A DAO May Close Up Shop and Liquidate 81 Bored Ape NFTs

ApeDAO, the third-largest holder of Bored Ape Yacht Club NFTs, could announce its dissolution this week

January 31, 2022 03:55 pm

Bored Ape Yacht Club | Source: NTFS.WTF

The DAO’s NFT holdings are worth roughly $11.8 million, according to crypto data provider Zapper
Bored Ape Yacht Club NFTs currently have a floor price of $309,353 of ether, according to OpenSea

Voting is underway for a DAO to liquidate millions of dollars of non-fungible tokens in its treasury, including blue-chip collections such as Bored Ape Yacht Club (BAYC), CryptoPunks and Cool Cats.

ApeDAO, a decentralized autonomous organization founded by pseudonymous NFT collector KyloRen, is voting to sell 81 Mutant Apes and 81 Bored Apes, among other pricey NFTs. Bored Ape Yacht Club NFTs currently have a floor price of $309,353 of ether, according to OpenSea.

Potential disbandment of the DAO is reportedly due to discontent members raising concerns over its governance token’s $APED’s price.

Newsletter

Subscribe to The Breakdown

“Given the current gap between $APED price and net asset value of DAO holdings, liquidating the DAO would generate substantial returns for $APED Holders,” the DAO said in its proposal.

If the assets are liquidated, the funds will go back to its token holders. The DAO has a rough net worth of $11.8 million in its NFT holdings, according to crypto data provider Zapper.

The group’s members have until Feb. 2 to vote on the DAO’s dissolvement. Around 85.6% of votes have been in favor of liquidating its assets thus far, according to decentralized voting platform Snapshot.

Liquidating the DAO’s NFTs could provide as much as 8 ether per 1,000 $APED tokens, according to the proposal.

ApeDAO did not immediately respond to Blockworks request for comment.

Get the news in your inbox. Explore Blockworks newsletters:

The Breakdown: Decoding crypto and the markets. Daily.
0xResearch: Alpha in your inbox. Think like an analyst.
Empire: Crypto news and analysis to start your day.
Forward Guidance: The intersection of crypto, macro and policy.
The Drop: Apps, games, memes and more.
Lightspeed: All things Solana.
Supply Shock: Bitcoin, bitcoin, bitcoin.

Tags

Newsletter

The Breakdown

Decoding crypto and the markets. Daily, with Byron Gilliam.

Upcoming Events

Digital Asset Summit 2025

Old Billingsgate

Mon - Wed, October 13 - 15, 2025

Blockworks’ Digital Asset Summit (DAS) will feature conversations between the builders, allocators, and legislators who will shape the trajectory of the digital asset ecosystem in the US and abroad.

buy tickets learn more

recent research

Research

ZORA: Fundamental Divergence

We believe that few tokens at the application layer are diverging more from fundamentals than ZORA. Its fully-diluted P/S sits at 90x, pricing significant growth despite a consistent decline in weekly revenues since late July. We foresee an 80% decrease in protocol net margins due to a recent update to the fee structure that reduces trading fees from 3% to 1%, while boosting creators’ portion of the fee split. ZORA’s supply overhang also represents a near-term headwind, with 45% of ZORA’s supply (4.5B tokens or $350M at current prices) earmarked for the team & investors beginning to unlock on October 23, 2025 (36-month linear vesting schedule).

by Carlos Gonzalez Campo