Summer Swap token was a reward earned from FIFA's Summer Swaps program. The program tasks players with [earning the tokens](/news/category/gamefi) through the completion of in-game objectives and Squad Building Challenges (SBCs). Once players understood how to get the token, and earned them, they can be traded for rewards. 

## Summer Swaps 2 

This is the latest token system in FIFA 22. Players can earn a total of 50 tokens from the program. Tokens earned can be redeemed for the following untradeable rewards: 

- 1 Token – 82+ x25 Players Pack. 

- 2 Tokens – 83+ x25 Players Pack. 

- 3 Tokens – 84+ x25 Players Pack. 

- 4 Tokens – Icon Moments Zambrotta. 

- 5 Tokens – 85+ x20 Players Pack. 

- 8 Tokens – 94+ Shapeshifter Player Pick (1 out of 4 player options). 

- 10 Tokens – 86+ x15 Pack. 

- 12 Tokens – Hero Shapeshifter Player Pick (1 out of 5). 

- 15 Tokens – 93+ Icon moments Player Pick (1 out of 3 player options). 

- 17 Tokens – 95+ Shapeshifter Player Pick (1 out of 5). 

- 20 Tokens – Ben Yedder Futties 97 OVR. 

- 24 Tokens – 95+ Icon Moments Pack. 

- 27 Tokens – Ben Yedder Futties 98 OVR. 

- 30 Tokens – Di Natale Shapeshifters Hero 97 OVR. 

- 32 Tokens – 96+ Shapeshifters Player Pick (1 out of 5 player options). 

- 34 Tokens – 94+ Icon Moments Player Pick (1 out of 4). 

- 36 Tokens – Icon Moments Cruyff. 

The more tokens collected, the better the rewards. 

## How to get the Summer Swap token 

- 1st token - Chris McCann: Earned after logging into FUT (FIFA Ultimate Team). 

- 2nd token - Joe Murphy: Earned by completing Maxwel Cornet Futties Objectives plus Murphy token. 

- 3rd token - Luke McCormick: Obtained by completing FUT 14 SBC (Squad Building Challenge). 

- 4th - Tomas Durso: Earned by completing Against the Tide (SBC). 

- 5th and 6th tokens - Danny Musovski and Ian Bermingham: Obtained by completing Objectives Win 4 Belgium. 

- 7th and 8th - Mark Oxley and Lars Nieuwpoort: Earned by completing Objectives Win 4 Uruguay. 

- 9th and 10th tokens - Shunsuke Ando and Matthis Harsman: Obtained by completing Objectives One Nation Germany. 

- 11th and 12th - Thijs Jansen and Barry McNamee: Earned by completing Objectives One Nation Netherlands. 

- 13th token - Rorry Gaffney: Obtained by completing Performance is Key (SBC). 

- 14th - Lewis Thomas: Earned by completing Futties Voting Day (SBC). 

- 15th - Dominic Bernard: Buy Futties Foundation Pack. 

- 16th - Waniss Taibi: Complete Casemiro Futties Objectives and Bernard Token. 

- 17th - Camilo Albornoz: Complete Bundesliga TOTS Challenge 3. 

- 18th - Antoine Lejoly: Complete Ultimate TOTS Challenge 3. 

- 19th and 20th - Abdelkabir Abqar and Erik Majetschak: Complete Objectives Win 4 Argentina. 

- 21st and 22nd - Ali Youssef and Ousoumane Camara: Complete Objectives Win 4 Brazil. 

- 23rd and 24th - Lassine Sinayoko and Feyzi Yildirim: Complete Objectives One Nation Portugal. 

- 25th and 26th - Ouparine Djoco and Jack Sowerby: Complete Objectives One Nation France. 

- 27th - Lenny Lacroix: Complete TOTY Challenge 4. 

- 28th - Yosuke Yuzawa: Complete Gelson Martins Futties Objectives and Yuzawa Token. 

- 29th - Pius Kratschmer: Complete Headliner SBC. 

- 30th - A Ndiaye: Complete Shapeshifters Challenge 15 SBC. 

- 31st and 32nd - Abdulwahab Jafar and Jubril Okedina: Complete Summer Swaps III Win 4 Mexico. 

- 33rd and 34th - Dean Lyness and Jaiber Jimenez: Complete Summer Swaps III Win 4 Spain. 

- 35th and 36th - Umut Gunes and Goro Kawanami: Complete Summer Swaps III Objectives One Nation Italy. 

- 37th and 38th - Anthony Uzodimma and Asahi Masuyama: Complete Summer swaps III One Nation England: Win 4 matches in the live FUT friendly. 

- 39th - Hugo Novoa: Win strategy SBC. 

- 40th - Jorge Padilla: buy Futties Foundation Pack. 

- 41st - Yanis Cimignani: Porto vs. Sporting SBC in Marquee Matchups. 

- 42nd and 43rd - Ugo Bertelli and Shilow Tracey: Win 4 Poland: Win 4 Squad Battles matches on min. Professional difficulty with 11 Polish players in your starting squad. 

- 44th and 45th - Edgar Lopez and Halldor Stenevik: Win 4 Switzerland: Win 4 Squad Battles matches on minimum professional difficulty with 11 Swiss players on your starting squad. 

- 46th and 47th - Krisztofer Horvath and Damian Isac: Finish Summer swaps IV Objectives One Nation Belgium. 

- 48th and 49th- Angel Zapata and Abdulaziz Majrashi: Complete All summers swap IV Objectives One Nation Brazil. 

- 50th summer token - Kyle Taylor: Earned by completing All Summers Swaps IV milestone. 

## Conclusion 

[Summer Swaps 2 ](https://earlygame.com/fifa/fifa-22-summer-swaps-tokens-rewards)was launched on 29 July, 2022, and players had up to five weeks to earn the 50 tokens. The live event ended on 29 August, 2022. Those lucky to get the tokens redeemed them for various gaming rewards, including players and packs. The [tokens](/news/article/augmented-reality-tokens-explained) were redeemable for rewards between 12 August and 29 August. 

Hopefully this helps explain how to get Summer Swap token as a FIFA 22 player. 

summer swaps token image with pink filter

How to Get Summer Swap Token

US regulators have accused eight well-known personalities, such as Lindsay Lohan and Jake Paul, of engaging in an illicit cryptocurrency scheme. The charges claim that these celebrities used their social media presence to enhance the value of two [crypto](/news/article/cryptocurrency-news-predictions) tokens without disclosing that they received payment for promoting them.

The US Securities and Exchange Commission (SEC) [officially announced](https://www.sec.gov/news/press-release/2023-59) the charges on Wednesday.
The SEC claims celebrities used social media to share their cryptocurrency promotional messages.

## Lindsay Lohan Charges

On February 11, 2021, Lindsay Lohan, who has more than 8 million Twitter followers, tweeted that she was already liking Justin Sun's cryptocurrencies, which included $TRX.

In the tweet, she praised the currencies' super-fast speed and lack of fees while commending Justin Sun. In March 2021, she [advertised](https://twitter.com/lindsaylohan/status/1377647992639954945?s=20) an auction for an [NFT](/news/article/nft-tax-uk-rules-explored) of one of her songs and tweeted about it on April 1, 2021, saying there were just over 9 hours left to bid.

