Ape Tales: House of Kibaa

I started writing this post around the time of the GenX release but decided to postpone it's release until I had some time to look back on how it went.


If you aren't familiar with House of Kibaa, my original post can be found here.

 

I took a sizeable long term investment in House of Kibaa memberships a few months ago because I believe the metaverse is inevitable and HOK will be at it's forefront. In total I purchased 6 memberships at an average cost of 2.47 ETH each which I plan on using for passive income in the short term while the longer time frame plays out.


How will I benefit from putting in this investment?

  • 6 free NFTs per month (potential of up to 12 or 18 depending on number of monthly drops)

  • Extra airdropped NFTs can be sold for passive income

  • Airdrops can be held or used for giveaways


The metric which gives me most confidence in making a large investment into HOK memberships is it's unique ownership percentage. Currently there are 610 owners of the 809 memberships. This makes the unique ownership percentage about 75%, a higher than every established project on the market.


What does this mean?


A 75% ownership percentage means that a majority of holders own only 1 membership, meaning they don't have an extra to sell for profit if the price increases and they want to remain in the community.


High ownership = Less listings // Less listings = High volatility

  • # holders of 1 memership: 510

  • # holders of 2 memberships: 67

  • # holders of 3 memberships: 16

  • # holders of 4+ memberships: 17

Where everything stands, there are only 100 holders who can sell their membership without leaving the community entirely.


The closest NFT I can compare an HOK membership to is the Metakey. Both NFTs offer similar benefits: regular airdrops, private discord, metaverse utility. HOK's current disadvantage compared to Metakey is a smaller audience and being less network-based. However, HOK's membership advantage lies in leveraging a studio that specializes in creating metaverse NFT assets.


The benefits offered for holding 1 HOK membership is the same as holding all 3 original Metakey editions. Lets break this down.


HOK membership:

  • Digital studio

  • Provides access to ALL upcoming airdrops

  • Supply: 809

  • Current price: 1.95 ETH

Metakey:

  • Networking based community

  • Owners receive all future airdrops IF all 3 original Metakeys are owned

  • Edition 1: Supply 500; Cost 5.35 ETH

  • Edition 2: Supply 750; Cost 2.25 ETH

  • Edition 3: Supply 1000; Cost 1.26 ETH

Based off these numbers, it would cost 8.86 ETH to get the same benefits from the Metakey as you receive for holding one HOK membership that costs 1.95 ETH. Not only this, HOK has an advantage over Metakey in the fact that it is a digital studio rather than a networking-based community. For airdrops Metakey must rely on outsiders to create their assets while HOK can create everything in-house. Because of this, Metakey only seems to offer airdrops when they have a partnership with somebody. HOK provides monthly airdrops which makes it much easier to predict. Personally, I'd rather put my money with the original source of NFT assets rather than an information hub that relies on partnerships for utility.


GenX

GenX by HOK is the tier 2 membership of House of Kibaa that released on September 28th. 3,000 NFTs were reserved for HOK members in the private sale and the remaining 7,000 were distributed through a dutch auction public sale.


Total supply: 10,000

Mint price (private sale): 0.08 ETH

Mint price (public sale): 0.2 ETH starting price


I minted 10 GenX NFTs during the presale for a total of 0.8 ETH. I also received 6 free GenXs for holding 6 HOK memberships at the time of launch.

 

Reflection

I wrote a majority of this post back when GenX had just dropped. Back then I wasn't entirely sure how the investment would play out but I was confident it'd pay off. Since then the floor has been up and down but the airdrops have proven to be extremely rewarding.


Total investment: 14.82 ETH

Total profit: 7.214 ETH

  • GenX: 5.934 ETH

  • Kibaa bot pieces: 1.28 ETH


Current holdings:

  • HOK memberships - 6

  • GenX - 7

  • Kibaa bot - 1

  • Kibaa suit pieces - 5

  • HOK galleries - 6


To put things in perspective, I could've purchased 3 additional HOK memberships with the amount of ETH the airdrops have provided. THAT's how valuable the airdrops (and memberships) are. All this value was given to holders without them having to sell a single membership.


My conviction in this trade has only gotten stronger and I wouldn't be surprised to see these memberships selling for 15-20 ETH or possibly even higher in the next cycle. Not financial advice, just my personal opinion based on the numbers so far.

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