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Bored Ape Yacht Club is a party that keeps going from NFT Summer. The project has had multiple collaborations with incumbent players in content, publishing and auction houses. They engaged with Sotheby’s and had great success. Most recently, they partnered with Rolling Stone to sell two special covers. Additionally, last week Universal Music Group acquired 4 apes to launch a virtual band. We are not sure how sustainable the price appreciation is for the NFT assets, but the community is highly engaged and the team is executing at an extraordinary clip.
The floor price of BAYC saw strong price appreciation rising from 30ETH to 50ETH, especially in a time when the market has seen NFT volumes and price decreases, along with a correction in the broader crypto market. MAYC also has seen its floor price rise from 4ETH to 7ETH. We see BAYC as the Supreme of the NFT space, and a case study for how to build an NFT community from 0-1.
Only downside – it’s hard to afford an ape at 50ETH. But if you can, you'll join the likes of Jimmy Fallon and Steve Aoki who have recently purchased and shared their apes on crypto-twitter.
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