SEC Chair Gary Gensler stated that the Lindsay Lohan charges and associated cases highlighted the significant risks investors are exposed to when crypto asset securities are marketed and sold without adequate disclosure.

## Other celebrities charged with illegally promoting crypto assets

Charges have been brought against several famous individuals, including musician Soulja Boy (real name DeAndre Cortez Way), aged 32; singer Austin Mahone, aged 26; porn actress Michele Mason (better known as Kendra Lust), aged 44; musician Ne-Yo (real name Shaffer Smith), aged 43; rapper Lil Yachty (real name Miles Parks McCollum), aged 25, and Senegalese-American singer Akon (real name Aliaune Thiam), aged 49.

According to the [SEC](/news/article/looming-coinbase-sec-probe-upsets-coin-price), they are accused of illegally promoting TRX and [BTT](/news/article/btt-crypto-price) crypto assets without disclosing their compensation.

Additionally, crypto investor and Grenada diplomat Justin Sun is accused of fraud for manipulating the trading activity of the two tokens to make it appear as if they were being actively traded. This practice is known as "wash trading".

Except for Mr. Cortez Way, Akon, and Mr. Mahone, all the celebrities, including Lindsay Lohan, have collectively paid over $400,000 to resolve the charges.


red image of crypto coins with celebrities Lindsey Lohan, Jake Paul, Ne-Yo and Akon standing in foreground

Lindsay Lohan Faces Charges from SEC 

No stranger to controversy, Madonna, who's been turning heads for more than 40 years on matters of entertainment, business, and sexuality, is at it again. In partnership with the artist Mike Winkelmann of the Beeple NFT fame, she's lately released a series of NFTs.

## Madonna embraces blockchain

Pop superstar Madonna's entry into the world of non-fungible tokens (NFTs) last March 2022 caught many fans by surprise. She forked out 180 ETH, worth a whopping $560,000 at that time, for a tattooed NFT ape from the Bored Ape Yacht Club ([BAYC](/news/article/bayc-derivatives-explored)) digital art collection. 

Later, in May 2022, the musician released the first Madonna NFT series titled the “[Mother of Creation](https://motherofcreation.xyz/)". The series comprises three digitally rendered videos showcasing a nude woman giving birth to fauna, flora, and technology.

The digital artwork resulted from a year-long partnership between her and Mike Winkelmann, also known as Beeple. Winkelmann made the headlines in 2021 with his Everydays: the First 5000 Days, which fetched $69.9 million at Christie's and set the NFT space on fire. 

## What is the Madonna NFT collection?

The "Mother of Creation" is an exclusive collection containing only three single-edition NFTs. The digital artist and pop/sex symbol is using the videos, showcasing three different motherhood-inspired aspects of life to celebrate motherhood. The Madonna NFT videos give audiences a full-frontal view of the pop star's avatar lying in a hospital bed, forest floor, and rusted vehicle, giving birth. Each of the NFTs is paired with her poetry or that by Rumi, a mystic poet. 

The NFTs are named:

1.	Mother of Nature: The first Madonna NFT, depicting her lying on a laboratory bed delivering a tree that blooms as soon as it comes out of her body, focuses on plant life.  

2.	Mother of Evolution: The second NFT depicts her naked in a run-down city while sitting in some modified vehicle. In the video, her legs are open, and butterflies emerge from her body – the NFT focuses on animal life.

3.	Mother of Technology: The third NFT showing Madonna stark naked and lying in the middle of a forest shows a series of bionic centipedes moving up and down after protruding from her vagina, focusing on technological advancement.

## A provocative NFT collection with a cause
 
To the casual observer, the Madonna [NFT collection](/news/article/are-nfts-dead-investigation) is peculiar but mostly seen as provocative. However, for those in the know, both the theme and execution of the videos are consistent with the character and style of Madonna and Beeple. The amorousness depicted has characterized Madonna’s decades-long musical and artistic career, while the weird renderings speak loudly of Beeple’s typical artwork.

Asked about the provoking nature of her NFT project, Madonna told [New York Times](https://www.nytimes.com/2022/05/09/arts/design/madonna-beeple-nft-videos.html) that the theme was deliberate and wasn't simply "provocative just for the sake of provocation". According to the pop diva, the centipedes and butterflies she gives birth to in the videos symbolize hope and technology.    
  
## Conclusion 

Despite the backlash and initial criticism from the community following the launch of the Madonna NFT collection, the Mother of Creation NFT series fetched more than $600,000. While it may be a far cry from Beeple's $69.9 million, Madonna intimated that proceeds from her NFTs would benefit three non-profit organizations working for women and children. They are the Ukraine-based Voices of Children Foundation, the Congo-based City of Joy Foundation, and Black Mama's Bail Out.

Beyond being a source of entertainment, Madonna’s NFTs indicate that celebrities and charities can, through the [sale and auctioning of NFTs](/news/article/are-nfts-dead-investigation), secure funds for organizations and movements supporting significant causes.


madonna nft created by beeple with image of madonna singing in foreground

Madonna NFT Collection Courts Controversy 

Snoop Dogg is announced as one of the co-founders of Shiller, a Web3-based livestream platform for creators. This investment marks another Web3 collaboration for the well-known hip-hop artist.
Shiller will heavily incorporate blockchain technology, enabling content creators to "token-gate" their streams and promote non-fungible tokens or other e-commerce products. These content creators can receive payment in [Ether](/news/article/ethereum-pow-price-prediction) (ETH) or NFTs, which can be exchanged for fiat currency. 


The Snoop Dogg investment and partnership list includes one with Sandbox in April last year to introduce the "Snoop Avatars" NFT collection. He released the hip-hop track "A Hard Working Man", followed by a 50,000-piece NFT release. He also teamed up with [Yuga Labs](/news/article/yuga-labs-explained), the creators of Bored Ape Yacht Club (BAYC) and CryptoPunks, to perform on a Metaverse-transformed stage at 'MTV's Video Music Awards'. Furthermore, Snoop Dogg has recently become the "[Chief Ganjaroo Officer](https://www.prnewswire.com/news-releases/roobet-announces-partnership-with-entertainment-legend-snoop-dogg-301759861.html)'' at Roobet, a crypto casino, as announced by Roobet on 1 March.

## Shiller launches as part of growing creator economy

The launch of Shiller is likely a part of the broader creator economy movement anticipated to involve Web3 technology. Web1 allowed users to read content and write HTML, whereas Web2 facilitated user-to-user interactions, popularised by a few social media giants, including Facebook, Google, and YouTube. [Web3](/news/article/web3-games-raised-millions) seeks to remove intermediaries by empowering creators to own their content and its revenues fully. Platforms like Shiller emphasise the empowerment of creators to take ownership of their content without the intervention of any centralised intermediaries such as social networking platforms.


Shiller will enable creators to have greater control over the monetisation of their content. According to a [statement](https://shiller.io/dogg/), Snoop Dogg, the co-founder of Shiller, expressed his enthusiasm for partnering with London-based tech entrepreneur Sam Jones to launch the platform. He believes that Shiller allows creators to reach their fans in distinctive ways and monetise their content on their own terms, aligning with his philosophy of directly engaging with his fans.


snoopdog dancing next to Shiller app logo

Snoop Dogg Investment in Shiller 

The Securities and Exchange Commission has charged former Boston Celtics player Paul Pierce for promoting the cryptocurrency EthereumMax on Twitter without disclosing that he was being paid to do so. To resolve these charges, Pierce has agreed to pay a fine of $1.1 million and around $240,000 in disgorgement and prejudgement interest.

