With both long-term recognition and utility, CyberKongz has become one of the most recognizable blue-chip collections on the market.
But What Makes These Pixelated Gorillas So Valuable?
As I try to get more analytical in my approach to valuing NFTs, an exciting tweet came across my Timeline from @_MetaViz that brought CyberKongz to my attention:
Inspired by the works of @bobbyquinn_eth, @Zeneca_33 and @NathanCRoth, here is a viz on the Top 20 NFT Avatar Power Rankings based on daily floor prices for this past Oct 2021.
Defo lots of steadiness in the top 5, but heaps of shifting beyond!
Any feedback is appreciated ?? pic.twitter.com/ICNKYyn47V
— MetaViz ???? (@_MetaViz) November 9, 2021
It seems as if CyberKongz has overtaken CryptoPunks as the community’s #1 pfp project this last month.
What Are CyberKongz?
CyberKongz Genesis was one of the first pfp NFT drops to take off. Minting 1000 unique gorilla Avatars for 0.1 ETH each in March of 2021, the project took off. One of the first significant NFT collections aside from Punks perfect for Discord and Twitter avatars, every NFT fanatic at the time needed to get this collection.
This was one of my first @CyberKongz.
Maybe one year ago 300k bid would be life changing but …
JUST being part of my community and supporting one of the best projects in the space is worth more than the money.
Don't make emotional decision.
?? HODL what believe in ?? pic.twitter.com/QogP02kB0I
— EddyisKongz (@eddyiskongz) November 4, 2021
Not only just a pfp collection, CyberKongz shortly introduced utility to the collection that gives holders a reason to value this collection for a decade at least. Each CyberKong holder can collect 10 $BANANA tokens daily for the next ten years. You can burn these tokens to:
- Alter biography
- Rename Kong
- Breed BabyKong and VX Kong
- Unlock exclusive discord channels
Also, “BabyKongz” expands the CyberKongz universe and allows more uses to be a part of the community. It requires 600 $BANANA to breed a “BabyKong.” With the price of 1 $BANANA token sitting at USD 48.15. This is quite the investment if you’re looking for immediate rewards.
Behind the Numbers of CyberKongz
The current floor price for a Genesis Collection CyberKong is 83.559 ETH, or USD 404,558. Priced in the same region as CryptoPunks, CryberKongz is a steep investment for the average user. But, what is a more accessible entry into this collection?
BabyKongz. The current floor price for 1 BabyKong is 5 ETH or USD 24,277. Still a very steep investment, but it still is a fraction of a Genesis collection. You do not gain $BANANA token holding a BabyKong, but you get access to exclusive channels.
What’s the benefit of collecting CyberKongz?
CyberKongz is an exciting pfp collection. Held by some of the most prominent players in the game, as seen by the floor price, the alpha and info you could get from the community could be worth its price on its own. And with the ability to gain passive income with an in-demand token, you may be able to pay for a large chunk of it with $BANANA tokens. Plenty of reasons to consider, on top of this being a collection with long-term name recognition.
Overtaking CryptoPunks in floor price this past October, the community seems to value this collection. Keep in mind that only 10% of the supply of CryptoPunks impacts the floor price of Kongz.
When looking at BabyKongz, something to consider is IRL events. Much like BAYC, CyberKongz had events at NFT.NYC. As IRL events continue to happen for NFT communities, look for buyers to value the cheaper ticket to these parties. Holding a MAYC granted the same IRL access as a BAYC at NFT.NYC, for a fraction of the price. Maybe it doesn’t come with as much social status, clout, importance, whatever you want to call that esteem, we want to give these expensive collections.
But what it does give you is access to the same community, events, and some perks as holding the expensive collection.
Something to consider: Remember always to do your research, make your own decisions and invest in projects that interest you!
Follow our new Altcoin Buzz Public NFT Wallet to keep an eye on collections we’re buying, selling, and holding! Use this as a jumping-off point for your research.
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