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Bored Ape Yacht Club (BAYC) NFTs are among the most popular and expensive NFT collections. The most expensive NFT sold for $3.4m, and the floor price has been over 100 ETH for several weeks over the past two years. That brings up the question if the BAYC hype might be over and if investors are looking out for new opportunities, such as BudBlockz.
Before you look for a new NFT to buy, it is important to understand what you need to look out for to find the best NFT collections. While some NFT collections seem to perform well without a clear reason, the successful ones usually fall into one of two categories. They are either hyped up because their creator is famous, or they offer a real-life use case which is why people have to buy them to profit from the benefits they offer. It could be a pass to a community, exclusive bonuses, or fractional ownership. Virtual land also falls into this category, where the most expensive Sandbox land sold for $4.3m.
While NFTs in the first category sell for astronomical prices, simply caused by hype, the second category is far more predictable, and the risk-reward ratio looks much better. Plus, NFTs with real-life use cases often start at a very reasonable price and only increase once the general public recognizes their value.
BAYC NFTs mostly fall into the first category. However, the NFTs also give you access to the online Yacht Club, the BATHROOM, and a private Discord server. This NFT collection has been created by the company Yuga Labs. Unlike other famous NFT collections, there are no famous artists behind the collection. But instead, Yuga Labs is exceptionally good at marketing and providing different airdrops for BAYC holders.
Historically, NFTs are usually just hot for a season, though. The first NFTs, called Crypto Kitties, was booming in 2017 but never returned. So, the question is if it will be the same for BAYC. They had a bit of a detached cycle with the bull-run top in April 2022. At that time, the floor price was 150 ETH. Since then, it has come down by over 50%, with a current floor at about 70 ETH. So, it looks like investors are selling their BAYC NFTs and are looking for new opportunities.
New opportunities might come from BudBlockz NFTs. While BAYC has mostly been driven by hype, BudBlockz's Ganja Guruz NFTs have an actual real-life use case, specifically fractional ownership in the marijuana industry. BudBlockz is building the first decentralized e-commerce marketplace for the cannabis trade. They want to increase market access for all participants and enable their community to own a part of the industry.
This is a potential 176b market opening up as cannabis is becoming legalized on growing scale. And with the Ganja Guruz NFTs, you can invest in it by owning a part of the dispensaries and farms and receive passive income in the form of dividends.
However, you will not only be early for the cannabis industry. The BudBlockz NFTs have not even launched yet. It means that you can be one of the first investors in the decentralized marijuana industry and get the NFTs at the mint price, which is usually much cheaper than when they get sold on the secondary market.
Investors are clearly selling their BAYC. The NFT collection has been on a downtrend since April 2022, with its floor price falling by over 50%. It bears the question of what they invest in next. It is most likely, they look for new NFT opportunities with real-life use cases, such as BudBlockz's Ganja Guruz.
Official Website: https://budblockz.io/
Presale Registration: https://app.budblockz.io/sign-up
Telegram Group: https://t.me/BudBlockz
Discord Server: https://discord.gg/s7hBFgvTmN
All BudBlockz Links: https://linktr.ee/budblockz
