Thursday, December 8, 2022

Madonna Entered The Metaverse With New BAYC NFT Purchase

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Madonna entered the Metaverse with a new BAYC NFT purchase and she is the latest in a line of artists to acquire a bored ape yacht NFT valued at more than half a million dollars as we can see further in today’s latest crypto news.

Madonna entered the Metaverse as she purchased a new BAYC NFT. The 63-yer old pop star announced that she is entering the Metaverse after acquiring a Bored ape NFT valued at about half a million dollars. She purchased ape #4988 which is a six-trading DMT primate that has a sleeveless logo tee and an S&M hat. MoonPay is the crypto custodian and payments processor that serves as a concierge service for the celebrities that want to buy NFTs and it was behind the latest transaction as well. The company launched MoonPay Concierge which is a new service for high net worth individuals that are interested in buying crypto and high-value NFTs. Meek Mill, Lil Baby, Snoop Dogg, Gwyneth Paltrow, and Kevin Hart are among the most popular clients.

The latest data on the NFT marketplace OpenSea revealed that MoonPay acquired 180 ETH ten days ago and got transferred to the singer’s wallet on March 23rd. Despite the high-profile artists tapping the world of NFTs, many fans of Madonna’s Instagram post were not happy and some even called it a disappointing move with one user commenting:

“Madonna. I’ve always looked up to you, but this is very disappointing.”

bayc maddona

The pop star’s relationship with crypto starts back in 2018 when she partnered with Brad Garlinghouse’s Ripple company to raise funds for orphans in Miami. With the latest developments, the singer joined the growing list of celebrities that grabbed an ape as one of the most popular NFT collections. Justin Bieber for example also purchased a BAYC NFT and made two purchases in a span of a few weeks with the latest one being $470,000 worth of ETH while previously he purchased one for $1.3 million. Eminem on the other hand joined in the craze by allocating 123.45 ETH worth $463,000.

BAYC’s APE increased by 50% over the week and continued its rebound move as the company behind it raised hundreds of millions of dollars in a funding round led by Andreessen Horowitz. APE’s price surged 7.5% intraday to hit $14.50 per piece and the tokens’ upside move came as a part of the retracement rally which started at the start of this week when it changed hands for $9.50. this pushed APE’s week-to-date profits up by 50% and made it one of the best-performing assets.

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