The non-fungible tokens or NFTs may still not yet be out. Recalling the bull run of 2021, when some strange NFTs sold for mystifying prices, on this Monday an NFT of a key sold for $1.6 million that is equivalent to one thousand ether. As with most big-money NFT traded in recent times, the key has to do with the Bored Ape Yacht Club (BAYC).
The non-fungible tokens are simply blockchain tokens that certify ownership of a digital good. Whereas most NFT sales are meant to be done for profile pictures, such as the Bored Ape Yacht Club, which are similar to the digital equivalent of a Rolex (or, more often, bought for speculation).
What’s the story?
The big name company, Yuga Labs behind the BAYC has for the last two months been running an experiment with integrating games and a narrative into an NFT mint. A storyline, The Trial of Jimmy the Monkey, started in December with a really short film. This sees Jimmy open the spacetime continuum by taking “an atomic shit.” Out of the portal comes an anachronistic ape presenting a mysterious key which Jimmy accidentally swallows. And he runs to the bathroom to excrete it, but instead passes out.
This whole happening led to the game that is called Dookey Dash, an infinite runner. While the owners of BAYC NFTs were airdropped a Sewer Pass NFT that entitled them to play the game. At which they, as an ape, traverse via a sewer system to try to find Jimmy and then retrieve the key from his butthole. For real.
Notably, the Sewer Pass NFTs themselves were selling for thousands of dollars: there’s been $65 million in volume since they were airdropped to BAYC holders in mid of January this year.
Who’s the winner?
As a three-week competition the game was set-out. And the leaderboards closed earlier on this month with unspecified rewards given out based on top scores. “Amazingly, the top score was earned by an esports professional – an 18-year-old Brit named Kyle “Mongraal” Jackson, famous for his Fortnite streams.”
And then on February 15th, Mongraal’s Sewer Pass NFT was transformed into a key, the key from Jimmy’s butt.
Then on Monday, Mongraal shared that he wants to sell the key NFT for one thousand ether, which is currently worth $1.6 million. As per his tweet, “I have agreed to sell the key for 1000 ETH to @AdamWeitsman,” the esports pro tweeted. “Super nice guy and thrilled the sale went through to him.”
However, the trial of Jimmy the Monkey is a multi-phase experiment along with Dookey Dash and the key NFT being just the first step.