Madonna, the iconic singer is the latest celebrity to add NFTs to her collection of rare artworks. She made the announcement via an Instagram post that showed that the singer bought some Bored Ape Yacht Club NFTs valued at $560,000. She has joined the league of celebrities that have flaunted high-cost NFTs which is increasingly becoming a status symbol among the super-rich.
According to the post, the collection was acquired through MoonPay. A fintech firm that makes it easy for investors to buy and sell cryptocurrencies and related assets. In the Instagram post, the star wrote:
“I finally entered the MetaVerse…My very own Ape! What should I name her? Thanks @moonpay,” Madonna wrote on her Instagram. “We all need protection from Evil Eye.”
Moved To An Unidentified Address
Records seen at Opensea, the popular NFT marketplace platform show that the fintech firm bought the artwork, BAYC #4988 for 180 ETH ($561,544 at the time of reporting). The same NFT was last purchased by another collector for 46.5 ETH ($144,973) last August. On Thursday, the premium Ape NFT was transferred to an unidentified address.
In January, an Ape NFT holder, Lindsey Byrnes posted a tweet comparing the appearance of her NFT with the singer’s “Justify my love” album photo. In her response, Madonna wrote that her NFT was an Ape well chosen. She then asked, “what next?” Since then, it has been rumored that the celebrity was planning to invest in BAYC NFTs.
Affinity To Non-Fungible Tokens
It may not be surprising to some market analysts that Madonna has joined celebrities that are interested in non-fungible tokens, especially considering that the musician’s manager, Guy Oseary is actively involved in premium NFTs.
Bored Ape Yacht Club NFTs are increasingly popular among celebrities. Last January, the sensational rapper Eminem bought BAYC valued at $450,000. Bored Ape Yacht Club creators recently launched the ApeCoin and are among the biggest players in the space having acquired some competing NFT platforms in the industry.
