Thread by @scoreanboy

Why I’m bullish on #BAKC and bought two Doggos:

A thread 🧵...

TLDR: The supply / demand set up is bullish. Various thematic catalysts + lower entry price = attractive opportunity to participate in the ongoing success of the @BoredApeYC franchise.

#BAYC #MAYC #BoredApeYC

1. Global attention & curiosity in the YC continues to grow:
 
Searches on #NFT are now > than #Crypto.
 
Attention in BAYC continues to rise and remains correlated to price.

BAYC is becoming a leading web3 global metaverse / lifestyle brand.
This wave is not stopping 🌊.

2. Attractive Value & Entry Price:

If you want exposure to the @BoredApeYC franchise but don’t want an Ape (E75) or Mutant (eE15) BAKC offers a second derivative.

For E5.5 you can be part of one of the strongest communities and inherit similar social capital.

3. The BAKC art oozes aesthetic quality:

The collection is the perfect mix of cuteness infused with bad ass attitude and lots of ironic comedy.

Each dog is simply exquisite and the art makes you instantly “connect”. Why’s this important?

4. Pets create strong emotional bonds ❤️:
 
As such, Pet NFTs also induce that unique “feeling” & emotional attachment.

Demand is emotional = I’ll pay more.

Supply is emotional = I can’t let go.

As a dog dad I see my son in my doggo and won’t sell. He’s forever part of me.

5. Remember, Cute Sells 🌈:
 
BAKC is 10/10 on the Kawaii scale. Their various facial expressions combined with fun, unique traits makes them adorable (and buyable!).
 
@fantisticfox recently wrote why “cuteness” had helped various #NFTs to rally and BAKC fits into this theme.

6. BAKC will become the premium digital pet:
 
We can all feel lonely and that includes your ape. Buying a doggo to keep him company in the metaverse is the best thing.
 
Those following @AxieInfinity or @Pokemon understand the power and appeal of digital pets = more demand.

7. Demand to create the “BAYC Combo”:
 
The new, ultimate flex is now about owning a combo of Ape, M1, M2 & Doggo.

Snoop Dogg and others are jumping on this trend. Expect more collectors to start buying Doggos to complete their BAYC ecosystem combo.

8. Celebrity Endorsement:

More celebs and people of “influence” are buying Apes and Mutants.

It’s only a matter of time before one of them changes their PFP to a Doggo which will create further attention and potentially spark a new celeb trend. 💥

benzinga.com/money/celebrit…

9. Rare traits are being accumulated:
 
We have seen some big sales for gold fur, cheetah fur & 4Ts over the last month.
 
When collectors pay for the most “rare” items, this normally trickles down the pyramid = a sign of confidence. 
 
Also explains why 7 day avg price > 30 day.

10. So what’s the highest amount paid for a Doggo💰?

These sales (made months ago) are very punchy & highlight buyer conviction.

1. E75 (#8800)
2. E50 (#6050)
3. E49.99 (#824)
4. E48 (#8270)

I predict we will see a new record set this year and a future sale above ETH 100 🔮

11. Ape Whales love their Dogs 🐳 ❤️🐕:

I analysed the Top 10 wallets across the YC ecosystem.

Some of the largest Ape & Mutant holders are ALSO some of the largest Doggo holders.

This “Buy in” from whales increases credibility for BAKC and my conviction.
 
Follow the 🐳 💴

12. DAOs / Funds are buying Doggos 💰:
 
We’re seeing a new, well funded type of buyer enter.

Expect more of this money to flow in especially as demand to create the BAYC combo grows.
 
@ApeDao_ own 34.
@rcsDAO bought 5.
@RoaringLeaders own 1.
UK BAYC DAO bought #9059

13. Institutional Approval:

Premier auction houses such as Sotheby’s have already used their platform to sell BAKC (alongside Apes).

Such endorsement validates the YC franchise to HNWIs & brings in new types of buyers (who may not be crypto native).

sothebys.com/en/buy/auction…

14. BAKC owners to have access to $APE token?

Details have been limited but it appears Doggo holders WILL get access to potentially one of the biggest token launches this year. This is huge!

BAKC is the cheapest way to access this as/when it launches.

15. IP Potential for BAKC is BIG:
 
Pet IP holds huge power (see @coolcats).

We’ve seen pockets of creatvitiy from the BAKC community and I expect this to increase and create more attention.

Why is this important? Because attention is all that matters in crypto.

16. Attention, Attention:

@cobie: “the only scarce resource in crypto is attention”.

The power of the YC franchise comes from the IP ownership one has.

