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Magic Eden

Degen Queue
Degen Queue
Solana
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Crazy Vultures DAO
Crazy Vultures DAO
Solana
Crazy Vultures Is A Unique Hand Drawn NFT Collection Containing 99 NFTs, The Mint Will Consist Of 70 Whitelist Spots And The Rest Will Be For Public Mint. Holders Will Get Special Perks Which Has Our Own Merchandise (T-Shirt, Water Bottle, etc.), Discord Nitro, $CRAZY Token And Much More!. This Will Be A Limited Supply Collection, We Will Be Launching Big Collections After This Project. We Are Also Planning For DAO, Our Project Has A Potential To Reach To The Moon. . . .
Duckz Wit Attitudes
Duckz Wit Attitudes
Solana
The Worlds Most Dangerous Ducks 5K Duckz Wit Attitude ̈straight outta the pond ̈ Solanas most dangerous NFT Collection. Duckz Wit Attitude is 5,000 Collection of Duckz living on the Solana Blockchain. Over 100 hand drawn traits to make every Duck unique in its own way. The art depicts early 90’s hiphop / gang era with a modern day twist. The collection centers around 5 main characters that are leaders of the gang. Forcing a rebellion against the hierarchy and broke away from a gang syndicate on the quest to rule ‘The Pond’. Duckz Wit Attitudes - merging art, music and crypto into a one of a kind collection.
 
