Bored Ape Yacht Club: History, creators, floor price & celebrity owners
The Bored Ape Yacht Club (BAYC) has been making waves (pun intended) in the cryptosphere since its launch back in Q2 of 2018. BAYC is a decentralized, non-fungible token (NFT) that allows users to own and operate their very own yacht club.
In this article, we will explore the history of BAYC, its creators, and what you can expect from this unique NFT. We will also take a look at the current floor price for BAYC tokens and some of the celebrity owners who have already jumped on board!
What is the Bored Ape Yacht Club?
BAYC is a decentralized, non-fungible token (NFT) that allows users to own and operate their very own yacht club. BAYC was created by a team of developers who saw the potential for NFTs to disrupt the traditional yacht club industry.
BAYC is built on the Ethereum blockchain and uses smart contracts to facilitate transactions between users.
The ApeCoin ($APE) is the native currency of the BAYC ecosystem and is used to purchase yacht club memberships, book yacht charters, and pay for other services within the BAYC ecosystem. BAYC tokens can also be traded on secondary markets such as OpenSea.
The BAYC Collection
NFTs fall into one of two categories. A “1/1” is a work of art that stands on its own. There is only one of them in existence, which is similar to paintings in real life.
Other “editions,” such as the Bored Apes, are a little more unique. These collections, which are more akin to a set of collectable trading cards, may include any number of NFTs.
Generative art, a method in which fresh variants are created by a computer program, is often used to produce massive editions. Creators start with a basic design and then build off of it by combining and matching other characteristics. Each feature is graded in terms of rarity, which means that certain qualities appear more often than others.
This was the method used to create the many variations of Bored Apes. 10,000 NFTs were produced for the BAYC collection.
Many different varieties of fur may be found in BAYC NFT’s collection, as well as various facial expressions and clothes. For example, the Bored Apes collection features 49 daggers in the Apes’ mouths, 108 Apes with cybernetic eyes, and 115 with cross earrings.
The BAYC Community
You’ve undoubtedly figured out by now that BAYC is much more than a collection of NFTs. And you’re correct, too. There is an actual club called the Bored Ape Yacht Club.
The only way to join this “exclusive” group is to buy a Bored Ape from a secondary seller.
The club’s members will tell you that purchasing a Bored Ape NFT on the floor (the lowest amount of money you may pay to acquire an NFT) is always worth the money, since the benefits of joining the club exceed the cost in ETH.
Who created the Bored Ape Yacht Club?
BAYC was created by a team of developers named Yuga Labs. Yuga Labs is a blockchain development studio based in Miami, Florida. The team behind BAYC has a wealth of experience in the traditional yacht club industry and saw the potential for NFTs to disrupt this industry.
What is the floor price for BAYC tokens?
The current floor price for BAYC tokens, called ApeCoin ($APE), is $17.90, which was set by the BAYC team. This price is subject to change based on market conditions.
Who are some of the celebrity owners of BAYC tokens?
Several well-known figures have jumped on board the BAYC boat. These celebrity owners include:
– DJ Khaled: American record producer, radio personality, DJ, and record label executive
– Floyd Mayweather: American professional boxer
– Paris Hilton: American socialite, television personality, model, actress, singer, and businesswoman
What’s next for the Bored Ape Yacht Club?
Bored Ape is a lively, high-spirited group with a long-term goal of providing its members with the most useful tools and resources possible. “What’s next?” is a common question in the NFT sector since things change so quickly.
A number of Bored Ape owners have made money by selling their NFTs. And we’re talking about a substantial, life-altering sum of money. For example, in October 2021, Ape #8817, the most expensive BAYC NFT ever sold, fetched $3,408,000 in a Sotheby’s Metaverse auction.
This most lucrative of Apes sports a wool turtleneck, a rainbow spinning hat, and silver hoop earrings. And if you think the price fetched for this Ape was high, then you should know that Bored Apes are expected to sell for even more in the coming months!
There is also a lot of money to be made by the corporation. Silicon Valley investor Andreessen Horowitz led a $450 million investment round for Yuga Labs in March 2022, and they have big plans for all of that extra cash.
The team plans to use the funds to develop a new virtual environment called “Otherside.” It is expected that Otherside will be a MMORPG (Massively Multiplayer Online Role-Playing Game) in which players can buy and sell virtual land as NFTs, with ApeCoin as the in-game currency.
Further into the future, Yuga Labs intends to grow into additional items, events and so on. That means they’re well on their way to establishing a media empire focused on NFTs.
What’s more, with Yuga Labs’ recent acquisition of Meebits and CyrptoPunks, we can expect to see further development of these two valuable NFT brands. We’ll see if they live up to the examples they established in terms of community attention in the beginning.
The Bored Ape Yacht Club is certainly one of the most interesting NFT projects we have seen so far.
The phenomenal success of this unique collection of colorful primates demonstrates the great potential of the growing NFT market. And with Yuga Labs’ ambitious plans for this brand, it will be exciting to see what new directions BAYC takes in the future.
Chat with the expert NFT promoters and marketers at Mooning
Sure, all the examples of NFT promotions we listed are from global brands with endless coin to throw at their campaigns. But you really don’t need a crazy-high budget to see some seriously incredible outcomes – as long as you know the delicate intricacies of building a killer NFT marketing strategy!
If not, no worries – Mooning is here to take care of everything for you and make sure you see the most amazing ROI you’ve ever seen before. Our team has the knowledge and experience to promote your NFTs in order to deliver maximum awareness and interest, driving the sales prices up sky-high and beyond.
We provide a full suite of expert NFT marketing services and go above and beyond for every one of our clients to ensure only the best results. Our team will help with everything from minting, listing and selling, NFT creator sourcing, community management and campaign conceptualisation.
So get in touch with us now on 1300 818 435 or message us online.