In December 2021, a user named max accidentally posted his Boring Ape NFT on the Internet for 0.75 Ethereum, which is almost $3,000. As a result, he just discovered the error and had not had time to correct it. This Boring Ape NFT numbered 3547 was purchased by a robot that monitored special price behavior. The buyer even paid an extra $34,000 to speed up the transaction process in order to speed up the transaction and prevent others from snapping up the property before it was completed. Why would anyone be willing to spend so much money to grab an NFT that is often used as an avatar? The reason is simple, because it is too valuable. After buying it, the buyer resold it for 59.99 Ethereum coins, which is almost 220,000 US dollars, making almost 200,000 dollars overnight. On the one hand, this incident tells us that we must be careful when typing on the keyboard. A wrong decimal point may lead to losses. On the other hand, friends who are not familiar with cryptocurrency may wonder why someone is willing to spend hundreds of thousands of dollars to buy something virtual that seems to have no actual value?
In today’s article, Gao Ge will talk to you about NFT, a new product in the crypto world. Why can someone become a millionaire overnight through it? What opportunities do ordinary people have to participate? Can the crypto world be explained by traditional business logic?
Before entering the analysis, I would like to introduce a term to you, called Boring Ape Yacht Club. Of course, this is not a real yacht club, but an NFT project with 10,000 original themes created by yugalabs. Each of the source NFTs has a different dress and shape, so they look somewhat similar and have their own unique characteristics. After these apes are bought, because they are very recognizable and each one looks different, they will be used as avatars by buyers. Therefore, people also like to call them pfpNFT.