A leading cryptocurrency company is giving away a NFT from one of the most well-known collections out there in an attempt to increase awareness of a product launch.
What Happened: Coinbase Global (NASDAQ:COIN) is giving away a Bored Ape Yacht Club NFT to a lucky person that downloads the company’s Coinbase Wallet app. The app is available via the Apple Inc (NASDAQ:AAPL) iOS store or Google Play Store from Alphabet Inc (NASDAQ:GOOG)(NASDAQ:GOOGL).
“Anybody want a free Bored Ape NFT,” Coinbase CEO Brian Armstrong tweeted.
Users will have to download the Coinbase Wallet app between now and Oct. 26, import or setup a new wallet or import an existing wallet, follow Coinbase on Twitter through Nov. 15 and tweet their Twitter username and the #CoinbaseWalletSweepstakes.
The Bored Ape used in the giveaway is #4609, ranked as rarity #7309 out of the 10,000 collection on Rarity Tools.
Bored Ape Yacht #4609 has the traits of yellow background (13% of Apes), service clothes (1%), heart eyes (4%), tan fur (6%) and bored mouth (23%).
The rarest characteristic on the Ape of service clothes has a floor price of 33 ETH, or around $135,300 at the time of writing.
Why It’s Important: The move to give away a Bored Ape could be a great tool by Coinbase to increase app downloads of its Wallet app. The move could also bring more awareness that Coinbase is launching an NFT marketplace.
Bored Apes have been one of the most successful NFT projects of all time building a loyal community, a growing valuation and seeing interest from brands and celebrities. The company behind Bored Ape Yacht Club signed a talent representation deal recently.
A recent sale of a Bored Ape marked the third most Ethereum (CRYPTO: ETH) paid for a piece from the collection.
Bored Ape #8585 has the rare traits of Trippy Fur and King’s Crown, which both are only available on 77 Apes.
DraftKings used a Bored Ape as the prize for a daily fantasy football contest earlier to kick off the NFL season.
The current floor price, or lowest priced available, for Bored Apes is 29 ETH.