## SEC fines Paul Pierce $1.1M for promoting EthereumMax

The Securities and Exchange Commission has [accused](https://www.sec.gov/news/press-release/2023-34) former NBA star and ESPN employee Paul Pierce of violating the federal Securities Act. The SEC claims that Pierce failed to disclose receiving compensation from a cryptocurrency company for promoting their product online and made money from "an untrue statement of a material fact". 

The [SEC](/news/article/crypto-exchange-kraken-faces-sec-probe) further alleged that Pierce misled the public about his holdings of EMAX, sharing misleading screenshots of his EMAX holdings and profits. Also, he failed to disclose that his actual personal holdings were significantly lower.

He has been fined $1.1 million by the SEC for promoting cryptocurrency, EthereumMax (EMAX). This is the same security product that influencer [Kim Kardashian was previously charged for touting](/news/article/kim-kardashian-crypto-ad).

The NBA star used Twitter to promote EMAX tokens without disclosing that he had received more than $244,000 in the cryptocurrency as payment for his promotions. He did not admit any wrongdoing as part of the settlement and has agreed to pay a $1.1 million penalty and disgorge around $240,000.

Furthermore, he has also been banned from promoting any crypto asset securities for three years, according to the SEC.

The SEC Chairman, [Gary Gensler](/news/article/sec-crypto), said the case is a reminder to celebrities that the law requires them to disclose how much they are being paid to promote investment in securities. He added, "you can't lie to investors when you tout a security".

SEC has recently intensified its efforts to enforce regulations in the cryptocurrency industry. On Thursday, it [charged Terraform](/news/article/terraform-labs-accused-of-fraud-by-sec), a stablecoin issuer, and its CEO, Do Kwon, with crypto fraud.


blue image of paul pierce next to SEC logo

Paul Pierce Settles with SEC Over Crypto Row 

Logan Paul, the popular YouTuber, has expressed remorse for the failure of his CryptoZoo project. He apologised to individuals who sustained financial losses from investing in the cryptocurrency game he had promoted as a [play-to-earn](/news/article/best-farm-games-2022) endeavour.

The CryptoZoo Logan Paul initiative initially offered egg-shaped cartoon images as NFTs that could be hatched into randomly selected animal images. Collectors could breed their animals and earn $ZOO, a linked [cryptocurrency](/news/article/what-is-market-cap-cryptocurrency).

However, Logan, who had previously been associated with another unsuccessful cryptocurrency venture, abruptly stopped promoting the project after generating substantial revenue from selling NFTs and crypto coins. It was alleged that he endorsed a fraudulent cryptocurrency called [Dink Doink coins](https://www.sportskeeda.com/mma/news-youtuber-accuses-logan-paul-creating-promoting-dink-doink-coin-cryptocurrency-scam). An anonymous cryptocurrency investor in CryptoZoo has recently demanded that the Youtuber fulfil his initial promises rather than offering refunds.

## CryptoZoo Logan Paul apology

Stephen Findeisen, a cryptocurrency scam investigator who goes by the YouTube name Coffeezilla, recently released a three-part video series in which he labelled CryptoZoo a scam. He interviewed investors from various countries who claimed to have invested significant amounts of money, ranging from hundreds to thousands of dollars, into CryptoZoo products. He expressed their disappointment and anger towards the company's founder, Paul.

On Thursday, Logan shared a video in which he expressed his frustration and acknowledged that he had erred in hiring individuals he deemed to be "conmen" and "felons" to manage his project. However, he denied any responsibility for the project's failures.

He also criticised Mr Findeisen for providing inaccurate information and warned of legal action. By Saturday, he removed the video and apologised to the investigator. He also posted on the CryptoZoo Discord page that he intended to take responsibility, express remorse, and provide a plan for moving forward shortly.

## What do the CryptoZoo investors want next?

A 34-year-old American man shared with BBC News that he had invested $40,000 in the game after being influenced by the Impaulsive podcast. He expressed disappointment in how the project was handled, stating, "the way he dragged everyone along and then just abandoned it with no words is just wrong".

He also noted that he believes Logan is only now attempting to make amends after the Coffeezilla videos. The man stated that while he does not want a refund, he wants to see the project completed as promised and for "founders'' to fulfil their obligations to investors.


red image of logan paul and cryptozoo egg logo cracking 

CryptoZoo: Logan Paul Apologises for Failure 

Following the fall of the [FTX](https://www.ft.com/content/5d826ca9-389e-41ec-a38b-da43211da974) exchange and the market instability, Bill Ackman, the hedge fund manager and investor, says he remains optimistic about cryptocurrencies.

In a recent Twitter thread, the founder and CEO of Pershing Square Capital Management [stated](https://twitter.com/BillAckman/status/1594456744851558402) that, despite current issues, crypto is here for the long run. However, he said there is a need to enhance regulation and eliminate fraudulent individuals from the industry.

## Who is Bill Ackman?  

Bill Ackman is a billionaire American investor who recently advocated for [eliminating regulatory barriers](https://www.bloomberg.com/news/articles/2022-02-09/bill-ackman-calls-on-new-york-to-remove-crypto-barriers) and relaxing laws in New York to turn the city into a crypto centre. He is also an active participant in several [cryptocurrency](https://cointelegraph.com/blockchain-for-beginners/what-is-a-cryptocurrency-a-beginners-guide-to-digital-money) initiatives.

He believes crypto will stay and can benefit society and substantially build the global economy with proper control and regulation. 
However, he claims that technology needs to improve to combat its capacity to be used to perpetrate fraud.

The issue is that dishonest promoters might generate tokens solely to facilitate pump-and-dump strategies. Some cryptocurrencies are utilised for fraudulent reasons rather than for [legal company development](/news/article/rishi-sunak-crypto-believer-uk-pm).

## Bill Ackman is no longer a crypto sceptic

The investor now sees crypto as having "the ability to help society and develop the global economy substantially". 
He added that it could enable the establishment of essential enterprises and technology that could not previously exist.

It can also incentivise venture participants to gain access to a global workforce to promote a project.

Ackman highlighted that appropriate regulation and oversight would be critical in moving the technology forward.

The hedge fund manager's tweet follows the [FTX crash](/news/article/gemini-crypto-exchange-falls-prey). According to sources, he congratulated former FTX CEO Sam Bankman-Fried for admitting his faults in a tweet but afterward deleted it.

In his post, [the investor](https://www.theblock.co/post/188684/bill-ackman-says-crypto-is-here-to-say-but-highlights-a-curious-use-case) used Helium, a blockchain-based network, as a favourable example of cryptocurrency.


Bill Ackman Bullish on Crypto

The [Metaverse buzz](/news/article/web3-games-raised-millions) has reached the Royals too. The latest Harry and Meghan news suggests that the royal couple is looking to jump on the [virtual land](/news/article/how-to-buy-metaverse-land) bandwagon. They are planning to invest in a new virtual world project. The idea is to connect with their millions of fans through this platform. 

In recent times, the former Duke and Duchess of Sussex have been quite active in the entertainment industry. Their appearances in podcasts and multi-million dollar deals with the firms like [Spotify](https://open.spotify.com/) and [Netflix ](https://www.netflix.com/)have made headlines. 

