A Beginners Guide to: Bored Ape Yacht Club

What are NFTs?

Non-Fungible Token is an acronym for non-fungible token. A “fungible” item is one that may be exchanged for another of the same value, such as a $5 bill for another $5 bill. NFTs are digital assets that may be bought and sold through blockchain technology. They aren’t fungible, though, hence they’re a separate kind of asset.

In 2021, NFT avatars were popular, with individual photographs fetching up to millions of dollars and being shared on social media, resulting in billions of dollars in collective trading activity.

CryptoPunks was one of the first Ethereum NFTs, having launched in 2017—long before anyone outside of the crypto community was aware of or interested in provably scarce digital collectibles. Among the more recent crop of CryptoPunk-inspired companies, none sticks out more than BAYC (Bored Ape Yacht Club).

According to data from CryptoSlam, Bored Ape NFTs have now generated more over $750 million in trading volume, including the following variant sets. Athletes, musicians, and others are rapidly adopting them as their preferred Twitter NFT avatar. When you buy a Bored Ape Yacht Club NFT, you gain access to the titular “club,” which comes with its own set of benefits.

Considering buying one to “be a part of this movement”? What you need to know about the Bored Ape Yacht Club, Mutant Ape Yacht Club, and Bored Ape Kennel Club, as well as how to purchase them, is outlined below.

What is the Bored Ape Yacht Club?

Yuga Labs, situated in the United States, is the creator of the Bored Ape Yacht Club. A collection of 10,000 unique “Bored Apes” serves as the foundation. The following are the pseudonyms used by the founders of the Bored Ape Yacht Club:

Gargamel
Gordon Goner
Emperor Tomato Ketchup
No Sass
They do supply a smart contract address that has been validated. On the website, you can also track the provenance, which includes a hash string. The Bored Apes are NFTs with a variety of traits. Some of the apes, for example, have gold fur or laser eyes. Some features are more rare than others, resulting in more expensive NFTs.

The Bored Ape NFTs are based on the Ethereum blockchain and are available for purchase on the OpenSea NFT market. Initially, all of the Bored Apes were available on a first-come, first-served basis and were priced the same. However, they were all grabbed immediately, and you can now only get them on the secondary market.

What makes them so unique?

You not only own a digital asset when you own a Bored Ape NFT, but your token also serves as a “ticket” to the Yacht Club. The Bathroom, a members-only area, is where you can leave digital graffiti. There are also said to be other benefits associated with membership.

The Bored Ape Yacht Club bills itself as an exclusive society or social organization, and only those with one of the coveted NFTs are eligible to join. It allows users to join a secret Discord server, where other owners, including celebrities, may hang around and communicate. Apes appear to have created a virtual fraternity on social media, where the more recognized avatars have formed a virtual brotherhood.

More significantly, possessing a Bored Ape NFT grants you access to more NFT items, which you can then resell for potentially large sums of money. Yuga Labs first gave away free Bored Ape Kennel Club dog NFTs to Bored Ape owners, and then later gave them free “mutant serum” NFTs with a Mutant Ape Yacht Club image. It’s almost like paying a one-time charge for an ongoing NFT and perks subscription plan.

Where can I get bored apes?
NFTs from the Bored Ape Yacht Club are available on secondary markets like as OpenSea. To buy an NFT from the Bored Ape Yacht Club, Bored Ape Kennel Club, or Mutant Ape Yacht Club on OpenSea, go to the project page for each and go through the full collection.

Some items may be advertised for sale at a set price, while others may be auctioned. To buy an NFT on the site, you’ll need an Ethereum wallet like MetaMask, as well as enough ETH to cover both the purchase price and the Ethereum gas transaction charge.

The features listed on OpenSea include information such as the rarity of a trait. You may also check how much it sold for previously. Understanding these elements is critical if you want to make an informed decision. After all, you’ll be spending a lot of money, so you’ll want to think things over thoroughly before making a decision. If a buy now option is available, it can be used to pay a set price. However, you may be required to bid in some circumstances, much like you would on eBay or another auction site.

The near future

The Bored Ape Yacht Club is the second-most-popular profile image NFT collection behind CryptoPunks in terms of trade volume at the time of publication—and they’ve only been active since April 2021.
We’ve gradually observed more and more well-known people adopting Bored Ape Yacht Club NFTs as their online personas. Stephen Curry, a three-time NBA champion, purchased one in August 2021 for $180,000 in Ethereum, joining a list of athletes that includes NBA stars Josh Hart and Tyrese Haliburton, as well as NFL players Dez Bryant and Von Miller. Apes is also owned by musicians such as The Chainsmokers, Waka Flocka Flame, and Jermaine Dupri.

Arizona Iced Tea even purchased an NFT from the Bored Ape Yacht Club and used it in their marketing materials. Yuga Labs, on the other hand, informed Decrypt that while the drink company can use the image of the NFT it owns, it cannot use the official Bored Apes logo.

Yuga Labs also released 10,000 new Mutant Apes for 3 ETH each, in addition to offering existing Bored Ape owners a “mutant serum” to mint a free Mutant Ape NFT. In late August 2021, the entire collection sold out in less than an hour, netting $96 million.