InvestaX, a strategic partner of IX Swap, acquired Howey Tez (#2371) of the popular Bored Ape Yacht Club NFT collection earlier this year. InvestaX fractionalized the NFT, now listed on IX Swap as IXAPE Tokens.
IXAPE Tokens, represent a share of ownership in Howey Tez's Bored Ape #2371 NFT, from the exclusive Bored Ape Yacht Club (BAYC)
Bored Ape Yacht Club, otherwise known as BAYC, is a collection of 10,000 unique Bored Ape NFTs developed by Yuga Labs. They were minted in April of 2021 for as low as 0.1 ETH or about US$250 at that time. The BAYC collection rose to prominence as world-renowned celebrities aped in to get their own “Bored Ape”, including Justin Bieber, Jimmy Fallon, Madonna, Stephen Curry, Steve Aoki, and Paris Hilton. Rap icons Eminem and Snoop Dogg even collaborated on a BAYC-inspired track called “From the D 2 the LBC”, which they performed during this year’s MTV VMA.
As the growth of the BAYC community and the limitless potential of its use cases, which is made possible by the intellectual property (IP) rights attached to every Bored APE, take center stage, it has prompted the value of the collection to skyrocket. As of 2022, the BAYC collection has hit a staggering total sales of US$1 billion, with a floor price of $125k for every Bored Ape NFT - and Bored Ape #2371 aka Howey Tez is no different.
By tokenizing Howey Tez, InvestaX tokenized the economic interest of the NFT into 5,000 tokens called IXAPE, with each token representing a right to a share of profits from the said high-value asset. Once Howey Tez’s IXAPE is listed on IX Swap, it will open opportunities for IX Swap users to participate in the IXAPE/IXS liquidity pool, as well as get first-hand experience on the potential of tokenizing a familiar digital asset and taking part in its fractional ownership.
Holding an IXAPE means you have a whitelisted wallet address that gives you exclusive perks and benefits as a preferred member of the Howey Tez community, including access to upcoming promotions, airdrops, and more.
A good example of this was when BAYC creator Yuga Labs airdropped 10,094 ApeCoin (APE) to every BAYC holder for FREE last March 18, 2022. At that time, the price of each Apecoin surged to US$18 and even reached an all-time high of around US$26.
This means that every BAYC holder who received 10,094 ApeCoin for FREE was sitting on over US$250,000 of pure profit just from the airdrop if they had decided to sell their tokens.
While Howey Tez as a whole is an NFT, its IXAPE tokens are fungible ERC-20 tokens, which means you can trade them on IX Swap’s DEX or utilize them in DeFi services like IX Swap’s upcoming IXAPE/IXS liquidity pool to earn passive income.
Access to Derivative NFTs
The full commercial rights to the NFT image of Howey Tez have been assigned to Howey Tez Pte Ltd, which means derivative NFTs of BAYC #2371 may be on the cards.
In simple terms, derivative NFTs are essentially an NFT project created by utilizing the assets and IP of an already existing project.
Mutant Howey Tez? Baby Howey Tez? Howey Tez Pixels? We don’t know what the future holds, but the potential is endless.
Sign up on IX Swap now and start to trade IXAPE https://app.ixswap.io/.