Tips
- Bored Ape Yacht Club is the world’s best-selling blue-chip NFT collection on OpenSea
- The BAYC was first launched in the Spring of 2021 with .08 ETH per ape NFT, which was around $190
- BAYC’s Otherside is the Metaverse platform for Bored Ape, Mutant Ape, and other Yuga Labs’ NFT holders
Why is there so much hype over Bored Apes? Why does every NFT collector or enthusiast wants to collect this avatar? How did this small project turn into a billion-dollar ecosystem? NFTStudio24 Rarity Ranking shows how valuable this NFT collection is. Here’s a complete guide to Bored Ape NFTs:
By redefining digital art, NFTs, and PFP avatars, Bored Ape NFTs are the most successful NFT collections after CryptoPunks. With a perfect team, a defined roadmap, and interactive NFTs, Bored Ape Yacht Club is a must-have for anyone who is interested in digital assets and investment.
When NFTs weren’t known to the world, Bored Ape emerged and the hype over these digital collectibles skyrocketed around the world. Many people believe that the popularity of Bored Ape NFTs is due to celebrities buying one such as Jimmy Fallon, Serena Williams, Eminem, Snoop Dogg, Paris Hilton, and many more.
But the popularity of the BAYC NFT is all thanks to its team’s clever planning, marketing strategy, and the unique idea that now almost every marketplace is adopting, i.e., the Apes as the first generation of NFTs in any NFT platform.
What is the Bored Ape Yacht Club NFT Collection?
Bored Ape Yacht Club or BAYC is an Ethereum-based collection of 10,000 NFTs featuring Ape-like computer-generated PFP avatars, each having a unique set of over 170 traits, facial expressions, accessories, furs, and outfits that makes it different from another.
Generative art has always existed; in fact, CryptoPunks was also produced in the form of generative art, but with Bored Ape NFTs, this type of NFT collection became a popular digital asset for investment.
The NFT collection was launched in 2021 for the first time and earned $2M. After that, the collection slowly rose in demand on the OpenSea marketplace with celebrities and famous figures buying and making it their Web3 identity avatar.
Now, BAYC’s trading volume is worth $1.13 billion, becoming the best-selling NFT collection on the trading marketplace.
Benefits & Utility
Bored Ape NFTs revolutionized the way NFT collections should be by adding utility. One of the biggest reasons why BAYC is a successful project is its utility and benefits to the holders.
Every person who buys a Bored Ape receives exclusive access to a private Discord community, the Yacht Club membership card, access to THE BATHROOM (a collaborative graffiti board), and member-only benefits like access to IRL events, free mints and airdrops, VIP mints, merchandise, and so much more. Those who bought from the secondary market would get similar benefits as well.
The price of your NFT also doubles with time, which is also another utility of buying Bored Ape at any time.
This eventually led to an increase in demand for Bored Apes on OpenSea.
Bored Ape creators
Bored Ape Yacht Club was created by Yuga Labs which comprises four main founders, Gargamel, Gordon Goner, Sass, and Emperor Tomato Ketchup, and the CEO of Yuga Labs, Nicole Muniz who has been deeply involved in the development of this NFT project.
Gargamel and Gordon Goner are pseudonyms of Greg Solano and Wylie Aronow who have been involved with the crypto community since 2017 while Sass and Emperor Ketchup were relatively new to NFTs.
However, the original artwork wasn’t done by any of the team members instead the Bored Apes are the creations of many artists including a young Asian American artist, Seneca, who claims to have been under-acknowledged and under-compensated for her artwork.
There is an ongoing issue between artists and companies where artists are underpaid and not recognized for their work while the company profits from the same work. This debate was touched on in the NFT community as well since the intention of NFTs is about the ownership and rights of artists.
In response to Seneca’s argument, Yuga Labs’ founders claimed
“Every single artist of the original five were compensated over a million dollars each,” in an interview with Buzzfeed.
The artist refused to comment on it and the conflict has gone down a bit. Nonetheless, Seneca is working hard on her own artwork and building a strong career to be recognized for her original work.
Other artists for the Bored Ape artwork are Thomas Dagley, Migwashere, and an anonymous couple.
The Behind story of Bored Ape NFTs
Bored Ape initially began as a concept art on a bathroom wall inside an exclusive bar called Yacht Club where people who got “aped” into NFTs and crypto hang out while being bored.
These are basically Apes of the future living in luxury and bored of everything around them. The story began with a bar full of people to a perfect ecosystem and a metaverse all by draining the savings to hire artists and mint the project on Ethereum.
The Bored Ape Yacht Club was first launched in the Spring of 2021 with .08 ETH per ape NFT, which was around $190 at that time.
The collection didn’t gain much attention for weeks but when Pranksy, a famous NFT investor and influencer, bought several NFTs and showed them off on Twitter, the sales surged high and BAYC sold out within 12 hours.
