My first Crypto Punk and why I aped in

I got 2 Hive punks as everyone started going crazy about them and buying all sorts of numbers, I bought 2 because 2 is more than 1 and I couldn’t justify buying more than that.

I think I’m the least enthusiastic person about these Punks Hive people seem to be so excited about. However, I’ve come to the realization of two things.

I now have a better understanding about the craze on other chains when it comes to these NFT’s and their ridiculous pricing, what constitutes value is basically hype wrapped in community acceptance, what’s value is what the community says is value, it’s that simple.

I got 2 female punks. Looking at them, I’ve realized that rarity is a thing and the rarer the number of your punk, the more value it is perceived to have. So people are incentivized to keep minting punks in other to randomly mint a rare one that could turn out to have a lot of value.

And because there are not enough punks to go around, the limited supply clause kicks in and as demand goes up, price likely follows, so if you’d want a punk for whatever reason, you’d need to buy from the open market.

I think the most interesting part is minting because there are chances that the cost to mint the NFT’s will be a fraction of the price of the ones sold in the open market.
Where the value gets propped up is when we start to see events tied to these NFT collections, for example, a Hive punk holders only event, exclusive airdrops of subsequent projects to Hive punk holders and stuff like that.

I’ve seen some places where this is being done. Plus reading markys post’s, I have a feeling this is going to happen at some point.

Another thing that caught my attention is the fact that almost 200k Hive was captured in total, not exactly sure about that though, I’m also not exactly sure how much Hive is being burnt or is profit to the creator of the project, but I’ll say it’s a nice capital to commit into developing something even more tangible.

And who better be the recipients of the newly funded project other than the financiers of the first one, the ones who took the risks to ape in first. Well, this is what it looks like to me, I could be wrong in many ways.

Back to my punks, one is a Barber and the other is a Banker, I don’t like bankers, so if I’ll ever have to sell, the banker will go first. Lol

What do you Hive punkers think?!

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