Part 11 of my series reviewing Bitcoin NFT Projects built on Stacks we’re getting into some (prepare yourself for an outdated pop culture reference) monkey business. That means the Bitcoin Monkeys NFT Collection on Stacks. You can find the first ten entries in my series, right here:
- Part 1 – Bitcoin Birds
- Part 2 – The Explorer Guild
- Part 3 – Funky Donuts
- Part 4 – Marbling
- Part 5 – Phases of Satoshi
- Part 6 – Tiger Force
- Part 7 – Space Whales
- Part 8 – Stacculents
- Part 9 – Hback Whales Club
- Part 10 – Stacks Parrots
“Being successful entrepreneurs in the traditional world and having experience across both Solana and Ethereum NFT’s, failure is not an option for us – neither is being second best!”-Bitcoin Monkey Dev Team
The History of Bitcoin Monkeys
This project was announced through Twitter on November 4, 2021, around the same time that Bitcoin NFT’s on Stacks were garnering significant attention.
Who Created The Bitcoin Monkeys Bitcoin NFT Collection?
According to their website, this project was spearheaded by six anons. So, in other words, a barrel of monkeys.
What Was the Mint Price?
Mint date was November 27, 2021. Mint price was 45 STX. The price of Stacks crypto was $1.94 USD on that date, making the price of minting a Bitcoin Monkey NFT around $87. This was also apparently the first NFT that could be minted with STX, MiamiCoin or NYCCoin.
How Many NFT’s are there in this Collection?
There are 2500 Bitcoin Monkey NFT’s.
What Do Bitcoin Monkeys NFT’s Look Like?
Bitcoin Monkeys are animated simians that face toward the viewers right, each with a smiling or neutral expression. While they may be slightly reminiscent of the Bored Ape Yacht Club collection, the imagery is brighter and more crisp by comparison.
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What Are the Rarity Attributes of Bitcoin Monkeys NFT’s?
While sites like Byzantion.xyz and Gamma.io usually have a reliable list of rarity factors, sometimes the NFT team puts out a rarity table on an Excel file. However, the Bitcoin Monkeys team has done an outstanding job when building their rarity table. This clearly shows what each attribute looks like, absent all other features. And since I’m the guy that researches rarity factors, I definitely notice this. Okay on to the six attributes for this NFT collection:
- Background – Solid colors, rainbow, “sky” and “space.” Space is the most rare at 3.04%.
- Fur – 11 different variants including “zombie” and “leopard.”
- Clothes – 20 different types with the stxnft.com, byzantion and Muneeb T-shirts the rarest in the set (0.04% each)
- Eyes – (14) including “Bitcoin Eyes,” (3.28%) “Cyborg,” (2.92%) “Laser Eyes Red” (1.92%) and “Laser Eyes Green” (1.4%).
- Hat – Everything from spinner hat to a banana skin with a crown being the rarest (0.84%).
- Mouth – Thirteen options with banana being the most common and gold teeth the least.
What is the Rarest Bitcoin Monkeys Bitcoin NFT?
That would be Bitcoin Monkeys #1 with the “Muneeb” T-Shirt, Bitcoin cap and Space background.
Which Bitcoin Monkeys Bitcoin NFT is the Dopest IHMO?
#319 does it for me. The flat purple shirt and blue fur mesh nicely with the space background as do the 3D shades. Love the Bitcoin cap and the diamond teeth. Matter of fact, especially the diamond teeth. Maybe because it reminds me of this.
How Far Along Are They on Their Roadmap?
The Bitcoin Monkeys roadmap has gone through some changes since this tweet. They’ve included a very detailed (and updated!) map at https://BitcoinMonkeys.io.
Objectives 1-4 are completed. This includes the website launch, mint, posting of the rarity table and setup of their merchandise store. While #5, developing a DAO Monkey Council for holders in the Jungle Club, has yet to be completed, they have managed to check off the rest of their goals. Among them, releasing a separate NFT project (#7), Mutant Monkeys, and allowing holders to earn “bananas” for staking their Bitcoin Monkey NFT’s (#6). They are building their NFT ecosystem around the $BANANA currency, of which there is a cap of 1 million:
“As the ecosystem grows, more utility will be added – increasing the utility of BANANA. However, there will only be a supply of 1,000,000 BANANA. Each monkey earns 2 BANANA per day.”
