Eric Siu breaks down Bored Ape Yacht Club NFTs as status symbols like Soho House or TED. The collection had traded over $1B in volume with a floor price around $192,000, owned by roughly 6,000 people who display them as social proof.
There's a couple of things here. Ape to Apes, having an ape is kind of a— it's a symbol, right? So to me, it's kind of like a club, like having like a Soho House membership as an example, right? Or whatever other exclusive clubs are out there. There's— to me, being a part of the TED community is a club as well. Being a part of YPO is a club. Being a part of EO is a club. Being a part of, you know, Tiger 21. There's just all these different groups that are out there. But, you know, doing it through NFTs is kind of cool because you get like a unique NFT that you can display and you can flaunt to everyone on Twitter. You can display it as your profile picture on Instagram. As well, and you know, as of this recording, if we take a look at my screen over here, the Bored Ape Yacht Club has done traded over 240,000 ETH, right? And as of this recording, it's over a billion US dollars. Floor price is at 43, which you know, let's just do the math over here. So 43.7, 4,400 right now—that's Ethereum. So $192,000, right? And there are about 6,000 unique owners, and then they also have the Mutant Ape Yacht Club as well.
