The Bored Ape Yacht Club: What is It and How Was it Developed?
The Bored Ape Yacht Club (BAYC) is a collection of 10,000 profile picture type NFTs residing on the Ethereum blockchain. It was created by a smart contract that chose 170 traits to generate 10,000 unique cartoon apes. Only 69 apes have “laser eyes.” BAYC is hugely popular because it has a close-knit community and consistently generates new content.
How Was BAYC Developed?
The Bored Ape Yacht Club was launched on April 30, 2021; it was created by pseudonymous founders Gargamel, Emperor Tomato Ketchup, Gordon Goner, and No Sass. After its launch, all 10,000 apes were minted within 12 hours.
Since then, Yuga Labs, the company behind BAYC, has developed into a brand that includes NFT collections, cryptocurrency, and a metaverse project. In the seed funding round in March 2022, Yuga Labs secured funding of $450 million. Two other entities that operate BAYC are the ApeCoin decentralized autonomous organization (DAO) and the APE Foundation.
How Does BAYC Work?
Bored Ape Yacht Club comprises 10,000 unique Bored Ape NFTS; BAYC is built on the Ethereum blockchain. Each ape has a token ID, which is assigned to its artwork image. Through this NFT development, you can get access to members-only areas of the BAYC. Members-only access is only granted when token holders are signed in to their Metamask NFT wallet, where Bored Apes are stored.
Connections
Thanks to its connections, BAYC has inked many partnership agreements and gained attention with celebrity endorsements. Eminem, Paris Hilton, Shaq, and Jimmy Fallen are a few of the many famous people who own Bored Apes. NBA superstar Steph Curry bought BAYC NFT for $180,000 and made it his profile picture on Twitter.
BAYC partnered with Adidas for its “Into the Metaverse” NFT collection. BAYC has also collaborated with producer Timbaland for a music NFT partnership. It has also joined hands with a toy company Superplastic for producing vinyl figurines.
It is notable that many celebrities avail of NFT Token Development services to make unique NFTs of their choice.
Is BAYC a Good Investment?
The argument offered to buy Bored Ape Yacht Club NFTs is that there are only 10,000 of them and with scarcity, prices skyrocket. If you buy one, you have to rely on someone who is willing to pay more to buy from you, given its popularity, it’s not a hard thing. If you want to build your own NFTs, you can get in touch with an NFT token development company.
People love to buy Bored Ape Yacht Club NFTs because owning a BAYC comes with perks and gives a sense of community. The exclusivity of the community is a big attraction for crypto enthusiasts. There are exclusive members-only events, which adds to the appeal of BAYC.
In addition to that, users are entitled to the image of the Ape they buy, and they can use their apes to build products around.
To sum up, the Bored Ape Yacht Club is a collection of 10,000 NFTs depicting stylized apes. They are hugely popular and big celebrities have bought BAYC NFTs, and they have made NFT Token Development more attractive.
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