One NFT = one suite
Today, the price of an NFT of "Bored Ape Yacht Club" is almost the same as a house in a second-tier city.
Before the Lunar New Year period, the NFT market once again entered a period of explosive growth, and various NFT projects emerged in large numbers, including Crypto Coven (witch) whose main female role was out of the circle, azuki representing the two-dimensional culture, and domestic top-notch Lengtu and Ahri will be online soon.
But in the NFT track, the most representative at present is the "boring ape" BAYC, with the support of stars such as NBA stars Stephen Curry, Shaq O'Neal, investor Mark Cuban, singer Justin Bieber, etc. , the floor price also broke through 100ETH in the wave, calculated according to the market value, now if you wantThe purchase of BAYC will cost at least USD 310,000 (approximately RMB 1.97 million), which is comparable to a house in a second-tier provincial capital city in China.
According to the 2021 housing price data of provincial capitals released by the China Real Estate Research Institute, the average housing prices of provincial capitals are mostly in the range of 10,000 to 20,000. If we calculate based on the purchased area of 100 square meters,Then owning a BAYC NFT will be equivalent to buying a set of real estate with a price not higher than 19,700 yuan per square meter. Except for several major cities such as Beijing, Shanghai, Guangzhou, Shenzhen, Hangzhou, and Nanjing and Tianjin, a set of real estate in other provincial capitals is even far away. Less than the value of a BAYC.
If measured by domestic per capita disposable income, the current floor price of BAYC is 25 times that of the No. NFT of Zhang BAYC,If BAYC does not increase its price, it needs to work for at least 25 years, and at this time, BAYC is even less than 10 months away from its birth.
In April 2021, a team called Yuga Labs launched an NFT project called Bored Ape Yacht Club, a digital collection issued on Ethereum, consisting of 10,000 unique Bored Ape NFTs, and the NFT image Traits are generated programmatically, including emotes, headgear, clothing, etc., and various traits vary in scarcity.
At the beginning of the launch, BAYC did not cause much market sensation. At that time, the cost price of BAYC mint was 0.08 ETH, and there was no price level. In the initial mint period, BAYC took nearly two hours to sell out, which is different from many The phenomenon of the NFT project being launched on the second space has formed a great contrast, but the subsequent development of BAYC and the blessing of many stars have made many people marvel at the superb operation methods of Yuga Labs.
A month after BAYC launched, billionaire Dallas Mavericks owner Mark Cuban received his own “boring ape” to display in his Lazy.com NFT gallery. Later, Stephen Curry purchased an NFT of BAYC for 5.7 ETH, which led to a sharp increase in the floor price of BAYC that month. fromFrom May to the end of August 2021, BAYC rose from the initial 0.1ETH to 44.1ETH, with an average price increase of nearly 440 times. After that, more and more stars began to join the BAYC camp. Former NBA star Shaquille O'Neal, rap superstar Eminem, world-renowned singer Justin Bieber, NBA chairman Daryl Morey, domestic Chen Bolin, Shawn Yue, etc. are all open for purchase BAYC's NFT.
Looking back at the less than one year since the birth of BAYC, its floor price has increased by 1250 times,At the same time, it is also an NFT that is most sought after by stars at home and abroad. The current BAYC is no longer within the reach of ordinary people.image description
BAYC historical price changes (unit/ETH) Source: dune.xyz
As of February 8,BAYC has a market value of US$806 million and a total transaction volume of US$1.29 billion, accounting for 5% of the entire NFT market transaction value.If BAYC can continue its previous popularity, it will only be a matter of time before it surpasses CryptoPunks in terms of transaction volume (CryptoPunks currently has a total historical transaction value of 2.55 billion US dollars), and the floor price of BAYC is unmatched in the current NFT field.
One of the main reasons why the price of BAYC remains high is that there are a lot of celebrity blessings. In addition to celebrity effects and their huge fan base, NFTs that have been patronized by celebrities also have an extra layer of halo, which is like a famous painting. It will also generate a premium because of well-known collectors. After the blessing of celebrities, BAYC will have a natural scarcity and sense of luxury in terms of identity. In this round of NFT upsurge,Marketing methods like BAYC, which rely on star effects and star IP, have also become a practice in the development of NFT projects.
Have you ever had such a question, is it a coincidence that so many celebrities support BAYC? If only one or two stars like BAYC, I think it can be a coincidence, but from NBA stars to singers, artists, entrepreneurs and many other fields, and every two months there will be a top star on BAYC, which will make People naturally suspect that there is a planned marketing behind these series of events, and this kind of marketing is extremely sophisticated and very successful. So instead of regretting missing out on BAYC, focus on the teams and marketing leaders behind these events, like Nicole (@vstrangeYUGA) as co-CEO of BAYC, @SodaOps as COO. According to BAYC's script, it is foreseeable that there will be news of a certain star's blessing to BAYC at some point in the future.
Compared with Yuga Labs' strides, CryptoPunks, another major NFT brand, began to be questioned by the community in a chaotic decision.
Larva Labs, as the creative team of CryptoPunks, has released two versions of CryptoPunks successively. The V1 version was abandoned due to contract issues. Now the well-known CryptoPunks belong to the V2 version, but many people regard the V1 version as a historical relic for trading , but as an official, there needs to be a center of gravity and the community cannot be divided, so Larva Labs once bluntly stated on Twitter"V1 Punks is not official Cryptopunks now, we don't want it", but what is puzzling is that recently the creative team of Larva Labs sold dozens of V1 Punk by themselves, making a profit of 210 ETH (about 622,000 US dollars). This inconsistent argument has been criticized by community users .
On December 22, 2021, the floor price of BAYC also officially surpassed that of CryptoPunks, becoming a big brother in the NFT track. In fact, whether it is the current NFT project or the DeFi project, the competition is more about the ability of the community to operate. Any encryption project can no longer be separated from the community, and it runs counter to the collective will of the community, which often makes the development of the entire project fall into a quagmire .
For BAYC, in addition to the star effect, the expectation of BAYC issuing Token and the community benefits for holders will further promote users' reluctance to sell. Previously, for BAYC holders, the airdropped Mutant Ape Yacht Club and Bored Ape Kennel Club Project NFT, the floors of the two are currently 19.78ETH and 8.85ETH respectively. According to the current price, it is equivalent to an airdrop of 84,000 US dollars to BAYC holders.
Whether it is the free NFT provided by Yuga Labs to BAYC holders, or other exclusive products and event benefits, BAYC is sparing no effort to create an ultimate sense of identity, and this sense of identity will be based on star effects and other factors. Under the influence, it has been continuously strengthened, forming a solid alliance between the community and the project party, but when the price of an NFT is similar to a set of real estate, it has become a game that only a few people can participate in.
