Eminem is a Grammy Award-winning rapper. Earlier this week, reports emerged that he had joined the Bored Ape Yacht Club (BAYC) by acquiring one of the non-fungible token (NFT) apes for 123.45 ether ($462,000) on the OpenSea platform.
The popular Detroit rapper joined BAYC by buying the NFT named ‘EminApe’. This NFT depicts Eminem’s iconic Bored Ape figure that is wearing a gold chain necklace and a khaki army cap. Both of these wearables are the ones that Eminem frequently wears in real life. GeeGazza is the BAYC member who sold the digital artwork to Eminem for 123.45 ETH, which translates to around $450,000.
In November last year, GeeGazza tweeted:
I still think Eminem is destined to buy my @BoredApeYC one day.”
Six, a digital agency that has in the past worked with celebrities in the nonfungible token sector, including Tycho, Wu-Tang Clan, and Galantis, hosted this transaction. This is not the first time that Eminem has invested in the NFT space. Through the moniker “Shady Holdings,” the musician now has 15 NFTs on OpenSea.
Through a tweet, BAYC member GeeGazza thanked Eminem for buying the NFT. He wrote:
I’m living in a simulation. Madness. Let me write a lyric in your next single.”
I’m living in a simulation.
Thank you @Eminem for buying my ape and joining the club!
Madness. Let me write a lyric in your next single 🤣 pic.twitter.com/myGNRmMLeD
— GeeGazza (@Gee__Gazza) December 31, 2021
Eminem Holds NFTs From Various Collections
Slim Shady has 166 NFT assets from 32 collections, as documented by dappradar.com stats. After acquiring BAYC #9055 for 123.45, the address now has 1.52 Ether. Eminem got 124 Ether from an account called georgio.eth on ENS. The account has 504 NFTs from 51 collections, including Bored Ape Yacht Club #4936. It also spent 43.98 ether ($164,832) on a pair of CryptoPunks.
Shaq Gives Back #4077, SABC #2615, and Adult Fantasy Sub-Dude (130/151) are some of Eminem’s other NFTs. In reality, the Shady Holdings address has a slew of ERC721 NFTs.
Eminem’s NFT spending comes on the back of his beat-inspired animated NFTs for Stans that he released in April 2021. His NFT sale happened on the Nifty Gateway NFT platform. Paul Rosenberg and Slim Shady also joined several venture funds that invested $30 million in the nonfungible token market Makersplace in August 2021.
Eminem has now officially joined the second-biggest NFT project on OpenSea by volume with the acquisition of the new EminApe. Based on data acquired from CryptoSlam, the BAYC has already sold up to 284,765 ETH ($977.6 million) in secondary transactions. In that context, the floor price is now set at 60 ETH ($220,000).
The Detroit rapper joined the ranks of several other celebrities who have invested in the NFT space including talk show presenter Jimmy Fallon and NBA player Stephen Curry. Recently, Bored Apes exceeded CryptoPunks in the terms of the floor price. That was a major accomplishment for a project that just launched in April 2021.
Experts and analysts believe that 2022 will be a great year for the NFT industry. With that in mind, the Bored Apes platform is expected to grow even further in the coming months. Many celebrities and famous people are expected to invest in the nascent space that exploded in 2021. More regulations are also coming in to control the nascent crypto and NFT spaces which many believe will enable these fields to mature faster.