Business magnate Elon Musk, who recently announced buying the social media company Twitter changed his Twitter profile picture for a Bored Ape Yacht Club collage. Musk wrote that the picture seems pretty fungible to him.
I dunno … seems kinda fungible— Elon Musk (@elonmusk) May 4, 2022
BAYC is a popular NFT collection consisting of 10,000 unique tokens.
In March, the company standing behind the development of the collection Yuga Labs announced plans to launch its metaverse called Otherwise. The company also launched a native token for the BAYC ecosystem, ApeCoin. Currently, APE is the 30th largest crypto with a market cap of over $4.5 billion. The price of the token hovers over $15.7.
Apparently, Elon Musk doesn't support NFTs. The topic is controversial as there are arguments about whether the tokens are unique and what is their meaning if everyone can see the tokens. However, others argue that everyone can see famous paintings on the internet but it doesn't change the thing that a work belongs to a certain person, and that's what makes it valuable.