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My name is Ben.
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Guys, we got a really interesting video for you today
as I'm going to try to break down some of the reasons
that we could be seeing a flippening in crypto.
Now, usually, when we talk about a flippening, we're talking about
can anything pass Bitcoin?
The flippening, specific, if you're newer to crypto, refers to a moment in time
when any coin will pass Bitcoin.
Now, I think as we go down the road, we'll use this word a little more broadly.
I think, at some point, it could mean
is there a smart contract platform that can flippen Ethereum?
Is there an exchange token that can flippen Binance Coin?
Today, we're going to be talking about
is there an NFT project that could flippen CryptoPunks?
The No. 1 NFT project out there.
By far, the most valuable.
And I'm going to give you guys, at the end of this video,
I'm going to give you guys a tip.
Some advice, I think.
Not financial advice, of course.
A tip on something that you should be looking for,
on alert for, kind of the next big thing.
So
let's talk about this.
CryptoPunks.
Some of these things have sold for over a million dollars.
These are NFTs---non-fungible tokens.
They're really collectibles, is what they are.
My wife has taken a picture of me doing a video.
She's over here.
Say hey, honey.
Hi.
Thanks. I don't know if they heard you or not.
She's very soft spoken.
Very soft spoken.
So, you know, the thing is, is that
CryptoPunks is one of the oldest NFT projects around. Okay?
Going all the way back to 2017, is when I believe that it began. Okay?
And back then, people weren't talking about NFTs.
They were talking about ICOs and altcoins and all this stuff.
Then it's very simple.
It's called, you know, a generative trait,
a generative trait NFT.
These are where you have a very simple JPEG, an image,
and you've got this gigantic combinations of traits or attributes that can be placed onto them.
And I think there's 10,000 of them total,
is what I think there is.
I think there's 10,000 of those.
10,000 of many other collections.
I could be wrong on that number.
Just going from memory, I believe that's the number.
And the fact is,
they go way back.
It took a long time for this to pick up steam and for people to get interested about this.
Now, keep in mind,
they're selling for a million dollars right now.
Okay?
So, they've been the most popular,
but we've had a very interesting development.
The Bored Ape Yacht Club--
which I actually own one.
The Bored Ape that we have, it is what I call the ETHter Bunny.
It's got--
it has--
it's a CryptoPunk--
or, I'm sorry, it's a Bored Ape that has rabbit ears.
Very appropriate for, you know, all of our ETHter activities last year.
The Bored Ape Yacht Club has come out of nowhere.
This is not an old project.
I think it was began early in 2021,
if I'm not mistaken.
But something has happened.
The thing you need to look for in these NFTs are the floor price.
This is the bottom price that they're selling at. Okay?
It's kind of like if you had, like, a really cool baseball card
and you went and you looked up all the prices.
Whatever the lowest one is sold for,
that's what you know,
"I can at least get this much for it."
The floor prices for CryptoPunks have been falling.
They've been dropping off like a rock here.
The floor price for the Bored Ape Yacht Club has been rising tremendously.
Now, one of the reasons for this, a lot of people believe,
is that when it comes to the Bored Ape Yacht Club,
the Apes,
they're owned by many, many more people.
Even though they have like the same amount of NFTs,
the biggest wallet has 105 Bored Apes.
Out of 10,000. Okay?
105.
The biggest wallet has only 1%, basically.
1.05%.
So because of this,
there's a bigger, and what some people would consider to be,
I mean, maybe it's not the right wording,
but a more fair distribution of these NFTs out there,
which means people are more likely to flip them because people aren't kind of hoarding on to them
in order-- it's kind of like the difference of Blackrock buying like a million homes
or someone just, you know, buying a house to flip it.
That's generally what it'd be like.
Blackrock will hold on to those much longer because they have more value in there. Okay?
So the thing is,
are we going to see a flippening in NFTs?
Are we going to see the Bored Ape Yacht Club flip CryptoPunks?
