China’s largest telecom company Huawei sent the minimum price of Caked Apes NFT raising to 0.5 ETH after tweeting about it.
China’s largest telecommunications company, Huawei, tweeted a Caked Apes NFT today as a joke, which caused the minimum price of the collection to skyrocket.
Design brief: make something that says “we’re hip and trendy, but understand how you feel”
— Huawei (@Huawei) May 2, 2022
The sold-out collection had a minimum price of 0.069 ETH at launch and is now trading on the secondary market on OpenSea.
The minimum price of the Caked Apes NFT collection spiked to 0.5 ETH and is now at 0.45 ETH. Yesterday, only a total of six NFT were sold at an average price of 0.0607 ETH. At the time of writing, the collection has seen a total of 1,117 sales at an average price of 0.3488 ETH. A rare Caked Ape NFT called Pissbird sold today for 10 ETH.
Released on January 10, Caked Apes are 8,888 randomly generated NFTs created by artists Cake Nygard and Taylor.WTF. All features are derived from projects in Taylor.WTF’s extensive NFT library, including Bored Ape Yacht Club.
— Caked Apes (@CakedApes) May 2, 2022
Each NFT art features a psychedelic ape in bright colors, stacked with NFT characters from other collections such as Deadfellaz, Doge Pound, Gutter Cat Gang, Cool Cats, Crypto Mories, Metaheroes, Bad Kids Alley, Pixel Tots, Rumble Kongz, Robotos, Cryptoadz, Punks, Pudgy Penguins, Smilesss, Peaceful Groupies and more.
Buyers have been pouring in every minute since Huawei’s tweet, though it’s unclear whether Huawei bought the Caked Ape NFT it tweeted, considering China banned the cryptocurrency in September last year.
Huawei dropped its own NFTs on April 12. Its cloud computing arm launched NFTs based on the company’s mascot as part of the Huawei Cloud branding campaign. The NFTs are based on Huawei’s blockchain, the “petal chain.”
Although there is no clear regulation of NFTs in China, the country’s state-owned media outlet and mouthpiece, The Economic Times, called for stricter regulation of digital collectibles, prompting Chinese tech giants to restrict or ban the resale of NFTs. Chinese tech giants that have launched NFT marketplaces include Tencent, Alibaba, Baidu, NetEase and JD.com.
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