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GAP NFT Breakdown
What's Dropping, Ape Squared, FTX NFTs, And More
Welcome to The Drop NFT Newsletter. Subscribe and join the discord for breaking NFT news, project breakdowns, & artist spotlights. Thank you for following along on this journey! (Also don't forget to follow us on our NEW Instagram!)
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What's Dropping ⚡️
Bored Ape Yacht Club x Superplastic. Ape toys are coming!
This is the way: Fancy Bears Metaverse distributed $70k to buyers who lost their funds in the public sales hack. Always great to see projects take care of their communities and do the right thing.
The Azuki is simply breathtaking. No surprise whatsoever that it sold out instantly. The secondary is getting thinner by the minute and price is currently 2.7 ETH
C-01 mints this morning. It’s going to be a madhouse as this is clearly another super-premium in the making.
BYOPill are releasing 3D Apostles to all holders. There will replace the existing images.
Speaking of BYOPills, Legends of Venari dropped a tease of their BYO collaboration yesterday.
A buyer causally dropped 160 ETH sweeping the Cool Cats floor last night. Considering $MILK and Cool Pets is this any surprise at all?
GAP Has Entered The NFT Chat
Gap, the famous all-American clothing retailer, has launched an NFT collection that will unlock in-real-life (IRL) merchandise! And in our opinion, it’s actually pretty legit. The hoodie was designed with the help of Brandon Sines, creator of Frank Apes, which will feature his colorful artwork embroidered onto a Gap hoodie made from recycled materials. The first part of the collection has already been released, and minting will close soon!
So here’s what you need to know on how to redeem the physical Gap x Frank Ape hoodie:
To qualify for the Frank Ape X Gap “Always Play” Hoodie, buyers will first need to collect 6 NFT’s: 4 different “Common” NFT’s, and 2 different “Rare” NFT’s. Once collected, the 6 unique tokens can be fused together to create 1 “Collector’s Special” that may be used to buy an “Epic” NFT. Owners of the “Epic” NFT will be able to claim the IRL merchandise!
The cost will be approximately 120 XTZ, or $500 total. Buyers can either pay via credit card, or XTZ through the Gap NFT website, but you’ll need to create an account with Kukai to get access to the NFT’s in your wallet after purchasing. “Common” minting will end at 12pm EST on Saturday, Jan 15th, which is when “Rare” minting will begin. Once all 6 have been collected, owners can fuse them together and buy the “Epic” NFT on Wednesday, Jan 19th at 12pm EST.
(FYI: join our Discord and jump in the #og-chat to score a chance to get one of these NFT’s for free!)
Ape Derivatives™
I’m walking down the street, and I see an Ape walking towards me. I stop in my tracks and look to my left. There’s another Ape. I can’t take that route, so I look to my right. Once again, Ape. I get scared and decide to turn around and go back, but you guessed it; there’s another Ape.
That’s how it’s starting to feel with all the Bored Ape Yacht Club derivatives that have been coming out in recent times. From colorful Apes, to Apes that are based in the Apocalypse, all the way to Apes that are also Cool Cats. And now, another impressionist has come to town: Caked Apes. A collection of bakery and confectionary Apes, the Caked Apes feature an array of color popping designs with very unique attributes. With a floor of 0.28ETH and a total trading volume of 2,235 ETH at the time of writing, it’s safe to say that portions of the community are still chasing the idea of owning an Ape, regardless of whether it is a derivative or not.
It’s anyone's guess as to how long this copycat trend will last, but it seems to provide a great avenue for folks looking to turn a quick profit.
An example would be the 10ETH sale on Caked Ape #5909, which was bought for 0.235ETH and sold within 24 hours for 10ETH! The speed of the turnaround, as well as the profit margin that ensued, is mind-boggling to me. Who is buying these NFTs? Why are they buying these NFTs? What’s the utility? Is it just cool art? Are people crazy? Am I crazy? These are the first thoughts that swarmed my mind. Make it make sense. But regardless, WAGMI.
Meme Drop đź’§
How it Started VS. How it’s Going
— Slam Diego Zoo (@SlamDiegoZoo)
5:51 PM • Jan 11, 2022
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Disclaimer: The Drop DOES NOT provide financial advice. All content is for informational purposes only. The Drop is not a registered investment, legal, or tax advisor or a broker/dealer. Trading any crypto-related asset is extremely risky and could result in significant capital losses.
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