Mint Price is. 0.69 SOL and 0.45 SOL with DuckSkull (WL token).
Join our discord. Now, you can get free DuckSkulls by answering the survey. https://discord.gg/xbDCUaJUgh Website : https://duckzwitattitudes.com
The Dons Solana
The Dons Solana
Solana
🆕️ The Dons Solana A collection of 3,500 Mafia Bosses coming to take over Solana. Blood makes you related. Loyalty makes you family. [ ROADMAP ] Our roadmap shows what we are currently working on and ready to share. We have a lot of exciting things in store that are not ready for announcement just yet and we are always looking to add new value. * Secure Grant To Kickstart Development Before Mint * Build Community And Expand The Team * Solana Money Boys x Dons Cross-Chain Analytics Tools * Further Development Of The Dons Tools * Launch Of Launchmynft Marketplace * Merchandise Warehouse * ? 🚨The Dons Solana🚨 Price : 0.15 SOL Supply : 3,500 Mint Of Launchmynft And Marketplace Magic Eden, Opensea, Solanaart And Others. A family of 3,500 Dons on the Solana Blockchain.
Solana Meme Club
Solana Meme Club
Solana
Solana Meme Club is an awesome NFT collection with such utilities like PFP, useful tools and alpha information for holders, weekly SOL giveaways, regular top Solana NFT raffles. More utilities are coming after the mint! SOLANA MEME CLUB ROADMAP (+) = Done (-) = Not started yet (...) = In progress PHASE 1 (+) Generate SMC NFT collection (+) Twitter Launch (+) Discord Launch (...) Marketing and community build (...) Collabs and Partnerships PHASE 2 (-) Mint (-) Listing on ME and all most popular marketplaces (-) Add holder verification PHASE 3 (-) Alpha and tool channels for holders (-) Smart money trackers (-) Establish weekly SOL giveaways for holders (-) Launch of $SMC token (-) Airdrop of $SMC token for all holders (-) Staking functionality for $SMC token (-) Raffle top Solana NFTs for $SMC token holders (-) Establish partnerships with useful projects and provide access to their tools for all SMC NFT holders (-) Merch store PHASE 4 (-) MVP of "Pay for Action" platform (-) further plan to be revealed...
Mfer Club Ticket
Mfer Club Ticket
Solana
Why Mfer Club ? TRAITS Every mfer is unique and randomly generated as they each have collected different items throughout their adventures such as hats, accessories, clothes and more! Note: some mfer are more rare than others The MFER CLUB ticket gives you access to the Mfer Club. As a Mfer Club member you can profit from all new information and updates. You also get discounted mint price to new collections and free raffles. what is the mfer club ticket ? Mfers by sartoshi inspired us for the Mfer Club. But we want to build a community and grow with the project: With a Mfer Club Ticket you own a lifetime membership. This brings you the following advantages: -The chance to get a whitelist spot (Free or discounted mint) -You can mint 3 days before the public sale - Take part in raffles on our discord-server -Decide the future with us How much is the mint price? We have decided to launch the Mfer Club Ticket without a whitelist. Mint price is 0.8 Solana ( ≈ 25 USD August 30, 2022) Where do i mint ? When we are ready, there will be a “Mfer Club Ticket mint” button that will redirect you to our minting portal! I have minted a Mfer Club ticket and now ? Welcome to the Mfer Club! Come to our discord server and verify yourself with your Mfer Club ticket. See you there What has been planned? ? We would like to give free rein to our creativity. So far we can already say, this year you can expect the Mfer Club Football edition. 2023 will be a crazy year. This is what you can expect: -We would like to launch our merchshop -Breathtaking deepdive adventure -Most of all we are looking forward to a collaboration with an artist to paint mfer in oil colors. The fusion of physical art to digital art.
Lady Bunny
Lady Bunny
Solana
Lady Bunny is creating a special club for ladies who care about their beauty and style and enjoy life. Lady Bunny wants to introduce you to opportunities between real life and digital life with the WEB 3 ecosystem. This club is a unique NFT collection of 4,444 Lady Bunnies on the Solana network. Lady Bunny aims to make various surprises for club members based on the concepts of beauty, shopping and entertainment. Come on board and join this exciting club! Lady Bunny Mission Lady Bunny aims to make various surprises for club members based on the concepts of beauty, shopping and entertainment. 1. Beauty Paying attention to personal care, Lady Bunny will offer special opportunities with her collaborations with beauty brands. Lady Bunny is a beauty assistant who will always be with you in many areas such as care products, make-up and perfume. 2. Shopping Lady Bunny, who wants to bring style to the fore, will give you a real shopping spree with very special deals and gift cards with global brands and shopping sites for club members. 3. Entertainment Entertainment is a lifestyle for Lady Bunnies. Lady Bunny will provide entertainment along with many activities such as concerts, excursions, holidays and will offer very special opportunities to club members. Lady Bunny NFTs Lady Bunny is created from 4,444 completely different and rare characters, designed with around 100 different hand-drawn items. Those who join the Lady Bunny community will not only join the NFT world, but also become a part of an exclusive club. Supply: 4,444 Mint Date: 24.09.2022 Mint Price: 0.1 SOL
Glorious Lions
Glorious Lions
Solana
Get your Glorious Lion NFT (Only 1000 NFTs available), prove your SOLANA status and participate in raffle of 50 Solana airdrops (the more you mint the more chances you get). No roadmaps. No utility. No Website. No Discord. 0% Promises. The next 100 Sol Project. $$Million Project. You don't wanna miss it. Always REMEMBER You control the Floor. Get your Glorious Lion NFT (Only 1000 NFTs available), prove your SOLANA status and participate in raffle of 50 Solana airdrops (the more you mint the more chances you get). No roadmaps. No utility. No Website. No Discord. 0% Promises. The next 100 Sol Project. $$Million Project. You don't wanna miss it. Always REMEMBER You control the Floor. Get your Glorious Lion NFT (Only 1000 NFTs available), prove your SOLANA status and participate in raffle of 50 Solana airdrops (the more you mint the more chances you get). No roadmaps. No utility. No Website. No Discord. 0% Promises. The next 100 Sol Project. $$Million Project. You don't wanna miss it. Always REMEMBER You control the Floor.
Spazz Metallic Mint
Spazz Metallic Mint
Solana
