Squishy Apes NFT – Is it worth buying?

Have you heard of the increasingly popular squishy apes recently? Why does it seem that whenever we open a major NFT, crypto site or forum, we often come across these authentic NFTs? Most crypto enthusiasts focus on these special and unique tokens, considering investing in them.

However, those who have only just heard of the squishy apes NFT project are wondering – is it worth buying these tokens? Why would these NFTs be worth your money, attention, and the valuable collection you own?

Before we get to this answer, let’s first see what these tokens represent and how NFT, in general, has become highly valued and popular with crypto maniacs and many ordinary individuals worldwide.

What is Squishy Apes NFT exactly?

Squishy Apes NFT represents a unique collection of 3333 extraordinary Squishy Apes specially created for users’ “squishing pleasure”. It is a digital artwork stored on Ethereum Blockchain technology.

Degen Labs is the mastermind behind this community-focused project. It has a unique roadmap that provides much information about the project, primarily with actions and not only words. The drop date of this fantastic collection was on January 9, 2022, and it was sold out.

The project is described as very enthusiastic and exciting since the community may expect staking and a fantastic $DGEN token. Getting a #Squape means that users will have a vote in future developments of the project.

Every Squishy Ape NFT is quite different from the others. It differs in the face, the clothes, and the overall vibe.

What can owners of Squishy Apes NFT expect?

Remember that owning a Squishy Ape by Degen Labs will instantly WL a user for a special Mutant Degen Monster Apes (MDMA) collection. It is instrumental in earning $DGEN tokens for some future valuable NFT collections.

Statistics of Squishy Apes NFT

When it comes to the statistics of Squishy Apes NFT on OpenSea marketplace and the date from moment ranks website, here is the current situation:

• Items: 3.3K
• Owners: 1.3K
• Floor Price: 0.004 ETH
• Total Volume: 224 ETH
• Market Cap: $19.181
• Recent Squishy Apes sales: #1516 sold for $8.8; #2181 sold for $7.4.

Sales of Squishy Apes NFT in the last three months

During the last three months, or 90 days, the average daily volume of Squishy Apes was Ξ0,2825, while the 90-day average price was Ξ0,0113.

Squishy Ape Staking

According to the post from February 2022 on the official Twitter account of Degen Labs, the creator of a Squishy Apes NFT project,

• One #Squape will earn 3 $DGEN tokens per NFT/day
• 1 $DGEN = 1 $DGEN

Popular Squishy Apes NFTs

Suppose you may be wondering what are the most popular Squishy Apes by Degen Labs so far? Here are the some of the most exciting and most popular Squishy Apes NFT items that you may consider buying on popular marketplaces, such as OpenSea:

#506 Squishy Ape NFT

• Face: Bubblegum
• Background: Bubblegum
• Clothing: Hawaiian
• Fur: Blue
• Token ID: 506
• Token Standard: ERC721
• Blockchain: Ethereum

#2106 Squishy Ape NFT

• Listed on OpenSea for $4.61 (0.004 ETH)
• Fur: Candy Blue
• Face: Wink
• Background: Orange
• Headwear: Top Hat
• Token ID: 2106
• Token Standard: ERC721
• Blockchain: Ethereum

#732 Squishy Ape NFT

• Sale ends: November 20, 2022
• Current Price: $5.53 (0.0049ETH)
• All-time average price: Ξ0,0485
• Background: Bubblegum
• Clothing: Hi-Vis
• Face: Tongue out
• Fur: Blood orange
• Headwear: Cowboy
• Token ID: 732
• Token Standard: ERC721
• Blockchain: Ethereum

#881 Squishy Ape NFT

• Sale ends: December 11, 2022
• Current Price: $4.52 (0.004ETH)
• All-time average price: Ξ0.05
• Background: Purple Rain
• Clothing: Singlet
• Face: Safety Glasses
• Fur: Gold
• Headwear: Cap
• Token ID: 881
• Token Standard: ERC721
• Blockchain: Ethereum

#296 Squishy Ape NFT

• Sale ends: July 12, 2022
• Current price: $4.52 (0.004ETH)
• All-time average price: Ξ0.02
• Background: Mustard
• Clothing: Safari
• Face: Bubblegum
• Fur: Coffee
• Headwear: Headphones
• Token ID: 296
• Token Standard: ERC721
• Blockchain: Ethereum

#440 Squishy Ape NFT

• Sale ends: August 17, 2022
• Current price: $6.10 (0.0054ETH)
• Background: Navy
• Clothing: Chef
• Face: Tongue out
• Fur: Cream
• Headwear: Beanie
• Token ID: 440
• Token Standard: ERC721
• Blockchain: Ethereum

#433 Squishy Ape NFT

• Sale ends: August 17, 2022
• Current price: $6.41 (0.0057ETH)
• Background: Purple Rain
• Clothing: Cape
• Face: Wink
• Fur: Coffee
• Headwear: Doorag
• Token ID: 433
• Token Standard: ERC721
• Blockchain: Ethereum

