Bored Apes NFTs

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What do Eminem, Justin Bieber, Shaquille O'Neal, Stephen Curry, and Serena Williams all have in common? Each celebrity has 10,000 non-fungible tokens (NFTs) of the most popular digital collection in the world, the Bored Ape Yacht Club (BAYC).

There are NFTs on the blockchain. They are the first way to prove ownership rights for digital goods and are accepted by everyone. They are becoming more popular in the music, real estate, and other fields because they can be programmed.

In what comes next, we'll talk about the BAYC NFT collection, how much it's worth, and why private collectors and businesses are willing to pay millions of dollars for these digital photos.

What does it mean when someone says "bored ape yacht club"?

The Bored Ape Yacht Club, or BAYC, is the biggest NFT avatar in terms of market capitalization.

The 10,000 unique NFTs in the BAYC collection were made using an algorithm that took into account more than 172 attributes, each of which affects how rare an ape is. Only 26 of them have mouths that say "Bored Unshaven Pizza," 49 have blue beams, 46 have full gold fur, 69 have laser eyes, and 49 have blue beams. The NFT is worth more if the traits in a picture of an ape aren't seen very often. Based on the information we have, as of March 2022, BAYC trades on the OpenSea platform were worth more than 466,000 ETH (US$1.4 billion).

The BAYC series stands out because it is useful and is often used as profile pictures on social media sites. The NFTs show that a person is a member of the Bored Ape Yacht Organization, which is a virtual club that gives its members certain benefits. Members can use THE BATHROOM, a collaborative graffiti board. For example, only MetaMask wallets with Bored Apes can use THE BATHROOM. As the BAYC program grows, more incentives will be given to members.

The Bored Ape project was started by Gargamel, Gordon Goner, Emperor Tomato Ketchup, and No Sass, who are all made up. The collection is kept on IPFS and can be accessed using ERC-721 tokens on the Ethereum network.

What does this mean for BAYC NFTs?

The BAYC collection gives members access to a private merchandise shop, a private Discord server, and the Yacht Club. People who have a BAYC can use a number of NFTs, like joining the Bored Ape Kennel Club for free. Yuga Labs gave golfers at BAYC a free mutant serum, which led to the creation of an NFT for Bored Ape owners called Mutant Ape Yacht Club (MAYC). MAYC and BAYC holders have recently received ApeCoin airdrops. In some ways, having a BAYC is like signing up for new NFTs and assets all the time.

Another thing to think about is how appealing it is to the community. The people who own BAYCs have put their NFTs as their profile pictures on social media.

Yehudah Petscher, the strategist for CryptoSlam, says that the BAYC collection can be told apart from others because it has gotten so much attention. Petscher says that this is what makes BAYC work so well. The author says, "They show a time when NFTs were just starting to become important to a lot of people, and having one is like having a piece of that time."

People see these NFTs as status symbols because they cost a lot to own. This is the third thing that makes them so valuable. When the global Covid-19 pandemic made more people use digital devices, NFTs became important measures of how well off a person is.

What do I need to do to get an NFT Bored Ape?

In April 2021, Bored Ape NFTs were sold for the first time to the public for 0.08 ETH, and all of them were bought in less than 12 hours. At the moment, images are traded on non-financial platforms like OpenSea. The BAYC collection is easy to look through, but the prices are high.

To use Bored Ape, users will need an Ethereum wallet like MetaMask. On NFT platforms, people who want to buy something can choose between auctions and ads with a set price.

How does the Bored Ape Yacht Club plan to move forward?

Many people think that BAYC goes beyond blockchain. In December, BAYC and Animoca Brands said they would work together to make a "play-to-earn" game. The "Mysterious Note" is another mysterious note. It starts the search for 5 ETH and a Bored Ape NFT.

In January, the members-only smartphone game BAYC x MAYC came out. This started a 10-day competition in which the top 1,000 players will get BAYC items. A lot of attention was paid to BAYC and Ape Fest 2022 because of the competition. Ape Fest 2022 is a four-day event that starts on June 20 in Manhattan and is only for BAYC cardholders. The date of the event was changed recently so that it would happen at the same time as NFT.NYC, an NFT event with about 5,500 attendees.