Project Spazz is a 3333 comic & cinematic based project, we are creating a multi-universe of Spazz characters by building a truly decentralized entertainment franchise made possible by a global community APOCALYPTIC MAP Creative, Metallic, Rebels. We are Spazz We are on a collective journey to create this new world, come with us. Brand vision: To create innovative comic characters and continually evolve who we are and what we build in ways that inspire generations to come Community: Right at the center, we are all humans building connections and at the core of everything we do is community. We want our work to inspire every member of the spazz community globally, in a way that not only identifies with their personalities in the collective universe we are building but to inspire every member to be amazing creators in their respective fields. Creative, Metallic, Rebels, and Unconventional. We are Spazz, we don’t conform Franchise Deals We aim to leverage our brands to build franchise verticals across fashion, comics, gaming, and IRL events. This is big and big things start small, keep all fingers crossed spazz Merchandise Sales All community members will have access to Spazz exclusive merchandise, comic books, apocalyptic caves, faction and clan costumes, and uniquely designed character figures. Spazz Road Drifters Our brand will always remain at the intersection of adrenaline and greatness, vrrrrooooom, that can only be the sound of dust.
Adopted Gorillas Club
Adopted Gorillas Club
Solana
Apes PFPs are everywhere, but you won't find one like us. Adopted Gorillas Club (AGC) represents the story of 8888 individuals who went to the US, Europe, Asia, etc., to join people, earn some crypto and send part of the earnings back to their families in the Jungle. This is why AGC officially supports BornFreeFoundation. High-quality NFT collection ready to storm Solana on September 19! We dedicated 6 months of hard work to create Metaverse-ready dope collection of 8,888 NFTs. All for our community. And for gorillas, of course. Doxxed team! We are based in Prague, the Czech Republic. We spent 7 months working on our collection. We have a team of dedicated graphic designers, developers and marketers. As you can see, it's honest hard work. We will use funds to work on the game, launch merch and we have more to reveal. Check the utilities on our website. Get Whitelisted.
Meta Fokin Blinders
Meta Fokin Blinders
Solana
Meta Fokin Blinders 🎩 Project Description: Meta Fokin Blinders is a collection of 5555 NFTs on the Solana Blockchain brought to you by Tiago Paiva, that will bring HODL! HODL is the brand new revolutionary social media platform designed to allow the highest freedom of speech possible and to cater to Web3 as a whole. Gone are the web2 constraints and censorship- its time to let web3 have its voice heard and to give opportunity for everyone to make money off of social media- not just the few. As MFB is our second collection, it will give the holders access into LG DAO, giving power to the holders to vote for investments, to be paid out a % from all of our business revenues, to have access to our services and use holder-only discounts and more! 🔥 On top of that, MFB offers: -Staking for LG Points that increase your revenue share and then transfer into LG Tokens once we release our token🚀 -LG Jewels access: a jewelery brand that is discounted by 5% to holders as well as 5% of its revenue being donated towards the LG DAO. 😎 -Discounts on services and VIP Treatment in our Physical Space in Portugal, Cúpula🏡
Funny Wxlves Club
Funny Wxlves Club
Solana
The Funny wxlves club collection is 100% handmade and no programmatically generated. All NFTs are unique styles. We have strong focus on quality and community. Join us to be a part of this journey and also building up something amazing together. NFTs Funny Wxlves Club Launch Magic Eden. It Will Take Time For FNWC Because It's Hand Drawn 1/1 Funny Wxlves Club Will Do Its Best And Good For Investors This One Invests In Art And Unique Good For Display Or NFT Exchange. The Funny wxlves club collection is 100% handmade and no programmatically generated. All NFTs are unique styles. We have strong focus on quality and community. Join us to be a part of this journey and also building up something amazing together. Drop 327 For Public Sale And Drop Once A Month Funny Wxlves Club Will Drop 10k NFT.
Degen Reapers
Degen Reapers
Solana
Discover 1212 unique, fully animated Reapers, they descended from heaven to earth to take over the Solana blockchain, Staking and many rewards to our community check the roadmap. Roadmap 1.0 - Degen Reapers Phase 1 - Launch Degen reapers Together with 1212 reapers - Launch Twitter and Discord - Listing on all popular platforms, and adding bots - Build an organic community - Collaboration with NFTs community leaders (DAOs) - OG distribution Phase 2 - Secondary Marketplace Listing - Setup Holder Verification (Matrica) - Rarity and sales bot implemented - Passive income: from staking program, holders will earn some $Bread. - Merchandise: holders will get access to exclusive merch. - Holders exclusive giveaways Phase 3 - Setup the ReapersDAO - Provide high-quality FCFS opportunities and Alpha - Raid to Earn - The rest of all revenue generated will be put into the ReapersDAO Treasury Wallet for upcoming events In the reapers We Believe
A Game Of Dragons
A Game Of Dragons
Solana
A Game Of Dragons MINT Phase One A Game Of Dragons is a multi-blockchain, play-and-earn card game where players purchase NFTs of Dragons and use them to: - Compete against other players - Battle against the game environment - Collaborate with the community to take down bosses - Become fully immersed in the fun aspects of playing the game to earn; • $AGOD coins (Cryptocurrency) • In-game cosmetics for their avatar • Other in-game resources A Game Of Dragons is a multi-blockchain, play-and-earn card game where players purchase NFTs of Dragons and use them to: - Compete against other players - Battle against the game environment - Collaborate with the community to take down bosses - Become fully immersed in the fun aspects of playing the game to earn; • $AGOD coins (Cryptocurrency) • In-game cosmetics for their avatar • Other in-game resources
DeAardiens Club
DeAardiens Club
Solana
An exclusive Solana collection of 4999 NFTs. Providing the fastest approach to NFT-Focused Educational Tool for New holders. Teaching people who are new to NFT Space what NFTs are about. We will provide them with educational material on WEB 3.0, BlockChain, Cryptocurrency, DeFi, Decentralization, Tokens, A step by step guide on how to create new NFT projects and stand out in the market, Explaining how to use cryptocurrency in this time of the market. Teach people how to trade and earn on NFTs & Much More. To become a member of the DeAardien Club, Join our community. Our NFT Project includes Giveaways, Announcements, Updates, Q&A, One on One chats with the creators, get to know more about the project from the creators. Purchasing our NFT will you access to exclusive future giveaways and a sneak peek at our future roadmap.