I believe the answer to that is yes.
One of the things that Bored Ape Yacht Club has been doing is a lot more marketing.
CryptoPunks does basically no marketing.
CryptoPunks is kind of like a st-- in my opinion,
CryptoPunks is kind of like a star athlete that just knows they're really good,
and so they feel like they don't have to practice or they don't have to show up for team stuff.
Like the CryptoPunks, they're just like, "Hey! We're the best. It is what it is."
Meanwhile, the community of the Bored Ape Yacht Club,
they are out there pushing this.
They are making deals.
They are making partnerships.
They signed a gigantic partnership with Adidas
to put out a Bored Ape Yacht Club,
you know, avatar, basically.
They put an Adidas jacket on top of a Bored Ape.
And you're seeing Animoca Brands partner with Bored Ape Yacht Club.
This is getting pushed further and further and further.
Meanwhile, the CryptoPunks is not getting the same push!
Large people--
Ah! Large people.
Some people will call me a large person.
Whales in crypto,
people that you know that have a lot of money,
they buy a lot of these CryptoPunks.
They buy them because they have the money to do it.
The average person still can't do it at this point.
The Bored Ape, still right now, it's super expensive,
but it's much more affordable than the CryptoPunks right now,
so that can help it get some momentum.
But it's really these partnerships.
I believe what we're going to see is we're going to see corporations
buying some of these Bored Apes,
and this is going to push the floor price of these up much further.
And so I do believe there's a great chance that we see the Bored Ape Yacht Club NFTs
pass CryptoPunks.
Now, you may be sitting there saying,
"You know what, Ben? I don't have $300,000 to buy an NFT."
And God bless your soul
because you're like 99% of people out there.
More than that. 99.9% people.
And I never dreamed I would be in a position to own one of these at these crazy prices, alright?
We made a decision we're not buying a CryptoPunk right now, by the way.
If they dropped considerably, we might buy one at some point,
but I understand that's like a fantasy for a lot of people to buy those.
So people are looking at the next big thing in NFTs.
And I think that is a worthwhile endeavor
because one thing we're going to see I believe when Ethereum flippens Bitcoin down the road
is the sheen, the shine, of Bitcoin is going to be gone to a certain extent,
and we're going to see it's vulnerable to get passed.
If Bored Ape Yacht Club were to pass CryptoPunks in floor price,
I think we would see a flurry of projects out there trying to be the next Bored Ape Yacht Club.
Bored Ape Yacht-- yeah, I did say that right.
Sometimes, I-- it's a lot of words.
A lot of words. Like, four words.
You would think I didn't talk for a living.
But the fact is, is that if I were you,
and I were in a position where I didn't have enough money to purchase a lot of these,
like almost everybody doesn't, okay?
I would be really paying attention to newer NFT projects
or some of the ones like Pluto Alliance, our NFT project that's been around for a while,
I'm not trying to push that on you right now, but I'm just saying,
that have been around maybe for a couple months
but haven't necessarily been around for a really long time,
and try to find the next project that could be the one to push NFTs further.
The things you look for,
the No. 1 thing you look for in an NFT project,
community.
Look for one that has a giant massive community that is super excited,
fervent,
you know, really passionate about that NFT project.
It's not just about people flipping them for money,
which is the vast majority of NFT projects out there.
So,
in my opinion, I think it's great to try to look for the next NFT project
that can be successful,
and you could be setting something where you put 0.3 ETH in,
and later down the road, it's worth 100 ETH.
We've seen it over and over and over again.
But the market is saturated,
so-- oversaturated,
so you have to look for gems,
and it's much harder than just scrolling on TikTok
and finding somebody talking about some NFT project.
Be careful. A lot of these are rug pulls as well.
Make sure you're getting into the right ones.
Alright. Well, who would have thought a nice Saturday night NFT conversation would be what it is?
That's what it is.
Bitcoin, please go up overnight.
That's all I got. Be blessed.
BitBoy out.