Ape – Earlybirds Invest https://earlybirdsinvest.com Latest Crypto News Fri, 04 Apr 2025 15:55:16 +0000 en-US hourly 1 https://wordpress.org/?v=6.9.8 https://i0.wp.com/earlybirdsinvest.com/wp-content/uploads/2024/12/cropped-New-Project-2024-12-17T235703.455.png?fit=32%2C32&ssl=1 Ape – Earlybirds Invest https://earlybirdsinvest.com 32 32 240146708 Off the Grid Adds Bored Ape Yacht Club Avatars https://earlybirdsinvest.com/off-the-grid-adds-bored-ape-yacht-club-avatars/ https://earlybirdsinvest.com/off-the-grid-adds-bored-ape-yacht-club-avatars/#respond Fri, 04 Apr 2025 15:55:16 +0000 https://earlybirdsinvest.com/off-the-grid-adds-bored-ape-yacht-club-avatars/

Off the Grid, blockchain-based battle royale developed by Gunzilla Games, has introduced Bored Ape Yacht Club (BAYC)–themed content as part of a new in-game update.

The content includes character skins, weapons, and emotes styled after the popular Ethereum NFT collection released during a limited-time “Ape-ril” event and is available to players subscribed to the game’s Pro tier.

The release follows the launch of the Gunzilla Games’ $GUN token and the rollout of its GUNZ blockchain network.

Off the Grid Adds Bored Ape Yacht Club Avatars
Source: Off the Grid

What’s in the Bored Ape Content Pack?

The new BAYC-themed update includes two playable avatar skins, two weapons, and two character emotes referencing the Bored Ape aesthetic and tone. The content is part of a premium package for Pro subscribers and became available on Wednesday.

Gunzilla Games released a limited-time cosmetic called the “Ape-fool Mask” on April 1 and players could unlock it by participating in a single match that day.

The item is no longer available, which may make it rare among the game’s cosmetic offerings.

Off the Grid Adds Bored Ape Yacht Club Avatars
Source: CoinGecko

What’s next for Off the Grid?

The BAYC-themed content arrives shortly after the launch of GUNZ, a new Avalanche-based blockchain developed by Gunzilla Games to support Off the Grid and future projects. The network’s native token, $GUN, was also introduced via a token generation event earlier this week.

Since its launch, $GUN has declined more than 50% in value from its initial peak and is currently trading at approximately $0.043. Although its circulating market capitalisation is modest at around $26 million, the token’s fully diluted valuation—based on total supply—places it above other web3 gaming tokens such as ApeCoin and PRIME.

At present, GUN is not yet functional within Off the Grid, and the game still operates without blockchain-integrated gameplay. Gunzilla’s web3 lead, Theodore Agranat, stated that migrating the game to the GUNZ mainnet remains a “main priority,” but no timeline has been provided.

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Pranksy’s Golden Ape Doodle Sold For $1M+ Loss https://earlybirdsinvest.com/pranksys-golden-ape-doodle-sold-for-1m-loss/ https://earlybirdsinvest.com/pranksys-golden-ape-doodle-sold-for-1m-loss/#respond Mon, 31 Mar 2025 11:13:14 +0000 https://earlybirdsinvest.com/pranksys-golden-ape-doodle-sold-for-1m-loss/

Doodle #6914, known as the Golden Ape Doodle for its rare appearance, has sold for 34 ETH ($61,375 USD) – marking a huge loss for its seller, noted NFT collector Pranksy.

Pranksy initially purchased the NFT for 296.69 ETH ($1.11 million USD) on January 5, 2022, with his 3+ year tenure as holder of the Golden Ape Doodle now coming to an end. This is the largest single sale in the offloading of his Doodles NFTs, with Pranksy having sold 28 other Doodles via bids for 77 ETH total in the past few days.

The buyer is reported to be Chinese NFT collector @haoxitong, who revealed his purchase on X. Discussing the sale on X, Pranksy noted that he’d “love to say I’ve enjoyed every day we spent together, but it’s been pretty dire since that day”, reflecting on the loss and the downtrend in the NFT market overall.

Key Insights

  • Doodle #6914 – the Golden Ape Doodle – has been sold for 34 ETH ($61,375 USD)
  • Last purchased by Pranksy in January 2022 for 296.69 ETH ($1.11 million USD)
  • Now owned by Chinese NFT collector @haoxitong
  • Pranksy has sold over 20 of his Doodles NFTs in the past 3 days
  • Doodles floor price dipped from 3.39 ETH ($6,780 USD) to 2.79 ETH ($5,130 USD)
Pranksy Golden Ape Doodle - Announcement
Source: @DoodlesSalesBot on X

Why did Pranksy sell the Golden Ape Doodle?

