Is the bored ape yacht club worth $5B?

This seems naive when it doesn't even touch on the issue of fake volume in the NFT market. You can buy an NFT from yourself for a $1 million, boom it's listed as a $1 million NFT. Then sell it for $100k. What a discount! Apparently 99% of NFT trading volume is fake.

No

Not even the Tulip Bubble was that devoid of reality

The "bored ape" trend is a Nigerian Scammer Email gone wild. It is literally as nonsensical as possible to filter the most gullible. But of course with Luxury Marketing and "investors" (which don't care if they burn 100k in something with very low chances of having negative returns because it's 0.1% of their net worth - or even less)

Now read about gas fees and minting fees and see who's really ending up with (actual) money in their pocket.

That if the bored apes won't be the mother of all rugpulls.

If you notice from their messaging, what the brand focuses on is not the "ape", but the "club"; or "yacht club" to be more exact. People wanting to belong to so called high status societies goes back thousands of years.

Their offering is so shallow that the high prices seem paradoxical. Which is a great thing for a brand because the paradox hints that the value is intrinsic. "It's big because it's cool". Whatever technical issue we have with them is irrelevant... Until June when no one even remembers this.

The question hinges on the definition of "worth".

IMO: is it worth 5 billion? Hell no. Will someone pay 5 billion for it? Yes.

I mean, someone invested $120 million in Juicero at one point.