What is BAYC?
NFT 10,000-pixel avatars on the Ethereum blockchain are housed in the Bored Ape Yacht Club (BAYC). Yuga Labs developed the project, which was initially launched in April 2021. NFT’s “bored ape” collection portrays an ape with a disinterested look, as its name suggests. Various features and accessories with multiple motifs and colors were used to create each monkey character randomly.
As a result, each NFT in the BAYC collection is one-of-a-kind and has a particular value in the market.
The stage names of the BAYC founders were Gargamel, Gordon Goner, Emperor Tomato Ketchup, and Sass. All founders publicly revealed their true identities via Twitter after the doxxing in February 2022.
Greg Solano, a writer and book critic, plays Gargamel. A former pupil, Gordon Gone, is Wylie Aronow. Zeshan and Kerem are the proper names of Sass and Tomato Ketchup, respectively. Both are software developers.
As a relatively young entity, BAYC is strong enough to fight with the more established NFTs. According to the Decrypt site, BAYC is the second most traded NFT behind CryptoPunks. CryptoPunks, the first Ethereum blockchain NFT project, was launched in 2017.
Why is BAYC Popular?
One of the critical reasons behind BAYC’s success is its capacity to mix with celebrities, which comes at a high cost. In summary, a private Discord chat room will be available to fellow NFT owners, including elite celebrities, professional athletes, and others.
Among the instances are Tyrese Halliburton, LaMelo ball, Stephen Curry, and others. In addition, owning Bored Ape NFT will give owners access to other NFT collections. These collections have a lot of resale value and thus high-profit margins.
How to Purchase a Bored Ape NFT?
BAYC NFTs were sold to the public for 0.08 ETH in April 2021, and the whole collection was purchased within 12 hours. The NFT Collections are available on OpenSea. The collection, which has a high floor price, is easy to browse through. An Ethereum wallet, such as MetaMask, will be required by Bored Ape purchasers. Auctions or listings that impose a set price on NFT marketplaces are options for potential purchasers.
Advantages of Owning BAYC
The NFTs have a dual purpose outside of being used as digital avatars. First, every BAYC NFT owner becomes a lifetime member of a secret apes-only society. Among the most well-known Bored Ape owners is NBA star Stephen Curry who paid $180,000 for a tweed-wearing Bored Ape.
Membership benefits appear to be highly beneficial thus far. The Yuga Labs crew, for example, introduced a second ape series imaginatively. They issued 10,000 mutant ape serum vials in place of a new series. In addition, one complimentary ticket was offered to each lifetime member. M1, M2, and Mega Mutant are the three levels of the avant-garde ape series.
The avatars created by Yuga Labs are also trendy, with high demand and resale value. In addition, owners of these NFTs can use their digital likeness in games and other applications, giving them an edge when selling products or services online.