Each of the 2,500 NFT’s can earn $BANANA though staking. While every NFT can earn 2 $BANANA per 24 hours, some rarer Monkeys enjoy a higher Banana Generation Rate (BGR). Staking and un-staking these NFT’s come with a charge of 5 STX (currently, just under $2). From that fee 2 STX are for developing the project ecosystem, 2 for funding the ecosystem and the Monkey Store and 1 will be set aside for community Jungle Club proposals. No fee will be charged if a monkey remains staked until all 1,000,000 $BANANA have been released.
The Naming Center (#8) gives holders a chance to name their own NFT. If you browse through the directory, you will see some with names like “Ghost” “Galaxianna” and of course, “Muneeb Ali.” #9 is the completion of another roadmap toward merging with the Mutant Monkeys ecosystem, which I will cover in my upcoming blog on that respective NFT.
What Utility Do These NFT’s Have?
Currently, all Bitcoin Monkey NFT holders can receive airdrops and participate in giveaways.
And as I’ve mentioned in the previous paragraph, these NFT’s are already being staked and generating the alpha token for their ecosystem. Additionally, they’ve hinted that $BANANA can be used for another project, “Meta Monkeys” on Ethereum. According to the Bitcoin Monkeys Whitepaper, they have already purchased land in the Sandbox Metaverse where they are building Monkey Island. $BANANA will be required to make purchases in Sandbox. Owning a Bitcoin Monkey is an avenue of entry into the Metaverse.
The Bitcoin Monkeys Bitcoin NFT Community
There are currently 106 owners of the 2500 NFT’s in this collection. The community has a Twitter page with over 4,100 followers and a Discord with 3,000+ members. Their website is at https://BitcoinMonkeys.io.
How Much Do Bitcoin Monkeys NFT’s Cost Today?
As of June 23, 2022, this collection has a current floor price of 670 STX. With STX currently at $0.39, purchasing one floor Bitcoin Monkeys NFT will cost approximately $216.30 USD. With a price in USD at minting of $87, this collection has a positive ROI of 249% for anyone who minted a floor level NFT, an exceptional return considering the precipitous drop in crypto prices over the past several months.
The Future for The Bitcoin Monkeys Bitcoin NFT Collection
I mean, how can you not have the utmost confidence in this group, moving forward. Solid project. Realized utility. Strong community. Outstanding website. They have their own Whitepaper. You can see it in the minor details that set them apart, like their rarity table. These guys aren’t weeks or months away from staking their NFT’s for a native currency. Bitcoin Monkeys have been making this happen, and for for quite awhile. The team has already launched a successful second project in Mutant Monkeys and have bridged over to the Sandbox Metaverse. Their roadmap is pretty much a just sequence of checked off targets and we’re barely six months into the project. Of the NFT projects I’ve covered so far, clearly, the anons on this dev team are the Not F*cking Around Crew. I am impressed.
You’ve almost made it to the end, but you could use a reminder that you can support my site out by checking out OKCoin, the preferred exchange of the Stacks ecosystem. You can even earn $50 of Bitcoin as a bonus by using this link. And what’s better than free money? Free Bitcoin!
Where Can I Purchase Bitcoin Monkeys NFT’s?
Bitcoin Monkeys Bitcoin NFT’s can be purchased at:
Are Bitcoin Monkeys NFT’s a Good Investment?
While none of this is to be construed as financial advice (please see the website disclaimer), anyone who reads this blog or follows my Twitter already knows that I am very bullish on the outlook for Stacks cryptocurrency, the underlying blockchain for Bitcoin Monkeys Bitcoin NFT’s.
NFT’s on Stacks are absolutely exploding since their debut in 2021. In addition to their recent listing on Coinbase, the Stacks ecosystem is best represented on OKCoin, where you can get exposure to Stacks, Arkadiko Finance, and CityCoins like MiamiCoin and NYCCoin. Stacks is the protocol that brings d’Apps, NFT’s and Ethereum-like utility to Bitcoin. I am a believer that any exposure to Stacks comes with tremendous future upside potential. So, while everyone should do their own research before investing in any NFT or cryptocurrency, I think the future of most NFT projects on Stacks hold considerable promise.
You can also help my site out by signing up with OKCoin. When you do, you can earn $50 of Bitcoin as a bonus by using this link. And what’s better than free money? Free Bitcoin!