IP ownership = economic incentives via royalties = creativity = attention.

Let me show you how...

cobie.substack.com/p/tokens-in-th…

17. BAKC Merch:

This has the potential to be huge for @yugalabs.
 
Imagine dedicated BAKC merch for your dog (collar, neck chief, fleeces etc).
 
Now envision you in your YC merch alongside your dog with his BAKC gear both representing.

Remember, merch drives attention!

18. Pet fashion in the metaverse:

We all love to dress our dogs. Digital fashion for pets (and in general) is going to be huge.

Just look at what @niftytailor is already creating for doggos.

Listen to @danidoesnotxist to understand how big this theme will be.

19. Potential for Brand Collaboration:

We saw the power of the BAYC / @adidasoriginals collab.

The potential for a collab with a luxury fashion house involved is huge.

@dolcegabbana would be a perfect partner given their Pet inspired Fashion and involvement in NFTs.

20. BAKC’s involvement in the YC Roadmap = Utility.

BAKC will play a role in the future YC ecosystem that will drive attention, Utility and demand for Doggos.

Read this great thread from @intotheNFTverse discussing how Doggos could be used in gaming and other use cases.

21. Charity and Social Impact:

Did you know that all royalties (2.5%) for the first 6 weeks went to charity via shelters and rescue homes.

Not all pups are as fortunate as those in the BAKC and this act of kindness resonated with me.

22. Twenty predictions for BAKC that will create attention and drive demand 🔮: Let’s have some fun...
 
1. Floor goes > ETH 10.

2. Floor will overtake Cool Cats.

3. Highest Sale breaks new record (E75) and we see a > ETH 100 sale.

4. Mutant serum for Doggos?

5. Jenkins the Vallet gets his own doggo.

6. Doggos in the upcoming book by @neilstrauss.

7. More BAKC coverage / education via podcasts, articles and from @yugalabs. I love @Accumul80r.

8. Crypto research houses @MessariCrypto & @Delphi_Digital will publish more on BAKC.

9. Doggos available via a dedicated YC market place (if/when).

10. Doggos as collateral on DeFi.

11. BAKC holders can take dogs to the first Ape club house (Miami?).

12. A Doggo will be featured on a leading digital billboard such as Times Square (like @UmarKamani did).

13. More BAKC graffiti as BAYC street art continues to grow.

14. BAKC to have huge attention at the Art Basel Miami 2022.

15. Documented BAKC meet ups IRL (with pets) = stronger community.

16. First Doggo in sand from @fallinginsand and real life sculptures.

17. First Doggo sculpture.

18. UMG’s Ape Band, Kingship, to adopt a Doggo.

19. BAKC involved in National Dog day (Aug 26th) via a charity event.

20. Someone will create a perfect set of 8 Doggos for the first Ape Dog-Sled.

23. So you want one now? Be quick as supply is scarce:

No of Dogs = 9602

BAYC = 10,000 in 6100 wallets

MAYC = 17,200 in 11,100 wallets

Assume some cross holdings. 
 
There simply isn’t enough supply for all Ape owners to have a Doggo and you know what that means for price 🚀

24. The stats don’t lie 📊📈:

Just look at these graphs.

Total volume / sales growth ✅
Average price growth ✅
Floor price growth ✅

BAKC is seeing healthy and consistent appreciation across various metrics. All constructive signs of improving market structure = confidence

25. Who are my doggos (and family)?

#6203: Clean Galaxy Fur with Red Ray Beam. My own “Bul-Gae” (Mythical Korean fire dogs that chased the sun and moon)🌌🔥

#2605: The Cleanest Cheetah in the club! Beautiful 4T drooling at the bar. He’s sexy and he knows it. 🍺

26. Conclusion (1/2):

NFTs should possess 4 attributes “ASCU”.

Aesthetic Quality ✅
Scarcity ✅
Community✅
Utility ✅

BAKC incorporates all of these.

Doggos have not seen the same degree of “pump” as BAYC/MAYC and are due a big catch up 🚀

27. Conclusion (2/2). Thanks for reading this far:

Researching and writing this has not only increased my conviction in BAKC but the whole @BoredApeYC ecosystem.

There is so much to be excited about and the community strength is what supercharges this movement. WAGMI 🔥 🚀

28. Thank You 🙏:

I hope you enjoyed this and if it added some value, please share.

I want to keep writing YC content & hope to connect with other members so pls reach out.

Finally, let’s always remember to be grateful for how lucky we are.

JK (& Teddy)

#apefollowape