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ART & COLLECTABLES

The Incredible Return on Investment of Minting and Keeping a Bored Ape NFT From the Start

Holders of the bored Ape NFT sit on a bag of cash, but how much would they have profited if they had minted and held a single ape since the beginning?

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#nft #nfthours #bayc #boredapes

From the purchase of the iconic CryptoPunks to creating the ApeCoin, the Bored Ape Yacht Club NFT collection made news recently with multiple bombshell announcements.

The APE token’s introduction was as turbulent as one might imagine, with the cryptocurrency dropping to a low of roughly $6 before rising to around $11.

Given the current state of the BAYC ecosystem, we decided to calculate the approximate return on investment (ROI) of minting and keeping one Bored Ape NFT (and the related claimables) till now.

Yuga Labs, the company behind BAYC, has released three NFT sets thus far. They also released the Mutant Ape Yacht Club collection, in addition to the legendary Bored Apes. MAYC contains the mutant version of Bored Apes, which has 18,338 NFTs. BAYC, on the other hand, only possessed 9,999 NFTs.

The Bored Ape Kernel Club, a collection of canine companions of Bored Apes, was also released. There are 9,602 individual NFTs in the Shiba Inu collection. The three collections are now ranked first, second, and fourth in terms of projected market cap among NFTs.

Staggering BAYC Returns

When the Bored Ape Yacht Club was released in April 2021, the mint price was 0.08 ETH. That was the equivalent of $192 at the time. Even lower was the collection’s floor price, the price of the least valuable NFT—the cheapest Bored Apes sold for around 0.03 ETH, or approximately $70.

After only nine months, the BAYC floor price has risen to 100 ETH, or around $290,000. This represents a 145,000 percent gain. Of course, this is merely for the floor price NFTs; there are a few that sold for millions and gave even better returns. But that’s not all; let’s look at the additional value of receiving the MAYC airdrop and minting a Kennel.

The Mutant Apes are made by feeding a Bored Ape one of three possible serum versions, and the serum was initially airdropped to users. As a result, a new NFT was created, which is now part of the Mutant Ape Yacht Club collection and has a floor of 22 ETH, which is around $64K. The calculations are conservative because this is the floor pricing.

Last but not least, we have the Bored Ape Kennel Club on the NFT front. The collection has a current floor price of around 8 ETH, almost $23K. Unfortunately, the collection wasn’t delivered by air, but BAYC owners may claim their companions for the cost of the mint’s gas.

With all of this in mind, holding a single Bored Ape NFT and putting it through the MAYC and BAKC iterations would net the owner $377,000 so far. That’s not all, though.

Enters the APE Airdrop

On March 17th, BAYC debuted the APE coin, which was distributed to all holders of BAYC-related NFTs in varying amounts.

If you only have one Bored Ape NFT, you’ll get 10094 tokens, but you’ll get a lot more if you also have MAYC and BAKC NFTs. A mutant ape and a kennel club NFT, for example, would net you 2898 tokens. For simplicity, let’s say that each BAYC NFT bearer gets 10100 APE.

This is currently worth around $110,000, though the token has been trading above these rates for a few days, so this is a conservative estimate once again. However, given that it did decrease to a low of roughly $6, people likely sold for less. So, let’s draw a line somewhere in the middle and say the average was $100,000.

This would make minting and owning a single Bored Ape worth $477,000, undoubtedly making it one among the finest crypto investments.

ART & COLLECTABLES

Ford is getting ready to enter the Metaverse with digital cars and NFTs

A month after the company announced significant personnel reductions, it has filed a trademark application covering its future initiatives in the Metaverse and NFT space.

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Ford Motor Company, an American automaker, has filed 19 trademark applications across its key automobile brands as it prepares to enter the realm of nonfungible tokens (NFTs) and the Metaverse.

Mike Kondoudis, a trademark attorney licensed by the United States Patent and Trade Office (USPTO), disclosed in a tweet on Wednesday that the business had submitted a total of 19 trademark applications covering its car brands, including Mustang, Bronco, Lincoln, Explorer, and F-150 Lightning, among others.

The trademark applications include a projected online marketplace for NFTs and virtual versions of its businesses’ automobiles, trucks, vans, SUVs, and clothes.

Ford intends to produce digital images of its vehicles, SUVs, trucks, and vans that will be verified by NFTs, according to USPTO filings submitted by the automaker on September 2.

The business also disclosed plans for “downloadable virtual commodities,” or “computer programs,” that would include apparel, accessories, and parts for vehicles for usage in “online virtual environments,” such as virtual and augmented reality trade exhibitions.

