⚓️ SEC FUDs the Apes
on Friday, I became a member of the 10K Club. yes, your boy paid $4K for 4 numbers on the blockchain.
could I have bought something more substantial with that money? absolutely (there’s a den in my new house that desperately needs a remodel).
but I explained my reasoning in (yet another) thread *see below*.
what made me pull the trigger?
I *slightly* mentioned it in the thread, but the ENS community (in particular, the 999/10K club) has very much impressed me over the past few months.
they’ve made something out of nothing…almost literally.
there is no art attached to the 10K Club…hell, there aren’t even letters for people to latch onto. what they’ve done is simply “know their worth.” the NFT community is built heavily upon this concept…your token is worth as much as you think it is *and* what someone is willing to pay for it.
by knowing their worth and slowly infiltrating the NFT community, they’ve convinced enough of us that the price floor for 4 numbers on the blockchain is 2.5 ETH (as I write this).
not bad, huh?
they got me by helping me understand the digits can be a part of my budding “online/Web3 identity”. it’s a historic NFT that has utility as a sort of crypto phone number that also transcends language. oh yeah, and it is simple to understand and read…even for someone outside of the NFT community.
that’s more than most NFTs can say. and that’s why I’m 2291.eth now.
uh oh…the Securities and Exchange Commission is coming after the Apes. word dropped on Tuesday morning that the SEC would be investigating the ApeCoin offering.
it came with a precipitous drop in $APE’s price too…dropping almost 10% on the heels of the news.
the investigation shouldn’t come as a *huge* shock though.
as those within the NFT community know, it wasn’t *exactly* the most clandestine of airdrops; it was riddled with rumblings, rumors, and *likely* insider trading.
(remember how everyone knew about the Mutant+Ape+Kennel bonus before it was even announced?)
plus, to think that regulation like this won’t be coming from your favorite coins and NFTs soon is to have your head in the sand. we’ve had a target on our backs for a while now…and it shouldn’t be surprising that the SEC has chosen to go after Yuga in order to strike fear into the entire NFT community.
it seems like the “wild west” era of NFTs may be coming to an end…with the Trial of Jimmy the Monkey vs. the SEC.
on google, you can search for wallet addresses. other than the obvious downside of people searching me and finding out my net worth (it’s 0 if you’re wondering), I must also ask the obvious question…wen ENS?
the feedback on the rebranding was awesome yesterday! for that reason, I want to plug @kipzeth *again* who made it all possible with their awesome art. give them a look plz!