By Pranay Singh Bayas
NFTs experienced tremendous growth in 2021, fetching up to millions of dollars for individual pieces that could be acquired and shared on social media, resulting in billions of dollars in collective trading activity. It’s becoming difficult to maintain track of all the premium collections on the NFT marketplace. CryptoPunks, Axies, and the Bored Ape Yacht Club are just a few of such premium NFT collections worth millions of dollars.
Since its inception on April 30th, the Bored Ape Yacht Club has quickly grown to popularity. Let’s discover more about Bored Ape Yacht Club and How to purchase one.
Introducing Bored Ape Yacht Club (BAYC)
Developed by Yuga Labs, Headquartered in Alexandria, Virginia, Bored Ape Yacht Club is a unique NFT project built on Ethereum. BAYC is a set of 10,000 NFTs from Bored Apes. Bored Apes is a cartoon depicting a bored-looking ape with randomly generated qualities and accessories, and there are no two images that are alike. Each Bored Ape is one-of-a-kind and programmatically generated from 170 different traits.
These NFTs have now produced over $750 million in trade volume and are quickly becoming the preferred Twitter NFT profile pictures for celebrities, athletes, and others.
Each NFT of the Bored Apes Yacht Club contains seven traits:
- Background color, Clothes, Earring, Eyes, Fur, Hat, and Mouth.
It’s all about the rarity of the item in the world of art. Bored Apes with rare qualities are of high value, whilst those with a mix of common traits are considered less expensive. With a rarity score of 364.42, Bored Ape #7495 is currently the rarest Bored Ape NFT. Apes with cigarettes and laser eyes are also in great demand.
Meet the Founders
The team behind BAYC consisted of four key individuals that have chosen to go by pseudonyms. According to the BAYC website-
- GARGAMEL- Starcraft Obsessed. Eats Smurfs.
- GORDON GONER- Reformed Leverage Addict.
- EMPEROR TOMATO KETCHUP- Spent All Their Money On First Presses And Pet-Nat
- NO SASS- Here For The Apes. Not For The Sass.
Gargamel worked as a writer and editor before founding Bored Ape Yacht Club, while Co-founder Gordon Goner experimented in cryptocurrency trading. Later they added two additional friends, No Sass and Emperor Tomato Ketchup, who were in charge of the blockchain programming. They recruited experienced artists to complete the project’s graphics, which accounted for the majority of the upfront costs.
Perks of HODLing Bored Apes
The NFTs also serve as your membership card, granting you access to exclusive member benefits. You are becoming a member of an exclusive club whose advantages and services will grow over time. Your Bored Ape may act as your digital ID and open opportunities for you in the digital world.
Access to “The Bathroom” is one such member advantage. The BAYC Bathroom has a canvas that can only be accessed by wallets that hold at least one ape. Every fifteen minutes, bored ape-holders will be allowed to paint a pixel on the bathroom wall. As a result, making a collaborative artwork by the NFT holders.
Holding a Bored Ape NFT gives you access to more NFT items, which you may resell. The Bored Ape Kennel Club (BAKC) and the Mutant Ape Yacht Club (MAYC) are two such NFT drops from BAYC. The founders announced on Twitter to promote a free NFT airdrop to Bored Ape owners. The Bored Ape Kennel Club is a group of 10,000 dogs NFTs who serve as ape companions. Each BAKC dog is stored as an ERC-721 token, and every dog is distinct and generated programmatically from over 170 traits.
The MAYC rewards ape owners with a new NFT, a “mutant” version of their ape. Owners of bored Apes received a free airdrop of Mutant Ape serum vials. There are three grades of serum: M1, M2, and Mega Mutant M3. When a serum vial gets injected into a Bored Ape, it produces a unique Mutant Ape NFT. The M3 serum transforms an ape into something entirely new, with rarer traits and, hence, more valuable. Mega Mutant serum vials are limited to only eight, making them incredibly expensive.
How to purchase Bored Apes
The procedure for purchasing a BAYC NFT is straightforward. However, owning one is too expensive. BAYC has a floor price of 34.8 ETH.
- Go to the individual project page to buy a BAYC, BAKC, or MAYC NFT on OpenSea. Here you can browse the entire collection.
- Some items may be offered for a fixed price, while others can be auctioned.
- To buy an NFT on the site, you’ll need an Ethereum wallet like MetaMask, as well as enough ETH to pay both the purchasing price and the Ethereum gas fees.