NFTs are down, but they’re not out yet. Back to the upside of 2021, when exotic NFTs sold out due to bewildering prices, NFT for the key It sold for $1.6 million (1,000 ether) on Monday. As with most big money NFT deals in recent months, the key has to do with the Bored Ape Yacht Club.
yoga labs, The company behind BAYCFor the past two months, he has been experimenting with merging games and narratives in NFT mint. The story of “The Trial of Jimmy the Monkey” began in December with a (very) short film. You see Jimmy unlocking the space-time continuum by taking the “atomic shit”. Emerging from the gate is an anachronistic monkey who presents a mysterious key, one that Jimmy accidentally swallows. He runs to the bathroom to get her out, but instead passes out.
This led to the game, an infinite runner called Dookey Dash. Owners of Bored Ape Yacht Club NFTs were airdropped from a Sewer Pass NFT that allowed them to play Dookey Dash, where they, as a monkey, traverse through the sewer system to try to find Jimmy and retrieve the key from his belly button. To Real Madrid. (the Pass sanitation NFTs themselves Sold for Thousands of Dollars: There’s been $65 million in volume since it was airdropped to BAYC holders on Jan. 16.)
Dookey Dash is set as a three-week contest. Leaderboards closed on February 8, with unspecified rewards awarded based on high scores. Unsurprisingly, one of the esports professionals has the highest score – an 18-year-old Briton named Kyle “Mongraal” Jackson, famous for his Fortnite streams. On February 15th, Mongraal’s Sewer Pass NFT was turned into a key, the key from Jimmy’s butt.
On Monday, Mongraal announced its decision to sell its main NFT for 1,000 ether, currently worth $1.6 million. “You have agreed to sell the key for 1,000 ETH to @AdamWeitsman,” The esports professional tweeted. “A very nice guy and a pleasure to sell to.”
NFTs, or non-perishable tokens, are tokens on the blockchain that certify ownership of a digital good. For the digital, they hope, it will be a deed to a piece of land. Most NFT sales are for profile pictures, like the Bored Ape Yacht Club, which looks a bit like the digital equivalent of a Rolex (or more often, bought for speculation).
Jimmy the Monkey Trial is a multi-stage trial, with the Dookey Dash and the main NFT being just the first part. Yoga has hinted that it all leads to a new pool, but has yet to say what that pool will look like or how it will fit into the main NFT. Probably He will call Othersidethe upcoming metaverse MMORPG company.
The subject of a speculative frenzy for most of 2021, NFT values began to slide along with the cryptocurrency last May as the Federal Reserve began raising interest rates to fight inflation. Other speculative assets have also declined: Tesla and Netflix are both down about 50% from their 2021 peaks. Cryptocurrency critics see the fall of bitcoin, ether and NFT as the beginning of the end, while proponents bet prices will reach new highs once the economy stabilizes.
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