Bored Ape Yacht Club (BAYC) is a prominent digital art NFT, known for a record sale price of $2.85 million. There are a total of 10,000 unique BAYC NFTs, each distinguished by individual artistic features. The ApeCoin (APE) cryptocurrency was created in early 2022. An analysis of Otherside, associated with BAYC, indicates a strong correlation of 0.9211 between its housing price index (HPI) and APE price, with a Granger causality test suggesting a three-day delay for wealth effects to manifest in consumer behaviors.
Bored Ape Yacht Club (BAYC) holds a significant place in the NFT market, with its highest sale reaching $2.85 million, paid in ETH. Each of the 10,000 unique BAYC NFTs features distinct artistic traits.
The Granger causality test reveals that the correlation between Otherside's HPI and APE is 0.9211, indicating a strong relationship where changes in wealth lead to behavioral changes.
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