Over the past two years, immutable tokens (NFT) have become one of the most exciting things in the blockchain world. The artwork, photos and links were sold for large sums of up to millions of dollars on several occasions. But as the debate continues over the suitability of tokens that are not at all interchangeable with any value, even after some major scams and price drops for some groups, some symbol groups continue to succeed today with astronomical prices for some of them.
Here we will look at a set of arguments representing 10,000 different and unique monkeys that were introduced in 2021 and quickly purchased in full in just 12 hours. Now, each of these monkeys is expected to cost anywhere from $ 200,000, with some even millions. But what makes these monkeys so special and why are they so valuable?
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It started as an art project involving the creation of 10,000 similar models of monkeys drawn in an almost uniform art style with semi-stable facial expressions. When put into circulation, each monkey cost 0.08 Ether, about $ 190 at the time of sale. But that price rose gradually until last August, when it really exploded.
Now these monkeys cost a minimum of more than $ 200,000. There are also some recorded sales of rare monkeys costing several million dollars. The interesting thing is that these monkeys have become very popular with social influencers, social media stars, and even art stars lately.
One of these monkeys is owned by the very famous TV presenter Jimmy Fallon who has 50 million followers on Twitter, while the others are owned by the group The Chainsmokers, some monkeys by musician Steve Aoki, as well as DJ Khaled and some personalities of major in the world of social media, music and art.
Finally, a collaboration between Adidas and this group of symbols took place in a large wave of collaboration with groups of immutable symbols. The official Adidas Originals Twitter account even contains a picture of the monkey the company currently owns.
There are actually plenty of examples of what monkey owners have done selling their monkeys, where one of them created a Twitter account for his monkey, made his life story and made him a servant in his imaginary club of yachts with these icons. . Not long ago, a social media management agency signed a contract to use this fictional monkey for marketing and even his autobiography is currently being written by prominent names in the writing industry.
Where do NFT tokens first get their value?
In principle, the value of NFT arguments can be divided into three basic factors that go together. Part of the value comes from the fact that these lands are distinct and diverse and represent a particular work of art, or that there are other important owners, which motivates the rest to participate in ownership as it represents an exclusive club in principle .
The second factor is that there is a strong, continuous, and interactive community behind the set of arguments, so there are new features and different ways to deal with these signs over time. While the third and most important factor is probably the existence of a particular use or utility for these symbols. Where some icons are marketed as a fad for the world of metaphysics, for example, while others claim to offer special features to their owners in a way that makes their lives easier.
In the case of the monkey group, there is actually a mixture of all three factors together. The developer community behind this group is very active and has introduced some new features over time. One of these features, for example, was the ability to add a random “transformation” of monkey owners to produce a new token derived from the original monkey, and these modified monkeys are currently traded for tens of thousands of dollars.
The community of these icon owners is also one of the most exclusive in the world, as they seem to be highly sought after in the entertainment world with a large number of famous and influential artists, musicians and personalities owning their icons from the collection. So owning one of the group monkeys turned out to be a status statement and a way to be proud, in the eyes of many people, in fact.
Finally, a special factor are the exclusive features that unlock these codes and at the moment this is a real club that unites the owners of these codes. For the owners of these symbols are held some exclusive celebrations and there are a series of activities that take place periodically to increase communication and cooperation between club members.
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Monkey signs as an investment, for example?
In the recent period, many people have seen the field of non-exchangeable tokens as a place to invest and possibly win. Where the high price figures of these arguments attracted many aspirants to achieve abundant and rapid profits, even if it was a great risk. In the case of this group of monkeys, everyone seemed optimistic about it, as prices seem to continue to rise, which makes it attractive as an investment for many.
The problem here, of course, is that these monkeys or other NFTs are almost subject to fashion, and while these monkeys are now appearing on celebrity accounts with great pride, sooner or later they will be replaced by another fad in it which point of demand because they will fall dramatically and anyone who has bought these lands as an investment will find themselves in a very difficult position
The fate of these or other monkey symbols is truly unpredictable and whether they will continue as a valuable commodity for years or will soon disappear from human interest. What is clear, however, is that immutable tokens have a status similar to things like swap cards and even 90s Beanie Babies. As is well known in financial circles, the field of barter and these puppets was speculative and betting as a major investment for the future before their prices plummeted as a result of the manipulations. Although this fate is not inevitable for irreplaceable symbols, it is a possible possibility that we must consider when thinking about them.