Additionally, there are plans to develop an online marketplace for “others’ digital artwork” as well as “online retail shop services featuring non-fungible tokens (NFTs) and digital collectibles.”

Less than a month after Ford Executive Chairman Bill Ford and CEO Jim Farley announced significant personnel reductions from its global workforce to decrease corporate expenses; Ford has decided to enter the Web3 area.

Ford isn’t the first automaker to enter the Metaverse market.

While premium automakers like Bentley and Lamborghini have already launched NFT collections, automakers including Nissan, Toyota, and Hyundai have indicated ambitions to enter the fast-expanding Metaverse market.

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ART & COLLECTABLES

Crypto-Vultures Profit from the Death of Queen Elizabeth

Only a few hours after the Queen’s passing, more than 40 meme tokens bearing her name have been released.

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Yesterday, according to Buckingham Palace, Her Majesty Queen Elizabeth II passed away. Although her loss triggered a global outpouring of sympathy and grief, it has also been exploited as a money-grab.

Elizabeth II, monarch
Grift endures eternally, but the Queen is gone.

There are over 40 meme coins on Ethereum and the Binance Smart Chain thanks to Queen Elizabeth’s passing (and at least one exploitative NFT collection).

While the news of the British monarch’s demise saddened people worldwide, cryptocurrency scammers took advantage of the occasion to launch dozens of meme coins with Queen themes on Ethereum and Binance’s BNB Chain.

Among the new crypto coins that were introduced are “Queen Elizabeth Inu,” “Queen Doge,” “God Save The Queen,” “London Bridge Is Down,” “Queen Grow,” “Rip Queen Elizabeth,” “Elizabeth II,” and “Queen Inu II.” Other tokens with the name of the next king, King Charles III, have also appeared. According to DexScreener, at least 40 separate meme coins appear to have been produced in the previous six hours.

The most liquid tokens, Save The Queen and Queen Elizabeth Inu, have already processed trade volumes of around $700,000 and $200,000 since their debut. At the time of writing, the price of Queen Elizabeth Inu is up 1,517%, while it has increased by 23,271% on Binance Smart Chain and 3,708% on Uniswap. Prices are incredibly unstable and exceedingly unlikely to persist.

The “Queen Elizabeth 69 Years NFT” NFT set has reportedly been produced. One image is said to represent each year of the Queen’s reign in the collection. The project’s aims should be questioned because Elizabeth II reigned for 70 years, not 69.

The crypto community, typically known for its gallows humor, mainly reacted negatively to the initiatives. When told about the NFT collection, NFT aficionado ThreadGuy said, “You’re going to hell.” Trader Byzantine General declared, “We’ve got to stop this crypto stuff.”

In 1926, Queen Elizabeth was born. She was the longest-reigning British monarch in history and passed away in Balmoral Castle at 96.

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ART & COLLECTABLES

One crypto sector, according to billionaire Chamath Palihapitiya, is experiencing a classic bubble cycle

One crypto sector may be going through a typical hype cycle, according to billionaire investor and software entrepreneur Chamath Palihapitiya.

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In a new episode of the All-In podcast, the CEO of Social Capital discusses the sharp decline in trading volume in the non-fungible token (NFT) market.

Palihapitiya offers Coachella and Burning Man as examples of major music festivals that strive to be distinctive but may wind up being mostly the same.

The billionaire contrasts NFTs and the overall art market with the two music events.

“I do believe that there is something going on; the simplest way to explain this is with the Burning Man/Coachella scenario. Many of these things are similar, but when some people approach anything new, they are too insecure to accept that it is similar to another item, so they spend a lot of time attempting to convince you that it is different. When someone says that a time is different, it’s probably not that different, as stated in the Warren Buffett quote, is an example. Or consider the other famous historical adage, “Things don’t always repeat in history, but they rhyme.”

All of this is meant to imply that, aside from major advances in science, not much new has been discovered recently. We keep repeating the same patterns, and one of them is the social capital that comes from making certain decisions and then having those decisions validated by others in order to feel valuable. And this occurred in NFTs, as well as, I’m sure, in the initial stages of several artistic movements. These events are more comparable than dissimilar because they have presumably occurred in a number of other markets as well.

Burning man and Coachella are same. The art market and NFTs are both the same. It doesn’t need to be unusual; you can simply appreciate it because you think it’s cool. I would just take it with a grain of salt and tell anyone who comes to you asking why it’s so different.

DappRadar reports that earlier last week, trading volume on popular NFT marketplace OpenSea reached a one-year low.

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