Post Malone used the crypto fintech company MoonPay to acquire 2 BAYC (Bored Ape Yacht Club) NFTs for a tandem 160 Ethereum (ETH).
Malone bought an NFT from Bored Ape Yacht Club (BAYC), one of the largest NFT collections in the world, having 10,000 distinct digital artifacts on the Ethereum blockchain, for his latest collab with The Weeknd, “One Right Now” music video.
The video shows how Post Malone used MoonPay to purchase the NFT. As a crypto payments infrastructure company, MoonPay expects to reach a total of $3.4 billion the valuation for the venture capital round it is doing for the first time. The music video has garnered some 5 million views since its release earlier this week on Monday.
Post Malone acquired two additional BAYC for a tandem of 160 Ethereum (ETH) equivalent to $682,000, the process of which MoonPay announced via TikTok videos.
In one of the TikTok videos which since the release has gained more than 90k views, BAYC NFT #9039 is acquired for 85 Ethereum (ETH) equivalent to $362,000. The other video features BAYC NFT #961 from the music video, acquired for 75 Ethereum (ETH) equivalent to $320,000.
Reportedly, Post Malone earned considerably on the promoting of the NFT series and did not acquire the NFTs with his own funds. The Opensea NFT marketplace address owning the two BAYC NFTs shows a transaction receipt of 175 Ethereum (ETH) incoming from MoonPay in two transactions which were almost immediately used for purchasing the two BAYC NFTs. Post Malone was left with 15 Ethereum (ETH), amounting to $64,000.
The Etherscan verified address of Post Malone made some additional acquisitions via OpenSea, having added Ethereum (ETH) from Coinbase the week before.
Bored Ape Yacht Club, founded by Yuga Labs in April of this year is one of the most prominent NFT enterprises, with over $1 billion in trade since its start. After Mutant Ape Yacht Club and Axie Infinity, BAYC is the third largest NFT collection in the world.
The popularity of BAYC has been rising in the music industry as of late as many projects are unveiled. Four NFTs from the BAYC collection will be used in the performance of Kingship, the digital metaverse band, inspired by Gorillaz, the cartoon band.