🦧 I bought a Bored Ape for $10

🏎 The most sought after assets and NFTs are being democratized!

Welcome to the 37 new Rainmakers who have joined us since last week. Join the 2,587 others who are laughing, learning, and staying at the forefront of tech every week!

Gooood morning, Rainmakers! ☀️

As always, I have two captivating topics for you to dive into:

1️⃣  🦧  I bought a Bored Ape for $10!: Now you can own tokenized shares of expensive assets and NFTs for the fraction of the price!

2️⃣  🚔  Another platform bites the dust: The cryptocurrency marketplace, Uniswap, just got hit with a class-action lawsuit!

Without further ado, it's time to…

Get liquid 💧

🦧 I bought a Bored Ape for $10

You heard me right.

I just bought a Bored Ape Yacht Club NFT for only $10!

No, I didn't steal it.

No, it's not fake.

It's 100% real and verified by the blockchain.

Okay, you are half right, but only because I am not a Singaporean citizen.

A couple of newsletters ago, I discussed how Rally Road offers compliant fractional interests in NFTs and rare assets, but the shares are unfortunately not tokenized.

Across the pond in Singapore, the InvestaX security token exchange is doing something similar except they are offering tokenized shares that represent ownership of a BAYC NFT!

Otherwise known as a security token!

Let's break down how InvestaX made this all possible.

Firstly, they acquired a BAYC NFT for 94.69 Ethereum, which can be viewed by searching "2371" via OpenSea on the Bored Ape Yacht Club page.

That's one bored lookin' ape if you ask me.

The shares backed by this NFT will be given the ticker IXAPE.

Similar to how BAYC holders have special rights to perks and benefits, IXAPE holders also will have perks, but within the InvestaX ecosystem!

Some of these include: 

  • Capital gains distributions from the NFT
  • Potential Financial Distributions from Profits from other Activities related to the NFT
  • Exclusive Membership or Community Access as InvestaX Preferred Clients

and more!

The InvestaX team has even personified the NFT and named it 'Howey Tez' after the 'Howey Test,' which is the test the SEC uses to determine whether or not an asset is a security.

Out of all the investments I have come across in my time in the security token space, this has to be one of my favorites.

This investment is compliant, democratizes access to expensive assets, and even creates a subcommunity with perks and benefits!

It doesn't stop there!

Very soon, you will also be able to purchase a share of a very luxurious Ferrari.

Keep it up, InvestaX, I can't wait to see BAYC, Cryptopunks, and all of the top-tier NFTs/collectibles trading on your marketplace! 

🚔 Another platform bites the dust

The Uniswap cryptocurrency trading platform is officially in hot water after allegedly allowing the trading of unregistered securities. 

In the last year, did you by chance invest in any cryptocurrencies such as EthereumMax, Matrix Samurai, or Rocket Bunny?

If you did, you probably aren't too pleased with the returns.

Don't worry though, you may be entitled to compensation for your losses via a class-action lawsuit.

The lawsuit was filed by Kim & Serritella LLP and Barton LLP and aims to invite victims like Risley, who have lost money since last April on Uniswap, to sue the decentralized exchange and its backers, including famed VC firms like A16z and Paradigm.

In fact, this isn't the first time Uniswap has been involved in a lawsuit.

Last September, the SEC began investigating Uniswap Labs and the legalities around its platform.

We need regulation more than ever.

I just hope we get this figured out before more people get hurt.

💦 What else is Drippin’

  1. Ask a Security Token Advisor: Ask anything on your mind related to blockchain-based anything!
  2. Stripe to Let Clients Make Payments in USDC Stablecoin via Polygon – Starting With Twitter: One of the largest payment providers now accepts crypto!
  3. SIX Digital Exchange Inks Partnership with Daura: Daura's SMEs can now issue private bankable securities in SDX's centralized depository!

Thanks for tuning in! Keep an eye out each Monday for the next security token adventure 🧗‍♀️


• No money or other consideration is being solicited, and if sent in response, will not be accepted; 

• No offer to buy the securities can be accepted and no part of the purchase price can be received until the offering statement is filed and only through the platform of an intermediary (funding portal or broker-dealer); and 

• A person’s indication of interest includes no obligation or commitment of any kind

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