Thread by @CRVNE_eth

I see a few VERY LUCKY individuals constantly defend the actions or lack thereof of @yugalabs simply because of what they received from them since minting.

Wasn't distribution of #BAYC less than 3k at mint?

So, what about the people who paid $300k for theirs 2 weeks ago?

🧵👇

What do they get aside from membership to your club & a promise that "something big is coming"?

What has @BoredApeYC actually built or developed aside from $APE?

A shitty game with beyond terrible mechanics?

Fancy marketing agreements w/ F500 corporations? (but I thought this space was all about grassroots growth & community empowerment 🤔)

Ok, I will admit they are very good at marketing and recirculating funds in order to create an illusion of progress, but please quantify the

actual development that has taken place.

Majority of current BAYC holders did not mint and thats an absolute fact. Yuga has profited exponentially more than any holder & potentially more than the value of the entire collection (consider price devaluation upon mass liquidation).

They continue to dangle carrot after carrot in ways that are proven to be damaging to the space & overall inefficient.

Why? Because their ONLY priority it profit, but not necessarily for holders. That's just a side effect for a fee lucky ones. Their main priority is continuing

To secure profits for the VC investors that funded the project in the first place and continue to drive its growth through corporate connections.

Is this a bad thing? Not necessarily, but it's definitly not in line with the vision that Yuga portrays or what their community

Projects for them.

Someting has to actually come eventually, right? Or will they just continue to string everyone along with marketing slogans like "You wont want to miss this" and unknown, badly planned minting processes that never actually bring anything to fruition.

What even is a #koda and what do they do? Why should we value them? Cuz BAYC that's why?

What happens when VC Investors decide theyre done miking this cow and need to find a legal way to exit? Is that when all the holders finally come together and create the community they've

Been imagining this whole time? Or is that when Yuga gets bought out by @Meta and holders get a fancy frame around their pfp and a 1% discount off their proposed 30% creators tax?

I've held in a lot of what I've had to say about the project simply because I never minted, never

bought, and didn't want to come off as someone who is just throwing shade out of envy. Im truly happy for anyone that has profited and/or benefitted themselves in somehow due to BAYC. I have some great friends who have done so and I couldnt be happier for them.

However, that

Doesnt change the fact that I am an advocate of web3 and a truly, mostly decentralized internet and now I am sure that BAYC is not conducive to that.

Maybe, they have been beneficial to the spaces growth up to this point as far as the level of exposure they have brought, but now

Their actions are proving time n time again to be damaging to the space and their priorities are not at all aligned with the vision they are selling.

I am going to say this with pure confidence now despit what others may think:

Anybody who is paying $300k for a BAYC or $50k for a shot at some #kodas right now is absolutely REKT in 5 years if theyre still #hodling. The only exceptions will be those who specifically used their IP rights to capitalize in a unique way such as how @BoredNHngry did.

@RemindMe_OfThis 5 years

It really helps if you retweet this for me. So, if you enjoyed the read do me a favor n click the Tweet below then hit the 🔁 for me. Throw a ❤️ & 💬 for extra points.

THANKS AGAIN 👇

https://twitter.com/CRAEN_3333/status/1520825807853088768?t=pDu1ZSQCRnLnJ3wPi7pCDw&s=19

@threadreaderapp unroll #bayc #fud