Coinbase To Produce Bored Ape Yacht Club Series
Coinbase is currently facing a lot of difficulties from the SEC, but according to an announcement from the exchange, a 3-part series called “The Degen Trilogy” has been released as a BAYC “shill” act.
On July 26, part one of the series was posted by Coinbase. However, this is genuinely a “catastrophic” debut. In the video, which is about 5 minutes long, the content mainly revolves around five characters from many different places who are attracted by the “treasure” of the Apecoin token (APE), so they gather to find the mystery behind it.
Scenes mentioning images of APE appear densely, 4-5 times with the description “Apecoin is Key” as if Coinbase is taking advantage of the movie BAYC to “shill” for APE, an action that exchanges should not do for any project in the market.
The majority of comments left on Coinbase’s Twitter also did not support the idea the filmmaker hoped to achieve.
Besides, the company’s COIN stock price also dropped sharply, showing no sign of recovery in recent times. Ark Investment sold over 1.4 million COINS on July 27. This investment fund once “collected” very strongly COIN shares in April 2021 to nearly $400 million, the average buying price is about $330/share. This means that Ark accepts a “stop loss” with 6x damage.
On the Bored Ape Yacht Club side, the NFT BAYC floor price plunged to $139,006 after falling more than 50% since the OtherSide fever at $187,390 on May 19, 2022.
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