All over the internet, you come across news of the sale and purchase of NFTs. The craze for NFTs is increasing, as a result of which newer and better NFTs are being released in the market.
You may at times see social media posts saying that so and so person purchased a specific NFT or so and so person created their own NFT and sold it online.
People all over the internet are earning lump sum money through these NFTs. Hence, people are concentrating on creating newer and better NFTs so that they can earn a huge profit. One such important NFT and associated club that you need to know about is the Bored Ape Yacht Club. Its popularity is increasing ever since and more and more people are getting associated with them.
This article will cover all the essential information you need to gather about the Bored Ape Yacht Club. But before that, let’s understand what an NFT is!
What is an NFT?
NFT, or a non-fungible token consists of digital data stored securely within a blockchain. 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. NFTs are more like cryptographic tokens, the only difference being that they cannot be interchanged mutually.
Now that you know the basic information about an NFT, it’s time to learn and explore all the aspects of the Bored Ape Yacht Club.
What is the Bored Ape Yacht Club?
The BAYC, or the Bored Ape Yacht Club, is an NFT built over the Ethereum blockchain. This yacht club is a collection that features different profile pictures of a cartoon ape. The generation of these cartoon apes takes place with the help of an algorithm.
The credit for developing the Bored Ape Yacht Club goes to Yuga Labs. April 23, 2021, was the day to launch the BAYC. The people who own the Bored Ape Yacht Club can access a private online club and can be a part of exclusive events. These people also have an intellectual property right over these images.
Many celebrities have tried their luck and purchased these NFTs that the Bored Ape Yacht Club provides.
History of the Bored Ape Yacht Club
As per the website of BAYC, four friends together created the NFT collection of apes. The main aim behind their creation is to provide original artwork to the owners. The Bored Ape Yacht Club NFT owners are believed to have unique blockchain data where you can permanently record the sales history.
Evolution in the world of NFTs by Bored Ape Yacht Club
After the game of Bored Ape, NFTs rose, and Yuga Labs began hiring social media managers, artists, CFO, and discord community managers. As its popularity grew, it was clear that the main aim of BAYC was to become a Web3 lifestyle company.
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.
Reason behind the popularity of the Bored Ape Yacht Club
There are many benefits that one gets after owning the Bored Ape Yacht Club. The most important ones include:
- Each NFT purchased has a considerable market value which makes these NFTs a huge investment.
- These Bored Ape NFTs are an entry token to real-world private events and online clubhouses.
- The people who own BAYC NFT receive ownership rights, upon which they can build newer products.
These are a few benefits that the people who own a Bored Ape NFT get access to. Now that you know the reasons that make these NFTs unique, let’s understand why these NFTs are so popular!
- A small handful of people who own the Bored Ape NFTs have the spirit of spreading the idea into the world just like fire. One of the main reasons behind the community spread of these NFTs is the ownership rights that a person gets.
- The idea of creating Bored Ape NFTs is unique, intriguing, and addictive. Although every ape has a specific design, they follow a set pattern so that each ape is uniquely identifiable. The variations that one can create in these designs function to keep the creative minds engaged.
- The chief context behind these digital arts connects the people well. In the initial days, the owners of BAYC kept in mind not to begin an utterly isolated company. They ensured that other crypto communities were well involved.
The efforts, hard work, and the thought that the owners of the Bored Ape NFTs put towards the foundation and success of the Bored Ape NFTs is another reason behind the popularity and craze for these Bored Ape NFTs.
How to invest in the Bored Ape Yacht Club?
Now that you have heard so much about the Bored Ape Yacht Club, you must be curious to learn the answer. Learning about the perks and the good points about the Bored Ape Yacht Club will surely drag you towards investing or purchasing a Bored Ape NFT.
Let’s understand how you can accomplish the task.
The first and the most important thing you need to have for purchasing a Bored Ape NFT is Ethereum. Following are the steps you need to follow to buy a Bored Ape NFT.
Create an online account
The first prerequisite for the purchase of a Bored Ape NFT is Ethereum. To purchase Ethereum, you must create an account over a trading platform. You can select from an exhaustive list of available platforms. The best ones include Gemini Trust Co., Webull Financial LLC, Coinbase Global Inc., etc.
Once you finish creating an account, you must fund and purchase Ethereum. Once you finish purchasing, you may need a place where you store these Ethereum as well as your NFTs.
