New products have emerged in recent times, thanks to the adoption of the cryptocurrency ecosystem and blockchain technology, one of which is Non-Fungible Tokens (NFTs).
What Is the Bored Ape Yacht Club (BAYC)?
The Bored Ape Yacht Club (BAYC) is an NFT collection built on the Ethereum blockchain. This collection consists of profile pictures of cartoon apes, procedurally generated by an algorithm. There are a total of 10,000 NFTs in the collection, each with unique features. The BAYC was launched by Yuga Labs on April 30, 2021.
The Bored Ape Yacht Club Team
The Bored Ape Yacht Club (BAYC) NFT collection was created by Yuga Labs, the parent company of the BAYC. Yuga Labs aimed to develop a new product entirely based on NFT. The Bored Ape Yacht Club is a platform built by anonymous individuals using the pseudonyms Gargamel, Gordon Goner, Emperor Tomato Ketchup, and No Sass. They initially saw it as a joke and wanted to have fun together and test their creative skills. The BAYC later found its way into the mainstream and gained popularity in a way that no NFT collection had before.
What Do the Bored Ape Yacht Club (BAYC) NFTs Look Like and What Are Their Features?
Each NFT in the BAYC collection has its own unique expression, outfit, and accessories. Like any other NFTs in the Ethereum network, the BAYC is generated in the ERC-721 standard. Each BAYC NFT is unique, rare, and impossible to replicate. This is a fundamental part of the inherent value of NFTs.
While there are many animal-themed NFT avatar projects, none have yet come close to the success and impact of the BAYC. So, what makes the BAYC NFT collection so successful? The founders' answer to this question is that the community is deeply committed to the BAYC collection.
Who Has Purchased the Bored Ape Yacht Club (BAYC) NFTs?
The Bored Ape Yacht Club (BAYC) has made a significant impact on celebrities and brands thanks to its popularity and influence. Snoop Dogg, Madonna, Eminem, Justin Bieber, Steve Aoki, Post Malone, Paris Hilton, Jimmy Fallon, Gary Vaynerchuk, Steph Curry, Josh Hart, MeUndies, and Adidas are some of the famous members of the BAYC. Christie’s and Sotheby’s are two famous auction houses that have hosted several BAYC NFT sales.
What Is the Bored Ape Kennel Club (BAKC)?
The BAYC first launched the Bored Ape Kennel Club (BAKC). Initially, the BAKC was not available for direct purchases. Each BAYC owner received a dog-themed BAKC NFT via Airdrop.
What Is the Mutant Ape Yacht Club (MAYC)?
The Mutant Ape Yacht Club (MAYC) NFTs were released on August 28, 2021. Similar to the original BAYC, the MAYC is a mutant-themed ape avatar collection with a maximum of 20,000 NFTs. The holders of the original 10,000 BAYC NFTs received via Airdrop random vials of mutant serum of different tiers. These tiers are M1, M2, and M3 (Mega Mutant). With this serum, they could transform their ape avatar NFTs into mutant ape avatar NFTs. There are a total of 7,500 M1, 2,492 M2, and 8 M3 mutant ape serums. Mutants created with M1 and M2 serums retain their original ape features and have new modifications. However, mutants created with M3 serums have different features. This is the third NFT collection by Yuga Labs, the creators of the BAYC, after the BAYC and BAKC NFT collections. Although this is the third NFT collection, it was included in the BAYC’s roadmap 1.0 and is considered the final tier of the BAYC membership.
ApeCoin (APE) and the Bored Ape Yacht Club (BAYC)
ApeCoin (APE) is an ERC-20 token on the Ethereum blockchain. ApeCoin was launched to be used in the evolving APE ecosystem supported by the APE Foundation. APE functions as the utility and governance token of the Bored Ape Yacht Club ecosystem. This is a project that was included in the cryptocurrency ecosystem on March 17, 2022.
The holders of BAYC and MAYC benefited from the ApeCoin (APE) Airdrop on launch day. A larger share of ApeCoin (APE) was distributed to the NFT holders with a “BAYC-BAKC” or “MAYC-BAKC” pairing.
Benefits of the Bored Ape Yacht Club (BAYC)
- The Bored Ape Yacht Club (BAYC) NFTs are digital collectibles. So, you can own them and consider them as an investment. As an NFT, each ape avatar in the BAYC collection is unique and stored on the blockchain. This allows tracking and verification of ownership and origin.
- NFT owners can buy from other collectors or creators and then trade their NFTs.
- You can hold your BAYC NFTs as a method of investment.
- The BAYC has also created a virtual world where NFT owners can visit other apes and interact with them.