You are telling me that there are 10,000 Bored Ape Yacht members and the floor price is still $106,000??? What a joke....
The Apecoin is also a joke. Literally. Etoro is advertising it on Facebook, writing things like "own an Apecoin before anyone else", "own your $APE". There were funny comments all over the post for weeks, but they got deleted over time. People wrote things like "I will go apeshit if I see anymore of this", and "as a non-English speaker, I looked for the meaning of sape". Maybe these quotes are not exact (I am writing them from memory), but these were their main points. Most people do not take this Ape thing seriously, and they are right.
Well when I look at the whole thing on a high level it is pretty crazy because the guys who created those collections were sort of semi new to crypto and they just do this BAYC thing and then rolled out the Mutant Apes, and then rolled out $APE and you are scratching your head and thinking really how much value is derived from this. It is so much pie in the sky thinking with the whole thing. Do I think eventually some well funded company will build some metaverse with in game items? Yeah but I think they always look at it and realize most of the offerings especially Ethereum aren't capable of what they would be trying to do. Then they explore running Ethereum or some EVM compatible chain in house so they don't have to pay the gas fees and then suddenly they realize this is all inefficient and it just makes more sense to utilize centralize databases like they have always used.