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Top Tier Athletes And Their Involvement In NFT World

Top Tier Athletes And Their Involvement In NFT World

Many parents support the idea of their offspring becoming athletes and sports stars. When asking a child about their career aspirations, becoming a sports star would top the list. Though reaching the pinnacle is difficult, it is one of the best careers in the world. The attraction to sports is the players' financial gain and adulation. Anyone who reaches the top of any sport will become financially free. Furthermore, players from the most popular sports are celebrities on par with actors and famous businesspeople.

The vast sums involved in sports are due to the massive interest and demand from the general public. People love sports and are willing to pay enormous money to watch sporting events. Due to the fascination, businesses not involved with sports pay massive advertising fees to become associated with the sport. There are many sports, from golf, martial arts, cycling, and racket sports to track and field events. It is an endless list.

However, some sports have better earning potential than others. Sports such as soccer, football, basketball, golf, and tennis are some lucrative sporting activities. Anyone who reaches the pinnacle in these activities will easily earn millions of dollars. There are few sports stars whose fortunes run into billions. Earnings are not limited to the salary received from the clubs. Top sports stars can accumulate wealth through endorsements, sponsorship deals, and payments from their clubs. The massive earnings are due to the player's skill set combined with their popularity. A famous, well-loved star will command the highest salaries.

Investment Options For Sport Stars

Like all wealthy people, sports stars invest their income; they use their finance to buy more wealth. It makes zero sense for money to sit idle in bank accounts. Investments take all kinds of forms. From starting their own business, investing in other companies to involvement in financial markets are some of the popular forms of investments. Cryptocurrencies and their associated technologies have become mainstream in the last few years. The portfolio of many wealthy people, including sports stars, usually has some investment in this arena.

Investing In NFTs

Non Fungible Tokens (NFTs) are one way to invest in cryptocurrency technologies. This field has attracted many sports stars. Some famous sports stars who hold NFTs include Stephen Curry, Serena Williams, Shaquille O'Neal, and Neymar Jr. These are just a few of the hundreds of sports stars who have become involved with NFTs.

NFTs, with their cartoon art representation, appear fun and appeal to the younger generation. Given that the sports star demographic is of the lower age bracket, it makes perfect sense for these people to invest in NFTs. Owning NFTs can help market sports stars and their brands. Becoming associated with a popular NFT collection will increase the media coverage received. For example, if an athlete buys a blue-chip NFT such as the Board Ape Yacht Club, the news will be seen on all major outlets and social media channels. This is a win-win situation for both the project and the athlete.

The more an athlete is featured in the popular media, the more it enhances their prominence. It allows them to demand more outstanding salaries and endorsements. The involvement of top-tier athletes will help drive up the price of the NFT, a good situation for the NFT project. Additionally, NFTs are an investment opportunity. Though buying NFTs is highly speculative, there is an excellent chance that blue-chip projects will see a price rise. Top-tier NFT projects such as BAYC and Azuki continue to see a price increase.

NFTs can help well-known athletes connect with their fans. The trend is for athletes to buy NFTs from significant projects to date. There will be a more significant number of athletes who will release their own NFT collections. It offers the athlete a way to bond with fans in new and innovative ways.