This was a big achievement for the team who had risked almost every penny on this project. Within months, Bored Apes became the most circulating NFTs on the secondary market. Today, it is a billion-dollar business with its own metaverse.
Why are Bored Ape NFTs so expensive?
Many people who aren’t familiar with the background story always wonder why Bored Ape NFTs are so high priced. A collection that had a base price of $190 is now worth billions of dollars, each priced over $100,000.
The reason is quite simple, the Bored Ape community is filled with celebrities and rich investors, and it gives utility to every person who buys an NFT. From exclusive parties and performances from high-profile artists to hangouts and business opportunities, the BAYC has become a dream collection.
Other than that, BAYC offers a wide range of rare traits that makes them valuable digital collectibles. NFTStudio24 rarity ranking tool picks the rarest Bored Ape NFTs in the OpenSea marketplace as of now.
NFTStudio24 rarity ranking
NFTStudio24 Rarity Ranking is a system designed to pick out rarity traits using modern technological algorithms and properties to give a ranking score to NFTs in a generative art collection like the NFT collection.
It is an authentic tool that helps investors and collectors differentiate between valuable NFTs that will most likely profit you in the future.
The Bored Ape Yacht Club NFT collection is listed on NFTStudio24, ranked by the rarity tool as follows:
NFTStudio24’s no. 1 pick!
From the 10,000 NFTs, BoredApeYachtClub #2087 NFT ranks no. 1 based on the NFTStudio24 rarity ranking tool. The NFT is valued at 769 ETH ($1.3M) on OpenSea, and it features unique traits:
- Purple Background
- Angry Eyes
- Trippy Fur
- Bored Cigarette in Mouth
Trippy fur is one of the most valuable fur traits in NFT that features a psychedelic pattern that gives off the “trippy” feeling; therefore, every investor has Trippy fur Bored Ape on their wishlist. NFTStudio24 Rarity Ranking Tool picks out the best Bored Apes from that valuable NFT trait.
Top 4 Bored Ape NFTs by NFTStudio24
NFTStudio24 Rarity Ranking system ranks the top 4 Bored Ape NFTs based on their worthy characteristics. All of these NFTs are available on the secondary marketplace to bid for. Here is the ranking:
1. BoredApeYachtClub #3749 NFT
The BoredApeYachtClub #3749 ranks no. 2 on the NFTStudio24 ranking system for its features:
- Yellow Background
- Red Lazer Eyes
- Solid Gold Fur
- Sea Captain’s Hat
- Black T-shirt
- Small Grin Mouth
This NFT is currently priced at 740 ETH, which is around $1.2M on the OpenSea marketplace.
2. Bored Ape Yacht Club #8585 NFT
Based on the NFTStudio24 rarity ranking, BoredApeYachtClub #8585 ranks no. 3. This BAYC NFT has the following characteristics:
- Blue Background
- Hear Glasses Eyes
- Trippy Fur
- King’s Crown Hat
- Phoneme Vuh Mouth
BoredApeYachtClub #8585 NFT is priced at 696.969 ETH, around $1.2M on OpenSea.
3. BoredApeYachtClub #4580 NFT
The BoredApeYachtClub #4580 ranks no. 4 on NFTStudio24 featuring:
- Orange Background
- 3D Glasses Eyes
- Solid Gold Fur
- Biker Vest
- Seaman’s Hat
- Dumbfounded Mouth
This BAYC NFT is currently listed at the price of 666 WETH ($1.1M) on OpenSea.
4. BoredApeYachtClub #7090 NFT
NFTStudio24 ranks BoredApeYachtClub #7090 as no. 5 based on its rarity traits:
- New Punk Blue Background
- Heart Glasses Eyes
- Solid Gold Fur
- Service Clothes
- Grin Multicolored Mouth
This BAYC NFT price is 600 ETH ($1.04M) on the OpenSea marketplace.
Entering the Bored Ape Yacht Club community
Bored Ape Yacht Club is actually an online club of people around the world. When someone buys the NFT, they get exclusive access to a private Discord channel where all the team members, founders, and other NFT holders are present.
You can get a chance to socialize with those people, create opportunities, and even start your own project inspired by the Bored Ape Club. The idea of this project is not just to include people but also to motivate them into building their own brands, and many people have been successful in doing that.
Additionally, the BAYC Club members also get exclusive benefits to be part of those projects, making them more special. For example, Ape Editions dropped Eminem x Snoop Dogg Bored Ape exclusive merchandise and digital art prints only for BAYC holders.
In short, the BAYC community isn’t just a group of people on a social platform, it has developed into a kind of private club where creators, builders, or even common people can thrive and become something.
As of now, almost every Bored Ape NFT holder is doing something revolutionary in the NFT or Web3 space.
What is ApeCoin?