Ultimately, only Pranksy himself will know why he has chosen to sell not just his Golden Ape Doodle, but many of his other Doodles NFTs as well.

The purchase of Doodle #6914 on January 5, 2022 for 296.69 ETH – at the very height of the NFT market – made the Golden Ape Doodle the largest 1-of-1 Doodles NFT sale in history. Pranksy would go on to build a collection of over 70 Doodles NFTs, at one point worth well over $3.5 million USD – though has drastically whittled that down, especially in the past week.

Many reactions have expressed how ‘free’ this purchase was for the buyer. Some have speculated that the sale could be tax-related, with Pranksy stating as much in a recent tweet. In a later tweet, Pranksy stated that this sale marks a shift in his priorities, noting that he is “looking forward to a new chapter not involving speculation, gambling and AI”.

Pranksy Golden Ape Doodle - Tweet
Source: @pranksy on X

What impact will this have on Doodles?

The sale made an immediate impact on the floor price of Doodles NFTs, dipping from 3.39 ETH ($6,780 USD) to a low of 2.79 ETH ($5,130 USD) – though has recovered to 2.95 ETH ($5,275 USD). This happened in spite of a dip in the value of ETH over the same period.

The past six months have seen a lot of activity for Doodles. Following a McDonalds collaboration in November, Doodles experienced a floor price surge – alongside much of the NFT market – rising from 1.20 ETH ($3,750 USD) on November 10, 2024 to 6.59 ETH ($22,880 USD) on December 21, 2024. This was driven by the reveal of the upcoming $DOOD token.

2025 has seen the announcement of Doodles founder Burnt Toast stepping into the CEO role, a cryptic ‘dark mode’ teaser, and the impending reveal of a new direction for the collection – with the DreamNet protocol revealed on March 27.

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SEC concludes Yuga Labs, Bored Ape Yacht Club investigation with no charges https://earlybirdsinvest.com/sec-concludes-yuga-labs-bored-ape-yacht-club-investigation-with-no-charges/ https://earlybirdsinvest.com/sec-concludes-yuga-labs-bored-ape-yacht-club-investigation-with-no-charges/#respond Tue, 04 Mar 2025 04:20:10 +0000 https://earlybirdsinvest.com/sec-concludes-yuga-labs-bored-ape-yacht-club-investigation-with-no-charges/

The US Securities and Exchange Commission has officially closed its investigation into Yuga Labs, the company behind the Bored Ape Yacht Club and CyberPunks NFT collections.

The regulator does not intend to take any further enforcement actions and did not issue any charges against the firm. In a social media post on March 3, Yuga Labs said the closure was a win for creators and NFTs.

It stated:

“After 3+ years, the SEC has officially closed its investigation into Yuga Labs. This is a huge win for NFTs and all creators pushing our ecosystem forward. NFTs are not securities.”

Yuga Labs probe

The SEC had launched its probe into Yuga Labs in October 2022  The agency had been examining whether certain NFTs could be classified as securities under federal law.

Specifically, the SEC was reportedly investigating whether Yuga Labs’ NFT collections, including Bored Ape Yacht Club and related assets, were marketed in a way that could be considered an investment contract under the Howey Test.

The agency also scrutinized the company’s sale of ApeCoin (APE), a crypto associated with the BAYC ecosystem, to determine whether it fell under securities regulations.

With the SEC’s decision to close the case without any charges, Yuga Labs and the NFT industry at large see the move as a significant regulatory victory.

The decision provides some clarity for NFT creators and marketplaces, though broader questions about the classification of digital assets remain unresolved.

Multiple cases closed

The decision to end the Yuga Labs inquiry comes amid a wave of SEC case closures in the crypto sector under new leadership appointed by the Trump administration.

In recent days, the agency has also dropped investigations into Robinhood, Gemini, Uniswap Labs, Consensys, and OpenSea. Meanwhile, the SEC has settled lawsuits with Coinbase and Kraken and is reportedly moving toward a resolution with TRON founder Justin Sun.

This regulatory shift follows years of scrutiny from the SEC, which ramped up its enforcement actions against digital asset companies under Chair Gary Gensler.

The agency had argued that many crypto assets, including certain NFTs, met the definition of securities under the Howey Test, a legal standard used to determine whether an asset falls under SEC jurisdiction.

However, industry leaders have pushed back against this classification, arguing that NFTs represent digital ownership rather than investment contracts.

Despite the SEC’s recent case dismissals, its longstanding lawsuit against Ripple remains in active litigation.

Mentioned in this article
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