They will now be entering the Metaverse space as many other celebrities have. [Snoop Dogg](/news/article/snoop-dogg-nft-song), Justin Bieber, Paris Hilton, and numerous other big names have acquired land in the 3D immersive worlds.

## Harry and Meghan: Partnering up with Pax

[The Mirror](https://www.mirror.co.uk/news/royals/harry-meghan-plan-build-world-28499173) reported that the Royal couple is looking to work with the [Pax World](https://pax.world/). It is an award-winning firm that creates virtual experiences for its audience. Talks with the Pax World are in the advanced stages. Potentially, there can be a deal with the Royal partners' charity organisation, [Archewell](https://archewell.com/). 

The collaboration between these two organisations could result in 'Meg-averse'. Meghan Markle will be the leading force behind this project. The platform will allow her to hold business meetings and events and interact with her fans directly. This will also help build the global popularity of this power couple.

## Remarks from the founder of Pax

The founder of the Metaverse platform, Frank Fitzgerald, has shared his views on this partnership. He said his firm would offer the Duke and Duchess a plot at a prime location in their 3D universe.

He also mentioned that this land would allow them to work with top-rated architects to create innovative infrastructures. Through this platform, they can reach a wider global audience.


Harry and Meghan news: Couple entering Metaverse?

Olajide Olayinka Williams "JJ Olatunji", better known as KSI, is a British rapper and YouTuber. He began gaining followers in 2009 when he launched his youtube channel and began posting video commentary on the FIFA video game series. 

After 12 years, the 28-year-old artist now has over 37 million subscribers. He's been named to the Sunday Times' Top 100 UK Influencers' and Tubular Labs' 'UK's Most Influential YouTube Creators' lists, and his channels have received over 8.5 billion views.

## KSI NFT investments

KSI has joined the Bored Ape Yacht Club after purchasing a [Bored Ape](/news/article/bored-ape-nft) and kennel club dog.

In his [Twitter post](https://twitter.com/ksi/status/1429770910794403840?lang=en), he tweeted: " I've given in and bought an NFT. A Bored Ape Yacht Club"

![ksi 1.png](https://s3.eu-west-2.amazonaws.com/prod-monitalks-media/ksi_1_c44c15d60e.png)

KSI holds the Bored Ape #2105. The NFT is a five-trait, bored-looking, unshaven mouth, golden brown fur ape dressed in a prison jumpsuit. KSI purchased the NFT for 25.4169 ETH, or about USD 83,875.

The following day, he tweeted: "I've paid over $23000 for a glowing dog."

He also bought glowing dog #2144 from the Bored Ape Kennel Club. BAKC golden dog is a radioactive fur puppy wearing a purple headband and a BAYC life preserver.

![ksi 2.png](https://s3.eu-west-2.amazonaws.com/prod-monitalks-media/ksi_2_c16f5a1460.png)

## KSI crypto investments

The British rapper had a hard time with crypto. He lost around $2.8 million in the [Terra Luna crash](/news/article/terra-usd). The rapper claimed he purchased 100,000 Terra coins when the price dropped and had decided to hold them for a long time. But, with the [Luna crash](/news/article/terra-luna-collapse), he lost almost his entire value of his Luna investment. 

Before this, the rapper also claimed that he lost around 2 million pounds in crypto investments around Nov-Dec 2020, hoping to get good returns.

Crypto is a volatile space. It's always advised to conduct in-depth research before investing in the cryptocurrency market. 




KSI NFT and crypto investments

Shawn Corey Carter, better known as Jay Z, is a multi-platinum selling hip hop artist widely regarded as the most influential rapper. He is also considered an extremely successful businessman, having founded several multimillion-dollar corporations, including Rocawear, a clothing firm with more than $700 million in annual sales. He is known for collecting fine art and mentioned artists like Picasso in his songs.

## Jay Z's Cryptopunk Twitter profile picture

[Jay Z's Twitter profile picture](https://twitter.com/sc) has been changed to a CryptoPunk NFT that he bought from OpenSea for $126,000; the punk replicates his iconographic hair. 

![jay z 1.png](https://s3.eu-west-2.amazonaws.com/prod-monitalks-media/jay_z_1_b82cdaa19e.png)

Jay Z paid 55 ETH for one of the 10,000 CryptoPunks on April 25. This punk has an African American male wearing a gold chain, a feature that few punks have. His Twitter accounts profile picture changed on June 25.

## Jay Z drops his Reasonable Doubt as NFT.

Jay Z collaborated on creating an NFT with Derrick Adams, a multidisciplinary artist and professor at Brooklyn College. Adams' work takes many forms, including painting, collage, sculpture, performance, video, and sound installations. 

Derrick Adams designed an NFT celebrating Jay Z's debut album 'Reasonable Doubt' on its 25th anniversary. The NFT featured captivating imagery and animated elements and was sold at Sotheby's for $139,000. The physical artwork is also owned by Jay Z. A portion of the profit was donated to The Shawn Carter Foundation.

![jay z 2.png](https://s3.eu-west-2.amazonaws.com/prod-monitalks-media/jay_z_2_311b18b9ca.png)

Derrick Adams created the work in his fragmented style. He was able to animate certain aspects of the piece in the NFT version, such as creating a red glow for the cigar Jay Z is holding, making signature diamond jewellery sparkle, and manipulating the smoke from the cigar to transform into the number 25. The piece incorporates many elements from the original 'Reasonable Doubt' album cover. It also adds a unique twist with advanced animations.

Sotheby auctioned off the piece- one of the leading fine art auction houses, from June 29, 2021, to July 3, 2021, bidding starting at $1,000. The auction took place concurrently in the popular blockchain game-Decentraland's Voltaire Art District.

## Jay Z sued Damon Dash

Jay Z co-founded the record label Roc-A-Fella Records (RAF) with Damon Dash, an entrepreneur who has appeared in films and is a successful record executive.

Jay Z sued Damon Dash for attempting to sell the 'Reasonable Doubt' NFT. Damon Dash holds a small portion of the record label, and his lawyers have stated that he lacks the authority to sell a company asset unilaterally.

Damon Dash attempted to sell the NFT by partnering with the NFT marketplace platform SuperFarm. As a result, RAF lawyers advised SuperFarm to cancel the auction. According to the record label, Dash was still looking for alternative marketplaces to sell the NFT.

As of 2022, Damon Dash and Jay Z have decided to settle their legal cases. Dash is not allowed to "in any way dispose of any property interest in 'Reasonable Doubt,'" even though he is still allowed to sell his one-third ownership in Roc-A-Fella in the future.

## Influence of Jay Z in the NFT space

Jay Z is a well-known musician who has founded numerous profitable businesses. He is also regarded as a wise investor. He is one of the few pop culture figures indulging in the crypto industry. As time passes, more influencers, athletes, and musicians are entering the blockchain world.

Jay Z CryptoPunks Twitter profile photo's continued use is probably making many musicians wonder how NFTs can be applied to the music industry.

As an investor, he has made several significant pre-IPO investments, including Uber. More recently, he invested $19 million into Bitski, a platform for buying and selling NFTs through a secure wallet.

