The Apes have now reached an astonishing floor above 83 ETH. In that time, Bored Ape Yacht Club has assumed the top position in volume over the past week. We released our most recent NFT Insider on Jan 13th, so the turnaround in OpenSea rankings to today’s issue is about four days. Sometimes markets don’t make sense, and sometimes they just don’t make sense to us. Hypothetically speaking, would an outside buyer be willing to pay more than $1 million (at today’s market value) for Ape #601 when the same buyer could buy three Bored Apes at floor price?Ĭould it be that more seasoned traders are taking advantage of new entrants to the space? It’s a possibility, but we tend to give investors the benefit of the doubt. If so, this is a good thing for fractional investors who bought low and have benefited from share appreciation.īut what would be most telling is if a buyout is ever up for a vote. This begs the question, is rarity as important as brand recognition? Is the provenance of the Ape belonging to Rally driving the price up for investors that are unable to buy an Ape outright? Well, its website, Twitter presence and followers not to mention the various forms of apparel that Rally sells to commemorate their public offerings: hats, pins, shirts, and other items for other assets. What do we mean by the Rally marketing machine? Rally has some of the most recognizable Apes in the space – regardless of rarity – thanks to its marketing machine. Could Rally be benefiting from its branding of the Apes? Unlike Rally, most Ape owners can’t attract thousands of views to their particular Ape. We’d like to offer a possible explanation. Ape #601 isn’t particularly rare, but it’s valuable
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