The Daily Alpha 4/25- A daily breakdown of the NFT market with some notes from The God. This is a more detailed version of my breakdown on Twitter. Any and all feedback is welcome!
Yuga Labs Sale Details Released
For those that missed it Yuga Labs and Otherside finally released launch details on their land sale. If you submitted all your personal information to the SEC, sorry KYC then you are eligible to be a part of the dutch auction on Saturday. The auction will be completely in Ape coin. Hopefully the Yuga team didn’t hire the developers from the Akutar team to build the auction smart contracts (too soon?). All Mutants and Bored Apes are confirmed getting land. As a mutant holder I will probably be selling my land in the short term. This might come off as a hot take but I’m bearish on this release for several reasons which I’ll detail more in an upcoming long form article. In the meantime I’m sure this will go down as the highest volume release in NFT history, passing Moonbirds from a week ago.
Bored Ape Instagram Hacked
Yuga Labs loves being in the news for one reason or another. Right before the Otherside news came out, the Bored Ape Instagram was hacked and posted a fraudulent link to a mint. By clicking this link all the contents of your wallet were immediately drained and sent to the hacker wallet. Lessons learned here: Don’t trust links from unverified sources and especially don’t even trust links from verified sources. I’ve long been a proponent of never minting and never making transactions on any site except Opensea, and this incident backs that up more.
10KTF Takes off
As predicted in my Daily Alpha from last week, 10KTF is catching ricochet pumps from all this Bored Ape news. After more rumors continue to swirl about a potential partnership between Yuga and 10KTF, large sweeps of 10KTF have been taking place over the last 24 hours. About a month ago I picked up 2 daypacks with mutants on them from 10ktf and will continue holding these. My hope is these 10KTF genesis items will act as a “cow” for me and produce me more NFT’s in the future.
Adidas Announces Physicals
Adidas’ response to Nike’s big NFT release has finally come in the form of a physicals release. No details have come out yet around what this physical item might be but based on every NFT related physical release that’s ever happened I would hazard a guess it involves black t shirts and hoodies with bright graphics on them that will instantly reduce your chances of finding a potential romantic partner. I’m not buying more Adidas passes here, getting a hoodie for buying a $6,000 NFT just does not add up for me. I’m hoping for more announcements on utility in the short term.
Project I’m Watching: Everything Except Bored Ape Land
That’s right. In the middle of peak Bored Ape land hysteria I’m looking at literally every single project except for their land sale. My prediction is most projects will dump this week so people can buy Ape coin in preparation for the sale. I in turn will be selling all my ape coin into this pump and buying up the projects that will be dumping. I’m looking to get into Clone X, Doodles, potentially more Kennel Clubs, and other blue chips that might take a hit here. 99% of people are going to try to get into Bored Ape Land. 99% of people can’t all win at the same time. You have to be in that 1% to truly win in this space. When others zig, you need to zag.