#430 Squishy Ape NFT

• Sale ends: August 17, 2022
• Current price: $7.34 (0.0065ETH)
• Background: Orange
• Clothing: Hoodie Blue
• Face: Buck Teeth
• Fur: Black
• Headwear: Devil
• Token ID: 430
• Token Standard: ERC721
• Blockchain: Ethereum

#808 Squishy Ape NFT

• Sale ends: October 23, 2022
• Current price: $10.05 (0.0089 ETH)
• Background: Purple
• Clothing: Po-po
• Face: 3D Glasses
• Fur: Galaxy
• Headwear: Beret
• Token ID: 808
• Token Standard: ERC721
• Blockchain: Ethereum

#1401 Squishy Ape NFT

• Sale ends: July 6, 2022
• Current price: $11.29 (0.01 ETH)
• Background: Navy
• Clothing: Hawaiian
• Face: Cyclops
• Fur: Brown
• Headwear: None
• Token ID: 1401
• Token Standard: ERC721
• Blockchain: Ethereum

What are NFTs exactly?

One of the main questions related to this collection is whether it is worth buying and investing in it at all? However, to give you a complete answer to that question, you must understand what NFT means in the first place.

An NFT represents financial security data stored on a distributed ledger known as Blockchain technology. It is a non-interchangeable unit of data that is able to be transferred by its owner, allowing that NFT to be traded and sold.

Who can create an NFT?

Anyone can create non-fungible tokens nowadays since it doesn’t require special skills. Usually, NFTs include references to digital files such as audio, videos, photos, memes, GIFs, tweets, etc.

These authentic tokens differ from fungible cryptocurrencies since they are uniquely identifiable. The market value of one non-fungible token is associated with the digital file it references.

What do NFTs provide?

NFT proponents claim these nfts provide proof of ownership and a public certificate of authenticity. Remember that the NFT ownership, defined by Blockchain technology, excludes inherent legal meaning. It doesn’t grant any intellectual property rights, copyright, or other legal rights over its associated digital file.

Also, it is crucial to know that an NFT doesn’t prevent the creation of NFTs that reference identical files nor restrict the copying or sharing of its associated digital file.

NFT market from 2020 until now

It is evident that the NFT market grew explosively from 2022 to 2021. We can confirm that information with the statistic that the trading of NFTs in 2021 increased by 21,000$, which is more than $17 billion, over 2020’s total of $82 million.

So far, non-fungible tokens have been used as speculative investments. There’s been a lot of criticism for the carbon footprint and the energy cost associated with the frequent use of art scams and validation of blockchain transactions. Some critics claim that the NFT market is a Ponzi scheme or an economic bubble, predicting that it will begin to collapse as of May 2022. But that wasn’t the case.

What is NFT rarity?

For those wondering what Squishy Apes Rarity rank, it is crucial to understand the term “rarity” regarding NFTs. So, rarity rankings measure how rare an NFT is in a particular collection. All NFTs have a unique combination of traits, and that’s how they are authentic. So, while the combination of traits is different, one trait can apply to numerous NFTs.

The best way to see the Squishy Apes’ rarity is to select the preferred item from the Squishy Apes NFT collection on the marketplace and get all the information you need.

Is it worth investing in Squishy Apes NFT?

Investing in Squishy Apes NFT can be a good idea if you know the future of non-fungible tokens. For those unfamiliar with it, it’s essential to understand that NFTs have exploded in popularity. Some individual investors have made millions of dollars from non-fungible tokens.

Sundaresan, the famous investor who bought the $69 million artwork through auction, claims that NFTs are a legitimate store of value that refers to a shift in how the world observes collectible assets and art in general. According to him, NFTs pretend to become a new commodity class that will connect buyers and sellers across the globe.

Scepticism regarding NFTs value

However, there are also sceptical people regarding the value of NFTs since the purchased NFT represents only a digital file that anyone can copy with a unique asset address. Some professionals in the crypto industry question the NFT’s value since the ability to duplicate the underlying asset negates the value of owning a particular NFT.

What we know about NFT investing so far

No matter what, sceptical people will always be connected to any topic. What sceptics, but all other crypto and NFT enthusiasts, should know is that NFT has recently come to prominence as the digital asset that gained a lot of celebrity attention. They also fetched sale prices in the millions of dollars.

The NFT original artwork was sold at Christie’s auction for an incredible amount of $69,346,250. Numerous basketball fans could buy moments of NBA games. These moments come as video trading cards that regularly list six-figure prices.

Conclusion – What will happen to NFTs in the future?

Perhaps the best answer to whether it is worth investing in Squishy Apes NFT is to understand what will happen to the NFT shortly. Non-fungible Tokens have a great potential to be helpful in numerous industries by processing costs for transactions, increasing their security, and providing a new platform for the gig economy to work through.

Generally speaking, investing in NFT could be legitimate once investors genuinely understand what non-fungible tokens are used for. In 2022, the global NFT market size is expected to grow from 3.0 billion USD to 13.6 billion USD by 2027. The CAGR, which is short for the Compound Annual Growth Rate, from 2022 to 2027 is expected to be 35.0%.

So, as a passionate investor, that leaves you to conclude that it is worth investing in the Squishy Apes NFT project or any other NFT project you may encounter online. Good luck with whatever choice you make regarding your investments!