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After being duped into exchanging valuable pieces for worthless PNGs in a fraudulent swap transaction, a Bored Ape Yacht Club (BAYC) non-fungible-token (NFT) holder has lost many NFTs, including a 'bubble gum ape'. People losing money in Apecoin is not a new thing anymore. After swapping their NFTs at an exchange called 'swapkiwi', the holder known as 's27′ lost the 'bubble gum ape' and matching mutants worth US$5,67,000 (approximately ₹ 4.29 crores). Direct NFT swaps between collectors are possible on this platform, with lower transaction fees. According to the pseudonymous 0xQuit, which shared details of the fraud on Twitter, 's27′ lost BAYC #1584 and two Mutant Ape variants — #13168 and #13169 — to the scammer.
In April 2022, the BAYC's Instagram account was hacked, which shows that vulnerability exists even in some of the most popular parts of this digital currency world which might eventually lead to regret and fear of financial loss among early investors. A scam link was posted on its timeline that would have enabled scammers to steal the investors' money. In fact, according to reports, approximately US$3 million worth of crypto was stolen from the victims.
The hacker compromised the Insta account after posting about a fake airdrop link regarding the company's upcoming metaverse project, which is due to launch later this week. The airdrop was aimed to attack innocent NFT holders and encourage them to participate more and more in this project. The stolen assets include numerous NFT assets from Yuga Labs, the firm supported BAYC, including Bored Ape, Mutant Ape, and Kennel Club NFTs.
Now when the situation is so serious the only question remains is, how BAYC NFT Monetization is the only option for investors to break this "Lost Money" curse? Here are a few ways you can monetize BAYC NFT
Bored Wine Co. is a company that allows BAYC NFT owners to have their unique Apes printed on the bottles of six different types of wine. Featuring a token-gated portal, the Bored Wine service offers BAYC holders the option to either store their unique bottles for free in the company's secure UK cellar or to have the personalized bottles delivered directly to them. A digital version of each bottle is also minted as an NFT and delivered to the address of the purchaser.
Important Note: This project is not affiliated with the Bored Ape Yacht Club, in any way, shape, or form. The Bored Wine Company was created and is operated by WiV Technology.
This NFT is a digital image backed by real physical wines stored in a bonded warehouse in London, UK. This NFT is representative of one case comprised of six bottles of wine.
The song has received rave reviews from his followers, with one describing the song as the perfect intro to NFT music videos. The video is based on the concept of a hybrid cartoon/live-action universe. The song is primarily based on the cities the two rappers are from – Detroit, Michigan, and Long Beach, California – and of course, marijuana. The video has gathered 8.85 million views.
Furthermore, the crypto token apecoin has increased in value by 15% this past week and 21.6% during the past two weeks. The prominent NFT collection's native Ethereum token, ApeCoin, climbed overnight. There are no BAYC NFTs but MAYC's floor value is 17.57 ETH for the least expensive MAYC on the market.
The floor price of BAYC remains under 100 ETH, with the cheapest Ape on offer at 98 ETH. Ape Fest is an annual feast that is organized for BAYC and MAYC owners and enthusiasts. The good news is the time spent enjoying them is 100 percent free, no crypto exchange is required. Today's ApeCoin price bump indicates the controversy.
For some time, Adidas Originals has remained a facet of the NFT ecosystem. Yet, even the company's most prominent drop is centered on BAYC IP. With into the Metaverse, Adidas Originals not only partnered with prominent NFT collector and ambassador GMoney and the popular Punks Comic NFT project but utilized its owned BAYC NFT — which was given the name Indigo Herz — as the spokesperson for an ongoing metaverse x IRL wearables initiative.
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Disclaimer: Analytics Insight does not provide financial advice or guidance. Also note that the cryptocurrencies mentioned/listed on the website could potentially be scams, i.e. designed to induce you to invest financial resources that may be lost forever and not be recoverable once investments are made. You are responsible for conducting your own research (DYOR) before making any investments. Read more here.