Holders gain the opportunity to meet the star or receive merchandise. This helps to solidify the relationship; it will lead the fans to become even more interested in the athlete's brand and helps to foster a community of fans in ways never seen before. There is also a financial benefit for the fans. Owning the NFTs of a sports star, the fan can sell these assets. Previously the relationship has been a one-way street; the athlete benefited from fans without much reciprocity.

If the perceived value of the star is on the rise, the price of the NFT will increase. It offers the opportunity for the holder to sell their NFTs for a profit.  NFTs open up all manner of possibilities in the world of sports. Sporting clubs can sell NFTs, which will offer their fans the opportunity to gain merchandise, special ticket allocation, or vote on club governance. NFTs are relatively novel, but there is no doubt that this is a field that opens up opportunities never seen before in the world of sports.

 

Apr 9, 2022
Kate
The Importance Of The Founder In NFT Projects

The Importance Of The Founder In NFT Projects

People who've followed NFTs for some time are aware of these essential considerations when buying NFTs.  Many new members of the NFT community overlook this critical aspect.

Many newbies buy NFTs without much consideration. The usual pattern is for people to hear about NFTs, find the NFT community on Social Media platforms such as Twitter, and become part of the Discord servers of various projects.

A busy server and quality artwork ensure the newbie becomes involved in the community. It leads to the person minting the NFT on launch.

Following the mint, it's common to see the price of the NFT fall in value. After a few months, the founders neglect the project, and the holders find themselves with an NFT with little value.

Since this neglect has been the standard pattern seen throughout 2021, most NFTs on the secondary market are worth less than the price paid on launch.

There have been numerous cash grabs. The founders make six figures from the NFT project, but the investors have a losing asset.

The success stories in the NFT space have received praise. For example, the Bored Ape Yacht Club (BAYC) is admired throughout the NFT community, and any NFT stories in the mainstream media feature the BAYC regularly.

For every successful project, there are far more failures.


Mistakes Made By More Experienced NFT Buyers.

After spending time in the NFT community, people become aware of the requirements of a good project. They commonly look for the following characteristics:

Doxxed Team. The team mustn't be anonymous. Anonymous groups are more prone to carry out rug pulls (where the founders close the project after launch). Investors have no idea of the identity of the founders. As a result, the groups can quickly abandon the project and scam the investors.

Great Community. There must be a sizable community behind the NFT project. People look at Social Media and Discord profiles to gauge the size of the community. Without a community, there is no one to buy the NFTs.

Good Artwork. Essential to ensure the artwork is high quality and in line with the current trends. For example, there is a great deal of admiration for the artwork by Doodles and Invisible Friends NFT projects.

Utilities. Projects need more than artwork to become a success. The only exception is if the NFTs are from an established artist such as Beeple, Banksy, or another artist with a big following in the traditional art world.

Projects without a well-established artist need to provide utilities in the form of Play To Earn games, events, staking possibilities, and more.

People seeking these factors in projects are better positioned than newbies. But many projects satisfying these conditions still fail to succeed, especially in this current climate where the NFT space is experiencing a bear market.


The Importance Of The Founder

The most critical factor in a project is the founder. Many investors entertain projects because the founder is well known. They could be a celebrity or an industry leader.

Unfortunately, many of these projects flounder in the long term. Shortly after mint, there is a pump in price. But a few months after the launch, the value has become less than the mint price.

The founders are not highly active in the project; they make no effort to immerse themselves in the community.

It leads people to conclude (probably correctly) the founders are not interested in the project. The community loses faith, sells their NFTs, and projects end up in the backwaters of the secondary market.

A successful project is one where the founder engages with the community. They should be active before and after the launch. Making themselves involved in the conversations on Discord and Ask Me Anything (AMA) or Twitter Space shows a genuine interest in the project.

An example of a successful project is VeeFriends by Gary Vee. The founder is always available. He is constantly talking about his projects on Social Media and does not go missing in action.

 

Wrapping Up

The most important consideration for any NFT collection is the founder, motives, and project vision.

Unfortunately, the NFT world has seen many cash grabs. The devs and the founders fail to take much interest following the launch.

The reality is that unless the NFT collection is by a genuine, highly established artist, the project starts after the launch.

The easy part is the stage up to the launch; it's the segment where the founders are raising capital to realize a vision. Making their promises become a reality involves hard work.

To date, in the NFT space, many founders are fond of the idea of raising capital. But dislike the effort to complete the project and make the utilities and the roadmap a reality.

