How BAYC NFTs become a Status Symbol for Celebrities and Influencers? – The Crypto Times

The demand for NFTs and recognition of NFT artists has spiked during the pandemic. The gale led to the innovation of exclusive NFT platforms to attract buyers and heated the price of existing Non Fungible Tokens.

BAYC NFTs are among the premium category of unique digital collectibles that every crypto aficionado wants to have in their wallet. 

Certainly, Bored Ape Yacht Club falls in the bucket of anomalous NFT collections that took the NFT market by storm. These High-priced Ape avatars are now selling for $247839.71.

How did BAYC NFTs become a big deal for NFT enthusiasts? And, what contributed to the rise in popularity of BAYC NFTs?

This write-up goes into great detail about the Bored Ape Yacht Club NFTs, including how to become a BAYC member.

What is the Bored Ape Yacht Club?

Bored Ape Yacht Club is a platform for 10,000 simian cartoonised bored ape NFTs. Each ape is a door to the Bored Ape Yacht Club for buyers. 

The unique avatars are ERC-721 tokens on the Ethereum blockchain, and its metadata is stored in IPFS. Each ape token has been generated using a custom algorithm from 170 attributes.

BAYC NFTs has garnered tremendous social media attention after its launch. In the beginning, a single ape cost $0.08 ETH, and today, the most affordable one is worth $24,7908. The total market capitalization of the club is around $2.08 billion, with more than 6310 owners.

Who created BAYC NFTs?

The Bored Ape Yacht Club was established under the entity name Yuga Labs. It was developed and launched by four pseudonymous innovators named Gargamel, Gordon Goner, Emperor Tomato Ketchup, and No Saas. 

On 23 April 2021, Gordon came up with a surprise pre-sale launch in Discord. A few were minted; besides, pre-sale has got no public attention during the first week.

Social media was ablaze when the face of the ape was revealed on 30 April 2021. People started trolling for the bored ape to buy and hold one. Within a day, the whole list had sold out.

Much to the chagrin of members, two creators recently revealed their identities. Wylie Aronow (Goner) and Greg Solano (Gargamel), residents of Florida, are the two artistic minds behind the lucrative venture. Seneca, a young Asian American artist is the leading graphic designer of this simian artwork.

Goner and Gargamel

However, the identities of No SaaS and Tomato Ketchup have not been revealed yet. The latest news reports say Nicole Muniz, CEO of Yuga Labs, confirmed the artists behind the Billion-dollar Bored Ape Yacht Club.

How was BAYC NFTs created?

Gordon Goner revealed the story behind the creation of the rich apes of BAYC NFTs in an interview with Red Stone. Goner and Gargamel were born and brought up in Miami. Gargamel was an editor and a book critic. When they met incidentally in a dive bar, they argued about books. Later Gargamel got Goner to crypto in 2017. They had then begun exploring unique ideas for capitalization. 

In the first half of 2021, Goner and Garmel started scooping into NFT platforms. After scouring many medias, they wondered about blending virtual art with community membership via gamification.

Garmel and Gorner weren’t technophiles, so Gargamel invited No Sass and Tomato into the team. Both No Saas and Tomato Ketchup are computer science graduates from the same university as Garmel.

According to Goner, NFTs need to have utility other than virtual collectibles. He wanted to add some usefulness to the buyer when purchasing a token. So, Goner came up with a vision to create a club for like-minded people to crack jokes and have crypto-sphere discussions. Gargamel welcomed the idea with both hands, and BAYC NFT was born.

Even after an immediate success in the NFT space, the team is looking for uncommon ways to bring more value to the club members and improve the utility of the virtual product.

What are the characteristics and features of BAYC?

BAYC are intriguing creative art pieces that attract buyers. Each ape is made up of seven possible traits. These are background colour, clothes, ears, eyes, fur, hat and mouth.

Several of them are wearing colorful caps. Other features include golden teeth, pizza on their lips, oversized sunglasses, and metal bodies. These unimpressed ape characters represent the modest lifestyle of rich apes, and the pieces among them are indeed expensive.

BAYC NFTs offer commercial rights to individual buyers. Owners can brand their projects or products and sell them independently. Bored ape holders have made cartoon replicas of apes and animated YouTube series. Kyle Swenson, an NFT market analyst and an early investor of the Bored Ape Yacht Club, has started a Bored Ape gazette for the community.

Bored Ape Yacht Club came up with a roadmap for prospective buyers which clarifies what they will do with their gains. The team promised a YouTube channel, Lofi Radio, limited edition tees, hoodies, and goodies. They have been donated to charities and ape sanctuaries.

