Unless you’ve been camping out under a rock for the last few years, you’ll surely have come across the term ‘NFT’. Short for non-fungible token, this new asset category allows investors and art enthusiasts to claim the ownership rights of digital artworks (or other online assets), creating an entirely new form of storing and accumulating wealth and prestige.
The Bored Ape Yacht Club is one of the foremost NFT series out there, with a collection of artworks selling for over $24 million at a recent online auction for Sotheby’s and a lengthening list of celebrities queuing up join its exclusive ranks. But while you might have come across the Bored Apes before, you may not be so familiar with its Paradise Trippies offshoot. For those interested in learning more, here’s an introduction to all things Trippies.
What are Paradise Trippies?
Paradise Trippies are a limited edition set of NFTs created by talented artists Rui Duarte and Joe Ruiz, though they are the brainchild of Andy Booth, a long-time member of the Bored Ape Yacht Club. As such, they’re inspired by a psychedelic imagining of the exploits of Bored Ape #9696, otherwise known as ‘Party Pete’.
Pete is fond of telling tales of the fabled Paradise Island, which can apparently only be reached by imbibing a special ‘trippy brew’. After consuming the elixir, Pete journeys to the Island, and the Trippies NFTs that are now on the market are a summary of the characters (some good, some bad, some special) that he meets along the way.
Why are Paradise Trippies so sought-after?
The Paradise Trippies catalogue is composed of 10,000 unique artworks, all of which have now sold out. The finite number of the NFTs enhances their exclusivity and desirability – but of course, that’s not the only benefit of owning such a rare and interesting piece of digital artwork. Indeed, the Paradise Trippies team have baked a whole load of goodies into their virtual universe.
Rarity
For starters, the rarity of the NFTs varies from one to another, with some possessing unique traits and greater powers than others. This means that the initial purchase of the NFT was something of a lottery; those lucky enough to secure a rare item were likely to access a heightened value for their asset than others.
Charity
What’s more, four of the 10,000 tokens carried with them a charitable donation from the Paradise Trippies team, the beneficiary of which would be decided by the owner of the NFT. The donation was valued at 5 ETH – which, at the time of writing, was equivalent to a USD monetary worth of over $15,000 – meaning that there were sizable philanthropic rewards to be reaped from investing.
Exclusivity
As with the Bored Ape Yacht Club, those holding a Paradise Trippies asset gain membership to an exclusive online community. This gives them a sense of belonging that is only heightened by the prestigious nature of the club. Moreover, ownership allows grants access to the continually evolving and ever-fascinating world of Paradise Island, replete with goodies and giveaways.
Gaming
After all of the NFTs were sold and phase 1 of the Paradise Trippies project was complete, phase 2 began. One of the first steps in this stage was the unveiling of a Bitcasino slot game, wherein gamblers can win Trippies NFTs and cryptocurrency as prizes. It’s the first slot of its kind to offer such rewards, while the Paradise Island world also offers other games, puzzles and opportunities to win some serious swag.
As well as their uber-cool aesthetic and exclusive membership access, Paradise Trippies NFTs also offer a raft of other fun and inviting benefits. It’s no wonder they’re extremely popular!
***This is a sponsored post