Bitski has the potential to be a powerful [NFT marketplace](/news/article/gamestop-nft-marketplace) for musicians and record labels looking to sell albums as NFTs. Bitski is also compatible with blockchain-based games. Other artists and musicians may get influenced by Jay Z NFT investments as he has proved himself to be a successful investor.




Jay Z invests in cryptopunk NFT and Bitski

[Kim Kardashian has been fined $1.26 million](https://www.forbes.com/sites/qai/2022/10/03/kim-kardashian-fined-for-cryptocurrency-promotion-heres-what-it-means-for-crypto/?sh=d7cef2e39356) by the US Securities and Exchange Commission (SEC) for not disclosing that she received payment for an ad about crypto token EthereumMax on her social media accounts.

This might indicate that the SEC plans to impose more restrictions on the cryptocurrency industry.
Unexpectedly, Kim Kardashian was penalised by the SEC for allegedly participating in this cryptocurrency "pump and dump" scheme. 

## Kim Kardashian barred from endorsing cryptocurrencies for three years

This became a legal issue because the Kim Kardashian crypto ad was a planned marketing strategy. One more surprising factor is that the lengthy list of influencers endorsing cryptocurrencies has been condensed.

Since it may cause additional problems for other celebrities who have supported cryptocurrency or wish to do so in the future, this story has attracted much media attention.

The $1.26 million amount accounts for the $250,000 she received for the marketing and interest and a $1 million penalty. She also consented to refrain from promoting cryptocurrency assets for three years while helping with the current inquiry. 

The crypto industry is facing a strong bear market. There is a fear that we could see more legal disputes and litigation in the future, ultimately leading to more blood baths in the crypto space.

## A long list of celebrities has faced similar controversies

[Elon Musk has been sued for $258 billion](/news/article/elon-musk-dogecoin) over allegations that he created a pyramid scheme to market Dogecoin. Also, Floyd Mayweather Jr. and DJ Khaled have been charged with promoting initial coin offerings (ICOs) without letting their followers know they had been paid to do so.

## What does this controversy mean for the Bitcoin and crypto industry?

The SEC released a video advising the public to exercise caution when following investment advice from well-known people and social media influencers.

Other celebrities and influencers could also avoid advertising ICOs due to the Kim Kardashian crypto ad controversy, which could somewhat mean lower exposure to new coins.

However, this news doesn't mean anything to Bitcoin prices and other crypto coins. But we could soon see more [regulations from the SEC](/news/article/us-sec-regulation).


Kim Kardashian Crypto Ad Controversy

With the upcoming [Web3](https://web3.foundation/) in development, the music industry has seen numerous technological advancements that have facilitated the widespread adoption of blockchain and NFTs. Over the past two years, many famous [musicians and artists](/news/article/snoop-dogg-nft-song) have supported and invested in NFTs. 

Web3 tools allow creators to grow an existing audience and turn it into a community. The ability to create communities around token holders has been the most common among the many use cases for nonfungible tokens (NFTs). 

Web3 platforms are still in their infancy. Most users are familiar with cryptocurrency and fundamentally understand how to communicate on-chain. Web3 music platforms have the potential to play a significant role in how labels, artists, and musicians conduct business and promote themselves as the industry matures.
The possibilities offered by this technology enable digital connections between people who share similar interests, eliminating any prior barriers to forming a community.

Music innovation gives up-and-coming musicians the chance to establish themselves and build community in the hyper-competitive niche of the music industry. This might lessen record labels' contribution to an artist's success. Many record labels are participating by shifting some operations onto the blockchain and releasing music NFT collections.

Successful Music NFT drops demonstrate how Web3 can upend the fundraising model by enabling artists to solicit funding directly from fans. The artists who put forth the most effort to interact with their fans and forge close bonds with them will gain the most from Web3.

## Music NFTs plays a critical role in transforming an audience into a community

An audience is someone who follows and supports their favoured musicians and artists, whereas a community is a group that promotes two-way communication between the artist and its fans. 

With digital advancements, artists are now focusing more on a community-driven approach. Blockchain and NFTs allow them to engage directly with their community.

Community activities have a more significant and immediate impact on an artist's growth. Artists have a solid foundation to build a career with the support of a strong community.

Clear communication and increased accessibility of [NFTs](/news/article/compass-nft) are the first steps in achieving this. Artist communities will ultimately be driven by NFTs and the model of content ownership because it forges a much deeper and more exclusive bond between fans and creators.

The artists willing to use every tool to create an active and interactive community around their work will be the most successful in today's market.


Music NFTs vital role in building a fans community

Wardell Stephen Curry II, born March 14, 1988, is an American professional basketball player for the Golden State Warriors in the National Basketball Association (NBA). He is widely regarded as one of the greatest basketball players of all time and the most excellent shooter in NBA history. He is credited with revolutionizing the sport by inspiring teams and players to shoot more three-pointers.

## Stephen Curry bought Bored Ape Yacht Club NFT

Stephen Curry recently paid 55 ETH ($180,000) for a [Bored Ape](/news/article/how-to-buy-monkey-nft) Yacht Club NFT.

His Bored Ape #7990 NFT depicts a blue-fur ape dressed in a brown tweed suit and sporting green zombie eyes. Currently, his (username SC30) Bored Ape is being bid on for 39.61 ETH ($125,700), significantly less than he paid.
 
## Stephen Curry's Partnership with Under Armour

Under Armour, a sportswear company based in the United States, has [announced](https://lab.currybrand.com/currycounter) that they will release NFTs to commemorate every three-point shot made by NBA star Stephen Curry during the current playoffs.

The Stephen Curry NFTs will be given out to fans on a first-come, first-served basis. It will include 'serums,’ kept in digital wallets that allow owners to customize their avatars' appearance.

For every three-pointer Curry makes in a playoff game, the most active Golden State Warriors fans can collect three free digital Basketballs. It will be released under the Curry Brand.

## How can a user get NFTs released by Under Armour?

Before proceeding to the 'Reserve an NF3 Basketball' option, fans must first link their MetaMask wallet to the website. When a Basketball is available for reservation, Steph's fans can click 'Agree to Terms & Conditions and then 'Reserve.'

Users must then scroll down to the 'NF3 Basketball Winners' section to determine whether or not they have successfully reserved a Basketball. After verification, they should scroll down to 'NF3 Counter' and select 'Claim' one hour after the game.

The reserve button will be activated when Curry makes a three-pointer in the Playoffs. Pressing Reserve does not guarantee NF3 Basketball. The first person to click 'Reserve' will secure an [NFT](/news/article/free-nfts), but they must pay the gas fee.
If a user has successfully reserved a Basketball NFT, they cannot book another one until the next game. 

## Stephen Curry 2974 NFT collection

Offered in collaboration with the 2974 Collection, this is a special "Birthday Game" 2974 Collection NFT commemorating Stephen Curry's impressive performance against the New York Knicks on March 14, 2015. Steph's 27th birthday also doubles as an invitation to his exclusive, upcoming birthday celebration, where, among other things, the winner will receive an opportunity to play basketball with the two-time NBA Most Valuable Player.

Curry's historic three-pointer inspired the development of his famous 2974 Collection, which was named one of five finalists in the NFT NYC Awards' Most Impactful for Charity category. It's worth noting that Curry donates 100% of the 2974 Collection NFT profits to charity, specifically his Foundation [eatlearnplay.org](https://www.eatlearnplay.org/).

