Brian Roberts’ first move in 2022: APING IN! OpenSea’s CFO just announced his purchase of a Bored Ape Yacht Club (BAYC) NFT via his Twitter account. Currently, the former Lyft CFO can be seen flexing his purchase on his Twitter account.
The announcement released not long after Eminem made his BAYC purchase. Both of them now join a list of celebrity investors including Jimmy Fallon, Stephen Curry, and Post Malone. In fact, his ape has many similar traits with Jimmy Fallon’s ape.
Why are they all aping in?
There is no definitive answer as to why people are buying up BAYC NFTs, or any NFT at all. Many still question the intrinsic value of these JPEGs, and I do not blame them. The value of each piece varies from person to person, similar to traditional art pieces. Nonetheless, there may be a few possible justifications as to why people can’t get enough of these melancholic monkeys, dumping in heaps of cash in the process as well.
BAYC has relatively more utility compared to many NFT projects in the market. Owning a Bored Ape gives you an entrance pass to meet-ups or parties. Imagine chilling with Stephen Curry on a yacht!
In addition, the developers have been actively involved in charities to give back to the community. It can be a great feeling to invest in companies that not only do things right, but do the right things. Owners also have complete control over their apes, further adding to its utility.
Secondly, the ability to flex. In the physical world, people can flex their cars, watches, and other tangible assets. These prestigious apes give people a way to flex their wealth, digitally. Lastly, the more famous people get involved, the more attractive these apes become.
The involvement of OpenSea’s CFO in this community is not the first and will definitely not be the last. Let’s see who’s next!
All investment/financial opinions expressed by NFTevening.com are not recommendations.
This article is educational material.
As always, make your own research prior to making any kind of investment.