The Ape Kids Football Club NFT collection launched on OpenSea Feb 4th after their minting at an over 0.23 ETH floor, so are down 92% as of June 30th – with a floor price today of 0.019 ETH.
In dollar terms that means the cheapest one now goes for just over $20, or £16.50. According to UK media outlet The Sun, they were trading for around £539 right after launch.
Partly that’s due to the Ethereum price also crashing 60%, which football icon and coach John Terry couldn’t have predicted – in February 1 ETH was equal to around £2,300 versus £900 today.
The average sale price of Ape Kids NFTs spiked as high as 0.2608 ETH on February 20th – so the floor price is down almost 93% from that peak, and more in USD or GBP terms.
Cryptoassets are a highly volatile unregulated investment product. Your capital is at risk.
View the OpenSea listing for AKFC here. As recently as yesterday some with rare traits sold for 0.04 ETH (£36), so some investors are still buying the dip.
There’s not much information available on what exactly their utility is – however as the OpenSea listing writes, AKFC has a supply of 6,626 NFTs and holders will be able to ‘take part in the AKFC World Cup, coming soon’.
Former Chelsea and England team captain and multiple time UEFA defender of the year John Terry would have had no idea that the crypto markets and NFT market would crash in mid 2022 – he released an NFT drop at an unfortunate time.
The Ape Kids Club, which AKFC is associated with, state they are involved with charitable ventures and ‘interactive learning about blockchain’, so John Terry may have had good intentions with this NFT project, rather than be out to make a profit.
According to the Ape Kids Club Twitter (@ApeKidsClub) they raised $141,000 for charity in late 2021.
The Ape Kids Club also announced in late December 2021 that they were working with the Elina Svitolina Foundation which is a tennis charity drive for children. They have no 2022 tweet with the word charity in however. We haven’t reviewed this NFT project yet on this site to verify its claims.
The Ape Kids Club NFT collection has a 0.065 ETH floor price on OpenSea and features similar artwork to the Bored Ape Yacht Club (BAYC). Their floor price also crashed from over 1 ETH in December 2021.
We could assume that John Terry’s goal with the Ape Kids Football Club was to raise awareness of UK youth charities and foundations related to sports – however The Sun report that Terry has now deleted his social media posts about the NFT collection.
The Sun has also criticized Terry’s NFT release as a ponzi scheme (‘Jonzi scheme’) in their headline. The UK paper called NFTs a high-risk asset earlier in the year when former Manchester United player Wayne Rooney sold digital NFT art of his portrait for £40 per token.
Next NFT to Blow Up – Lucky Block
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This article was written for Business 2 Community by Michael Abetz.
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Michael has been investing in cryptocurrency since the 2017 bull run, and is a freelance writer producing educational material on decentralized finance topics online.… View full profile ›
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