Summary
The Bored Ape Yacht Club (BAYC) collection consists of 10,000 NFT monkeys, each with its own unique qualities. Some of these qualities are rarer and more valuable to collectors. After buying a monkey, you can also become a member of BAYC, which gives you exclusive access to future new collectibles and other privileges.
BAYC holders can receive airdrop serum to turn their apes into "mutated apes". Mutants are also minted in the public sale, priced at 3 ETH each. Owners of the original BAYC Ape will also have the opportunity to mint a Club Dog NFT for free. The club donates royalties from secondary sales to animal charities.
Part of the reason for BAYC's success is that it has been building the universe behind NFTs and creating an exclusive club for a long time. Through games such as Mutant Arcade, charity events and club benefits, BAYC conducts continuous marketing and maintains a relatively high reserve price.
Introduction
Keeping up with the latest NFT releases has become a real challenge. For every successful project, there are many that failed. Past successful formulas are commonplace, but some methods still capture investors’ imaginations. Bored Ape Yacht Club has been a huge hit in the NFT ecosystem. What’s the secret to its success? It’s because BAYC, while also following a familiar formula, has managed to break new ground in the NFT space and push the boundaries.
What is Bored Ape Yacht Club (BAYC)?
The Bored Ape Yacht Club Collection consists of 10,000 non-fungible tokens (NFTs) designed as apes from the Ethereum blockchain. Inspired by NFT projects such as CryptoPunks, each NFT has a unique look. The rarity of each ape varies, depending on its attire, behavior, and background.
The project was created by the four founders of Yuga Labs, each with the pseudonym: Gargamel, Gordon Goner, Emperor Tomato Ketchup, and No Sass. From the initial minting, BAYC gradually built a new NFT series, an NFT upgrade series, and an exclusive club for BAYC holders. A series of developments attracted people's attention, and the price rose all the way. Its NFT was sold at a high price of $3.4 million at Sotheby's auction house.
How does Bored Ape Yacht Club (BAYC) work?
Each virtual ape is an ERC-721 NFT in the Ethereum blockchain. All tokens are unique, non-fungible products and cannot be exchanged for equivalent value with any cryptocurrency or token. Ape consists of seven potential traits:
1. Background
2. Clothes
3. Earrings
4. Eyes
5. Fur
6. Hat
7. Mouth
Each attribute has a variety of different expressions and styles. For example, among the many apes below, you can see apes with solid gold, trippy, and noise fur. Each style is limited in quantity, and some styles are rare.
Generally speaking, the rarer the trait, the higher the trade price. When you start looking at the apes' attributes, you can rank them by rarity. In other words, apes with rare attributes will usually sell for more than apes with common attributes.
What are the advantages of Bored Ape Yacht Club?
Bored Ape owners can participate in BAYC's exclusive clubs and field activities. These include early access to new NFTs, NFT upgrades, and other privileges. BAYC members can join the Mutant Ape Yacht Club (MAYC) and the Bored Ape Kennel Club for free. These series are sold at high prices, making the benefits of joining BAYC obvious.
What is the Mutant Ape Yacht Club?
MAYC is a series of collectibles similar to the original BAYC ape, but with a zombie-like mutant theme. Holders of 10,000 original BAYC NFTs received an airdrop of a bottle of mutant serum with random levels: M1, M2, and M3.
These serums are randomly deposited into the wallet that holds the NFT. If the ape is injected with M1 or M2 mutation serum, a new mutant ape can be created, and the mutant species has some common characteristics with the original ape. In addition, the M3 serum bottle can create a completely new mutant ape that has nothing to do with the original ape and is even rarer.
Yuga Labs claims that MAYC is the "ultimate membership" for BAYC holders. From now on, the R&D team will continue to bring more benefits and benefits to BAYC members.
What is the Bored Ape Kennel Club?
Bored Ape Kennel Club is another NFT collection from Yuga Labs, exclusively distributed to Ape holders. Wallets with Ape mint a Club Dog NFT with many attributes and rarity. There are no fees to claim these dogs, other than gas. All secondary sales generate a 2.5% royalty for a limited time, donated to animal charities.
What is Mutant Arcade?
Part of the appeal of BAYC comes from the story and atmosphere behind the NFT. CryptoPunks only have NFTs, while BAYC has created a themed universe. The small mutant ape Arcade released with the MAYC series is one example.
What is the Bored Ape Yacht Club Bathroom?
The Bathroom is another membership benefit that allows holders to draw one pixel every 15 minutes on their virtual Bathroom wallet. The Bathroom does not offer any other tools besides the community drawing board. However, like other club benefits, it helps to attract collectors and spark their interest in the project and its universe.
Where to buy the Bored Ape Yacht Club NFT?
BAYC and other series of collectibles are popular and relatively expensive. As the coin slots are all occupied, the relevant collectibles can only be purchased on the secondary market. If you have sufficient funds, you can buy them on OpenSea and Rarible.
In order to buy Ape, you need to deposit enough Ether (ETH) in your wallet to cover the selling price and transaction fees. You also need to use a wallet that is connected to the DApp (such as Metamask or Binance Chain wallet).
in conclusion
Bored Ape Yacht Club successfully applied the popular NFT model and innovated it. By perfectly integrating ethical charity donations, upgrades and other member benefits, Yuga Labs injected vitality into the familiar CryptoPunks format. Like other projects in the NFT community, collection value is no longer the whole of NFT, and practicality will gradually become a new focus.