A similar NFT had gone for $40,000 weeks earlier. Today, the price of the least expensive Bored Ape, known as the “price floor” sits at around $70,000, according to NFTpricefloor.com.

NFTs are traded via blockchain technology, a form of data leger, and each NFT has its own identifying code and metadata, making each one irreplaceable. An art NFT is a digital file that does not ...