The first reason for its popularity is that BAYC NFTs evolved as one of the best investment choices. 

Last year, 101 first minted Bored Ape Yacht Club tokens were resold for $24.4 million in an auction organized by Sotheby’s, a renowned destination for contemporary art. Subsequently, another NFT collection forum ‘Christie.com’ has sold four Apes for $12 million. 

A record sale of the BAYC NFT is again from the second auction of Sotheby’s in which a single Ape sold for $3.4 million. As mentioned earlier, it was just 0.08 ETH on 29 April 2021, and now the sales have skyrocketed to 1080.69 ETH. The profit is beyond fantasy. 

BAYC #232

The second reason is its utility. In contrast to other NFTs that offer only investment possibilities, BAYC NFTs offer additional perks and entertainment opportunities.

During the second week of February, Bored Ape Yacht Club hosted a warehouse party as part of Ape Fest 2021. Strokes, Lil Baby, Beck, Chris Rock, Aziz Ansari, and Questlove performed at the music events of the warehouse party with BAYC apes.

In Dec 2021, Yuga Labs announced a partnership with Animoca Brands to launch a play-to-earn crypto game, sailing smoothly with the latest crypto trend.

Adidas, the apparel brand, entered metaverse space with the Bored Ape Yacht Club. Adidas acquired an Ape avatar and planned to make Indigo Herz’s character. They have posted a picture of their ape wearing an Adidas shirt and yellow hat on Twitter. In the future, the partnership hopes to introduce attractive metaverse avatars using BAYC NFTs. 

Twitter had also implemented a blue tick verification for original BAYC NFT profile pictures. Consequently, keeping a BAYC NFT avatar in the Twitter profile picture has appeared as a new way of showcasing the luxuriance. 

Last but not the least, the vibrant community and celebrity owners made BAYC popular.

Celebrities have begun ‘aping in,’ which led to a surge in community growth.

What are the main uses of BAYC NFTs?

Bored Ape Yacht Club became one of the most lucrative and coveted memberships in the NFT space. It is a destination for crypto lovers and NFT enthusiasts to gather and discuss controversial topics from the cryptocurrency market. Additionally, NFT holders have a feeling of becoming members of their own official home in which they can find people who carry identical keenness.

The BAYC NFT holders will be able to participate in Ape Fest, which will include warehouse parties, charity dinners in New York, in-person gallery parties, yacht parties, and merch pop-ups. In addition, members will have access to exclusive areas, such as BATHROOM, Apes vs. Mutants mobile game, Kennel Club, and Mutant Ape Yacht Club.

BATHROOM is a hangout place around a virtual toilet. It is a pixel-ish board with a canvas accessible to wallets that contain at least one ape. It looks like a good dive bar wall where users can scrawl, paint, and write quotes. BATHROOM is an effort to bring artistic minds to enjoy art space. 

BAYC fellows have entry to MAYC- Mutant Ape Yacht Club, a pool of 20,000 mutant apes. It is a way to reward ape holders, a mutant version of their ape. 

Holders of BAYC NFTs were airdropped a mutant serum vial of a random tier, M3, M2, and M1. 

Mutant serum M2

Out of these three, M3 serum can create a new ape unrelated to the original one. M1 and M2 serums make a new mutant that shares the trait of the original one. Club members can also mint a mutant ape in the public sale.

Bored Ape Yacht Club members are part of the Kennel Club. Dog NFT is not for sale, but ape owners can adopt a club dog NFT for one week. 

BAYC NFT owners can claim any dog of their preference from the Kennel Club. An ape holder who claimed a puppy once would not be able to claim it again, and transaction fees would be required to claim a puppy.

Merch on the official website is a merchandise showroom that allows club members to shop in the store. Members can buy limited edition hoodies, t-shirts, and other goodies from the shop and pay using their MetaMask wallet.

Who are the celebrity owners of BAYC NFTs?

On 25 February 2022, the internet popped up rumors that Elon Musk bought Bored ape yacht club #1837 ape. There was no official confirmation from Musk but just an assumption from the NFT community.

DEEPAK, an NFT collector, has sold #1837 ape for 600 ETH to an anonymous buyer. He presumed it could be Tesla founder Elon Musk based on account details.

No wonder!!

The blooming ape NFTs attracted celebrities and influencers to become a part of the premium club of virtual art and own one wealthy ape in their wallet. 

Even Golden State Warriors player Stephen Curry, who has 15.5 million Twitter followers, kept the image of BAYC Ape #7990, a bored blue fur ape in a tweed suit worth 55 ETH, as his profile picture.

