👀 Bored Apes Confirm New Upcoming Mint 👀

Yuga Labs confirmation of a new mint for holders sent collectors scrambling to secure their spots this week

Cirrus NFT
December 21, 2022

The biggest name in NFTs confirmed an upcoming mint, one of the biggest names in the world launched a project, and the biggest NFT marketplace continued to lose market share... it was a big week.

Market Update

As expected, Blur's incentivized bidding has led to a sharp increase in the platform's market share. The increased liquidity at collection floors has led to tons of wash trading, as "market makers" who are bidding for the sole purpose of maximizing the amount of $BLUR tokens they will receive quickly re-list their NFTs when a bid is accepted.

As discussed last week, many traders and collectors have been quick to blame Blur for "ruining project floors", but in reality, all that blur has done is make the market more efficient. This thread does a great job of breaking down how more liquidity at project floors leads to more efficient pricing.

1/ The effects of more liquidity on markets is generally very well researched. For the first time in NFTs we have a somewhat liquid order book since Blur launched bidding. This has led to a lot of confusion about the ongoing trading activity and price impact.
— Heca.eth (@0xHecarim)
Dec 15, 2022

The thread mentions how one of the outputs of increased liquidity is less volatility. For the top collections, this proved to be the case as Azuki, CloneX, Doodles, and all Yuga assets remained relatively flat this week.

If you look past the top collection's performance this week, there were quite a few opportunities that presented themselves this week, including a mint of a project featuring....the 45th president of the united states?

Things that worked:

Minting Scottie Pippens SP33 - 0.2E mint now sitting at 0.4E just a few hours after launching
Minting Trump Digital Trading Cards - Minted on polygon for $100, or 0.08E, and two days later peaked at 0.85e
Buying Bored Ape Kennel Dogs - Ran from 6.2E to as high as 8.7E after Yuga announced that Ape holders that hold a dog will have a higher tiered mint for Jimmy the Monkey
Minting Mutant Hound Collars - .25E mint that all holders of Yuga assets were Whitelisted for, currently sitting at 0.6E floor (Trait flipping these upon reveal on Dec 21st is set up to be a great opportunity)

Donald Trump Trading Cards 10x After Selling Out

On Thursday, "Trump Digital Trading Cards" launched with a collection size of 45,000 NFTs at a mint price of $99 (0.08E) per card. The collection launched on Polygon, and took around 12 hours to fully sell out. The cards were available below their mint price for the first few hours post sell-out, but shortly after they went completely parabolic, reaching highs of 0.85e around 72 hours after launching.

The project's website features Trump himself in a two-minute video giving the breakdown of what the cards are. The main utility is that each card represents an entry into a sweepstake with a variety of prizes, including things like a dinner with Trump, a golf session with Trump and your friends, and a Zoom meeting with Trump.

Something interesting to note was that the cards were readily available to be purchased with credit cards. Many of the buyers had never used a crypto wallet and as a result, had no idea how to sell the cards once they received them. @0xvopa does a great job of breaking down how this was one of the driving factors in the parabolic price action of the cards:

for anybody who doesn’t understand why these trump digital trading cards are doing so well, despite having such a high supply (45000).
a high percentage of buyers have literally 0 idea how to sell or even access them in the first place.
— vopa (@0xvopa)
Dec 17, 2022

Yuga Releases More Info On The Trial Of Jimmy The Monkey

You won't believe your eyes. Details in 🧵 https://t.co/gpp7wjDPs3
— Bored Ape Yacht Club (@BoredApeYC)
Dec 20, 2022

On Tuesday afternoon, the BAYC twitter account tweeted out the thread above and gave some cryptic details on the rollout of their next roadmap item; The Trial of Jimmy the Monkey. The Trial is set to kick off on Dec 21st with a short film that will give more context on what's to come.

The thread confirms that there will be a minting experience for BAYC and MAYC holders that will "test your knowledge and skills". It's not exactly clear what this means, but it seems as though there will be some type of game that holders will have to play in order to mint whatever it is that is coming.

Maybe the most important detail from the thread was that MAYC and BAYC holders who also hold a Kennel Dog will be placed in a higher tier than those that don't hold one.

Pro-tip: When it comes to the mint, Apes (BAYC or MAYC) who also hold a BAKC will be in tiers of their own. There will also be an optional $APE spend mechanic, for those looking to enhance their minting experience. https://t.co/suAMva2Pfi
— Bored Ape Yacht Club (@BoredApeYC)
Dec 20, 2022

This little tidbit sent BAKC flying from 6.2E to as high as 8.7E before settling closer to 8E as holders rushed to secure their spots in the higher tiers for the mint.

Here are updated numbers on how much of each possible tier can be minted in the upcoming @BoredApeYC free mint game (under the assumption that people will maximize their tiers)
Tier 4: 4236
Tier 3: 5808
Tier 2: 2852
Tier 1: 16714
Unpairable BAKC: 2618 https://t.co/Ek9LjRx3k9
— wave (@0xWave)
Dec 21, 2022

Something interesting to keep an eye on is the number of eligible mints per tier. At the time of writing, Tier 2 (MAYC + BAKC), stands to be the rarest tier with only 2852 wallets eligible to mint. It's unclear whether each tier represents a completely different collection or subset within a collection, but there will for sure be some fun game theory to come over the coming weeks!

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