2025-12-29 12:24:19

How much are those NFT profile pictures bought for $550,000 now worth? About enough to buy two bags of chips. This is not a joke; this is the real situation for BAYC (Bored Ape Yacht Club) players today.

Three years ago, these monkey avatars carried the dreams of many to get rich. Some used them to buy houses, and changing your Twitter avatar to a monkey became a status symbol. At that time, Bitcoin surged to $69,000, celebrities jumped on the bandwagon to show off their monkeys, and the entire market was crazy.

Then 2022 arrived. Bitcoin plummeted 75%, and NFT trading volume was cut in half. The yacht parties that were once promised ended up just being Discord chat groups, and metaverse land became a 404 wasteland. At this point, everyone realized these were just pie-in-the-sky promises.

The problems didn't stop there. There are only 10,000 genuine apes, but over 100,000 counterfeit monkeys are roaming the market. "There are more monkeys than dogs," this phrase started circulating in communities. Early players had already cashed out and left, while later bagholders lined up on rooftops.

Now, the floor price of BAYC has fallen to around 0.5 ETH, equivalent to $321. The once-dreamed JPEG investment is now just a joke on the blockchain. Spending $550,000 on a picture? You might as well stockpile some chips — at least you can eat them.

BTC-0.38%

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DegenWhisperer

· 4h ago

Haha, it's really tragic. How regretful must the early investors who bought in at the beginning be now?

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BlockchainRetirementHome

· 4h ago

This is the true portrayal of Web3, just a Ponzi scheme. Early believers indeed made money, but wave after wave of newcomers came to take over, and in the end, no one could escape. NFTs are just like that; once the hype cycle passes, the true nature is exposed, and the value of JPG files is essentially zero. The rampant imitation monkeys are well said; the true scarcity has long disappeared, relying solely on psychological expectations to support it. Although it’s harsh to say, BAYC has already become a living lesson of NFT overhype. On the other hand, these guys who bought in at high prices must be feeling pretty crushed now. Human nature, always swinging between greed and fear.

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SignatureLiquidator

· 4h ago

Really hilarious, the once-iconic status symbol has now become a joke in the community. This is the whole story of BAYC. --- The bagholders are probably all in regret now, wishing they had listened to the advice "better to raise a dog." --- Bought for 550,000 and now the JPG has dropped to chip prices—I can't even imagine that scene. --- Counterfeit monkeys are everywhere, while genuine ones have become rare collectibles—so ironic. --- Is the Discord chat still active, or has everyone dispersed? --- So are people still buying the dip in BAYC? I really don't understand. --- Early cash-outs are all laughing, treating the later bagholders as fools. --- The metaverse land being 404 is truly the end; we can never go back, brothers. --- Spending 550,000 to buy two bags of chips—I'll remember this meme and use it to mock the crypto world next time. --- In the face of Bitcoin's 75% decline, NFTs are insignificant; everyone should kneel.

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tokenomics_truther