This historic NFT is a thrilling remembrance of the future Hall of Famer and Golden State Warriors icon, appearing in his sixth NBA Finals since 2014-15.

Exclusive merchandise, game trivia giveaways, autographs, memorabilia, and more are available to all 2974 Collection NFT holders. Curry has also participated in video sessions on the Discord channel for the 2974 Collection.

Stephen Curry's involvement in the [NFT](/news/article/nft-land) market will make other sports professionals dive into this space. This would also encourage many different companies to embrace blockchain technology and launch new NFTs in partnership with other celebrities. 



Stephen Curry NFT involvements

The tech billionaire and the Bitcoin maximalist, Michael J. Saylor, have been charged for tax evasion. Karl Racine, District of Columbia Attorney General, has accused him of evading $25m in taxes. DC AG filed the charges on Wednesday, including the allegations against his company MicroStrategy.

Michael Saylor is an American entrepreneur who co-founded MicroStrategy and serves as its Executive Chairman. Moreover, he also has been a staunch advocate of Bitcoin, even during the [market downturn](/news/article/btc-markets-struggles).

## Allegations against Michael Saylor 

Racine filed the lawsuit in DC's Superior Court. According to the DC AG, the billionaire's company assisted him in evading taxes. That's why both Saylor and his firm are the defendants in the case. He further claimed that he has lived in the district for over a decade and has never fulfilled his tax obligations. 

![michael saylor.png](https://s3.eu-west-2.amazonaws.com/prod-monitalks-media/michael_saylor_67961312b7.png)
 
The charges also alleged that the person falsely claimed to reside in Florida, where income taxes are not applied. However, the tech entrepreneur has been in DC for more than ten years without paying dues. He has several properties in DC, including a Georgetown penthouse apartment and a yacht on the Georgetown waterfront. 

Besides, the AG is looking to recover over $100 million worth of taxes from the lawsuit. Moreover, the case used the accused billionaire's Facebook post as evidence that he has been residing in the district for years and was calling it 'home'.

## Michael Saylor resigned as CEO of MicroStrategy

Earlier, the tech entrepreneur resigned from his firm's CEO position. Now, he only serves as the Executive Chairman. As the CEO of the firm, he constantly pushed for Bitcoin. He also used more than $4 billion to strengthen the company's Bitcoin treasury. However, after the lawsuit, MicroStrategy saw a 10% downward trend in its shares. 



Michael Saylor indicted for $25m tax evasion

Truth in Advertising (TINA.org), a watchdog organisation for consumers, has accused 19 celebrities, including Justin Bieber, of [NFTs promotions without declaring their affiliation](https://cointelegraph.com/news/19-celebrities-called-out-by-consumer-watchdog-group-for-shilling-nfts) with the projects.

On its website, the non-profit group has claimed to have looked into "celebrities that advocate non-fungible tokens (NFTs) on their social media platforms" and discovered that "it is a sector replete with fraud."

The celebrities include Justin Bieber, Floyd Mayweather, Tom Brady, Eminem, Snoop Dog, and Gwyneth Paltrow. All of the celebrities have received letters requesting that they immediately disclose any material connections they may have with NFT companies or brands they have promoted.

While no legal penalties have been imposed, the non-profit organisation stated that it sent letters to the celebrities involved, detailing their objections and informing them of the harmful effect shilling NFTs may have on the public.

One of the key concerns expressed by the group in the letters is that the potential financial risks connected with investing in such speculative digital assets are not acknowledged.

TINA.org addressed letters to the legal teams of Reese Witherspoon and Justin Bieber for NFT promotion on their social media profiles without revealing their affiliation to the initiatives.

Bieber's legal team responded, denying any wrongdoing but indicating that the posts would be corrected.

Witherspoon's legal team approached TINA.org, stating that the actress is not materially benefitting in any way from promoting the NFTs in question.

## TINA.org highlights FTC guidelines

According to TINA.org, the above-stated celebrities could violate the Federal Trade Commission's (FTC) guidelines on using endorsements and testimonials in Advertising.

The advocacy organisation refers to the FTC website, which states that influencers must disclose any substantial ties to the products they promote. The disclosures must be clear, straightforward, noticeable, and contained within the endorsement.

So far, there hasn't been a publicised example of a celebrity incurring legal consequences for promoting NFTs or cryptocurrency.

Several class action lawsuits are pending, most notably against [Elon Musk for supporting Dogecoin](/news/article/elon-musk-dogecoin) and Mark Cuban for promoting crypto offerings and services by Voyager.



Criticism of Justin Bieber NFT promotions

Scammers are at it again with Bitcoin. This time, another bogus celebrity endorsement is being used to trick unsuspecting members of the public into joining up for various Bitcoin trading sites. This time it is the [Ant McPartlin Bitcoin scam](https://www.economywatch.com/bitcoin-robot/ant-mcpartlin-bitcoin).

In this article, we look at a con involving Ant McPartlin's name and analyse whether the TV star ever actually got involved in Bitcoin Revolution, a BTC auto-trading business.

## Who is Ant McPartlin?

Anthony David "Ant" McPartlin is a British television producer, rapper, singer, comedian, actor, and TV presenter born in Newcastle upon Tyne in 1975. Because of his talent, he has a large following that extends beyond the United Kingdom.
McPartlin is well-known for his work as a co-presenter with Declan Donnelly, known colloquially as Ant and Dec.

McPartlin has garnered honours for his outstanding contribution to the media business, including the British Academy Television Awards: Entertainment Programme (Ant & Dec's Saturday Night Takeaway) and the British Academy Television Awards: Live Event (The Queen's 90th Birthday Celebration).

## What is Bitcoin Revolution?

[Bitcoin Revolution](/news/article/bitcoin-revolution) is an automated Bitcoin trading system designed to improve the trading experience of investors with limited capital, time, and trading skills. The platform includes a robot that manages the whole trading process on behalf of the account user, automatically executing buys, holds, and sells with minimum input from the investor.

After registering on the platform, users must make an initial payment of at least £200.

Bitcoin Revolution is a built-in algorithm that claims to deliver more than 99% accuracy on all trades, allowing investors to earn up to 20% daily returns on their money.

## Ant McPartlin Bitcoin Scam?

The question is, did McPartlin endorse Bitcoin Revolution?

McPartlin has denied any support for a Bitcoin trading platform. He has claimed that he has no intention of investing in Bitcoin or its trading bots.

As we investigated, we found no direct or indirect postings on Ant's social media to indicate that he had adopted the trading platform.

McPartlin is one of many celebrities whose accounts have been phished by Bitcoin fraudsters.

An “audience seeker” storyline is always popular, especially when it involves renowned people. In this example, bogus news sites and gossip blogs have fueled media coverage of the entire event, primarily to gain click-through and registration commissions from the traders involved.

Fake trading sites were involved in advertisements and other media promotion of the supposed endorsement, causing naive investors to lose money.

Because neither McPartlin nor Bitcoin Revolution confirmed the endorsement story, it was assumed that a bunch of avaricious internet marketers staged the entire affair.

## Is Bitcoin Revolution a Ponzi Scheme?

This is a common question among cryptocurrency aficionados right now. Should I put my funds on the platform?
I say not. Unless you can verify the legitimacy of any trading platform for yourself, you should retain your money in your bank account.
 



