Next up is the project I have had the most success with (as in it has actually increased in value since purchase). Also kind of a controversial project, and that is Bored Ape Solana Club. It is a derivative of the famed Bored Ape Yacht Club that is on the Ethereum network.
The art is very very similar, which is intentional as it pretty much aimed to be the SOL equivalent. The big highlight of the project is that it provides royalties from transaction fees back to the holders.
There are two royalty tiers, the first being if you own #1-3000 and the second if you own 3001-6000. The first tier receives 50% of royalties distributed amongst the tier, and the second tier receives 20%. All in all, pretty solid rewards for simply holding the NFT.
Some of the controversy with this has popped up over the last couple days. Magic Eden, which is probably the most prominent NFT marketplace on the Solana network, removed BASC and all other “derivative” projects from their home page and trending pages. You can still search for them, but they decided (in a very centralized action) to basically shadow ban all projects like this.
Some in the community think this is good as it discourages rip off projects and clone rug pulls. I definitely agree with that sentiment. However, there are still good projects that can be derivatives of others. At the sake of sounding like Captain Shill, I think this is one of those.
One look at their Discord (Bored Ape Solana Club) will show you how big and dedicated the base is. Are they a tad toxic at times? Absolutely. But this is crypto and NFTs we are talking about, so a bit of give and take there.
I currently own two of these apes, the cowboy hat one purchased (not mint) for 1.61 SOL and the pink ape purchased for 1.9. The cowboy hat is a common and the pink is an epic (per SOLRarity).
The floor price for these since I have been involved got all the way up to 19.85 SOL (didn’t sell) and currently sits at 6.5 SOL. So still a very good return on my initial investment, but my bullish hope is the situation with Magic Eden gets resolved and they can be promoted once again to get over the 20 SOL threshold.
Art work below, very run of the mill Ape art.