3 ms·

Is the bored ape yacht club worth $5B?

6 points by enigmatic02 5y ago

dmitriid 5y ago
The question hinges on the definition of "worth". IMO: is it worth 5 billion? Hell no. Will someone pay 5 billion for it? Yes. I mean, someone invested $120 million in Juicero at one point.
- stirlo 5y ago
  Juicero was an amazing idea compared to this. There's juice bars all over the world so why not have one on your countertop... The execution was of course atrocious with an over engineered expensive to produce machine that couldn't be given away in return for recurring fruit pack revenue. Compared to a real (albeit failed) product these NFTs total shit. With interest rates rising and inflation I doubt there will be any money to be made with even half that valuation once the scam bubble pops
raverbashing 5y ago
No Not even the Tulip Bubble was that devoid of reality The "bored ape" trend is a Nigerian Scammer Email gone wild. It is literally as nonsensical as possible to filter the most gullible. But of course with Luxury Marketing and "investors" (which don't care if they burn 100k in something with very low chances of having negative returns because it's 0.1% of their net worth - or even less) Now read about gas fees and minting fees and see who's really ending up with (actual) money in their pocket. That if the bored apes won't be the mother of all rugpulls.
carabiner 5y ago
This seems naive when it doesn't even touch on the issue of fake volume in the NFT market. You can buy an NFT from yourself for a $1 million, boom it's listed as a $1 million NFT. Then sell it for $100k. What a discount! Apparently 99% of NFT trading volume is fake.
a1371 5y ago
If you notice from their messaging, what the brand focuses on is not the "ape", but the "club"; or "yacht club" to be more exact. People wanting to belong to so called high status societies goes back thousands of years. Their offering is so shallow that the high prices seem paradoxical. Which is a great thing for a brand because the paradox hints that the value is intrinsic. "It's big because it's cool". Whatever technical issue we have with them is irrelevant... Until June when no one even remembers this.

6 points by enigmatic02 5y ago

The question hinges on the definition of "worth". IMO: is it worth 5 billion? Hell no. Will someone pay 5 billion for it? Yes. I mean, someone invested $120 million in Juicero at one point.

stirlo 5y ago
Juicero was an amazing idea compared to this. There's juice bars all over the world so why not have one on your countertop... The execution was of course atrocious with an over engineered expensive to produce machine that couldn't be given away in return for recurring fruit pack revenue. Compared to a real (albeit failed) product these NFTs total shit. With interest rates rising and inflation I doubt there will be any money to be made with even half that valuation once the scam bubble pops

raverbashing 5y ago

No Not even the Tulip Bubble was that devoid of reality The "bored ape" trend is a Nigerian Scammer Email gone wild. It is literally as nonsensical as possible to filter the most gullible. But of course with Luxury Marketing and "investors" (which don't care if they burn 100k in something with very low chances of having negative returns because it's 0.1% of their net worth - or even less) Now read about gas fees and minting fees and see who's really ending up with (actual) money in their pocket. That if the bored apes won't be the mother of all rugpulls.

carabiner 5y ago

This seems naive when it doesn't even touch on the issue of fake volume in the NFT market. You can buy an NFT from yourself for a $1 million, boom it's listed as a $1 million NFT. Then sell it for $100k. What a discount! Apparently 99% of NFT trading volume is fake.

a1371 5y ago

If you notice from their messaging, what the brand focuses on is not the "ape", but the "club"; or "yacht club" to be more exact. People wanting to belong to so called high status societies goes back thousands of years. Their offering is so shallow that the high prices seem paradoxical. Which is a great thing for a brand because the paradox hints that the value is intrinsic. "It's big because it's cool". Whatever technical issue we have with them is irrelevant... Until June when no one even remembers this.