Many experienced investors in the NFT community understand the situation and no longer mint NFTs easily. This is a contrasting situation to 2021, where people readily bought NFTs.

Perhaps this explains the current bear trend in the NFT world; sales volumes are significantly lower than the record-breaking numbers a few months ago.

For the investor, the best approach is to take a great deal of interest in the founder. Presenting evidence of interest by the founder ensures confidence in the community.

The involvement of a famous name does not guarantee long-term success.

 

Mar 31, 2022
Bill
Common NFT Scams: Identified

Common NFT Scams: Identified

Scams exist in many areas of life, defined as fraudulently obtaining money or goods from unsuspecting victims. 

The Internet is hugely beneficial for society and helps improve many people's lives. But it has led to criminals using it to defraud people—from phishing and fake shopping websites to dating scams. 

Cryptocurrencies use the Internet and are not exempt from scams. The anonymous nature of cryptocurrencies has made things easier for fraudsters. 

NFTs are an extension of cryptocurrencies and are an arena with frauds targeting newbies and the uninformed. Since this is a relatively new technology, most people have likely been victims of one form of scam or another.

What are some of the common NFT scams?

Rug Pulls

After a project launch, the founders exit the project with investors' funds. The founders close the assets associated with the project, such as the Discord server and Twitter account, and leave the scene. With the founders no longer involved and little trace of the project, the price of the NFTs decreases until it becomes worthless. The investors possess nothing more than NFT JPG images on the blockchain. 

The NFT space has been rife with these scams throughout 2021. As people become aware, these deceptions are becoming less common.

Anonymous founders carry out rug pulls; people have no idea of the real identity. Given the anonymity and lack of traceability with crypto wallets, it's a straightforward scam to perpetuate.

Cash Grabs 

This is rife in the NFT space. The founders of the project promise various developments for the project. 

After the launch, they fail to implement these promises. Over time, the value of the NFTs decreases, and the investors are left holding the bag. 

Nearly every NFT investor has been a victim of such activities. Such schemes are also known as a slow rug; the founders leave the project slowly. 

These schemes are difficult to classify as a fraud; the founders are in a position to kick their promises into the long grass. And many often come up with all manner of excuses why developments fail to progress. 

Pump And Dump 

This is where an individual or a group of people team up to buy large quantities of the cheapest NFTs in the collection (buying the floor price). 

They drive up the collection price, also known as "sweeping the floor" or "wash trading." After a significant price increase, the NFTs are sold for a profit, and the culprits exit the market. The value of the NFTs decreases, people are left with NFTs worth less than the price paid. 

The project founders are known to engage in such practices to drive up the price of their collection.

Project Impersonation

Fraudsters try to mimic real projects by creating websites and social media profiles with a similar appearance to the actual project. 

They aim to lure unsuspecting victims to a website and mint fake NFTs. The victim connects their wallet to mint an NFT, which turns out to be an empty file. 

Victims are targeted through direct messages or posting links in the comment section of Social Media platforms.

The problem has become rampant: fraudsters routinely hijack the real Discord server of a project, disabling the power of admins and moderators and placing links to direct members to a fake minting website. 

Customer Support Scams

This is a problem commonly seen on Discord and Telegram. Scammers contact through direct messages offering to help people mint NFTs or provide bonus airdrops.

As a customer service representative, the scammer tries to obtain wallet details such as passwords and the seed phrase. Using the information, fraudsters drain the funds from the wallet.

The problem is that NFT projects warn members not to engage in direct message conversations. Official members of staff have ceased contact with members directly through direct messages. 

Experienced people will not fall victim to such scams; newbies are the intended targets. 

Intellectual Property Theft And Fake Collections

There are projects known to take the artwork from talented artists and use it for their collection. Without agreements in place, this is a form of theft.

Projects using artwork from an artist without permission are a theme in the NFT community. 

On discovery, the reputation falls, and the value of the NFTs decline in price; it becomes a loss-making investment.

Some individuals take artwork from upcoming projects, load it to marketplaces such as Open Sea and aim to impersonate the actual project.

Buyers of these NFTs become victims of a scam.

Conclusion

Scams are common because the NFT market is new, with many new people entering the space. It allows fraudsters to exploit inexperience and vulnerabilities.

The best approach for a newbie is spending time in the NFT community, networking with others on platforms such as Discord, and becoming fully aware of the technology before major investment sprees.

