For clarification, I don't own any NFT's yet although I've been fascinated by this part of the crypto sphere for a while now. In the time I've been lurking the NFT space I've seen people make insane gains flipping them but I've never actually pulled the trigger and bought one. Mostly because of the outrageous prices and eth gas fees.
This could change today as I'm an inch away from spending 0.1 eth on a digital monkey.
Don't let me do this. Send help.
In all seriousness, the idea behind these apes is a fun one.
You can buy the ape NFT for 0.1 eth (no bonding curve fuckery) which is pretty cheap for an NFT on ethereum.
There are only 999 apes available but there is a catch.
They are deflationary!
How do they deflate and why?
Apes can be burned in order to claim a physical copy of your NFT printed on a metal plate with a glossy finish to hang on the wall as artwork (questionable).
These physical copies are unique and contain a proof of authenticity on the back of the metal plate.
I don't know why but out of all the NFT's I've seen so far, this one (even though it might not be the wisest/most creative one) got me hyped up the most.
Guys, the FOMO is real, I'm tellin' you.
Might actually get a few.
This "project" is only a few days old but you know how crazy fast and dramatic things can advance when we're talking about NFT's, right?
I mean, just one tweet from the right person and all 999 of these 0.1 eth apes will be sold in a few minutes and after they're sold out, people will start offering a lot more to get their hands on them.
10, 20, 50x ez.
R-rright?
There are no guarantees this will catch on of course but I'd rather lose a few hundred dollars holding a valueless representation of a digital monkey than to have to see it pull a 20x.
It's been a long time since the crypto market reached ad absurdum levels, especially the NFT sector.
These apes 50x-ing wouldn't surprise me the least bit and would only confirm the absurdity.
Tbh, I wouldn't be able to forgive myself for missing out on something like that because I operated from the broke - average IQ - mindset when the market keeps rewarding degeneracy and idiocy.
What do you think?
Should I get in and buy a few apes?
Keep them digital or burn to mint physical?
Does ApeOnly stand a chance to pull some miraculous gains as people keep burning them to claim the physical artwork?
What are the odds?
How far can this go?
And most importantly, wen moon?
Let's discuss down below.
Kindly, please try to convince me not to get into this because if I do, I might have to sleep on the couch again when gf finds out.
Thank you in advance.
Btw, 10 apes sold in the ten minutes it took me to write this up.
FOMO got me twitching towards clicking the mint button.
Fuck.