After the first BonklerNFT was sold for $125,000, the coin had another good day with a 120.3% increase in floor price, according to CoinGecko.
With a basis on the Ethereum blockchain, the NFTs reached an all-time high of 32.8 ETH ($58,666 dollars).
As of today, the price floor for Bonkler rests at $58,607, reflecting a considerable 24-hour sales volume of 15.00 ETH. Notably, a total of 33 NFTs have been minted, with ownership distributed among 24 distinct holders, resulting in a cumulative market capitalization of $1,934,039.
NFT Watch: Floor price of @BonklerNFT is up 120.3% today, reaching an ATH of 32.8 ETH 💫 pic.twitter.com/ON0RkLLKR0
— CoinGecko (@coingecko) May 18, 2023
At its core, Bonkler represents a year-long experimental finance art project, pushing the boundaries as a trailblazing reserve-backed NFT. The project’s Paced Generative Mint introduces a one-of-a-kind journey, gradually revealing rarities over the course of the year.
Through a fusion of speculative complex aesthetics and rarity, Bonkler’s design intentionally obscures traditional price discovery, creating an environment that fosters intrigue and exploration within the NFT landscape.
Part of its uniqueness comes from new Bonkler creations that materialize every 23 hours, captivating bidders with increments of 0.1 ETH, along with its incorporation of redeemable shares, which are encoded within each minted Bonkler and tied to its sale price.
Investors are presented with an opportunity to redeem these shares for ETH from the Treasury; however, this redemption process necessitates the burning of the corresponding Bonkler. This innovative approach adds a distinctive element to the world of financial art, providing investors with potential avenues for engagement and reward.
Although the project is relatively new, BonklerNFT made headlines when the first Bonkler NFT was sold for a staggering 60 ETH, or approximately $125,000, at the time of this writing. As the first sale in a collection of 400 Bonklers, this projected the market cap at $50,000,000.
The Bonkler collection’s blend of digital art and cryptocurrency showcases the NFT’s ability to make a lasting impact in the art world, which many believe is where the value stems from.
While it may be too soon to say how this will impact the industry, it may be the start of an ongoing change of perception, from art needing to be something tangible to something that can hold uniqueness in the digital space.
Source: Crypto News