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Chinese Real Estate Giant Greenland Group Announced the Purchase of BAYC #8302 NFT

Via an official WeChat account, “Greenland G-You Zunxianghui”, a subsidiary of Chinese real estate enterprise Greenland Holdings Corporation Limited, has announced that it owns BAYC #8302 and used it as an NFT image for its digital strategy. The acquisition of the significant NFT comes as a part of events to commemorate the 30th anniversary of the establishment.

Greenland has existed as a corporate entity for the past 30 years, growing from a small company valued at around 20 million yuan to what it has become today, a trillion-dollar Fortune 500 company. In celebrating 30 years of existence and growth, the company, under the chairmanship of Zhang Yuliang has announced its plans to embark on a digital transformation exercise.

In line with the proposed transformation, an NFT image symbolizing Greenland Group’s digital strategy was launched. This is from the Bored Ape Club Yacht NFT category, particularly the BAYC #8302.

Choosing BAYC #8302 was not a random exercise. Rather, it is a calculated event with the significant symbolization of specific tenets within the Greenland Group’s evolution. The number 8302 has been broken down into parts to represent certain aspects of the current philosophy of the company.

First is the number “8” which represents the Homophonic “ba”. The number “30” signifies that the company has reached thirty years of existence. It represents the celebration of the 30th anniversary. Lastly, the number “2” means that Greenland Group is venturing into the second era of existence which involves the development of a digital strategy.

Putting these digits together arrives at the number 8302, which is the identification number of the BAYC NFT that Greenland Group has recently acquired. According to the announcement, Greenland identifies with the pattern and significance of the Bored Ape design, which is extremely simple. This means that Greenland will “unload its past glory, go into battle lightly, and create new glory with a fighting mentality, and strive to start a new development journey in the digital age”.

The Bored Ape Yacht Club series have in the past year grown to become one of the most popular categories of NFTs in existence. It was launched on April 23, 2021, consisting of 10,000 ape images with different characteristics and attributes.

The initial price of the Bored Apes in the early days of release was 0.08 ETH per NFT. This was the equivalent of about $200 at the time. Over the months, the prices of the BAYC NFTs have skyrocketed to significant levels. The average price of a single BAYC NFT as of the time of writing has risen to 74 ETH, equivalent to around $190,000, while the overall market value of the series currently stands above $1 billion.

The digital strategy that comprises Greenland’s next phase of development includes the building of Greenland G-World through VR and AR technologies, to connect virtual and reality and to achieve online and offline scenarios.

In addition, Greenland plans to share the NFT with the supporters of the Greenland Group. This will offer all their supporters the opportunity to have their first digital collection through Greenland G-World. It will also allow them to witness the digitization process of Greenland.

Already, multiple transfers of the NFT have been recorded on the NFT marketplace, Opensea. As of April 26, 2022, a sale price of 140 ETH worth about $410,000 was recorded after which more transfers have been recorded for the given NFT.

 

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