They were right, this was the Planet of the Apes!
So you heard of Yuga Labs and what they are doing with their incredibly successful Bored Ape Yacht Club (BAYC) NFTs?
Let me tell you.
They are trying to take over the world like the Apes did in Planet of the Apes.
And like the web3 researcher degen I am, let me expose their plans right here.
Step 1: Start an NFT collection of Apes (on hindsight, it was quite creative eh!)
Step 2: Start a few more variants to ride on the success (Mutant Apes, Bored Ape Kennel Club)
Step 3: “Leak” their investor deck that shows an ambitious roadmap to build hype
Step 4: Start their own currency/coin (ApeCoin) and watch it moon
Step 5: Sell more NFTs, this time land deeds for their Metaverse (they haven’t even built it yet!)
Step 6: who knows, maybe they will really build the BAYC ecosystem in the metaverse like they said they would
With $450M raised from some of the biggest crypto investors today, led by Andreessen Horowitz and Animoca Brands at a $4 billion valuation, they have more than enough rocket fuel to fly anywhere they want.
They seem to be building the REAL metaverse faster and better than Meta eh?
Their strategy of penetrating the market via NFTs, lowering the barrier of entry for newcomers and strategically building blocks of their metaverse plans with tokenomics and playing to their users’ appetite is really working out well.
This is 2022, where real money can be made in and from the metaverse.
Yuga’s strategy of pre-selling their ideas and concepts, testing it with the market in real time is what defines their boldness and business acumen.
This is cutting-edge guys.
This will be a landmark case study for MBA students and academic researchers in time to come.
Yuga has turbo-charged the concept of pre-sales and hauled it straight into the metaverse.
Think about how they went from literally selling jpegs and having a community, to becoming THE blue-chip NFT and constructing the metaverse in their own likeness in just a year!
The land deeds for the metaverse (called Otherside) launched and there was so much demand, it broke the Ethereum network.
Some said they botched the launch and much chatter ensued.
$180M worth of ETH was spent just on gas fees for that weekend.
With $450M, they could have really spent more time to design a better smart contract and saved everyone some gas fees.
So…remember how people were saying the NFT hype train has stalled?
Perhaps, but what I think we will see that the blue-chip, largest NFT projects with the best team and stories will continue their ascend to the heavens while the rest of the 99% will inevitable crash and dissolve to nothingness.
Oh and guess how much Yuga made from that weekend of selling 55,000 OtherDeeds?
Quite literally the largest NFT mint in history.
For comparison, the War for the Planet of the Apes (2017 film) made $490M in its lifetime.
Yuga made $320M over a weekend.
They are writing history and conquering the metaverse like Planet of the Apes!
Maybe time for me to buy some ApeCoin?
Will Bored Ape Yacht Club be the most successful NFT project ever?
#startups #business #startupx #growth #success #socialmedia #culture #entrepreneurship #strategy #eth #bitcoin #cryptocurrency #bayc #nft #getrich #airdrop #branding #mastercard #line #revolution #web3