Since the inception of the NFT market’s hype, Bored Ape Yacht Club has been the most successful project ever. In a span of just seven months, it has surpassed $1 billion in trading volume. Which is a huge number.
Bored Ape Yacht Club is a unique collection of non-fungible tokens that include art pieces of popping colors and themes. The illustration images are of aesthetically drawn Apes with bored faces and iconic styling.
You also be surprised to know that it has 10,000 unique NFT Projects available in its diverse domain.
Whereas the cost of individual apes is continuously soaring with the increasing competition between the owners and collectors.
Creation of the Grand Bored Ape Yacht Club:
Bored Ape Yacht Club was formed by a group of friends in April 2021 — named Steph Curry, Jimmy Fallon, and Post Malone are the masters behind the grand art kingdom of Bored Ape Yacht Club.
The Non-identical Bored Ape Yacht Club NFTs
The apes of the club are unique from each other with a diverse range of distinct variations. These variations are traits that are about 170 in number. Traits include clothing, headwear, expression, colors, background, fur characteristics, etc.
However, all of the projects in this diverse collection stand out with their rarity and uniqueness. As these NFTs or Apes are available on OpenSea for Trading.
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Determination of Value:
So, their value is determined by the distinct traits they own or how rare their number is. If you see a bored Ape with Solid gold fur, you are viewing one of the most costly projects.
There are just 46 Apes out of a huge collection of 10,000, which have the said trait! That is “Solid Gold”.
Two things that determine whether BAYC prices will be higher or lower are:
- The price of an NFT project on Bored Ape Yacht club
2. How common are the traits of an Ape
Currently, the price of a common Ape is around ETH52 and some rare traits of Apes are being sold at even higher prices.
Let’s take the example of the famous “Solid Gold” fur trait. They are reported to sell at a record-breaking price of ETH333 ($1.36 million) whereas some rare combination traits have also reached a net selling work of $3 million.
Hence, it is rightly suggested that this is ranking on the top with continuously soaring revenue!
Strategies:
Remember, there are three influential factors behind this success ratio: Celebrity advertisements, effective community engagement, and services offered to members.
The most obvious example of the first strategy is the innovative move by Jimmy Fallon. Where he has put his official Twitter profile picture of the Bored Ape Yacht Club NFTs for a long duration. This has brought them hype at a higher level than before.
While the services offered to the members of the Bored Ape Yacht Club are phenomenal. The list is getting longer. It has allowed members to play earning games and cross-exchange cryptocurrency benefits.
It also has provided the opportunity to mutate the existing apes with mutant serum and dog NFT traits. And, it has brought forth another wave of a rarity among their NFTs.
The mutant Ape generation is called the Bored Ape Mutant club. Whereas the one with dog NFT holds the identity of the Bored Ape Kennel Club.
Community development is another key strategy used by them. It has successfully launched physical meetups in New York, Hong Kong, and the UK.
The Bathroom Bored Ape Yacht Club | Roadmap Activations
The Bathroom is a digital or experimental canvas provided by the Bored Ape Yacht Club. It is for exclusive members-only who have at least one Ape in their NFT wallet. This space is launched to give users creative freedom along with trading.
Roadmap Activations is similar to roadmap guidance where there are pre-set destinations.
Read More
Need Help?
You now have an idea of how Bored Ape Yacht Club works and it’s a complex and vast NFT collection. If you are a newbie you might find it difficult to choose the right Ape Project that makes you profit in the long run.
That’s where NFT Studio24 brings you up with the most highly ranked and least Volatile Ape NFTs. You can also check out the latest NFT collections from various artists and upcoming NFT projects that can help you stay in the loop of what’s happening in the NFT world.
So, you’re good to go with the project you’ve decided for yourself!
