Thread by @Philneeds

My thoughts on $ape token because you guys keep asking😅
A 🧵...👇👇👇

First off it’s going to be game changing I think we all know that, it offer a new lower entry point to the #bayc ecosystem that is not offered currently. Let’s dive deeper...

An entry point so low that literally almost ANYONE can buy and hold tokens at fractions of no matter the price it releases at.

One thing I think people often forget is the millions of dollars fake ape collections have made off the @BoredApeYC IP alone and the pure volume that is still associated with these collections

People are so desperate they are willing to pay .5 eth for a literal off brand bayc *cough* @0xApes_NFT as well as hundreds of bored ape derivatives, some that pay tribute back to the bored ape ecosystem, and all the ones that do not...

Now don’t get me wrong I’m not trying to insult the integrity of the people that have chosen to own these derivatives because I am well aware the cheapest point of entry (as of now😉) into the ecosystem is almost 14,000$ (fiat) which is very much a lot of money.

Once the token is released this will be the new entry point for all these users that could not afford to enter before. And the best part about it is they can deposit as little or as much as they chose to the ecosystem.

So when people ask me if I think the token is priced in I say yes but not nearly enough. I think it is priced in for the #boredape brand and the celebrity outreach they have made and instilled, but there are many other factors and utilities that can and will affect the price

Overall the @BoredApeYC brand and project is WELL ahead of their time in the space, they are one of the only projects that has produced continuous sufficient utility while at the same time expanding and maintaining their solid community, as well as being historically significant.

When I first heard of a token being released I was initially skeptical, as there are so many projects that release a token that fail due to no sustained utility or sufficient community backing. But once I examined it further I was no longer worried.

@CyberKongz is one of the few projects that have pulled off a token release that has proven sustained value. But the bored ape brand is so much bigger then #kongz which leads me to think that the @BoredApeYC could most likely sustain itself through brand and community ALONE

Now to heard they are planing in building a game that utilizes the token??? (In addition to other utility behind it) The @yugalabs team has never disappointed and always delivered (just another reason their floor is so high) and this is why I have faith in them.

Honest the speed at which everything has been done and the professionalism behind them has me even more confident in its release, (a full legal team, resolving their mobile game with apple, superplastic, etc.) If they need more time to make this bulletproof, they will take it.

Overall I’m not selling anytime soon. I am very interested to see how they implement the dogs into the release, and as for the value of the token and the amount everyone will receive will continue to be highly speculative, which is why I haven’t chose to cover it here in this 🧵

Let me know your thoughts below always open to discussion and debate. 😄👇