Mar 24, 2022
Kate
Yuga Labs & Bored Ape Yacht Club (BAYC) Launch ApeCoin Tokens

Yuga Labs & Bored Ape Yacht Club (BAYC) Launch ApeCoin Tokens

Bored Ape Yacht Club (BAYC) is the most iconic NFT collection; it's set the standard for others to follow. The nearest rival CryptoPunks, based on nothing more than artwork, was taken over by BAYC's creators, Yuga Labs, in March 2022. This acquisition has created the biggest juggernaut in the NFT world; no other project comes close in size.

BAYC 's success depends on its ability to evolve, pivot, and provide value to its holders. While many projects offer artwork and no more, BAYC has significantly contributed to the NFT world. They airdropped NFTs from other projects (such as Bored Ape Mutant Club and Bored Ape Kennel Club) to BAYC NFT owners, provided in-person events, and developed online games for its members. Yuga Labs allows the holders to use the NFT they own to create and sell merchandise.

 What is ApeCoin?

As part of this ability to grow, in March, Yuga Labs collaborated with the collective named ApeCoin DAO to drop ApeCoin ($APE) token.

ApeCoin acts as a digital currency in the same way as many other cryptocurrencies. People will be able to spend ApeCoins on upcoming products and services BAYC will offer, including the Play To Earn game launching in 2022. The hope is that ApeCoin may evolve beyond the BAYC ecosystem in the future.

There is a difference between Apecoin and cryptocurrencies such as Bitcoin, Ethereum, and Solana. Bitcoin, Ethereum, and Solana are native coins derived from their perspective blockchain. Apecoin does not have its blockchain and resides on the Ethereum mainnet; it's considered a token rather than a coin.

ApeCoins are not too dissimilar to Axie Infinity Shards (AXS), the native governance token of the Axie Infinity network. Axie Infinity players can buy, sell and trade using Axie Infinity Shards.


Distribution

A total of 1 billion ApeCoins were available; the allocation was as follows:

15% to the holders of Bored Ape Yacht Club and Bored Ape Mutant Club holders,

15% to Yuga Labs,

14% to the partners that helped launch the tokens,

8% to Yuga Labs founders,

1% to charitable events,

47% to ApeCoin DAO

ApeCoin DAO

ApeCoin DAO is part of the Ape Foundation, the governance behind the token. They have the power to manage the everyday running, project management, and bookkeeping of the token system. Holders of the ApeCoins and the DAO can dictate the ecosystem's future, thus making ApeCoin a decentralized system.

 ApeCoin DAO consists of leaders from the Social Media, gaming, and crypto space. These people include Alexis Ohanian (from Reddit), Amy Wu (from FTX), Dean Steinbeck (from Horizen Labs), Maaria Bajwa (from Sound Ventures), and Yat Siu (from Animoca Brands).

The BAYC project and Yuga Labs are separate entities from the ApeCoin DAO. If BAYC and Yuga Labs were closely connected, the project would come under the scrutiny of The Securities and Exchange Council of the United States. The Securities and Exchange Council is the government organization responsible for regulating Securities and protecting investors. To date, the organization has not focussed on NFT projects.

Launch 

On launch, the price of ApeCoins started at almost $40 per token. During the day, the token fell to around $6 as people who received free tokens sold their share. A few days into the launch, the price of the ApeCoin sits at around $11. The vast market cap size has meant that ApeCoin is in the top 50 of all cryptocurrencies.

The token was available on all major exchanges such as Coinbase, Binance, KuCoin, and FTX. It's unusual for new tokens to be widely known, but the popularity of the BAYC meant exchanges readily accepted ApeCoin onto their platform.

Original holders of BAYC NFTs were given 10,094 tokens for each NFT they held. This translates to nearly $400k at the price height and $60k near the bottom.

ApeCoins show that the Bored Ape Yacht Club project continually provides the holders with utilities. These utilities translate into social and financial gain. Unfortunately, the NFT space is riddled with scams and rug pulls. But Yuga Labs have set the blueprint for what makes a fantastic NFT project, an aspiration for other projects to follow.

No one can predict the price movement of digital currencies; there are no guarantees of price increases. The ecosystem created by Yuga Labs is continually expanding rapidly; it's probably a good bet to suggest ApeCoins are potentially a significant investment.

As always, do your own research before investing.

 

 

 

 

Mar 23, 2022
Dave