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Support CenterNewsNon-Fungible Token(NFT) Market Cooling off? Popular Miami Nightclub E11EVEN Buys Bored Ape #11 for US$400,000
Non-Fungible Token(NFT) Market Cooling off? Popular Miami Nightclub E11EVEN Buys Bored Ape #11 for US$400,000
2021/12/28 18:58:05

E11EVEN Partners, the company behind the high-profile E11EVEN Miami nightclub, announced Monday that it purchased the prominent NFT 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.

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

Miami has become a hub 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.

(Article Courtesy of The Block)

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