On July 31, Moscow residents had the opportunity to look at the monkey from the Bored Ape Yacht Club NFT collection for free. The banner adorned the facade of the Oktyabr concert hall on the Arbat. The initiative belonged to the owner of the painting, domestic crypto blogger Azam Khodzhaev. According to experts, the cost of the art object is estimated at 500 thousand dollars.
The demand for works from NFT collections is constantly growing in today’s market. As a result, property prices also increase. Digital art continues to gain popularity. In 2021, the demand for non-fungible tokens (NFT) increased several times. This currency is unique in its features. It is not divided and gives its owner the ownership of a particular object. It is impossible to replace the owner with another without the consent of the first person.
The monkey on the Arbat banner is one of the designs released on the Ethereum blockchain. There are about 10,000 of them in total. Each of them is sold at auction. The collection is popular among the owners of works – many famous people. For example, basketball player Stephen Curry and rapper Eminem have already become monkey owners. Owners can use their property for personal purposes, such as their profile picture.
Expert forecasts promise that the metaverses will continue to grow steadily. These include virtual artifacts and collectible digital assets, including artwork like the aforementioned NFT collection banner.
According to Azam Khodzhaev, the monkey may reappear on the Arbat shortly so that more people can get acquainted with the work.
