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Ex-Barclays Traders Join Digital Art Craze With Bored Ape Tokens

  • Traders’ collection features 70 Bored Ape Yacht Club images
  • Crypto and NFT boom resembles 1990s dot-com fever, they say
Bored Ape Yacht Club digital artwork from the collection of Ovie Faruq and Mike Anderson
Bored Ape Yacht Club digital artwork from the collection of Ovie Faruq and Mike Anderson
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Two former Barclays Plc traders have swapped junk bonds for unique computerized art, amassing a collection of Bored Ape Yacht Club nonfungible tokens in a bet on the growing lure of digital collectibles.

Ovie Faruq and Mike Anderson, former high-yield cash and derivatives traders, have amassed 70 images of apes in various states of boredom, and three Damien Hirst NFTs, among other digital images. They wouldn’t reveal the value of their collection, or specific ID addresses, citing security concerns, but a Sotheby’s auction in September of similar images gives a ballpark figure. A lot of 101 Bored Ape tokens was sold for $24.4 million -- and valuations have increased since.