Invest in Bored Ape Yacht Club

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Today is a deep dive into Bored Ape Yacht Club:

  • Bored Ape 601 IPO’ing on Rally

Insiders you get one dedicated email for each asset with more analysis, comps, and full valuations. We also give the AA Verdict for each card: a straight up Yes or No. Free members only get a weekly roundup.

Last week, I made a couple bone-headed copy-paste mistakes due to tiredness and haste. The valuations and verdicts weren’t affected, but it was sloppy, and you deserve better. Apologies.

Bored Ape 601

About the asset

This is Bored Ape #601; one out of 10,000 Bored Apes from the Bored Ape Yacht Club (BAYC) NFT collection. According to rarity.tools, Ape #601 has a rarity rank of 7,522 with its most rare trait being the “Rage Mouth,” which a total of 266 Apes have. Ape #601 also has a purple background, eyes closed, cream colored fur, and its second most rare trait – a sailor’s hat. This is the first Bored Ape offering on Rally, following two successful IPOs of CryptoPunks. Ape #601 is being offered for $165,000 after Rally acquired the NFT on September 9 for 42 ETH, or what was approximately $146,000.

Rally will be IPOing the Ape on a rolling basis, emailing collectors throughout the week with a link to the investment portal. Collectors started receiving the links on Tuesday, Sept. 8.

About the drop

This asset will drop on Rally 28th Sept and will remain open until 1 Oct. It has a market cap of $165k and no retained equity.

About Bored Apes Yacht Club

Yuga Labs released the collection of 10,000 Bored Apes in April for approximately $200 each at a cost of 0.08 ETH. Fast forward five months later and one Ape has sold for $2.9 million dollars, providing the owner an astounding 14,499% return on investment. Five more have sold for more than $1 million.

Bored Apes range in price, some selling for the aforementioned $2.9 million while on the other end some selling in the low $100,000 range (not bad considering the initial $200 investment). Much of the price depends on the rarity of the Ape traits, with laser eyes and solid gold fur commanding a premium.

BAYC has quickly become one of the blue-chip NFT projects in the space, joining CryptoPunks and Cool Cats as the most popular and widely recognized profile picture (PFP) projects in the world. Bored Ape holders have also received offshoots of the original NFT including “Mutant Apes” and “Bored Ape Kennel Club,” that have become successful in their own right.

Recent sales history and Valuation

DAPPRadar values it at around $125k.

[Detailed Analysis Available to Insiders]

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Author

Horacio Ruiz

Horacio Ruiz

Horacio is a veteran math teacher of the New York City public school system. Prior to teaching, he lived in New Orleans where he worked in sales for the New Orleans Hornets before joining The Institute for Sport and Social Justice to rebuild homes in the Lower Ninth Ward and neighboring St. Bernard Parish. He currently lives in Staten Island with his wife, Alicia, his three sons; Oliver, Henry, and Jacob, and their pitt-mi,x Tipitina. In 2019, Horacio published a biography, The White Knight: Calvin Patterson and the Integration of Florida State University Football.

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