After a frenzied burst higher in NFT activity at the end of August captured by the OpenSea platform which has rapidly emerged as the premier NFT marketplace in the world, and which saw some ridiculous prices shelled out for blockchained certificates of jpgs, a rapid activity reversal emerged shortly thereafter sending activity sliding almost as fast as it had risen, prompting many to wonder if the NFT bubble had burst for the second time (the first being its initial arrival in the first quarter when NFTs took the world by storm only to fade away) and hammering the price of ethereum.

Turns out that was not the case, not even close according to the latest news out of auction house Sotheby's which reported this morning that a bundle of 101 NFTs from Bored Ape Yacht Club just sold at Sotheby's for $24.4 million. A second bundle of 101 Bored Ape Kennel Club NFTs sold for $1.8 million. The Verge first reported the insane transaction, which many have speculated is nothing more than money laundering by bored Ethereum holders.

That auction puts the ape sale among the biggest in the NFT space. A bundle of nine CryptoPunks, one of the earliest NFT projects, sold for $16.9 million in May. And Beeple sold a collage of his works as an NFT for $69 million in March when the NFT craze was just getting started.

While it's hard to directly compare all of these sales (there are 101 items in today's auctions versus one in Beeple's), the purchases show that the appetite for NFT art isn't dying down, and they suggest that buyers think there'll be high resale value as the market continues to grow. It is also supportive of Ethereum prices which has lagged in recent days even as Solana, dubbed the "Ethereum killer" has soared.