How to buy bored ape yacht club: Bored Ape Yacht Club NFTs Explained

The project quickly gained popularity and is one of the most popular NFT projects to date. The project combines aspects of community, exclusivity and social capital to create an enticing and prominent NFT project. But “community value” also extends to financial self interest. The higher the floor price on a collection, the more crypto-rich traders you can expect to be holders. These savvy investors trade information within locked Discord groups, providing valuable tips to one another. Sell your NFT and you’ll no longer be privvy to such tips.

You can also attach a hardware wallet to your MetaMask to make your trades efficient and safe. Learning How to store your NFTs is just as important as learning How to buy a Bored Ape NFT. Check out these 2 fantastic wallets for storing NFTs. However, the creators regularly engage with the community and any inklings of malicious intent are long gone.

When selling NFTs, their value is primarily based on their popularity. These NFTs serve as a digital identity and get you access to members-only areas of the Yacht Club. To access these areas, token holders must be signed into their Metamask NFT wallet where they’ve stored their Bored Ape. It sounds even more laughable when you remember that benefits like these have literally cost people hundreds of thousands of dollars. Much like Cryptopunks, Bored Ape Yacht Club NFTs are valuable because of their rarity and exclusivity. Only 10,000 are available and each acts as a golden ticket to additional club perks.

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Following the fame, the company released other assets, including mutant serum, mutant ape yacht club, bored ape kennel club, etc. These contributed to increasing the net worth of BAYC and increased the fan base of the Bored Ape Yacht Club. Previous investors and owners of BAYC received hefty rewards. The Bored Ape Yacht Club didn’t reach this level of fame through advertising, marketing, or social media promotion.

Needless to say, the event was an extravagant flex on the crypto world. Users were given vouchers for the NFTs and did not get to see the art initially. Because of this, the project did not receive much attention and did not sell out. However, when the art was given out and users saw their NFTs for the first time, the project quickly sold out.

BAYC’s trading volume on Oct. 14, 2022, according to NFT marketplace OpenSea, was 673,000 ETH. For many people, being part of an NFT collection is a symbol of social proof. For others, it means being part of a larger community that shares like-minded ideas. And, for some – it is the idea of collecting something available in limited quantity. All they can do is help you secure a membership in the ApeDAO, which plays a significant role in the governance of the ApeCoins.

That’s another key reason for the steady rise in its price since its launch. Following the partnership launch, BAYC uploaded an image of a Bored Ape wearing an Adidas jacket on Twitter. Gmoney tweeted a silhouette picture that displayed the Adidas logo. PUNKS Comic tweeted a picture of a character wearing a shirt bearing the Adidas logo. Other NFT collections that Yuga Labs started are Mutant Ape Yacht Club —a spinoff of BAYC—and Bored Ape Kennel Club. Both were trading at volumes of 457,000 ETH and 110,000 ETH, respectively, on OpenSea in mid-October 2022.

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One of the main reasons behind the community spread of these NFTs is the ownership rights that a person gets. These Bored Ape NFTs are an entry token to real-world private events and online clubhouses. Then, popular NFT trader Pranksy bought a lot of apes. From there, they decided that the club would be inhabited by the Apes of the future. Years from now, the apes find themselves bored, spending most of their time sitting around at a bar with their friends.

The ownership of an NFT is stored within the blockchain. Thus, we can conclude that a blockchain facilitates the sale and purchase of NFTs. These NFTs have a unique identity, and anyone can create these NFTs with little knowledge and skill.

It’s built on the Ethereum blockchain, and each ape is stored as an ERC-721 token. The token ID for each ape is assigned to its artwork image. Token holders can check the provenance record of their apes on the Bored Ape Yacht Club website.

To begin with, the team is working on a virtual world called “Otherside.” Otherside is ultimately the largest expansion of the Bored Ape NFT universe we’ve ever seen. The MMORPG (Massively Multiplayer Online Role-Playing Game) launched with a virtual land sale, and the team is currently working on building out the universe. You can learn more about the Otherside project and get the latest updates in our guide. For starters, numerous Bored Ape owners have had the opportunity to sell their apes for a profit.

Anotherwith gold fur and laser eyes, two sub-1% traits, went for $3 million. These properties are displayed on OpenSea, the main platform where NFTs are traded. On any given NFT’s page, its properties will be listed as well as the percentage of NFTs in the collection that share the property. For instance out of 10,000 apes only 46 have solid gold fur, making these particularly valuable. Pioneered by CryptoPunks in 2017, NFT collections are a little like Pokemon cards. You have a set amount — usually between 5,000 and 10, which all have the same template, but each has different attributes that make them unique.

Amanda Jackson has expertise in personal finance, investing, and social services. She is a library professional, transcriptionist, editor, and fact-checker. The Bored Ape has spread its arm and reached different arenas.

Jimmy Fallon and Paris Hilton are also BAYC holders, discussing their Apes in a Tonight SHow segment. Justin Bieber made headlines with his purchase of a $1.29 million Bored Ape Yacht Club NFT in February. The Ethereum Shanghai upgrade is designed to give ETH crypto token holders access to their staked assets, a major change for the network. CryptoPunks are non-fungible tokens that can sell for millions of dollars.

BAYC has attracted celebrity attention, with big names investing in and bringing attention to the project. Famous BAYC owners include billionaire entrepreneur Mark Cuban, artists Post Malone and Justin Bieber, and NBA stars Steph Curry and Shaquille O’Neal. If you want to see the full list, make sure to check out our post on celebrities who own BAYC NFTs. The art for BAYC is cartoonish apes with pronounced features and outlandish characteristics. Some think the art is childish, while others say it belongs in the Louvre.

If they proceed with this speed and aim, there will be a day when the Bored Ape Yacht Club will touch heights and become the most successful NFT club. To buy a Bored Ape token and be part of the exclusive club, visit a platform where the BAYC collection is listed, such as OpenSea. Connect a compatible Ethereum wallet to the marketplace. Once that’s done, search “Bored Ape Yacht Club,” filter out the ape of your choice, and place an order.

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As a bonus, these community initiatives have donated millions to various charities. The Mutant Ape Yacht Club was also originally a member exclusive NFT collection that opened up to the public after a waiting period. At this point, you’ve probably guessed that there’s a lot more to BAYC than just NFTs.

How Much Does a Bored Ape Yacht Club NFT Cost?

Other characteristics of the #8817 token are the Silver Hoop Earrings and the Wool Turtleneck. A floor price refers to the minimum cost of an NFT within a collection. The dollar value of BAYC is subject to the price of Ether—if ETH rises, the value of the NFTs within this collection takes off.

Why are there 10,000 Bored Apes?

Once you finish purchasing, you may need a place where you store these Ethereum as well as your NFTs. Each NFT purchased has a considerable market value which makes these NFTs a huge investment. So, it looks like Yuga Labs is on the fast track to realizing their ambition of making a media empire centered around NFTs. With both Meebits and CyrptoPunks now owned by Yuga Labs, we’re excited to see what’s next.

Buying one is a massive financial commitment, and all you get out of it is a digital ape. One of the reasons Bored Apes took off in popularity is that they caught on with celebrities. Eminem, Shaquille O’Neal, Mark Cuban, Paris Hilton, and Jimmy Fallon are just a few of the many rich and famous people who have sHown off their Bored Apes. The group formed an LLC, Yuga Labs, with Nicole Muniz acting as CEO. They started with a Bored Ape Yacht Club presale on April 23, 2021, followed by the official launch on April 29. In August 2021, the highest sale for a single ape occurred when Bored Ape #7090 sold for 600 ETH ($2.25 million USD at the time) in a Sotheby’s auction.