I tried to explain what Aping is in comic strips.
I explained what Aping is.
Some Takeaway
Aping is not pretending like an ape and running around. Aping is a way to trade crypto recklessly. The phenomenon is from the NFT's successful marketing project called Bored Ape Yacht Club. It is an NFT exclusive society and membership is to sell NFT of each different style of unique cartoon apes images. People may question why such cartoon apes' images value more than $750M. Nobody knows. But we observed that such NFTs were owned by celebrities like Stephen Curry and many others. Some may say such NFTs are scam projects to lure people to buy them up the valuation and dump them later. Some may say such NFTs are truly collectibles. Such debate will continue going on. However, the ripple effect creates hype for many people to overheat the NFT space. Aping is one of such hype created specifically for those people who jump into NFT projects or other crypto projects carelessly and try to get rich overnight.
Aping or Apeing
Aping is a mild term rather than Apeing which is more intensive. Apeing is an all-in move that people FOMO and want to ride the trend, while aping is trying to all-in and push others to join.
Dangerous of Aping
Aping will likely encounter a pump and dump. By hoping one asset will have a 1,000% return overnight, you will bear a huge risk that is likely to lose all your funds. Rather than aping every investment, you want to learn the project while observing how the project evolved to become.
Quick Dying Out
Aping phenomenon dies out fast. Since the NFTs market cools down fast, the crazy valuation of the project is rare. Also, many more scams are easy to spot from the blockchain, people are doing more due diligence than ever before.
Aping Meme
The meme phenomenon survives. People will remember such crazy NFTs projects in the future. And how crazy people rush into space to take advantage without thinking through. Many are losing their funds but they also learned lessons from such a trend. Aping becomes a way to meme an NFT project that potentially will rug pull people.
In conclusion
Aping is bad. But the Aping meme is actually good for people to raise alarm in the NFT space.
Photo by Rishi Ragunathan Unsplash
Note: the post was shared on multiple platformsYou can refer my previous article lists
Digital Commodities- the Unlimited Resources of Commodities Has Born
Universal Income in Crypto Way
DeFi 1.0 is Officially Dead - Welcome to DeFi 2.0
How Many Ads Are Too Much - Floki Inu Ads Got Backfire
Bitcoin ATM Adoption and Its Potential Security Vulnerabilities
When Corporations Are Running By Everyone
The Fundamental Value Is Irrelevant
Coinbase At Huge Reputation Crisis
Regulations Start Hitting Crypto Exchanges
From Bitcoin Standard To Zero-Knowledge Proofs - Decentralization 2.0
Shiba Hits 1 Million Users (Army) Milestone: What is Next?
How To Avoid Crypto Scammers
Shiba Game - When Meme Meets Metaverse
Twitter CEO Steps Down - A Full-Time Bitcoiner
Change of Macroeconomy Landscape
CBDC Is Losing The Game
Brief History of Ethereum and How Ethereum 2.0 May Over Promise
Who Cares If Craig Wright Is The Real Satoshi
Institutional Investors vs. Whales
A Proposal To Move Bitcoin Mining PoW Away
IMF Keep Crying Out, Crypto Adoption Keep Accelerating
Dogecoin Is Back to Top 10 But The Moon Shot Is Looming
How to Avoid The New Wallet Scam
Defi Enters To Crypto Bond Phase
What Types of Metaverse You Want
Global Regulations Are Coming Or Can They
IMF Did Have A Plan to Run Global Regulations
A New Malware Will Steal From Telegram
Smart Money Is Out, Institutional Money Is In
Airdrop?! Not So Lucky Anymore!
2022 Prediction #1: L1 Scalability
2022 Prediction #2: L2 Bridges
2022 Prediction #3: Zero-Knowledge Proofs or ZKPs
2022 Prediction #4: Regulated Defi On-Chain KYC
2022 Prediction #5: Institutional Crypto Adoption
2022 Prediction #6: Defi Insurance
2022 Prediction #7: NFTs-Based Communities - DAO 1.5
2022 Prediction #8: Metaverse and NFTs
2022 Prediction #9: Web2 Companies’ FOMO
2022 Prediction #10: Time for DAO 2.0
Crypto.com Backfire - When Centralized Crypto Service Panic
Coinbase Customer Service Alive
When You Want Someone Forget About What You Did, Just Change You Name
When YouTube Enters Into NFTs
Facebook Just Did the Rug Pull
Bridging Between Web2 to Web3 Through NFTs
Who Is The Winner of The Crypto Adoption
What You May Expect NFTs After 6 Months and Beyond
Wormhole Hack - It May Not Be a Bad Thing
Lessons Learned From Wonderland DAO
Crypto Comics - Who is Satoshi
Crypto Comics - What is Wallet
Crypto Comics - What is Coinbase
Crypto Comics - What is A Block
Crypto Comics - What is DeFi-2
-------------------------------------------------------------------------------------Disclosure: The article was written by a delusional author who is possibly a nut job without any questions whatsoever about expertise in the subject matters. You should not believe any words this author wrote or you may experience similar symptoms or even possibly become a nut job.