13/01/2023 Bored Ape Collections Pump Ahead of Upcoming Sewer Pass NFT Mint

Yuga’s upcoming mint is free to holders of Bored Apes or Mutant Apes, pushing both collections to top spots on OpenSea on Thursday.

Mutant Ape Yacht Club #3850 (Yuga Labs)

Mutant Ape Yacht Club #3850 (Yuga Labs)

Bored Ape Yacht Club (BAYC), Mutant Ape Yacht Club (MAYC) and Bored Ape Kennel Club (BAKC) collections jumped to top spots on non-fungible token (NFT) marketplace OpenSea on Thursday following theannouncement of an upcoming free mint for Bored Ape NFT holders.

As of Thursday afternoon, MAYC, a 19,439-edition extension of the Bored Ape NFT ecosystem, was in the top spot onOpenSea, recording a 13% bump in trading volume over the last 24 hours. The floor price of the collection stands at around 17.5 ETH, or about $25,000 – a more affordable entry point for those looking to join the Bored Ape ecosystem.

BAYC, the 10,000 edition flagship collection, saw a 237% boost in trading volume over the last 24 hours, according to OpenSea, with its floor price hovering around 78 ETH ($111,000). BAKC, a companion collection for BAYC holders, also saw a 46% boost in trading volume in the past 24 hours. Its floor price stands at 9.1 ETH (about $13,000) as of Thursday afternoon.

The pump comes a day after parent company Yuga Labs announced that it would soon offer a “Sewer Pass” NFT mint that could be claimed for free by existing holders of BAYC or MAYC NFTs. Holders of a BAKC NFT can also pair their pet with a BAYC or MAYC NFT, which allows them to mint “a higher-tiered Sewer Pass,”according to Yuga Labs.

Each Sewer Pass grants access to a game called Dookey Dash, which instructs holders to reach a score above 0 to validate their Sewer Passes and "transform them into a mysterious power source." What this means remains unclear, though NFTs created from this month-long experiment will be part of a bigger narrative experience called "Chapter 1" at a later date,according to the project's roadmap.

Notably, Dookey Dash can be played an infinite number of times by Sewer Pass holders until gameplay ends on Feb. 15 – meaning that Sewer Passes will be able to be traded on the secondary market, allowing those outside of the Bored Ape ecosystem to participate.