Who wins out in the ApeCoin debut? Venture capital, for one
• ApeCoin, Bored Ape Yacht Club’s token, recently launched to much fanfare. Around 1b coins were given out to BAYC holders, but 140m of those were given out to venture capital launch partners like a16z and Animoca Brands.
• ApeCoins also gives holders access to a DAO that makes major decisions about how to allocate funds from the sale. That means major venture capital firms now have significant shareholding power in a decentralized organization.
• Fun Fact: If a16z or Animoca decide to sell, they’ll make a significant profit, too. The token has already grown by around 66% since it launched, making the VCs’ collective stake worth around $2 billion. Oh, and that’s before a16z’s expected investment in the BAYC project.
Tom Brady’s return from retirement tanks the value of “last game” collectibles
• Just hours after a bidder paid more than $500,000 for a football used by Tom Brady in his retirement game, the football player announced he’d be returning to the field. For the unlucky collector, it means their prized football is now just another game item.
• Some experts estimate the value of the football dropped by 96% to just $20,000 following the announcement. Still, the bidder will be on the hook for the full amount because the listing was accurate at the time of sale.
• Fun Fact: News of the fan’s disappointing investment has reached Tom Brady, and he asked the crypto company he has a stake in, FTX, to donate bitcoin to the person’s charity of choice.
Warhol’s Marilyn portrait is expected to hit a new auction record
• One of Andy Warhol’s iconic silk-screen portraits of Marilyn Monroe is going on the auction block at Christie’s. The asking price is a cool $200m, a record for any work of art sold at auction.
• The work, “Shot Sage Blue Marilyn,” is one of five in its series. Its asking price is due, in part, to an exciting backstory: this series of Marilyns were shot with a bullet by performance artist Dorothy Podber. This work survived unscathed.
• Fun Fact: Warhol works are seen as a bellwether for the art market as a whole, since they come up for auction so often. The current record for a Warhol stands at around $100m, so if this one hits its asking price, it may push auction prices even higher.
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• A first edition Charizard Pokémon Card (1999 1st Edition Shadowless Holo PSA 10) sold for $420k at PWCC on Saturday. Otis has the same card trading for a market cap of $236.8k as of trading close 3/24.
• A Lionel Messi Rookie Card (2004 Panini Mega Cracks La Liga #71 BGS 9.5) sold for $96k at PWCC on Saturday. The same card is trading on Otis at a market cap of $58,098.80 as of trading close 3/24.
• A Kawhi Leonard Rookie Card (2012 National Treasures #114 /199 BGS 9.5) sold for $20.4k at PWCC on Saturday. Otis has a copy trading at a market cap of $8,480 as of trading close 3/24.
• A Venusaur Pokémon Card (1999 Pokémon 1st Edition Shadowless Holo Venusaur #15 PSA 10) sold for $18k at PWCC on Saturday. The same card is on Otis with a market cap of $15,015 as of trading close 3/24.
• Virgil Abloh’s Nike x Off-White sneaker collection, “The Ten” is up for auction at Sotheby’s, with estimates of $30-40k. The auction ends next week. The same collection is trading on Otis at a market cap of $21,680 as of trading close 3/24.
