For the folks who don’t know about Bored Ape Yacht Club or BAYC, it is a collection of 10,000 animated pics of apes with disreputable expressions and stylish everyday clothing. Practically such images should be worthless but in reality, these are worthy of astonishing price rates.
This is due to their endorsement from celebrities such as Jimmy Fallon, who bought one of these Bored Ape images for $220,000. the highlight of that image is the ape was wearing a striped T-shirt and heart-shaped shades. Another celebrity who spent thousands on this same mainstream hit is, rapper Eminem. The rapper paid $462,000 for an ape that resembled him in the image.
On the other hand, the rarest version of Bored Apes had a gold fur trait. This rare picture solely collected $3.4 million in an online auction organized by Sotheby’s. “The Gold Fur Trait” ape broke the record of another rare ape with laser eyes. The laser eyes ape picture sold for $2.9 million to The Sandbox.
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The BAYC Factor
As we saw the emerging hype of NFTs in 2021, The BAYC collection is also part of the same NFT hype. They have such worth among NFT collectors because of their rare nature among so many other NFTs. Along with being extremely rare, Bored Ape offers something else as well for which people pay a lot.
People own a unique avatar when they get their rare Bored Apes but on top of this, people also get the privilege to be a part of an exclusive membership club, which is completely imposed with tokens.
This gives them an entrance path to their very own desired circle of elites. Being in the circle of elites has its pros, such as having high status and profitable opportunities, and most importantly high PR possibilities.
The people of Wall Street value such important opportunities. And with Bored Ape Collectables people are joining a lot of celebrity clubs. These Bored Ape Collectables allow their owners to have the access to private messaging boards on Discord and privileged access to other rare NFTs.
The Meta Support
With the launch of Meta, the world will be entering a new phase of technology. A new path of communication and business for all.
In such an environment, NFTs will become an important element of the metaverse. Users will have unique digital avatars that will enable them to communicate digitally on different platforms globally.
Wall Street and the Saga of NFTs and Apes
BAYC’s trend is taking everyone by storm and has crossed the $1-billion-mark in sales. This fetching happened due to the ongoing boom in the NFT sector with sales reaching $41 billion in worth. This shows digital art’s impact on the world and how the world has started accepting it.
On the other hand, Wall Street too started showing its interest in NFTs. Many people associated with Wall Street seek exposure in the NFT space. Seeing this Bitwise launched a dedicated fund, aiming to track Bitwise Blue-Chip NFT Collections Index.