Madonna has become the latest celebrity to purchase a Bored Ape, the latest non-fungible token (NFT) craze.
The team behind Bored Ape Yacht Club (BAYC), Yuga Labs, explains this NFT collection as follows.
BAYC is a collection of 10,000 Bored Ape NFTs, which are one-of-a-kind digital collectibles that live on the Ethereum blockchain.
According to a report published on March 24 by The Block, the 63-year-old singer posted on Instagram that she had "entered the metaverse" after purchasing Bored Ape #4988. A monkey wearing a "S&M" hat, chain, and sleeveless t-shirt appears in the NFT cartoon.
According to the article, MoonPay purchased Madonna's Bored Ape for 180 ETH ($560,000) last week, according to transaction records from the NFT marketplace OpenSea (it looks like this occurred on March 15).
The NFT was then transferred to a wallet believed to belong to Madonna, according to MoonPay. Over the previous year, MoonPay has been buying high-value NFTs for celebrities.
MoonPay transferred Bored Ape #1506 to a second wallet after purchasing and transferring Madonna's NFT, which has subsequently been discovered as being Wiz Khalifa's new Twitter profile photo.
The animation features a leopard-furred monkey with an eye patch, continuing the Bored Ape collection's celebrity mania.