NFTs are taking over the real estate of social platform’s profile pictures. Crypto Punks were the first widely adopted profile picture NFT flexed by blockchain OGs and celebrities who were told about one of the earliest NFT collections ever created dating back to 2017.
In April, 2021 Bored Ape Yacht Club (BAYC) was released at the mint cost of .08Ξ which was about $300 at the time. Since then, the BAYC community grew in size and strength with almost 6000 unique owners today. In addition, the world of BAYC has created two offshoots: Bored Ape Kennel Club (BAKC) and Mutant Ape Yacht Club (MAYC) which were both sent for free to the holders of the BAYC–further increasing the overall value of having a Bored Ape. Now the cheapest Ape that can be purchased in the collection is around 39ETH($110,000).
One of the most expensive BAYC NFTs to be ever sold was the #8817 ape selling for a record $3.4M in an auction by Sotheby’s.
For several users, the BAYC collection has been a crucial starting point. The CryptoPunks collection had its own appeal because of its historical value – it is one of the earliest collectibles NFT project on Ethereum.
However, BAYC pushed the envelop forward by introducing further utility to these tokens. Also, the fact that it led to the creation of an entire ecosystem around cool-looking apelike characters is an added benefit of its own.
Mutant Ape Yacht Club
The Mutant Ape Yacht Club (MAYC) is a project very similar to the BAYC one.
Each ape is unique and programmatically generated from over 170 possible features such as clothing, face, headgear, additional accessories. Some traits are rarer than others, and characters with them are more valued.
Where to Buy or Sell Bored Apes?
Bored Apes are predominantly traded on the OpenSea marketplace.
To purchase them, you need to log in using one of the wallets:
- Coinbase Wallet
- Various wallets via WalletConnect, etc.
The purchase takes place for ETH or WETH (tokenized Ether on the Polygon blockchain).
When did bayc minta
There are seven traits that when combined in different ways give unique identities to the apes: background, earring, eyes, mouth, hat, fur and clothes.
One of the biggest perks of holding the apes is that you get access to a digital graffiti wall known as the Bathroom Wall. The collection was officially launched on April 30th offering all of the 10,000 apes for sale.
The founding team members of Yuga Labs – the brains behind the project – now look at it as a defining movement in the “cryptoverse”, as opposed to what it was – a fun and collaborative crypto art experiment.
The objective of the experiment to create a digital space where “like-minded” and “tech-savvy” people could come forth and interact.
When did bayc mintay
They had already seen NFT projects in the past – while they had their own aesthetic value, they did not really serve any purpose for the user beyond that.
That is why, they decided to host the first annual Ape Fest, which ran from Oct. 31 to Nov. 6. It included an in-person gallery party, yacht party, warehouse party, and even a charity dinner in New York.
Now, the team even wants to enter in to space of the metaverse. They want their users to have the ability to have their favorite apes (or at-least their dress) to be used within various metaverses.
Once interoperability of metaverses have been figured, we could potentially use our Apes in video games and even the different versions of the metaverse.
When did bayc minter
The collectibles market saw an instant spike from what it was in 2020 to post the release of the BAYC collection. The digital collectibles market was a mere 11% in the last quarter of 2020.
This number jumped to 76% in the third quarter of 2021.
While we cannot attribute this whopping rise to just one project, we are quite confident that BAYC has had a major part to play in it. The number of active wallets has also increased during this period.
Even in the third quarter of 2021, it has been reported thatBAYC is the second most popular NFT project in the market – second only to the CryptoPunks project.
What has also fueled growth of the project is the rise in the secondary market sales, which currently averages 47,331 sales everyday since the collection was launched.
Some of these secondary sales have been extremely lucrative for a few holders.
All the Ape holders had the option to mint them – without having to pay anything apart from the gas fee.
And if this wasn’t enough, then there have been several collaborations that have taken place because of the project. Here is a list of some of them.
