There have been a lot of bad news for some in the web3 space in the last couple of weeks, but you wouldn't know it by looking at the announcements. The Bored Ape Yacht Club has an annual event that brings in musicians like The Roots and others to perform. On the final day of the event, guests were able to see the premiere of a video from two of their favorite celebrities.
The video for From The D 2 The LBC is mostly about smoking weed, but it also features cartoons of apes. Many BAYC members were disappointed when both men performed in the Super Bowl halftime show and failed to highlight their web3 endeavors.
After peaking at more than $23 in late April, the price of the coin has dropped 39 percent in the last month to $4.51 and the value is 38 percent less than it was a year ago. The numbers haven't improved since the Wall Street Journal wrote that NFT sales are flatlining. The report said that an NFT from the collection sold for more than $33k. The highest bid at the time of the article was $210, but at the moment someone is offering $1,218. You can see the animation for free from its source website.
The BAYC owners can point to music that uses characters from the club they joined. They were able to see the real version of the performer, not the fake one, because they were at NFT. NYC.
The NFTs of the rappers were acquired by third parties in December. In a deal executed by the digital agency Six, it cost 123.45 ETH to get a copy of the film. It was worth about $460,000 at the time, but is now worth about $150,000.
MoonPay enabled the transfer of the ape icon from the previous owner to the new owner. The company has focused on making it easy for celebrities to buy high-priced NFTs, but it's hard to know who actually paid the high prices.
Even if it's unclear why or how that will increase the appeal to people who haven't spent six figures, opening up the ability for token owners to use the images of the apes for their creative or business endeavors is a part of the Bored Ape Yacht Club's strategy This is the start of a new media industry with intellectual property rights linked to digital token with monetization that trickles down to everyone associated.
You can follow our explanation of the state of things here if you want to know the truth. There are lots of things for the BAYC owners to sell to members who are sticking around, like merchandise and promises of land in a metaverse that hasn't launched yet.
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