Ant McPartlin Bitcoin Scam Explained

Have you heard about the [BTC Profit](https://btcprofit.com/) trading bot and wondered if you could make huge returns?
The idea that anyone can easily make money in the crypto space has led to the rise of crypto trading bots. 

With a crypto trading bot, crypto traders can begin earning from their crypto holdings easily, regardless of their expertise level.

Or so it is claimed. But are the bots legit?

This article reviews one popular crypto trading bot, BTC Profit, also referred to as Bitcoin Profit.

## What is BTC Profit?

This is an automated crypto trading bot built and designed to ease the struggle of crypto trading. The Bitcoin Profit bot uses an AI algorithm to identify trading opportunities in the crypto market and act on them on users’ behalf. It can automatically open and close trades on users’ trading accounts, eliminating the need for constant manual intervention from traders.

Due to automation, BTC Profit can trade 24/7 across more than a dozen cryptocurrencies. According to the crypto trading platform, around 85% of its trades close for a profit under normal market conditions. Users don't have to worry about service fees as the platform does not charge any.

Bitcoin Profit only requires users to deposit a minimum of $250 to start using it. It even eases the worry of people with a demo account. The demo account enables users to test the bot's capabilities before beginning to use deposited funds to trade.

## How does BTC Profit work?

Bitcoin Profit uses a sophisticated AI algorithm that has been trained on years’ worth of cryptocurrency market data to identify and execute crypto trades. The bot can easily monitor price changes and spot price patterns that are likely to precede a directional movement.

Once BTC Profit spots a pattern, it opens a trade on a user's behalf. It will then continue to monitor the development of the trade and exit when the signal fades or a profit target is reached. Funds and profits will then be returned to a user's account.

## Pros and cons of BTC Profit

Pros
•	24/7 automated crypto trading
•	No service fees
•	85% success rate, according to Bitcoin Profit

Cons
•	Requires a minimum deposit of $250

## Is Bitcoin Profit Legit or a Scam?

Over the years, many crypto trading bots and platforms have been revealed to be scams, which is why vigilance is necessary when looking to use a trading bot for crypto trading.

## Signs Bitcoin Profit might be a scam

•	85% success rate claim
Bitcoin Profit's 85% success rate claim is one clear red flag. The crypto market is one of the most volatile markets in existence. The market does not guarantee profits. Anyone, whatever technology they are using, can easily lose or earn money from the crypto market.

•	Negative reviews
Bitcoin Profit continues to get many negative reviews from reputable reviewers and users worldwide. The platform markets itself as a reputable crypto trading platform with plenty of positive reviews and testimonials to support its claims. However, many of the positive reviews have been exposed to be fake. Using fake testimonials and reviews is another reason to think twice about using the platform.

•	Fake endorsements
Bitcoin Profit has been accused of and exposed for using images and names of influential individuals for marketing purposes. Some big names that have been used to entice unknowing individuals into using the BTC Profit platform include Jim Davidson, Conor McGregor, Elon Musk, Gordon Ramsey, and Piers Morgan, among others.

## Final Thoughts

Bitcoin Profit easily appears as a legit crypto trading platform. The benefits that come with using the trading bot can easily entice anyone looking to venture into crypto trading with zero trading skills.

The platform promises to generate big rewards using small amounts of money. You only need a minimum of $250 to start using the platform and enjoy great rewards. It is also absolutely free to use as there are no service fees. The best part is that it enables anyone, regardless of their crypto trading expertise, to start earning from crypto trading.

The advantages are great.

However, the signs are there that the BTC Profit platform might equally be a raw deal. The 85% success rate claim, negative reviews, and use of fake endorsements all indicate the platform could be a scam.

Before you consider using this trading bot, do your research.


BTC Profit: Everything You Should Know

So, it's been a year in the life of [Bored Ape NFT](https://boredapeyachtclub.com/#/).

Bored Ape Yacht Club celebrated its first anniversary with close to $2 billion in sales volume as of the end of April 2022.
This places Bored Ape NFT in third place behind CryptoPunks and Axie Infinity in the all-time rankings in terms of volume.  

Bored Apes became a mainstay in the non-fungible token (NFT) space in 2021 after its launch in April of that year. The Bored Ape Yacht Club contributed substantially to the more than $25 billion spent on NFTs in 2021.

Although millions of people have heard about a digital collectible called BAYC NFT, only a fraction could describe what non-fungible tokens entail.

Yet, if there is a single brand that exposed NFTs to millions of decentralized finance fans and blockchain enthusiasts, it was the Bored Ape Yacht Club. The impact of Ape NFTs on the market has seen numerous celebrities use some of the unique collectibles as their profile picture.

Among them are footballer Neymar JR., comedian Jimmy Fallon, rappers Eminem and Timbaland, and socialite Paris Hilton.

## Why Are There 10,000 Bored Apes?

The Bored Ape Yacht Club was created by Yuga Labs and comprises 10,000 unique collectibles. In the non-fungible token world, like the real world, there are several art forms. Among others, there are one-off visuals and NFT collections that come in limited numbers.

A great example of a one-off visual can be attributed to Beeple’s NFT called The First 5000 Days, which sold for $69.3 million at Christie’s auction house in New York.

On the other hand, digital collection is what you are experiencing with BAYC, CryptoPunks, and NBA Top Shots, among others.
Instead of making a generic image of a bored ape that could be sold at the same price to millions of people, Yuga Labs decided to take a different approach.

Their strategy was to make 10,000 apes with the same template, but each Ape NFT comes with different attributes that confer uniqueness.
In the Bored Ape Yacht Club, each Bored Ape has unique clothes, fur, facial expression, and accessories.

This fell in line with one of the four attributes of NFTs, which is indestructibility. The data of all 10,000 NFT bored apes are stored on the [Ethereum](/coins/eth) blockchain. Each token cannot be removed, destroyed, and, more importantly, replicated.

Out of the 10,000, 46 bored apes came with solid gold fur. Since they remain virtual assets, Bored Apes with solid gold furs are more expensive than Ape NFTs with little to no accessories.

Aside from Axie Infinity, BAYC NFTs has given competition to the World of Women, Art Blocks, Azuki, CloneX, Moonbirds, the Sandbox, Cool Cats, Meebits, Farmers World, and Adidas Originals.

## What Makes Bored Ape Yacht Club Valuable? 

Six attributes confer value on a crypto token in the crypto finance space. They are scarcity, utility, transferability, non-counterfeitability, divisibility, and durability.

Aside from the indestructible attribute earlier pointed out, non-fungibles are indivisible, verifiable, and non-interoperable.

This takes divisibility out of the attributes that confer value to the Bored Ape NFTs, since one Bored Ape is a whole item that cannot be interchanged or divided. Analyst Ollie Leech of Yahoo Finance believes NFTs exist exclusively as whole items.

After being launched in April 2021, all 10,000 bored apes sold out at a price per ape of $190, which was around 0.08 ETH within 12 hours. By the close of July 2021, a single Bored Ape was exchanging hands at $17,334.

Bored Apes ended the third quarter of 2021 with a price of $107,726. In five months, Bored Ape NFT price increased by 56,597.9%.

Bored Ape NFTs' price in the opening days of October 2021 was $122,113, reaching a quarterly high of $306,219 on December 30, and closing the last quarter of the year at $178,660.

