Zhu Xiaohu and Cai Wensheng have all come to Chinese companies and investors to follow suit and buy “Boring Ape” NFT

“Ape Universe” is on the rise, and Chinese investors can’t sit still.

It was reported on May 2 that following Zhu Xiaohu and Cai Wensheng, LinkVC founder Lin Jiapeng and Tongzhou Capital founding partner Zhang Dao purchased a “Boring Ape” NFT respectively and joined the “Boring Ape Yacht Club”.

Zhu Xiaohu and Cai Wensheng have all come to Chinese companies and investors to follow suit and buy "Boring Ape" NFT

Boring Ape series, from OpenSea official website

After Chinese music singers such as Jay Chou and Lin Junjie took the lead, Chinese investors also began to follow the NFT craze.

On April 30, according to OpenSea data, an address named “allenzhu.eth” bought the “BAYC #9279” serial number Boring Ape at a price of 170 ETH (about $500,000), and Jinshajiang Venture Capital Management The English name of partner Zhu Xiaohu is Allen Zhu. At the same time, Zhu Xiaohu’s latest WeChat avatar has also been updated to “BAYC#9279” avatar.

Obviously, Zhu Xiaohu, who has voted in well-known cases such as Ele.me and Inke, is the holder of “allenzhu.eth”.

On May 1, Cai Wensheng, chairman of the Hong Kong-listed company Meitu Group, also bought a “boring ape” NFT, and said that he was troubled by the boring ape.

It is reported that Cai Wensheng, a “veteran of currency speculation”, posted on his Moments, “I was Fomo, I couldn’t help but bought BAYC #8848 for this Otherdeed #8848 land.”

OpenSea data shows that on May 1, Cai Wensheng’s Ethereum address longling.eth bought BAYC #8848 for 187 ETH (about $560,000). In addition to this, the address also holds several other series of NFTs such as CryptoPunks.

It is worth noting that Meitu is also the first Hong Kong-listed company in China to include Ethereum on its balance sheet.

The so-called “Fomo”, the full name is “Fear of missing out”, translated as “fear of missing out”, but in the context of the Internet generally refers to anxiety and follow-up behavior caused by fear of missing a stock, trend, or hot spot.

On May 2, LinkVC founder Lin Jiapeng and Tongzhou Capital founding partner Zhang Liaodao also purchased Boring Ape BAYC #4051 and BAYC #1581 series NFTs for 130 ETH (about 400,000 US dollars) and 133 ETH respectively.

In addition to investors spending hundreds of thousands of dollars on avatars, listed companies have also joined the ranks.

On April 29, Greenland Group, a Chinese real estate company, announced on its official account that it had purchased BAYC#8302 and launched it as the NFT image of Greenland Group’s digital strategy.

Greenland Group then opened a Twitter account, using the purchased BAYC#8302 as a Twitter avatar, and the account introduction was “Let’s create something together in this new #Web3 world”.

On April 30th, Beichuan, a listed company on the Science and Technology Innovation Board that makes healthy and intelligent hardware, also announced the official purchase of the BAYC series #1365, which became the second after Li Ning purchased the BAYC #4102 and Greenland Group purchased the BAYC #8302. of new members.

With the favor of so many companies and investors, the transaction volume of Boring Ape NFT has increased significantly recently.

According to NFTGo.io data, the 24-hour transaction volume of BAYC series NFTs exceeded 52 million US dollars, a 24-hour increase of 107.23%; the total transaction volume reached 1.9 billion US dollars, and the total market value reached 1.11 billion US dollars. The current floor price is 134 ETH, a 24-hour drop of 14.07%. This means that the price of a boring ape NFT has reached hundreds of thousands of dollars, and the purchase threshold is extremely high.

Why do so many investors and companies follow the trend to buy “Boring Ape NFT” on the occasion of International Labor Day? Still related to the concept of the Metaverse.

One of the most direct reasons is that the Boring Ape series has recently launched a new project “Otherside”, which is the first step in the Metaverse project of the parent company “Yuga Labs” of the Boring Ape.

The so-called “Otherside” is a Metaverse game world that aggregates various NFT projects. It is jointly developed by Yuga Labs and NFT game publisher Animoca Brands, including the well-known CryptoPunks, Meebits, Cool Cats, etc.

On April 30, Yuga Labs announced that it will launch a new NFT designed for the game – “Otherdeed”, which is an NFT land project, similar to the previous “real estate NFT”, and wants to obtain the virtual reality of this Metaverse. In addition to direct purchase of real estate, owning the Boring Ape series NFT is also one of the ways, so the Boring Ape series, which is the first in terms of transaction volume, has become the “blue-chip” NFT in everyone’s mind.

In Europe and the United States, many celebrities have followed suit and bought Boring Ape NFTs, including hip-hop singer Snoop Dogg, NBA star Stephen Curry, Brazilian football star Neymar and so on.

So what is the existence of “boring ape” NFT?

“Boring Ape” is one of the hottest NFTs in the world in recent years, but it was born just over a year ago. In the Chinese-speaking world, people know very little about its parent company.

First of all, NFT is a digital certificate based on blockchain technology, which can guarantee the rarity and uniqueness of data in the blockchain network. Since 2021, this new concept has begun to explode around the world, and the “boring ape” “It is the strongest king among them.

In April 2021, the “Bored Ape” project was officially born. This series of NFTs contains 10,000 ape avatars. Each avatar has unique characteristics. Having an ape avatar means joining the “Bored Ape Yacht Club (Bored Ape)” Club and enjoy the benefits of the club.

Yuga Labs, the parent company of “Boring Ape”, had only four people at the beginning, but in just over a year, it has now been valued at $4 billion. On March 23, 2022, Yuga Labs completed a $450 million financing at a valuation of $4 billion. , This round of financing was led by A16z, with participation from Animoca Brands, LionTree, Sound Ventures, Thrive Capital, FTX, MoonPay and other institutions.

With the blessing of so much capital and celebrities, Yuga Labs started its Metaverse journey, and this “Otherside” is the first step in its roadmap.

Maybe you still have doubts that a picture can be sold for hundreds of thousands of dollars, but an objective fact is that in the trend of NFT, the decisive factor of value is not the NFT itself, but the consensus of the participants.

Posted by:CoinYuppie,Reprinted with attribution to:https://coinyuppie.com/zhu-xiaohu-and-cai-wensheng-have-all-come-to-chinese-companies-and-investors-to-follow-suit-and-buy-boring-ape-nft/
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