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For the crypto-uninitiated, a “degen” is as phrase adopted by the community for those who invest in coins and NFTs without doing their due diligence in terms of research.
Whilst the trilogy’s name references the phrase, it seems Coinbase’s decision to produce the film is anything but a “degen” move.
“We have an incredible group of directors, writers, and animators behind this film,” Coinbase says on the film’s website. “We can’t tell you who they are just yet, but you’ve seen what they’ve done before”.
The first part of the film series will debut at NFT NYC between 20 June and 23 June. Its timing marks around one year since BAYC launched their 10,000 NFTs for just US$250 each. BAYC NFTs are now worth around US$300,000 each.
BAYC NFT owners are being asked to audition their apes to be featured in the series. Coinbase is also asking them to create a backstory for their characters for the films. If selected, the NFT owner will earn a US$10,000 licensing fee worth of bitcoin or Ape Coin.
What was once a “degen” punt, the BAYC brand is becoming a lucrative investment. Backed by celebrities including Eminem, Snoop Dogg and Steph Curry, as well as being featured by brands such as Adidas, Prada and Rolling Stone, the BAYC story could be one of the most fascinating rags to riches tale to grace the big screen.