Elon Musk, the CEO and founder of Tesla, created a surge in the BAYC floor price when he changed his profile image to a compilation of nonfungible tokens from Bored Apes (NFTs).
Musk’s Twitter avatar as of Wednesday shows a stack of Bored Apes in the middle, with Ape 5809 in the middle. Each of the NFTs has its own design and serial number, and they are all by different artists.
This is Elon’s new display picture on twitter:
Collectors of NFT are enamored with Bored Apes. Gas costs on Ethereum (ETH) skyrocketed into the thousands of dollars when Yuga Labs, the firm behind the Bored Ape NFT, introduced a new NFT project.
According to members of the NFT community, Elon Musk allegedly put a collage of “screenshotted bored apes” in his profile photo to mock NFT owners in response to the announcement. Others feel Musk is attempting to convey his interest in the field of nanotechnology.
Sotheby’s contemporary art specialist and co-head of digital art, Michael Bouhanna, was also quick to react, tweeting a screenshot of Musk’s page. Bouhanna tweeted that Mr. Musk should delete the avatar he designed for the Sotheby’s auction, implying that Mr. Musk did not own the NFTs.
Elon Musk has since tweeted to his 90.7 million followers, “I dunno… looks fairly fungible.”
Apecoin (APE) holders rejoiced, as their tokens increased in value by 20%. At the time of writing, almost 10 Bored Apes had been sold since the Tesla CEO revised his Twitter profile photo, and the floor price had risen by 10 ETH.
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