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Why Bored Ape Avatars Are Taking Over Twitter
2021 was the year of profile picture (PFP) NFTs. Depending on how you value them, both CryptoPunks and Bored Ape Yacht Club have total market caps (# of NFTs * price per NFT) of around $3 billion each. More than just a disconnected network of owners, though, the humans behind the NFT PFP formed communities, online and IRL. First, they met in... See more
Packy McCormick • The Laboratory for Complex Problems
What’s unique about NFTs is that you can make an economic decision (invest / own an asset) while also purchasing status, belonging to a community, accessing a perk. I
Rex Woodbury • Why NFTs Aren't the Next Asset Bubble - by Rex Woodbury - Digital Native
Our digital wallets and our social media accounts make us all collectors, and it turns our collections into capital traded in social, cultural and economic currency. Value of the Bored Ape Yacht Club NFTs collection is greater because design of its items are randomized.
Ana Andjelic • Intro to the collector economy
NFTs tick a lot of the boxes of a successful social network from Eugene Wei’s Status-as-a-Service.
notboring.co • Status Monkeys
An NFT may not be worth much as a jpeg, but it is worth quite a bit more as social capital, as a demarcation of tribal identity, a wink that rewards the viewer for decoding its meaning—not even for anything it says, necessarily, but for signaling that the viewer is “in the know,” operating in the same cultural code.