Man Who Bought An Ape For 4 ETH, Rejected $1.2 Million Offer

A man who bought an ape for 4 ETH and less than a year he turned down a $1.2 million offer and here’s why so let’s read furhter in today’s latest ethereum news.

At this point, it is quite evident that NFTs are causing a huge stir but with it, there’s no shortage of interesting stories of random people that turned down thousands of dollars or some even made hundreds of dollars into millions. However, this story is a story of someone that refused to become a millionaire by turning down $1.2 million on an NFT which he paid less than $17K for back in 2021. For those that haven’t heard of the Bored Ape Yacht Club, it is the most popular NFT out there or more specifically a collection of 10,000 NFTs which depict literally bored apes. Each one has different traits and each one is limited in its essence so for example, some apes have hats, others have jewelry, and so forth.

The rarity of each NFT is represented by the rarity of each trait so the rarer the trait is, the rarer the ape is which is where Ape #1726 came into action. The user by the Twitter handles @ElectionDayMad1 revealed that he actually turned down a 420 ETH offer for the ape and that’s worth about $1.2 million with the user only paying 4 ETH back in May when the collection was actually sold out. Back then, the 4 ETH cost him about $12,000. As mentioned previously, Bored Apes are composed of different traits and each one of them is rare so it turns out that the ape mentioned above was quite rare. The Man who bought it said:

“I rejected it [read: the offer] because gold fur apes are the rarest fur of BAYC. Also, it’s my personal brand, and I think with this brand, and owning the ape, I can continue to make residual income.”

The user has another 36 apes in his collection so it seems understandable why some users can be picky and still, $1.2 million is a lot of money. What’s more to it, the example above shows why BAYC NFTs grew in value so much which is exclusivity. Ape Owners are a part of the digital club where the entry will cost short of 100 ETH which is almost $300,000. The team behind BAYC is making everything they can to expand the growing list of benefits that come with being a member of the club.