NFT artist and collector Nathan Head earned $75,000 due to the launch of ApeCoin (APE), the official cryptocurrency of the leading NFT collection Bored Ape Yacht Club (BAYC).
Related: Bored Ape Yacht Club's Total Sales Surged Above $1 B
ApeCoin was launched via an airdrop that took place on March 17. In an interview with the business magazine Fortune, Nathan told how he received 10,950 tokens for $75,000 on the day, showing screenshots of the transactions. The APE price was about $6.8 at the time.
Talking about his emotions at the moment he earned the money, Nathan said it was a very surreal moment, and he couldn't believe it at first.
Nathan purchased a BAYC NFT last year worth around $4,100. He said at first he planned to hold his ApeCoins, but then changed his mind as the price was higher than he expected when tokens started trading on the market. .
APE price went even higher after Nathan sold his APE tokens. According to calculations, he could have made over $431,000. Nathan says although he feels lucky, it makes him a little sick that the price was more than doubled what he sold for. The current price of APE is about $13. Its market cap stands at over $3,7 billion.