What is it that Curry bought a monkey head for $180,000?

A few days ago, Curry changed his Twitter profile picture.

Since Kobe’s death, Curry has always used a photo of himself and Kobe as his Twitter profile picture. Today, Kobe still remains in the background of his Twitter, but his profile picture has been replaced by a blue cartoon ape. In his bio, he described himself like this: “Believers. Husband of Ayesha, father, son, brother of Riley, Ryan, and Canon. Warriors guard. Davidson Wildcats. BAYC. Philippians 4:13. “The other parts are well understood, including Philippians 4:13, Curry’s life creed “I can do all things”, only this BAYC may have touched everyone’s blind spots in knowledge.

What is it that Curry bought a monkey head for 0,000?

BAYC, full name Bored Ape Yacht Club (silly simian Yacht Club), this year April 23 launched by the ten thousand monkeys NFT (Non-Fungible Token, non-homogeneity tokens) consisting of Ethernet Square independent digital collections. Each ape is unique. They have different hats, costumes, expressions and backgrounds. In the story set by BAYC, these apes born in the encryption field have become billionaires, and life after financial freedom has become boring, so the Boring Ape Yacht Club was established to meet and play graffiti in a small bar. The founding team of BAYC is very grassroots, just 4 good friends in real life, two software engineers, a media practitioner and a trader.

When it was first launched, the product was priced at US$185 each. In early May, Pransky, a well-known collector in the NFT circle, paid attention to this project. After this big man who invested in hundreds of NFT projects announced on the social network that he had purchased more than 250 apes, BAYC’s sales and transactions surged. It was quickly sold out within two hours. Today, the price of the cheapest BAYC collection on the market has exceeded US$80,000. Curry bought the avatar for 180,000 US dollars, which is equivalent to RMB 1.16 million. This also made the topic of “Curry avatar” on the domestic related social media hot list, everyone is curious, why these pictures can sell so expensive?

To explain this, we must first explain what NFT is. In the early days of blockchain, everyone was using homogenized tokens to replace valuable things in reality. But people soon discovered that there are many valuable things in real life that are unique and irreplaceable. NFT (non-homogeneous token), due to its non-interchangeable and non-separable properties, enables it to anchor some real-world things in the digital space, which has caught our eyes. You can simply define it as a proof of ownership of a digital artwork. This digital artwork can represent a picture, a video, a piece of music, and a piece of text. As long as you purchase the NFT of this artwork, the Internet will recognize that it belongs to you from then on. You can profit by trading it, or you can collect it by holding it for a long time. In March of this year, the rock band Leon Kings sold their deluxe album for $50 through the NFT. The NFT version of Twitter CEO Jack Dorsey’s first tweet was bought by Malaysian cryptocurrency entrepreneur Hina Istavi for US$2.9 million. As long as you are interested in collecting, everything can be NFT, and everyone is a collector.

In the process of the booming development of blockchain and NFT, they are also eyeing the NBA. In August last year, we worked on the block chain explosion fire products Cryptokitties ( Ethernet cat) of Dapper Labs team launched their new product, called the NBA NBA Top Shot digital collection platform. The team received more than US$12 million in financing. Investors include not only Samsung, Coinbase Ventures, USV and other top investment institutions, but also Andre Iguodala, Spencer Dinwiddie and JaVale Mai Ji and other NBA stars.

What is it that Curry bought a monkey head for 0,000?

The main product of NBA Top Shot is their digital star card. In addition to the text and pictures of traditional printed football cards, digital football cards can also be presented in GIF or short videos. Generally speaking, similar to traditional star cards, the more popular the star and the higher the popularity of the stadium, the higher the card price it represents.

After the release, backed by the huge IP appeal of the NBA, the digital star card of NBA Top Shot quickly became one of the best-selling NFT products on the Ethernet. On January 23 this year, a digital star card of James sold for $75,000. Just two days later, a digital star card of Zion Williamson was sold for $100,000. Today, the highest transaction price of a digital star card has been fixed at US$210,000. The moment represented by that star card was a two-handed reflexive windmill slam dunk played by James against the Rockets in February last year. This action is very similar to a slam dunk made by Kobe when he was young. It is believed to be the Lakers’ No. 23 vs. No. 24. A tribute.

What is it that Curry bought a monkey head for 0,000?

Pranksy, who was a fan of BAYC, also spent US$800,000 to invest in a digital star card. Now he has only shot a small part of it, and has completely recovered the cost and made more than US$200,000 in profit. He still has value in his hands. A $3.1 million digital star card. Crazy basketball fan Juerg from Lithuania has also bought more than 100 digital star cards. He is also very optimistic about the prospects of this project: “From the NFT issued by NBA Top Shot, I can see a bright future.”

But on the other hand, the popularity of digital star cards is cooling. According to the official financial report, in February of this year, NBA Top Shot combined with NBA stars to broadcast the card opening package. Traditional sports media such as ESPN also began to pay attention to and report on this project. The total transaction volume of digital star cards was once as high as 224 million US dollars. But by July of this year, this number had fallen rapidly to 22.2 million US dollars. Many people in the industry believe that Dapper Labs lacks further market expansion for NBA Top Shot products. After buying a digital star card, collectors are very limited in what they can do in the future. This reduces the fun it brings to collectors.

What is it that Curry bought a monkey head for 0,000?

For most NFT players, they want to gain a sense of identity and a sense of belonging to the community when they are benefiting, rather than pure digital artwork. This feeling is that those who have collected Three Kingdoms or Water Margin character cards when they were young All of the children understand that if you have a complete set of cards, but there are no other people around you who can share this joy, how lonely would it be?

The BAYC that Curry joined meets this need of NFT players. In just a few months after its release, it has grown into a huge community. If you purchase the BAYC collection, you will be considered a member of the BAYC club, you can communicate with other members, you can paint on the graffiti wall of the club, and you can also enjoy various club benefits. In the Ape Follow Ape campaign launched by the BAYC community, most BAYC holders set their social platform account avatars as monkeys and follow each other. In addition to athletes like Curry, Ramelo Ball, and Josh Hart, there are also movie stars like Chen Bolin, Shawn Yue, and Huang Licheng. In the NFT market in June this year, grassroots BAYC’s cumulative sales amounted to 39.71 million U.S. dollars, surpassing star products in the NFT circle such as NBA Top Shot and CryptoPunks , and became the darling of the NFT market. In such an optimistic environment, the price of BAYC’s monkey head is naturally rising.

What is it that Curry bought a monkey head for 0,000?

People who don’t understand NFT may wonder why it takes so much money to buy a pile of mosaic color blocks stacked on top of each other. But its logic itself is reasonable: after many years, the world may not have a paper medium, or even an electronic screen in the physical sense. Everyone wears VR equipment or faces holographic projections. At that time, we In the next-generation Internet environment, how should we define the artworks we own? How should we define our own digital identity?

People don’t know when that day will come, and whether it will come at all. But this does not affect people’s plan for that day. Under the influence of the new crown virus, the relationship between people and the Internet has become closer. In 2020, the total amount of NFT transactions has directly risen from 600,000 US dollars to 250 million US dollars, and more and more people are choosing to invest in NFTs.

As for whether NFT is really a dividend of the times, or just a capital bubble, that is a question that ordinary investors need to think about. For Curry, who has just completed a four-year 215 million contract extension with the Warriors, why spend 180,000 dollars on an avatar, these are the four words we most envy:

Rich and capricious.

 

Posted by:CoinYuppie,Reprinted with attribution to:https://coinyuppie.com/what-is-it-that-curry-bought-a-monkey-head-for-180000/
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