Just another day for the Bored Ape NFT holders to get richer with that one single NFT decision, shout out to the ones who have been holding their NFTs since the mint days. Getting a bored ape NFT at the outrageous price seemed like a waste of money to me in the past. Because, all you could do with your NFT at that time was use it as a display picture, also known as pfp(Profile Picture). Which was a trend in 2021, lots of people wanted to get an NFT just so they can use it as their profile picture and flex with it. Now that trend is over, the liquidity found in NFTs has reduced drastically, coupled with the crypto market.
The bored ape dev team, Yuga labs have been working to make sure that the bored ape NFT is not just a pfp NFT, but an NFT with more utilities, such as a developing game asset. Holders of the bored ape NFTs have gotten extra three NFTs, like the mutant ape, kennel, and otherDeeds for othersides NFTs. They have gotten Ape token airdropped to them, all because they bought the bored ape NF. Even though we are in bear market currently, the bored ape NFT is still one of the most traded NFTs on opensea. its been a while we heard something interesting from the bored ape NFT community, but I am sure that in no time we will get another update that will make the bored ape NFT holders richer again.
Now, you can stake your bored ape NFTs on Binance and earn APE token rewards, you can also trade bored ape NFTs on Binance, well this is good news for bored ape NFT holders because the APR is quite high, from 158% to 196%, with APE token daily rewards. This is on the Binance platform which is quite risky because Binance is centralised, if the platform shuts down, what happens to your bored ape NFT. I really dont know how the liquidity is being generated from staking your Bored Ape NFT, when staked what does Binance do with the Bored Ape NFT. Left to me, its a good idea to stake your bored ape NFT and earn APE rewards instead of just leaving them in your metamask wallet. This is not a financial advise.
But trying to understand how the liquidity of the APE token reward is generated is very important so you dont go investing and losing your bored ape NFT. A wise man once said, if you dont know where the liquidity is generated, you are the liquidity.