Note that Bored Ape Yacht Club is the most expensive collection of NFT tokens in the world. We checked the actual data: today the cheapest in the range costs 97.4 ETH, or the equivalent of $199,000.

The most expensive NFT token collections in the world

For comparison, in second place are the famous Cryptopunks, which will cost at least 52.5 ETH or $107,000 to buy.

The high price of Bored Ape Yacht Club representatives made the collection’s representatives a real target for hackers, some of whom have been quite successful in stealing NFTs. So why in this case the investor decided to get rid of the token for pennies? There is a possible answer to that.

How NFT tokens are used

According to CryptoPotato sources, the cheapest token in the BAYC series can now be bought for around 101 ETH or $206,000. That is, the anonymous Ape Holder #6462 sold its token 99.9 percent cheaper than the lower price cap. In the background, many crypto-enthusiasts agreed that he did it deliberately. But why?

Ape #6462

According to analysts, it’s all about tax evasion. If the holder of Ape #6462 as, for example, a US resident would sell NFT for hundreds of thousands of dollars, he would probably get a good profit from the transaction. But that profit is taxable under the country’s crypto industry regulations. So selling the asset for $200 is a pretty obvious attempt to avoid paying fees to the government.

In addition, another own wallet could easily be used to buy NFT at that price.

The current price of the token is over $400,000

Crypto-enthusiasts on Twitter have found another confirmation of this fact. Firstly, the transaction history of this token on OpenSea shows that NFT was sold a couple of times for at least 2 ETH or $7000 about a year ago. Ape #646262 has been transferred at least five times between different wallets since its release. Secondly, the “buyer account” on OpenSea was created this month, and the deal offer was accepted minutes after it was received.


Note that NFT transactions are made on the blockchain, so details of transactions with each non-mutual token are available to anyone. For example, this is what the transaction history of a particular NFT looks like.

Here you can see the sale of the token for 42 ETH a year ago, as well as a transaction of the equivalent of 769 ether eight months ago.


Trading history of a certain NFT token

Apart from fraudulent schemes, the NFT sphere is also full of interesting ideas. One of them was embodied in the Legacy collection of unique tokens developed by former football star Michael Owen in partnership with Oceidon. The main “feature” of the collection is the “ever-increasing value of the tokens”.

It’s implemented in a fairly trivial way: token holders simply can’t sell NFTs for less than what they bought them for, and even if there’s a buyer in the market. On paper, that may indeed lead to an explosion in the value of the pieces, but in reality, if the demand for Legacy drops, its holders will simply lose all of their investment because they cannot sell the tokens even at a loss.

Footballer Michael Owen

Because of this, Oceidon management and Owen himself have faced a wave of criticism from the cryptocurrency community. On Twitter, some commentators hinted that an NFT series with such features is more like a pamp scheme, as the last token buyers will be left with nothing before the frenzy falls.


We believe that such events are unlikely to be good for the non-interchangeable token industry and digital assets in general. Still, arguments about fraud and deception are being actively used by crypto opponents among officials and bankers. Obviously, for the sake of promoting crypto, it's better for them not to give reasons to talk about the niche in that tone.


What do you think about this? Share your opinion in our millionaires cryptochat. There, discuss other developments from the cryptocurrency world that are attracting investors’ attention.