E11EVEN Partners, the company behind the high-profile E11EVEN Miami nightclub, announced Monday that it purchased Bored Ape Yacht Club (BAYC) #11 for 99 ETH ($396,000).

“After studying BAYC for some time, we started to notice traits that resonated with E11EVEN. Believe it or not, our favorite Ape just happened to be #11," E11EVEN Partners owner Michael Simkins told The Block in an email.

Simkins said his firm contacted the owner of the non-fungible token (NFT) via Discord. "At first they were hesitant to sell, but after some back and forth we were able to come to a mutual agreement," he said.

Simkins added E11EVEN is “excited about exploring marketing opportunities” with BAYC #11. This is its first purchase of an NFT.

Bored Ape Yacht Club NFT #11, now in the possession of E11EVEN Miami.

The nightclub has already processed over $4 million in cryptocurrency payments since it first began accepting crypto in April of this year, according to arelease.E11EVEN also announced in October that its real estate arm, E11EVEN Hotels and Residencies, has partnered with the crypto exchange giantFTXto begin accepting cryptocurrency for luxury high-rises and residential transactions.

Miami has become ahub for crypto companies,thanks in large part to its crypto-friendly mayor, Francis Suarez, and local tax policies that allow firms to forgo paying property taxes for a long period of time.