The NFT market has been in turmoil since the launch of a game inspired by the Bored Apes Yacht Club. Hoping to turn a profit, speculators fight to get exclusive access to the game before it’s too late.
Bored Apes Yacht Club is one of the most popular non-fungible token (NFT) collections on the market. Based on the Ethereum blockchain, it is made up of 10,000 monkey faces. Initiated in early 2021, it has largely participated in the explosion of the NFT market, in particular thanks to the interest shown by several personalities, including Eminem.
To surf on the success of the collection, Yuga Labs, the start-up behind the project, has launched several initiatives aimed at expanding the ecosystem around its digital monkeys. The firm has thus issued its own cryptocurrency, the ApeCoinand unveiled its own metaverse, other side. A film project, produced by the Coinbase exchange, is also in the cards.
Despite the crash of the NFT market, Yuga Labs has just inaugurated an online game, Dookey Dash. In summary, this one offers Internet users to rake the sewers in search of magical monkey droppings. The more magic fragments you collect, the more points you earn. Mirroring the Otherside metaverse, the game continues to enrich the imaginary world that surrounds the collection’s NFTs.
A box on OpenSea
Unsurprisingly, access to the game is restricted to holders of an NFT from the Bored Apes Yacht Club and Mutant Ape Yacht Club collections. Only owners of a digital monkey can obtain a Sewer Pass, an NFT made available from January 19. It offers access to the game for a limited period, until February 8. Concretely, users must connect their digital wallet to launch the game online. If the wallet does not contain a Sewer Pass, Dookey Dash will not launch.
Obviously, some Sewer Pass holders were quick to resell their exclusive NFT on an exchange. Shortly after the NFT was released, a plethora of exclusive accesses were offered for sale on OpenSea, the industry’s leading marketplace. There are over 22,000 Sewer Passes by consulting the OpenSea search engine.
The price of access has risen sharply since its arrival on the Ethereum blockchain. At the time this article is written, access is offered at the floor price of 1.88 ether, or approximately 2,800 euros. After an upward explosion, the price stabilized over the weekend. Despite the limited duration of access, the volume of transactions crossed 25,000 million euros in just a few days. Some investors have paid almost 10,000 euros to buy a Sewer Pass.
Read also: an NFT collector lost everything… because of an ad on Google
The inevitable speculation
Investors don’t rush into NFT for the love of gaming. By getting their hands on an access, they seek to speculate on the rise in price digital goods signed Yuga Labs. The holder of a Sewer Pass indeed obtains the right to issue a mysterious new NFT dated February 15th.
Depending on the scores recorded in the game by then, the player will get a different NFT. The individual who achieves the best performance will be rewarded with an exclusive token. Speculators hope that this mysterious non-fungible token will increase in value over time. That’s why they’re scrambling to grab access to Dookey Dash. To boost their scores, players are encouraged to spend their ApeCoin to purchase performance boostersand maximize their chances of winning.
Investors also expect the NFTs generated on February 15 to take a prominent place in the Otherside metaverse. Similarly, the fragments collected in the sewers will be useful in other online mini-games, says Yuga Labs to attract players… and bettors.
Dookey Dash
