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Set of "Bored Ape" NFTs sell for US$ 24.4 million in Sotheby's online auction

LONDON : A set of 107 non-fungible tokens (NFTs) representing images of cartoon apes sold for US$24.4 million in an online sale at Sotheby's auction house on Thursday, as the market for the niche crypto asset continues to heat up.

The images were part of the "Bored Ape Yacht Club" collection of NFTs - a set of 10,000 computer-generated cartoon apes, made by the U.S.-based company Yuga Labs. Owners of the ape NFTs become members of an online club.

Unusually for NFTs, the buyers of Bored Apes also receive the intellectual property rights for the images.

(Reporting by Elizabeth Howcroft; editing by Sujata Rao)

Source: Reuters