Purchase or download a crypto wallet
For the purchase and storage of an NFT, you will need a crypto wallet. The most common wallet that you can use is MetaMask. Most investors prefer to use MetaMask along with OpenSea to sell and purchase NFTs. You can download OpenSea via Google Chrome. It will then act as an extension to ease your task.
Send Ethereum to MetaMask
Once you have sufficient Ethereum, you may transfer it to your wallet. Achieving this task is pretty simple. Just locate your MetaMask wallet address. This address is nothing but a string of 64 letters and numbers that you can find in your wallet. You should copy this address and paste it into the ‘Send’ window available on your trading platform.
Enter the amount you wish to transact for the execution of your trade.
The cost of ETH is currently high, which is why it may take half an hour for you to transfer Ethereum into your wallet. If the transaction fees are very high, you can wait for some time before transferring Ethereum to your wallet. You can get a better transaction price on your wallet at night or on weekends.
Complete the purchase
Once you complete transferring ETH in your wallet, you may now proceed to OpenSea. Connect your wallet to the app, and locate the NFT you wish to purchase.
You can purchase the NFT if a ‘Buy Now’ option appears or place a bid if the screen suggests so. Once you complete the purchase, you will get the NFT in your account.
These are some of the simple steps you need to follow, after which you may get the ownership of the Bored Ape NFT. Systematic step-by-step follow of these steps will lead you to the Bored Ape NFTs the world is talking about. It will also help you avail yourself of the benefits the owners get.
What is an Ape Coin?
After gathering all the required information, the last step towards knowing the Bored Ape NFT is the ApeCoin. ApeCoin, linked with the Bored Ape Yacht Club, is an Ethereum-based token. The popularity of the ApeCoin is very high because of the enormous popularity that the Bored Ape Yacht Club has gained. These Ape Coins are air-dropped to the members of the Bored Ape Yacht Club, Bored Ape Kennel Club, Mutant Ape Yacht Club, etc.
Currently, ApeCoins are not functional. All they can do is help you secure a membership in the ApeDAO, which plays a significant role in the governance of the ApeCoins. However, you can be sure that the people who own the ApeCoin will be entitled to various utilities such as games, marketplace, etc. ApeCoin is primarily connected to the Yuga Labs, which clearly shows the bright future and the popularity it is going to acquire in the near future.
Future of the Bored Ape Yacht Club
The Bored Ape Yacht Club has established itself as a brand. From October 31 to November 6, the team organized an Annual Ape Fest. This ape fest included an in-person gallery party, warehouse party, and yacht party, followed by a charity dinner in New York. The club has also organized community get-togethers in other parts of the world, such as Hong Kong and the UK.
All these events found a place in Rolling Stone magazine, which in turn contributed to increasing the fame of these NFTs. The Bored Ape Yacht Club has decided to begin a partnership with the Adidas company. Plans to develop a new game may also be in the pipeline.
The Bored Ape has spread its arm and reached different arenas. There isn’t a place that they have left untouched. They have set their foot in various industries. We can identify them as music developers, game developers, event organizers, streetwear brands, as well as iconic celebrity characters.
This makes one thing very clear: the concept of bored apes is not only limited to NFTs, but it extends beyond that. All people around the globe will soon be able to experience the Bored Ape club without actually being present inside the club. Not just this, BAYC has also created a playbook that explains how a successful NFT brand should look, and you won’t be surprised to know how other companies are following in their footsteps.
The Bored Ape Yacht Club didn’t reach this level of fame through advertising, marketing, or social media promotion. They brought people from different parts of the country together and created a brand that acts as a badge of honor and a token for getting entry to some of the most famous events. 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.
As the craze for NFTs is increasing, so is the popularity of the Bored Ape Yacht Club. An NFT built over the Ethereum blockchain has spread and established itself in the market. People are competing against one another to get ownership of these NFTs. Their uniqueness and context are why people are planning to purchase these NFTs.
You can follow some simple steps and purchase your own Bored Ape NFT. It might be an investment for the future and will also secure the chance to be a part of exclusive events. As far as the increasing craze is considered, the day is not far when the popularity of the Bored Ape Yacht Club will gain a lot of popularity and reach greater horizons. They have started organizing in-person events, and the planning and introduction of a game are also in the pipeline.
Imagine how much the craze and popularity of these NFTs will increase once all these things are simultaneously introduced. If you are planning to purchase or invest in the Bored Ape Yacht Club, you should accomplish the task as soon as possible, so that you can avail all the benefits and be a part of this popular club.