Bored Ape Yacht Club

Bored Ape Yacht Club

NFTs made their way into the mainstream last year, and some of the most popular collections became household names. A bored-looking ape avatar is the most prominent of them, and it comes in thousands of different variations.

Numerous celebs, including pop singer Justin Bieber, tennis player Serena Williams, and late-night talk show presenter Jimmy Fallon, have purchased an NFT from the Bored Ape Yacht Club. The launch of ApeCoin, a cryptocurrency that was given away for free to all owners of a Bored Ape NFT via “airdrop,” has given the line of NFTs with amused profile pictures a new life.

What separates a bored ape from other NFTs?

The best-selling BAYC series of NFTs is owned by Yuga Labs. ​​There are 10,000 original Bored Ape NFTs, each with a distinctive combination of traits, including;

  • Background
  • Clothes
  • Earring
  • Eyes
  • Fur
  • Hat
  • Mouth

Each ape has a value based on the number of other apes with matching properties. For example, only 48 apes have a dagger in their mouths, making Bored Ape #7495 one of the collection’s rarest NFTs.

Apes on the blockchain

However, the Bored Apes’ fundamental value is derived from the blockchain technology upon which they are built. The apes are non-fungible tokens, which meaning each belongs to a particular person or organization. The owner of each ape is recorded on the blockchain, a digital and public ledger that shows who owns each NFT. The blockchain is updated with a new entry each time the NFT is bought, sold, or transferred, updating the ownership information.

Prices of Bored Apes have reached six figures thanks to a mix of NFT technology, attractive artwork, and substantial hype. Some Bored Apes have even been sold for millions. With the release of the more recent series, Mutant Ape Yacht Club, in August of 2021, Yuga Labs has expanded on the success of the initial collection, Bored Ape Yacht Club.

For many, owning a Bored Ape is the pinnacle of NFT coolness. The NFT can grant you access to events, a private Discord server with some famous users, and benefits like free NFTs or tokens. With a Twitter Blue subscription, owners of Bored Apes can also display their NFT as their Twitter profile picture.