<p><span style="font-weight: 400;">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). </span></p> <p><span style="font-weight: 400;">“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. </span></p> <p><span style="font-weight: 400;">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. </span></p> <p><span style="font-weight: 400;">Simkins added E11EVEN is “excited about exploring marketing opportunities” with BAYC #11. This is its first purchase of an NFT. </span></p> <div id="attachment_128619"class="wp-caption aligncenter" style="max-width: 460px;"><img class="has-caption size-medium wp-image-128619" src="https://www.tbstat.com/wp/uploads/2021/12/BAYC-11-450x450.png" alt="" width="450" height="450" /><p class="wp-caption-text">Bored Ape Yacht Club NFT #11, now in the possession of E11EVEN Miami.</p></div> <p><span style="font-weight: 400;">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 <a href="https://www.prnewswire.com/news-releases/e11even-acquires-bored-ape-11-of-the-bored-ape-yacht-club-the-hottest-cultural-nft-collection-in-the-world-301450967.html">release</a>. </span><span style="font-weight: 400;">E11EVEN also announced in October that its real estate arm, E11EVEN Hotels and Residencies, has partnered with the crypto exchange giant </span><a href="https://www.theblockcrypto.com/linked/107210/ftx-tsm-e-sports-team-rename-deal-crypto"><span style="font-weight: 400;">FTX</span></a><span style="font-weight: 400;"> to begin accepting cryptocurrency for luxury high-rises and residential transactions. </span></p> <p><span style="font-weight: 400;">Miami has become a </span><a href="https://www.theblockcrypto.com/news+/107430/sunshine-and-low-taxes-why-crypto-companies-are-moving-to-miami"><span style="font-weight: 400;">hub for crypto companies,</span></a> <span style="font-weight: 400;">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. </span></p>