There was a 46% increase between BAYC’s opening and closing price in the fourth quarter of 2021.

Overall, there was a 93,931.6% spike in bored ape price from April to December 2021.

With that said, what makes a digital collection successful is subjective. Utility, community appeal, celebrity involvement/influencer, and mainstream potential are factors that have conferred value on Bored Ape NFT.

## Utility

Although several NFT projects claim to offer utility of some sort, most of them do not.

When ApeCoin launched on March 17, 2022, the ApeCoin Foundation linked APE to the Bored Ape Yacht Club and its sister project, the Mutant Ape Yacht Club (MAYC) NFT projects.

Till mid-June 2022, the ApeCoin airdrop remains active.

Holders of the BAYC and MAYC stand a chance of earning free APEs. Bored Ape Yacht Club holders are eligible to claim up to 10,950 APE, while Mutant Ape Yacht Club holders can claim up to 2,042 APE. Overall, 150 million APEs will be airdropped.

This has largely contributed to the soaring Bored Ape Yacht Club NFT price in 2022.

After opening at $183,276 on January 1, a single Bored Ape NFT exchanged hands for $351,561. There was a 91% between ape NFTs' opening and closing price in the first quarter of 2022.

Bored Ape traded for $373,399 in the early days of April and closed the month exchanging hands for $382,423.

Bored Apes reached such valuation due to conferring eligibility on holders to earn free ApeCoins.

Bored Ape Yacht Clubs utility (medium of exchange) or transactional currency comes with APE.

APE can be used as a payment method on the crypto casino BC.GAME. People who enjoy gambling with cryptocurrency can use their APE on their crypto wallets without any extensive verification process from traditional financial institutions. Aside from this, APE can be used to pay for digital subscriptions by TIME magazine.

Moreover, APEs can be earned through the play-to-earn game Benji Bananas.

More importantly, APEs attribute as a utility token will soar as it is the primary currency that will be overseeing all transactions on the metaverse called Otherside.

## Celebrity Involvement/Influencers 

Celebrities have millions of followers across several social media channels. Most of them throw their weight behind projects deemed credible by the major players in the crypto finance space. With Bored Ape Yacht Club, celebrities such as NBA star Stephen Curry, musician Justin Bieber, and other stars have purchased Bored Ape NFT. Some have gone public about it. Once millions of people see the mileage BAYC is garnering in the traditional news media and social media circles online, the resultant effect will be an ascension in the price of the digital collectible.

## Community Involvement 

The ApeCoin Community is one of the most vibrant communities in the space. ApeCoin has channels across Twitter, Facebook, Reddit, Instagram, Telegram, and Discord.

Discord and Telegram are used to promote events such as airdrops, the launch of the metaverse, and news of acquisitions made by Yuga Labs.

Bitcoin would not have survived for 13 years without its community. Dogecoin (DOGE) and Shiba Inu (SHIB) would have become relevant were it not for the impact of Dogecoin and Shiba Inu Army. In the same way, conversations about the Bored Ape Yacht Club project have played a substantial role in each collectible becoming more expensive daily.

## Mainstream Potential 

There are more than 100 NFT projects in the space.

What’s more, as of May 1, 2022, there are more than 19,000 crypto projects in circulation.

If the Bored Ape Yacht Club NFT distribution of 10,000 APEs was not of top-notch quality, the project would have headed into extinction zones, as others have done.

All 10,000 bored apes are unique, poke fun at NFT lovers, and attract buyers.

In April 2021, there were 141 unique buyers, and sales were in the region of $37,556.

When the financial markets reached their peak in May 2021, which saw several coins such as Ether (ETH) and Internet Computer (ICP) reach new all-time highs, the number of unique buyers increased. In May 2021, there were 3,548 unique buyers, and sales were around $17 million. In 2021, Bored Ape Yacht Club's sales volume peaked at $297 million in August, as per data retrieved from CryptoSlam.

As investors rely on past data to make projections about the future sales patterns of digital assets and collectibles, the potency of the project has seen soaring volumes in 2022.

In January 2022, Bored Ape Yacht Club's sales volume was approximately $339 million.

Overall, BAYC's sales volume in the first fourth months of 2022 was $957 million.

With these statistics in mind, it would be extremely easy for a holder to sell a bored ape NFT for more than $400,000.

It would also be easy for a prospective buyer to purchase one NFT bored ape for more than $400,000 since it could be resold for twice that amount within a short period.

## Who are the major players behind the Bored Ape Yacht Club? 

Yuga Labs is the team behind bored ape NFTs. Copying the pseudonymous nature of the crypto stratosphere, the four players behind the project go by unidentifiable names.

They are Gargamel, Gordon Goner, Emperor Tomato Ketchup, and No Sass.

Yuga Labs is also the company behind the Mutant Ape Yacht Club and acquired CryptoPunks in March 2022.

In addition to this, Yuga Labs created the ApeCoin ecosystem.

The ApeCoin Foundation has representatives from cryptocurrency exchange FTX, blockchain-based technology company Horizen Labs, and social media platform Reddit.

They will contribute to the sustainability of the ApeCoin project.
 
## What’s next for the Bored Ape Yacht Club? 

On Saturday, April 30, 2022, the Bored Ape Yacht Club team launched a new NFT collection which crushed the blockchain technology of Ethereum.

This collection was part of Bored Ape’s metaverse launch called Otherside.

The NFT collection comprised 100,000 land deeds specifically designed for the virtual world.

With the project's popularity, demand for a share of these land deeds exceeded supply.

With Ethereum still in the process of making a successful transition from proof-of-work (POW) to proof-of-stake (POS), the network could not handle the load.

As a result, the gas fees, which reached new high lows in 2022 thanks to the EIP-1559 upgrade (London Hard Fork), skyrocketed to record highs. Many users paid thousands of dollars in fees, but their transactions could not go through.

The NFT distribution came in two waves. The first 100,000 lands were sold to new users and some of them were airdropped to holders of BAYC and MAYC.

The other 100,000 lands would be given to users who would make effective contributions to the development of the Otherside.

Concerning the first 100,000 lands, 30,000 were airdropped, and 70,000 plots were sold to new and existing holders of BAYC and MAYC.

For starters, each plot of land cost $5,846, which was the equivalent of 305 APE at the time of sale. The 70,000 lands sold within a few hours and netted Yuga Labs about $420 million, which will be reinvested into expanding the ApeCoin ecosystem.

Like BAYC, Otherside land price has skyrocketed from more than $5,000 to over $20,000 in May 2022.

## Conclusion 

Is now the time to consider becoming a Bored Ape NFT holder? Although the BAYC digital collectibles started small, it has brought in more than $1.9 billion in sales.

There are more than 300 unique buyers monthly, and the average sale value has soared from $213.39 in April 2021 to $308,497 in the same period in 2022.

Being a BAYC holder makes you eligible for ApeCoins and plots of land that could sell for thousands of dollars.
There are many ways of taking a stake in the bored Apes project.

If you cannot afford one BAYC or a plot of land on the metaverse, perhaps you could consider investing in ApeCoin.

The token trades below $50 and with the expansion of the ApeCoin ecosystem, the token could reach new milestones and bring you enormous returns in the short, medium, or long term.
 
 
 
 
 
 
 
 
 
 
 



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