NFTs, Investing, Abandonment
BAYC Uncaringly Leaves Its BAKC Doggos Out in the Bitter Cold, Which Totally Sucks for Investors
“You may be in the Kennel, but you sure the hell ain’t in the Club.”
At the end of January, I’d finally amassed enough discretionary ETH to buy into the Bored Ape Yacht Club (BAYC) franchise — not with an actual ape, mind you, but via the Bored Ape Kennel Club (BAKC). It was, for me, a substantial investment in an art piece, easily the largest of my lifetime. I was pretty proud about it and published this bullish piece back then.
I wasn’t the only one entering the franchise this way, almost certainly, as the BAKC is a super popular set within the BAYC franchise. When I entered, the floor price was at 9 ETH, same as the Mutant Ape floor price just 5 weeks prior.
Anyway, as everyone knows, the big news in the NFT space today was the big APE coin launch, which included an airdrop of 10,000 APE coins to all BAYC holders.
As of this writing, that’s worth about $140,000, which is super interesting because just 9 days ago, you could have bought an actual ape for 74 ETH, or just under $200k. And today you’d have received 70% of that back AND you’d still have your ape, which right now is worth at least 92 ETH, which is now worth $273k.
