March 27, 2024

MR PRO | BAYC: How a Monkey JPEG Made 308 Millionaires

Gm DOers! 😎

Imagine you can time travel… 

You go back to April 22, 2021, and mint a Bored Ape Yacht Club (BAYC) for $192 (0.08 ETH).

In just over a year, you’re a millionaire! 🤯

You’ve turned $192 into $1,144,644.

Your one BAYC has led you to receive 5 airdrops, which you skillfully sold at near-top prices along the way. 📈

Unfortunately, you can’t time travel. 😢

But if you could, here's how you could have become a millionaire from minting one BAYC.

Now this scenario is just hypothetical. In order to achieve this you are required to time the top, which is near impossible. 

You also must predict the airdrop date of each collection in order to ensure you don’t sell your BAYC before collecting future airdrops. And you would have to resist the temptation to turn your BACC (Bored Ape Chemistry Club) into a MAYC (Mutant Ape Yacht Club). 

Sounds like an impossible scenario, right? 🤷

Maybe not.

Would you believe me if I told you that 308 real people (wallets) have become millionaires from trading BAYC? Crazy right?

In today’s PRO report, we’re diving into Bored Ape Yacht Club:

  • How one NFT minted 308 millionaires?

  • Will it ever happen again?

  • And is BAYC a good investment?

If you're anything like me, you probably didn't snag a BAYC. And maybe, just maybe, you aren't lounging in the millionaire club yet…

But if you asked me the best way for you to become a millionaire I’d tell you to invest onchain. 

BAYC Collection 🐵

For the purpose of this report, we will use “BAYC” to refer to all the assets in the Bored Ape Yacht Club ecosystem. For reference, here’s the complete set.

How One NFT Minted 308 Millionaires 💰

Before jumping in, one quick note is that for the purposes of this report, we’ve converted everything from $ETH into USD on the day a trade was made.

The #1 BAYC trader has profited an incredible $293 million. 🤯

Over $221 million came from trading the original BAYC collection, and they even profited $4.3 million from BAKC (Bored Ape Kennel Club). 🐕

Unfortunately, we don’t know who this person is. Onchain they are simply known as 0x29469395eaf6f95920e59f858042f0e28d98a20b. 

But one thing is clear. This person is a prolific trader. 🪄

They have traded 9,740 BAYC assets. This is the most amount of BAYC trades by a single wallet, and Yuga Labs has made over $7.5 million in royalties just from this one trader alone!!

This wallet is truly in a league of its own. When we put them on a chart with the other top 10 traders, it was like comparing Jeff Bezos’ bank account to mine. 😅

So we made a chart of the top 9 traders (without #1). Let's take a look at how they made their millions.

Subscribe to Milk Road PRO to read the rest.

Become a paying subscriber of Milk Road PRO to get access to this post and other subscriber-only content.

A subscription gets you:

  • Weekly reports that help you spot early trends, manage risk and catch sweet cha-ching moments
  • Weekly cycle indicators to pinpoint the bull market's peak
  • Access to the PRO community and the Milk Road PRO crew
  • Early access & discounts to future Milk Road products and industry-wide goodies