NFTs or non-fungible tokens have created a massive community over the years. Loads of people have decided to invest in these tokens, whether to gain profit or just as a matter of status. Moreover, they have helped thousands of artists to regain control over their pieces and sell them for a price that seems fair.
However, as time passed, certain groups have been formed within the NFT community, and one of the most famous ones revolves around the Bored Ape collection.
In this article, you’re going to find all the relevant information about the Bored Ape Yacht Club and how to be a part of it. Keep reading and find out more.
What Is the Bored Ape Yacht Club?
The BAYC started as a simple NFT collection, but the masses rapidly went crazy over it. This gallery consists of 10,000 uninterested-looking illustrations of apes with randomly generated features.
When it was first released, each image was worth 0.8 ETH, which is around $190, but now the base price is approximately $288,000. This explains why the only people you’re going to see with one of these monkeys are celebrities of those early adopters that were fast enough and saw potential on this gallery when it was still in its early stages.
These monkeys vary in rarity depending on the features they display. A feature is rare if it ranks lower than one percent on the rarity scale, making it much more valuable and expensive.
BAYC’s History
The BAYC was originally created by Yuga Labs, a developer group integrated by four creators who originally had unknown identities but recently revealed their names and faces in a Buzzfeed article.
However, when you buy one of these NFTs, you don’t only get to have a cool profile picture, but you also become part of an exclusive worldwide community that grants access to several perks of the crypto world.
Some of these perks are access to exclusive NFTs, discounts, or participating in community events like some conventions that have been held in Los Angeles and New York.
Why Is It So Valuable?
Being part of the BAYC has become a matter of status within certain social circles. However, the real value of these NFTs can be divided into three broad categories.
● Many celebrities and influencers have been joining the community, which turned it into a guarantee of your social status within highly popular circles
● The community is solid and supportive, which is fantastic for keeping its members engaged and giving them a sense of belonging
● This club offers several utilities to its members, which makes being a part of it a long-term investment if they wish to continue in the NFT world
The Future of BAYC
It is speculated that the Bored Ape Yacht Club desires to expand and become an off-chain brand by integrating its designs to pieces of fashion and even mobile games. Furthermore, it has gone as far as creating a collaboration with Adidas, and some monkeys have even become internet famous on their own.
Bottom Line
The Bored Ape Yacht Club has received many mixed opinions throughout the years, but the truth is that it seems to only keep gaining popularity, especially among celebrities. However, if you have the money and wish to become a part of it, you’re more than welcome to do it.
If this article seemed interesting to you, we encourage you to share it with your friends and check out bitiq.org/fr/, the best trading platform to learn more about diving into the crypto and NFT world.
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