeYC) June 20, 2022
BAYC cooperate with Rolling Stone
As reported by the BAYC team on Twitter, the collaboration NFTs will be auctioned this Wednesday (22). In addition, there will be a 4-hour sales period. Sales will be open to the public, but it will only be possible to pay in the project’s native token, ApeCoin (APE), for the equivalent of $100.
This is the second collaboration between Rolling Stone and Bored Ape within a year. In November 2021, the monthly magazine, which focuses on politics, music and culture, joined the NFT movement by joining forces with BAYC and auctioning off two digital magazine covers.
In addition, Rolling Stone has released 2,500 limited-edition paper zines in physical format with images of Bored Ape on their main page.
The news about the partnership has so far not affected the price of the APE token. After a historic launch in March this year, with the token’s price going from $7.26 to $26.19 at the end of April – an appreciation of more than 260% – the asset continues in a downtrend.
Bored Ape NFTs Collection
Meanwhile, the BAYC collection of NFTs, which has become a rage among celebrities, isn’t enjoying its best days either.
The market value of the Bored Monkeys collection is around $910 million, down more than 53% in the last month, according to platform Dapp Radar. Likewise, the average price of NFTs – $143,000 – has also declined by almost 60% in the last month.
The collection of NFTs has emerged as one of the most influential projects in the non-fungible token industry. Celebrities like Serena Williams, Justin Bieber, Neymar Jr and Madonna shelled out millions to acquire their monkeys.
Now, with the recent devaluation, they are worth far less than when they were bought.