How to make a million dollars buying digital cartoons of apes. No, really. | DaveLieber
Watchdog Dave Lieber explores a strange crypto world where digital artworks are suddenly worth millions of dollars.
This month, Melania Trump announced she’ll auction a white hat she wore as first lady, along with digitized versions. She previously offered an NFT watercolor drawing of her eyes. Jennifer told me how she spent $5,000 on a ‘dogecoin” investment that was miniscule. It was like 0.0001 of a coin, she explained, similar to a penny stock. After several months, she sold it for $20,000, an excellent 4-to-1 return on investment.
Logo from Ape Fest 2021 in New York City where members of the Bored Ape Yacht Club, an online community, met for the first time in person. How are 30 digital drawings of apes worth $10 million? Jennifer estimates her apes are worth $6 million, and the “traits,” or add-ons, she’s bought for them – robes, hats, hair -- likely add another $4 million.
Web 1.0 was the beginning of the World Wide Web. People and companies had their own static web pages.
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