Bored Ape Yacht Club is a digital art platform
Bored Ape Yacht Club is a project that sells a limited collection of NFT on its pages. The authors of the project position it as a closed club.
The Bored Ape Yacht Club was launched in late April by a team of four developers under the pseudonyms Gargamel, Gordon Goner, Emperor Tomato Ketchup and No Sass. It took 12 hours for all 10,000 to be sold out at 0.08 Ether, or about $ 190. The price of digital art rose steadily from April to July before skyrocketing in August 2021.
The Bored Monkey Yacht Club has done a few things to keep owners interested. First, he created the Bored Monkey Kennel Club, offering owners the option to “adopt” an NFT dog with traits that mimic those of the Bored Monkeys. In August, another interesting option appeared: digital vials of mutant serum. Owners could mix their Bored Monkey with serum to create another NFT character. Both the Kennel Club and the Mutant Monkey NFT are on sale at a very high price, with minimum bids of around $ 26,000.
What is the essence of the project
Bored Ape Yacht Club is a collection of 10,000 unique NFT Bored Ape – unique digital collectibles that exist on the Ethereum blockchain. In order to join the community, an investor must purchase at least one NFT Bored Ape. The NFT serves as a membership card for the club and gives access to benefits only to members of the community.
Minimum price for NFT Bored Ape Yacht Club: 200 884.22 rubles;
Total number of NFTs issued: 10,000;
Number of unique NFT owners: 5,918;
Total market capitalization of NFT: 2,008,842,193.38 rubles.
Platform website is implemented as an auction. Users place bets on certain digital art items in the NFT. The cost of objects starts from 50ETH. During the existence of the project, a record was set – 10,000 tokens for one digital object.
Monkey owners envy those who own and trade the NFT art, but embarrassment and suspicion among those who do not. Some of his success is in the arts, but most of it is not.
Firstly, there are one-off works of art that are marketed as NFT, just like paintings in real life. Think of the NFT Beeples, which were sold at Christie’s for $ 69 million. Second, you have NFT collections, or “designs” such as the Bored Monkey Yacht Club. Like Pokémon cards, they take a template and create hundreds or thousands of variations, each ranked by rarity. In the case of BAYC, there are 10,000 monkeys, each of which has different “properties” – different types of clothing, facial expressions, clothing, accessories, and more.
Depending on the characteristics of a particular monkey, the final cost of the object fluctuates.