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HEALTH, WEALTH, AND HAPPINESS

April 13, 2022

"Every good act is charity. A man's true wealth hereafter is the good that he does in this world to his fellows."

- Moliere

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KEY DATES IN APE HISTORY

April 23, 2021: Bored Ape Yacht Club launched. Created by Yuga Labs, it included 10,000 uniquely generated bored apes. These NFTs offered special membership benefits moving forward.

April 30, 2021: All 10,000 original BAYC NFTs sold out. The mint price was 0.08 ETH.

August 29, 2021: Yuga Labs launched Mutant Ape Yacht Club (MAYC) as a second-tier collection in the Ape ecosystem, with 20,000 Ape NFTs.

Jan 20, 2022: BAYC launched its first mobile game, Apes vs Mutants, on the iOS Apple App Store and Google Play. 

February 2022: Yuga Labs raised over $200 million from Andreessen Horowitz and others to further build out the Ape ecosystem.

March 11, 2022: Yuga Labs acquired the intellectual property rights of two other legendary NFT collections, MeeBits and CryptoPunks, from their creator, LarvaLabs.

March 17, 2022: ApeCoin was launched. Each BAYC holder could claim the airdrop of 10,094 tokens. MAYC holders received 2,000 tokens. ApeCoin started the day around $7 and ended at roughly $11. This means that for BAYC holders, the airdrop was worth about $70,000 at the beginning of launch day and about $111,000 by the end of the day.

April 20, 2022: The value of the initial ApeCoin drop is worth over $161,000 per BAYC NFT held, and $32,000 for every MAYC NFT held. The floor price for BAYC is 124 ETH. The floor price for MAYC is over 31 ETH.

As you can see, ApeCoin is part of an entire "Ape" ecosystem, complete with an Ape Foundation and an Ape DAO. You can read all about the primate-based ecosystem on their website.

The success of these apes is legendary. As Rolling Stone Magazine noted all the way back in November 2021, Yuga Labs had successfully built a billion-dollar brand from apes. On top of that, the market cap of ApeCoin alone is now worth over $4 billion. 

So why not just "ape" in?

IT'S NOT ALL FUN AND GAMES

The legendary success of the Bored Ape Yacht Club is one of the best examples of success in NFT history. Investors who chose this investment and bought in early have been rewarded handsomely. 

However, being early isn't the only factor of investing success. You also have to be right. 

On the flip side, another historic moment in NFT history was when Twitter founder Jack Dorsey sold his first tweet ever to crypto entrepreneur Sina Estavi as an NFT for $2.9 million last year. His ROI hasn't been so impressive, at least not so far. Estavi listed the NFT for sale again at $48 million last week but it ended with a top bid of only $280. Looks like he might be holding onto that NFT for a little longer.

And it gets worse.

Scammers have been on Twitter with fake accounts, promoting fake ApeCoin airdrops. They had already made off with $1 million as of last month, per this article from DeCrypt. They have even managed to use actual blue check accounts that are supposedly verified by twitter. The scam is still going. I know because I am getting tagged in these tweets daily.

Be careful out there! 

Investor's Take

NFT Apes are a very speculative activity. There are many more opportunities to lose all of your money than there are to find the next Bored Ape Yacht Club. 

Per one estimate, there are 15,000 to 50,000 NFT sales every day. Picking that one winner can seem almost impossible. 

However, there are some ways investors can gain access to and benefit from the nascent and rapidly growing NFT market.

First of all, users need to stay up-to-date with online security procedures to prevent yourself from getting hacked. This includes:

• Regularly updating passwords
• Being wary of scammers and not clicking on links you are suspicious about
• Keeping your digital assets than where engage on social media 
• Keeping your phone number private.

There are other tips, and it's important to keep updated on this. Some basics were listed out by ShapeShift in 2020.

Consider investing in blockchains that support NFTs and show growing user growth. A great resource that provides this data is DappRadar.com. In terms of NFT sales volume, Ethereum is leading and it's not even close. There is over $220 million in daily sales on the top two marketplaces. WAX, Polygon and Binance Smart Chain are currently experiencing just over $1 million in daily sales on NFT marketplaces. Solana is under half a million dollars in daily sales. 

• Ethereum offers investors exposure to the growth in the NFT market.
• WAX offers investors with greater risk appetite higher potential returns for its NFT market growth. It has a relatively tiny market cap of just over $500 million, as compared to Polygon ($11 billion), Solana ($33 billion) and Binance Coin ($68 billion).

Sincerely,

Alexandre Lores

Opportunity Analyst

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