Want to know how they did it? check the thread below π𧡠#BAYC100#NFTs
BTW if you like it pls RT/share this 1st post
WHAT WE WILL COVER:
-Catalyst
-Cultural Narrative
-Brand
-Tokeconmics/team
1/ CATALYST
The catalyst that kicked off the #NFT craze in 2021 was when @beeple sold his artwork for a massive $69M in May.
2/ CULTURAL NARRATIVE
Thie catalyst kicked off a narrative that #NFT would be the future of art & community.
This saw 1000s of copycat #NFT projects launched. Many of them are now 'worthless JPEGs'.
But @BoredApeYC has thrived...wanna know why? Keep reading on.
3/ BRAND STORY - 1
After @beeple fuelled the #NFT craze many projects like @thecryptopunks by @larvalabs became increasingly expensive & out of touch for more retailer buyers.
@BoredApeYC subverted this in the following ways...
- #apes represent people who 'aped' into crypto early & made millions in the future.
-They were now so rich they were bored out of their mind.
-This story tapped into the dreams of so many in #crypto (WAGMI!)
5/ BRAND STORY - 3
-In the beginning, they also positioned @BoredApeYC as a challenger to the elite and too expensive @thecryptopunks . They where the 'challenger brand'
- This resonated with a lot of #NFT#crypto investors who could not afford these projects
6/ BRAND INFLUENCE @BoredApeYC has also leveraged influence very well:
-@pranksy one of the most influential #NFT investors was one of the first to APE in. Bring fame to the brand.
Whilst most #NFT projects at the time were copy & paste efforts, @BoredApeYC stood out because:
-They created real utility (you own the IP to your ape, you could iterate with it, there was a club to hang out at)
-The art style was truly unique/stood out.
8/ TOKECONOMICS & TEAM
The price of @BoredApeYC has also been helped to grow by:
-The capped the supply of original apes and especially exclusive gold ones.
-Amazing community that rarely sells and fights to increase the floor price.