Few things have been more fascinating and frustrating to witness in 2021 than the rise of million-dollar NFT profile pic projects. The collections of 10,000 procedurally-generated JPGs earning market caps of hundreds of millions at the hands of seemingly naked speculation have bewildered skeptics and enriched acolytes.
The promise for most of these projects has that given enough money and community support, a culture and brand can emerge from the ether. Such has been the pitch of Bored Apes Yacht Club (BAYC), which has become the break-out NFT project of the year as more users have raced to buy the pictures of monkeys and sent floor prices soaring to hundreds of thousands of dollars. Part of that value has been centered on the belief that BAYC can become a cultural touchstone, and the group took a big step towards that goal today announcing that they’ve partnered with blockchain gaming unicorn Animoca Brands to release a Bored Apes-themed game next year.
The game has an admittedly steep challenge ahead of it, building a mainstream game around a community with a prohibitively expensive barrier to entry. Weighing the exclusivity of the core NFT project with the democratization of assets needed to build up a substantial user base is a balance that has yet to be achieved, or even attempted, at scale.
The company’s press release announcing the title had scant details to share other than that the game will feature so-called “play-to-earn” mechanics and is targeting a Q2 2022 release date. Yuga Labs, the developer behind BAYC, has previously detailed that they are working on a token tied to the project.
In October, Hong Kong-based Animoca Brands raised $65 million at a $2.2 billion valuation.
Hi there! My name is Peter Kavinsky, and I am an author at CableFreeTV.org. I am passionate about journalism, and I bring my years of experience and love for news to my role as a writer for this incredible platform.
I graduated from the University of California, Berkeley with a degree in Journalism, and I have spent the last ten years writing for a variety of news outlets. My experience includes covering topics such as politics, business, entertainment, and technology for major news organizations like The New York Times, CNN, and MSNBC.
As a writer for CableFreeTV.org, my primary responsibility is to collect and publish news articles from around the world. I am dedicated to providing our readers with accurate, reliable, and timely news coverage on a wide range of topics. I believe that access to quality news and information is crucial for a well-informed society, and I am committed to doing my part to ensure that our readers have the latest and most important news at their fingertips.
When I’m not writing, I enjoy reading, traveling, and spending time with my family. I am also a sports fan, and I love cheering on my favorite teams. As an author at CableFreeTV.org, I feel incredibly fortunate to be part of a team that is committed to providing our users with the best possible streaming experience and access to the latest news and information from around the world.