NFT

Brother Mark Zuckerberg wants to be a hero and save Monkey Market! Proposes to acquire thousands of bored apes and donate them to museums.

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Brother Mark Zuckerberg wants to be a hero and save Monkey Market! Proposes to acquire thousands of bored apes and donate them to museums.

The well-known NFT project Bored Ape Yacht Club (BAYC) recently faced a consensus crisis, with the secondary market price dropping by 14% in just one week to less than 40 ETH. To rescue its price, a major collector of Bored Ape Yacht Club, Huang Licheng, decided to step up as a hero and proposed to acquire a large number of related NFTs.

Brother Mark Lee Huang Li-Cheng proposes to rescue the boring ape market

"You are crying out for a hero to come, and here I am," said Huang Li-Cheng.

Amidst the uproar caused by the underperformance of NFTs under Bored Ape Yacht Club (BAYC), Brother Mark Lee Huang Li-Cheng announced today on Twitter that he plans to propose in ApeCoin DAO to acquire 1,000 BAYC, 2,000 MAYC, and a portion of CryptoPunks to donate to museums worldwide.

This proposal will be drafted by the special committee of ApeCoin DAO, with member Bored Ape G, and Huang Li-Cheng also inquired if there are any other NFTs recommended for purchase?

As of now, this proposal has not been formally submitted, and it is uncertain how the acquisition will be carried out. However, based on the lowest prices, purchasing BAYC and MAYC alone would cost at least 53,800 ETH, approximately $102 million USD. From a fundraising perspective, this proposal may not proceed very smoothly.

However, according to the NFT lending market situation at BendDAO, some BAYC and MAYC holders may hope for the swift launch and approval of this proposal, as there are currently 27 and 40 mortgaged BAYC and MAYC with a health factor of less than 1.1.

If a large number can be purchased from the market, it will inevitably drive up prices and temporarily mitigate the liquidation risks faced by these holders.

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