Popular Miami nightclub E11EVEN buys Bored Ape #11 for $400,000


E11EVEN Partners, the company behind the high-profile E11EVEN Miami nightclub, announced Monday that it purchased Bored Ape Yacht Club (BAYC) #11 for 99 ETH ($396,000). 

“After studying BAYC for some time, we started to notice traits that resonated with E11EVEN. Believe it or not, our favorite Ape just happened to be #11," E11EVEN Partners owner Michael Simkins told The Block in an email. 

Simkins said his firm contacted the owner of the non-fungible token (NFT) via Discord. "At first they were hesitant to sell, but after some back and forth we were able to come to a mutual agreement," he said. 

Simkins added E11EVEN is “excited about exploring marketing opportunities” with BAYC #11. This is its first purchase of an NFT. 

Bored Ape Yacht Club NFT #11, now in the possession of E11EVEN Miami.

The nightclub has already processed over $4 million in cryptocurrency payments since it first began accepting crypto in April of this year, according to a release. E11EVEN also announced in October that its real estate arm, E11EVEN Hotels and Residencies, has partnered with the crypto exchange giant FTX to begin accepting cryptocurrency for luxury high-rises and residential transactions. 

Miami has become a hub for crypto companies, thanks in large part to its crypto-friendly mayor, Francis Suarez, and local tax policies that allow firms to forgo paying property taxes for a long period of time.

Trending Stories

Get Your Crypto
Daily Brief

Delivered daily, straight to your inbox.

5 Steps to a Successful Crypto AML Program

As cryptocurrencies become increasingly mainstream, regulators, the media and policymakers are paying more attention to the financial crime risks associated with them. But what are the biggest compliance challenges crypto firms face, and what does a best practice AML program look like? 
Read Full Story
Sponsored Post

Layer-2 Scaling Solutions: A Framework for Comparison - Commissioned by Polygon

Ethereum had a breakout year in 2021. It’s native asset, ETH’s, market capitalization surpassed $500 billion for the first time. Its network facilitated upwards of $7 trillion value transfer. Non-fungible tokens (NFTs) emerged as another “killer application” that have put its technology on the global stage and caught the attention of the masses.
Read Full Story
May 5, 2022, 3:17PM UTC

The TRON Ecosystem Thrives Amidst Market Chaos

TRON DAO has announced the launch of a $10 million incentive fund in light of recent events to support Terra developers migrating to the TRON ecosystem, including TRON’s EVM compatible cross-chain solution BitTorrent Chain (BTTC), which helps facilitate the seamless transfer of assets across mainstream public chains, including TRON, Ethereum, and BNB Chain. 
Read Full Story
Sponsored Post