Rolling Stone – the favored music magazine – recently collaborated with the BAYC to “honor” the artwork in an exclusive NFT collection. These NFTs were released on SuperRare and helped fuel the growth of the platform by almost 50%.
Adidas recentlycollaboratedwith BAYC to fuel its ventures into the world of metaverse and the entire Web3 ecosystem.
Timbaland recentlyannouncedhis partnership with the BAYC to create a Ape in Productions (AIP) music label.
The entire ecosystem that has been created around the collection renders exclusivity to the entire project.
Gabe Rivera, the founder of the popular website Techmeme, described the article as standard business reporting. Others noted that the journalist used publicly available data, which, if desired, could be found by any Internet user.
Theorycels are coping hard, calling this “doxxing”, but it’s ultimately standard business reporting.
Calling it illegitimate implicitely asserts only certain wealthy, connected people should continue to know the identities behind folks orchestrating billions in transactions. https://t.co/oncgUKPpkJ
— Gabe Rivera (@gaberivera) February 5, 2022
Essentially, the debate boils down to whether crypto billionaires should be as controlled as politicians and traditional business moguls.
As for the developers themselves, they did not deny the obvious and treated the situation philosophically.
NFTs could be purchased for 0.8 ETH at the initial sale, which means that the distribution was fair without price levels.
BAYC also works as a kind of club membership card, giving owners access to certain privileges:
- Full ownership and commercial use rights granted to the owner.
- The Bathroom is a member-only graffiti tool. It is a canvas that is only open to wallet owners with at least one ape. You can draw or write whatever your heart desires on the canvas, but only 1 pixel per 15 minutes.
- Offline meetings and events.
- Additional benefits as you progress through the roadmap.
You need to log in to the project website using a Metamask wallet to use the privileges.
Let’s talk briefly about the technical characteristics.
Arguably the most successful NFT project, the Bored Ape Yacht Club (BAYC), is a collection of 10,000 uniquely generated bored apes that are stored on the Ethereum blockchain. Launched on April 23, Bored Ape Yacht Club had a mint price of 0.08 ETH and the collection sold out on April 30, 2021.
Owning a Bored Ape Yacht Club grants holders exclusive access to the Yacht Club, which provides a variety of member-only benefits. First, holders were granted access to THE BATHROOM, a collaborative graffiti board where members can add a pixel every 15 minutes.
Since that time all BAYC holders were able to mint one companion dog at no cost, from the Bored Ape Kennel Club (BAKC), for each Bored Ape they held.
In mid-August, the BAYC fixed the Arcade Machine, the final bullet from the team’s original roadmap.
The four have collectively started a revolution.
But what is the BAYC all about? What perks do the holders get by having a BAYC? How has the project performed? And most importantly, what kind of a revolution has it actually ignited?
We’ll be exploring all these questions in this article. Let’s dive in.
What is the BAYC project all about?
BAYC is a collection of 10,000 unique apes that have been given a humanlike avatar.
Some traits are considered rarer than others. In this sense, the collection draws inspiration from the CryptoPunks collection where some punks have unique traits that made them more valuable than others.
Each Ape is an ERC-721 NFT, which means that each of them has a unique identity on Ethereum’s blockchain.
With the Arcade Machine fixed, Bored Ape holders received one of two separate Mutant serums (M1 or M2), which could be used on their ape. Using the Ape on their serum produce a separate NFT, from the Mutant Ape Yacht Club, that held the mutated version of their Ape and the respective traits.
In late September 2021, the team behind Bored Ape Yacht Club announced the BAYC Roadmap 2.0, which hints at a game, real-life meetups, a DAO, and more.
In October 2021, BAYC announced the coming of a utility token slated for Q1 of 2022.
On Jan. 20, 2022, BAYC launched its mobile game, Apes vs Mutants, on the iOS Apple App Store and Google Play.
In February 2022, Yuga Labs raised over $200 million from Andreessen Horowitz and others.