Last week, a bunch of digital apes sold at Sotheby’s auction for $24.4 million.
It’s the kind of headline we’re all growing accustomed to in the era of NFTs, or non-fungible tokens that secure an owner’s rights to a digital good or creation. Bored Ape Yacht Club solidified its status as one of the buzziest “NFT clubs,” alongside CrypoPunks and Axie Infinity, where limited-edition avatars are traded for staggering sums. For those who can afford it, changing your avatar on social media in accordance with your latest NFT purchase has become the new digital flex.