Today, I will talk with you about the investment value of Boring Ape.
On April 30, in the article “Written Before The Boring Ape Sells Land,” I wrote the following:
“I believe that this grand banquet ended in a happy situation, but I also vaguely feel that the peak of prosperity may also be the turning point of its prosperity and decline. The ancient Chinese often said that “the moon will lose money”. This is the truth. From ancient times to the present, everything has never been out of this law.”
Looking back now, although there were a lot of complaints about the handling fee during the land sale, the record-high transaction volume of Otherdeed in general proved everyone’s enthusiasm, and proved that this time the land sale was still relatively successful.
But what about the floor prices of the various species in the Boring Ape family after the land sale? As of the time of writing, the boring ape dropped from a high of nearly 150 ETH before the land sale to 107.9 ETH, the mutant ape dropped from more than 40 ETH before the land sale to 25.7 ETH, and Otherdeed dropped as the trend faded. to 3.77 ETH.
Obviously, the prices of the boring ape and the mutant ape have dropped sharply, and the price of the land is also lower than the selling price + handling fee at that time.
Based on the cooling down of this trend, many people on the Internet believe that Boring Ape has now changed from a community project to a money-sucking tool controlled by VCs, and negative comments around this point have gradually increased. Many users even said that they have sold the boring ape in their hands because it no longer has investment value.
So is Boring Ape still worth investing in?
I think there is still.
First of all, for the participation of venture capital, I think it is a double-edged sword, good and bad, especially for a community project that claims to be decentralized, its negative impact is obvious.
However, other projects can choose to have or not to invest in venture capital, but for the boring ape that has developed to the present, I am afraid that it has no choice but to accept venture capital — not because it lacks money, but because it is short of money. It lacks greater brand influence.
For avatar projects, the threshold is not technology, but consensus, brand and recognition. The consensus, brand and recognition of Boring Ape is undoubtedly the No. 1 brand in its native ecology (that is, the encryption ecology), and what it needs next is to move towards a wider space–tradition Enterprises, business circles and elite circles in the society establish their brand influence in the traditional top fields.
To do this, relying solely on the previous community movement may be inefficient, and it is very likely that the latecomers will catch up. After the blessing of traditional top venture capital, it can rely on the resources of venture capital to quickly conquer the city in the traditional field, establish its position, and make itself the representative of Web 3.0 in the traditional field.
Secondly, when we look at the entire NFT field, Boring Ape has now become a well-deserved first brand. This “first” is not only reflected in the price of its NFT, but also in the execution, creativity, planning and operation of the team. Therefore, purely from a team point of view, the Boring Ape team is the top in this field.
So based on these two factors, it will be more and more difficult for other projects in the NFT field to catch up with the boring ape, and even to some extent, they will be left farther and farther by the boring ape.
Furthermore, from the perspective of the distribution method of the project side, this project has released 10,000 copies of the original Boring Ape, then 20,000 copies of the mutant ape, and then 200,000 copies of the current (Otherdeed). The strategy designed by the team It is that the price of each newly issued NFT is getting lower and lower, but each new NFT will be airdropped to the previous NFT holders.
I think it’s not just a means of financing, it’s a means of growing its own audience. Through lower and lower prices, more and more users will have the opportunity to join this ecosystem, and users who have previously held it will continue to see the benefits of joining this group.
On the one hand, this approach can continuously consolidate one’s own basic market, and on the other hand, it will continue to expand its own basic market.
This method seems to be very successful so far and very easy to learn. But it’s interesting that we’ve seen very few other projects follow suit and achieve similar results.
I think this is a repeat of the Internet head effect in the NFT field, and the effect of this repeat happening is more obvious. In this way, the boring ape will “suck blood” the entire ecology, gradually make other ecology sluggish, and make himself a dominant player.
Therefore, I think the various varieties of the boring ape system have investment value. The investment value here I think includes not only financial returns but also status returns. Therefore, based on these two factors, I think the priority of each species in this system is: Boring Ape (BAYC) > Mutant Ape (MAYC) > Land (Otherdeed) > ApeCoin.
The last ApeCoin has almost only economic value, while the top BAYC will bring people a unique identity experience in addition to its economic value.
It is one thing for a variety to have investment value, and it is another when to start it.
Are they priced right now?
For the moment: Due to the influence of the general environment, I think there will be large fluctuations in the next encrypted ecological market. Therefore, it is difficult to say whether the prices of various species in the boring ape ecology will continue to decline in the short term. , but the possibility exists.
If you have a strong risk tolerance and are looking at long-term investments, I think you can start now, but if you have a weaker risk tolerance, I think you should be cautious.
Finally, let’s say a digression: the boring ape has developed so far, is there no opponent anymore?
I don’t think it’s exactly the case. I think its opponent is likely to have emerged, and it’s in a corner, but it’s not necessarily the other top NFT projects we’ve seen.
“Starting from the community->accepting venture capital->going to tradition” is essentially a Web 2.0 approach. The only difference between it and traditional Web 2.0 projects is that in Web 2.0, when a project acquires initial users The project party needs to spend real money to attract users; while in Web 3.0, the meme culture quickly attracted the initial users and formed the initial community.
So the development path of the boring ape is essentially a repeat of the Web 2.0 way in Web 3.0. And this kind of reenactment has almost been performed to the extreme by the boring ape. Other NFT projects want to follow this path. The possibility of success is not to say no, but it is not great.
I think it must be another form that can catch up with the boring ape and emerge suddenly. We have to start from another dimension and return to the essence of the blockchain, maybe only then will we find the signs of it.
Posted by:CoinYuppie，Reprinted with attribution to:https://coinyuppie.com/the-investment-value-of-nft-boring-ape/
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