To date, Bored Apes have generated $2.6 billion in sales. But can they offer utility to their owners long-term?
“It was pretty fun. A lot of us wore costumes representing our apes,” Chapman said. He donned a hoodie and sweatpants with pics of the apes he owned. Drinks were on the house.When NFTs caught public attention in early 2021, they were touted as a way to safeguard artists and protect their work.
A lack of utility has been a longstanding “sliver under the nail” complaint about NFTs, Olson said. It didn’t help that, before the news of the CryptoPunks acquisition buoyed sales, the floor price for a Bored Ape had fallenThe future of Yuga Labs will hinge on the case they make for Bored Apes’ enduring relevance amid its expanding universe. ANothing was written out formally —it was simply an annotated image of a swampy trail.
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In a Major Consolidation of the NFT Space, Bored Ape Yacht Club's Founders Have Acquired CryptoPunks and MeebitsYuga Labs plans to transfer I.P., commercial, and exclusive licensing rights to individual CryptoPunk and Meebit holders.
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The First NFT MonopolyOpenSea, an a16z investment, controls most of the volume in the NFT market, and Yuga Labs, reportedly also an A16Z investment, now controls some of the market’s most valuable IP. lil_smush on monopolies, for The Node newsletter.
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Pixar NFT drop sells out on VeVe shortly after launchThis collection did not go to infinity and beyond! The Disney Pixar Pals NFT collection, consisting of over 54,000 pieces, was sold out in less than a day after its launch.
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