October 20th’s NF3 Recap: Playboy, Bitcoin ATH and Bored Ape 8585
There is a lot of excitement in the crypto community today. First thing’s first, Playboy announced that they will be dropping their own NFT project. Also, Bitcoin ripped past its previous all time high. Bored Ape 8585 was sold for an outstanding price, and massive Chinese e-comm brand JD.com launches their own NFT project. All of that plus more in today’s NF3 Recap.
If you're just tuning in, make sure to check out the last edition of NF3.
This article does not constitute formal financial advice. Always do your own research before investing.
1. Playboy launches their NFT project Rabbitars
You read that right! Playboy is officially dropping their own NFT project called Rabbitars. The project features 11,953 tokens which live as ERC-721 tokens on the Ethereum blockchain.
These tokens may not get you into the playboy mansion in the real world, but one look at their roadmap says they may get you into what’s called the MetaMansion. We will know more about that come next year.
The mint price for a Rabbitars NFT will be .1953 ETH (the date they issued their first magazine). Rabbitars drops on October 24th for the whitelist folks available to purchase with ETH only.
Come October 26th, the drop will be available to the public, but you can only buy with fiat. That is until October 27th when everything goes live to the public, including ETH purchases.
I’m curious to see how the rest of this project plays out, especially considering the mention of a MetaMansion, which I can only assume will be built in the metaverse.
2. Bitcoin blew past it’s all time high
The last time we heard about Bitcoin reaching an all time high was back on April 14th, 2021. As of today, Bitcoin officially blew past its previous all time high of $64,804, to now more than $66K per one BTC.
As Bitcoin continues to climb in value, those who have been holding on tight continue to celebrate as the topic has been trending across social media all day. Though it is an exciting time, I’m personally curious to see how long it will take for some to start panic selling the minute the value decreases. Only time will tell.
Along with the rise in Bitcoin, the ETH community is seeing some positive increases in value as well. Surely, if the value of ETH stays steady around the $4,000 mark for long, the NFT marketplace is sure to notice as well. We will have to see where this all leads us in the weeks coming.
3. Bored Ape #8585 sold for an astonishing 2.7 million
What use to be Matt Kalish's Bored Ape #8585, became the most valuable BAYC officially at 11:15PM last night, with a record breaking sale of 696.969 ETH ($2.7 million). This almost comes as no surprise considering there have been two other Bored Apes to sell for over $1 million this month alone.
I think this just goes to show that the market, although very new, seems to be very promising when it comes to NFT projects that have decided to build a brand around their digital assets. BAYC is a great example of what NFTs are capable of in terms of brand building. I am excited to know how the BAYC brand plays out in the long run. So far, they appear to be doing an amazing job.
Other noteworthy mentions:
In other news, Chinese e-commerce mammoth JD.com, announced that they will be dropping their NFTs on their own blockchain! Using their blockchain, JD.com plans to drop 7 different sets of commemorative non-fungible tokens, with each one representing a different forum from their 2021 JDD event.
Only people who sign up for the 2021 JDD conference, from now to Nov. 22, will be eligible to receive their free JD NFT.
Moreover, for all you sport fans out there who just happen to collect NFTs, I have found a project you may want to check out. A 17 year old rising basketball star known as Mikey Williams is launching an NFT project with the help of I Got It—a technology company that creates and mints NFTs to go along with their physical memorabilia.
Mikey’s project membership will feature three different levels of NFTs: Black, platinum, and green, all of which have been created to celebrate Mikey’s accomplishments on his way to stardom.
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