Justin Bieber, the Canadian singer, purchased his #3001 Ape on 29 January 2022. The ape was listed for 500 ETH but Bieber paid 4X value for that, and the purchase took BAYC in the air.

Justine Beiber’s BAYC #3001

An American actress and model, Paris Hilton, became a member of BAYC with her ape #1294. Red-coloured fur ape wearing sunglasses with a chained hat cost around $275,000 at that time.

Soccer star Neymar JR acquired ape #6633 for $400,000. The ape is characterized by bubble gum in the mouth with holographic eyes and white printed black tees.

A famous American television host, Jimmy Fallon, added BAYC #599 in his wallet for 46.6 ETH in collaboration with MoonPay. Ape with heart sunglasses, lined tees, cream fur with a sea captain’s hat resembles a serious moneyed fellow.

In January, Comedian and actor Kevin Hart entered Bored Ape Yacht Club with ape #9258. An ape with a multicolored spinner hat, ooh mouth, and angry eyes cost $200,000.

The singer and lyricist Post Malone bought two bored apes for $70000 characterized with a zombie fur, cowboy hat, and slightly green-coloured ape. Malone featured the purchase in his music video “The Weekend.”

American rapper Snoop Dogg acquired ape #7723 and a set of MAYC M1 and M2. He entered the kennel club also. 

Rapper Dominque Armani Jones aka Lil Baby owns a mutant ape and a bored ape. He acquired BAYC #129 for 38 ETH at that time.

The American DJ duo, Chainsmokers have brought BAYC just after its entry. They purchased a cheetah fur bored ape with a cigarette on lips worth $225,000. 

Shaquille O’ Neal is an NBA star and celebrity influencer who acquired #14452 worth $20,000 and aped into Mutant Ape Yacht Club.

Venture Capitalist and MD of Boost VC purchased an ape for $200,000. Ape #9132 is a sad ape with black tees that is kept as his Twitter profile picture.

Esteemed billionaire and Dallas Mavericks owner joined BAYC with ape #1597. The cheetah fur, black hat, Hawaiian shirt ape costs $250,000.

The above list is not the end. 

From the Big screen and Mini screen industry- TV show host Drake Bell (#1879), EDM artist Steve Aoki (#8716), NFL star Dez Bryant (#2902), EDM artist DJ Marshmello (#4808), Youtuber and influencer Logan Paul (#1442) have joined BAYC.

From the music industry – American rapper Dimitri Leslie Roger aka Rich the Kid (#9719), The mega influencer of the music industry named Future (#4672), Pop sensation DJ Khaled (#7380), The American musician Timbaland (#590), Rapper Marshell Mathers (#9055), rapper Meek Mill (#6877)have also brought ape tokens.

Tech-savvy Ethereum Co-founder Taylor Gerring (MAYC #30004), Reddit co-founder Alexis Ohanian (#882), NFT collector Danny (#9867) are among the major celebrities and influencers who entered the Ape Club.

How can you become a member of BAYC?

If you are planning to buy a BAYC NFT, you can follow these straightforward steps.

  1. You must have Ethereum tokens (ETH) to purchase BAYC NFT. So the first step is to buy Ether from any cryptocurrency exchange. 
  2. A cryptocurrency wallet is required for buying and storing NFT. MetaMask is the most widely accepted wallet to use. So you can download and sign up to MetaMask wallet.
  3. Now, send ETH to MetaMask Wallet.
  4. The next step selects an NFT marketplace where BAYC NFT is listed. OpenSea is the most popular one.
  5. Head to OpenSea. It has a variety of ape tokens listed for sale. Select your favorite option. 
  6. You can directly buy and add the selected ape if there is a ‘Buy now option. If it is a bid option, put a bid and wait for the seller to accept it. Either way, you can add a BAYC NFT to your NFT bucket.

Culmination

BAYC follows the whims and fancies of the digital assets in the cryptocurrency market and emerged as a popular celebrity NFT choice in the Crypto space. The team behind Bored Ape yacht NFT wants to do more, not just to capture the media attention but to provide much more loyalty to owners. 

Yuga Lab is in discussions with music bands and other companies for a partnership to unlock new doors for BAYC. They are also planning to launch a ‘legally compliant token in 2022, nourishing the ecosystem with utility and governance.

Investors hope Bored Ape Yacht Club will be a decentralized Disney in the future.

Also Read: 15 Celebrities Who Own Bored Ape Yacht Club NFTs

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