ApeCoin($APE) is the native cryptocurrency of Yuga Labs, Bored Ape Yacht Club, and its other NFT projects. Since Bored Ape is a proper ecosystem, ApeCoin expands the utility of NFTs by introducing a token listed on various exchanges.
$APE was airdropped to all BAYC NFT holders for free as a token to support
“culture, gaming, and commerce used to empower a decentralized community building at the forefront of web3.”
ApeCoin is also the governance token created by ApeCoinDAO, which would give members the right to vote for the decisions made in the community. These members are picked based on the amount of ApeCoin they own in their wallets.
Based on CoinMarketCap, ApeCoin has a market cap of $1,783,798,071, making it one of the most successful NFT-based crypto coins.
Bored Ape Yacht Club Roadmap
The Bored Ape NFT team has planned everything out since the beginning of the collection launch. The project has been actively following the roadmap that will eventually lead it to become a global Web3 brand in every industry.
BAYC has already completed all its goals from the roadmap, including the launch of Mutant Ape Yacht Club, Otherside metaverse, and ApeCoin.
Other BAYC projects
As mentioned before, Bored Ape Yacht Club is more than just an NFT collection, it is a proper project with its own ecosystem. Although Bored Ape was initially launched as an NFT collection to test the waters, its success motivated Yuga Labs to introduce many other projects linked to Bored Ape NFTs.
After Bored Ape, the Mutant Ape Yacht Club NFT collection is the most successful project featuring Mutant Ape NFTs, which gave more people the opportunity to own these expensive high-class digital collectibles and be part of the community.
Yuga Labs recently acquired CryptoPunks from its previous creators, Larva Labs, which is also expected to become part of the Bored Ape metaverse called the Otherside.
Otherside metaverse is one of the most successful projects by Bored Ape founders that links all Yuga Labs’ NFT projects and expands the utility of the NFTs from more than just PFP NFTs. Now, holders can use their Bored Ape NFTs as avatars to play, socialize, and monetize on Otherside, which will soon turn into an MMORPG.
Additionally, it has also partnered with The Sandbox to launch playable avatars on its metaverse platform.
The Trial of Jimmy, the Monkey
Yuga Labs announced the new chapter of Bored Ape lore called “The Trial of Jimmy, the Monkey“ on December 21, 2022. The short film reveals a monkey who accidentally gulps down the key to a treasure box. The monkey rushes to THE BATHROOM to squeeze it out of his system but the key gets stuck in his butthole, so now it s passed out in a locked washroom while the rest of the apes try to get inside.
The multi-week interactive mint for this collection began on January 18, 2023, and ended with Dookey Dash on February 8, 2023. See: mdvmm.xyz
Dookey Dash
Bored Ape creators revealed the first endless runner game “Dookey Dash“ exclusively for BAYC and MAYC holders to play as a continuation of Trial of Jimmy where the apes try to travel through the sewer to reach the bathroom.
The NFT owners got Sewer Pass to enjoy the gameplay and earn exciting rewards. The highest-ranking scorer in the game ultimately receives the Key and the other players get a “mysterious power source” which Gary the Dog Prophet will summon in late February.
Anyone is allowed to play as long as they have the Sewer Pass purchased from the secondary marketplace from a Bored Ape holder. The access to Dookey Dash and rewards closes on February 8, 2023. On Feb 15, only the eligible Sewer Passes connected to the wallets will participate in the Summoning.
Yuga Labs has yet to reveal more details of the upcoming power source; said to evolve in 2023.
Scandals
Recently, Bored Ape and Yuga Labs came under fire for allegedly promoting Nazi ideology through their project. A famous NFT influencer, Ryder Ripps, claimed that the team was a pro-Nazi NFT project.
The scandal went on for weeks as Ripps revealed the similarities of the logo with the Totenkopf logo used by Nazis. Furthermore, there were also claims of BAYC dropping on the day Hitler died.
In response to this, Yuga Labs’ founders wrote a proper Medium post denying every allegation with proper evidence and transparency, which received a lot of support from the NFT community and BAYC holders, so the scandal has died down. The team also sued Ryder Ripps and the case is currently in court.
Final words
- The team is actively expanding the BAYC NFT as a Web3 global brand by dropping new merchandise, collaborating with stars, and holding member-only events & social gatherings.
- Bored Ape NFTs have already peaked in popularity but the team believes they are still a long way in achieving its long-term goal.
- The consistency and innovation of this NFT project can be an ideal example for artists and companies that are looking for ways to make their grand breakthroughs in the NFT space!
- Until then, Bored Ape Yacht Club remains the best-selling, highest-charting NFT collection in the world.
For more information on the BAYC visit:
Website: boredapeyachtclub.com
Twitter: @BoredApeYC
NFTStudio24 collection: nftstudio24.com/collection/nfts-bored-ape-yacht-club-has-the-highest-valuable/
