Historically, NFTs were first started by digital artist Kevin McCoy in 1998. That is until 2014 when he developed the first NFT art called Quantum on the Namecoin blockchain. Since then, hundreds of thousands of NFTs have been created on Ethereum and other blockchains. NFTs can be a piece of art, GIFs, animation, videos, photographs, music, magazines, domain names, etc.
NFTs went mainstream in 2021 and became a familiar place in the decentralized space. This brought in a lot of investors as individual inventors and companies started launching their NFT projects. One such company is Yuga Labs, a blockchain company specializing in NFTs that developed the popular Bored Up Yacht Club – BAYC.
What is the Boarding Monkey Boat Club?
of Boring Monkey Boat Club Buried on the Ethereum blockchain is a collection of 10,000 unique Bored Up NFTs. Each unique Bored Monkey doubles as a membership card to the boat club, making the club exclusive to Bored Monkey owners.
While the NFT collection was launched on April 29, 2021, sales initially slowed to May 1, a prominent NFT trader said. Prank, he bought many monkeys. He then notified his followers on Twitter, and his tweets sold out within twelve hours, making the NFT available for sale on the publicly traded marketplace.
All monkeys are unique, but some are more unique than others. Each Bore Monkey is algorithmically created with over 170 possible attributes, expressions and wearables such as clothing and accessories. For example, the collection has different hairstyles, clothes, jewelry, faces and more. Only 115 bored monkeys have earrings, 49 have daggers in their mouths and 108 have cybernetic eyes as their special features.
Why are bored monkeys worth so much?
Bored Monkeys’ launch price was set at a fair price of 0.08 ETH – about $190 at the time – so no one monkey cost more than others, regardless of their behavior. After three months, NFTs began to gain more ground as their prices increased.
Then crypto summer bull run appeared and price Bore Monkey NFTs In August 2021, it increased more than 400%. At the time of writing, BAYC’s market cap is $1,088,809.041.22 and the 24-hour trading volume is $54,643,948.40 with 66.9 ETH each equal to $10908.8
The floor price is not the general price for all Bored Monkeys; It can be considered the lowest price of Bored Monkeys on the open market where they are listed for sale. Currently the most expensive Bored App is listed at 99,999,999,999,999 ETH which is $163,436,999,999,998,370. Some are listed at 7,000 ETH, 5,000 ETH, 3,000 ETH, etc.
A total of 6,454 unique holders hold 10,000 NFTs in this collection.
Who is behind Board Up Yacht Club?
BAYC was created by Yoga Labs and Willie Arono and Greg Solano. The two men were known by their first names. Gordon Goner And Gargamel. Later in April 2021 Kerem aka No Sass and Zeshan Emperor asked Tomato Ketchu to form BAYC.
Krum and Zeshan were software engineers, while Gordon Gonner and Gargamel were both artists; Gargamel had a Master of Fine Arts (MFA) and Gordon Gonner dropped out of his MFA due to health reasons.
Who drew the bored monkeys?
Unknown to many fans, the BAYC quartet were not the designers behind BAYC; They only gave birth to the idea. Asian-American artist known as Seneca All see SenecaDraw the main characters.
Despite her unfamiliarity with NFTs, Yuga Labs took her in and gave her ideas to develop a character. Yuga Labs wanted “Punk Apes” but didn’t know what it looked like.
How BAYC maintains eligibility
BAYC, since its inception, has engaged the entire community in fun activities to keep the club alive rather than boring those who have joined (or skipped) their projects. Below are the current new components being released to the ecosystem to engage members and maintain OG status.
The toilet
The bathroom is the first significant engagement with club members. It is a digital copy of a personal physical planning board or whiteboard where members can freely write whatever comes to mind on the wall. The concept of this private bathroom is to create A shared digital canvas Where club members can draw, so the bathroom is for members only.
Bored Monkey Kennel Club – BAKC
Another interesting participation is the dog adoption concept where every monkey can freely adopt a dog so that they don’t feel bored and lonely in the dog house. The Kennel Club allows each kennel to receive a dog from the club as a companion for free – excluding gas charges. The offer runs for one week in June 2021, with members registered for this adoption receiving their own distribution at the end of the adoption period.
96% of bored monkey owners have accepted. Dog friendAnd the remaining 400 rejected dogs were left to perish in the swamp. Since then, these dog NFTs have been listed on marketplaces since they are no longer available at the Kennel Club.
There are 9,602 Dog NFTs with 5,550 owners and a floor price of 6.95 ETH – $11,501.83. At the time of writing, BAKC has a market value of 66,733.9 ETH – $110,440,581.81 – the most expensive NFT in this club is listed on OpenSea with 5,000ETH – $8,161,700.
The BAKC suite includes charitable donations to NFTs, with a 2.5% royalty set aside for six weeks after launch. According to BAYC’s official Twitter handle in August 2021, the proceeds from the royalties are donated to animal charities such as Orangutan Conservation.
The Mutant Ape Yacht Club – MAYC
Another attractive model for engaging BAYC members introduced to the ecosystem is the Mutant serum airdrop. A snapshot of the board’s monkey holders was taken on August 8, 2021, and each holder was airdropped. They will change the way later.
Before the mutation began, 10,000 mutant monkeys were auctioned and sold. The mutation was a way of showing gratitude to the BAYC members who created the mutant monkeys free of serum. The airborne serums are M1, M2, and M3, and bored monkeys can only use each bottle once.
M1 and M2 sera transformed boer monkeys into mutant monkeys with the original boer monkey characteristics. M3’s test tube bore turned the monkey into an undetectable mutant. Alongside the 10,000 Mutant Apes previously produced, this includes a set of 20,000. Mutant Up NFTsAnd the Mutant Ape Yacht Club was formed in it.
MAYC members are comprised of former BAYC members and owners or investors of the newly released 10,000 Mutant Monkeys. MAYC currently has 19,425 NFTs and 12,962 unique holders with a market cap of 23,100 ETH -$386,166,291.95 – and a floor price of 12 ETH -$19,879.86.
What makes BAYC worthwhile?
Holder of famous people
Celebrities have become a significant game changer in the crypto/NFTs industry, doubling the media influence for projects. Bored Monkey’s NFTs, for example, are prank tweets that have made the most sales. Since then, many famous people have bought this NFT and praised them in the media.
Examples include:
- Snoop Dogg
- justin bieber
- Shaquille O’Neal
- Madonna
- Paris Hilton
- Jimmy Fallon
- Kevin Hart
- Eminem
- DJ Khaled
- Travis Barker
- Timbaland
- Serena Williams etc.
Community strength
Community plays a vital role in the success of many projects in the blockchain industry. The project community doubles as foot soldiers and influencers. BAYC meetings have been held in Hong Kong, New York, California and the United Kingdom.
Benefits of membership
Another factor that makes BAYC worth it is the benefits for NFT holders like club membership, bathroom access, and free NFTs and BAKC and MAYC membership. As the Yoga Labs team continues to work tirelessly to create other resources, existing members will benefit greatly from future projects. This is an example. ApeCoin tokens Distributed to bored and mutant monkey cages.
Bored Ape holders earned $10,094 APE for each NFT, Mutant Ape holders earned $2,042 APE. Imagine if a holder holds multiple NFTs of both sets.
Other projects at Yoga Labs
Yoga Labs It started its blockchain/crypto journey less than two years ago and the company is currently valued at billions of dollars. Their success is due to working tirelessly to attract blockchain/crypto and NFT projects.
Among their other projects are $APE cryptocurrency and Otherside Metaverse with other NFTs.
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*All investment/funding opinions expressed on NFT Plazas are derived from the personal research and experience of our site moderators and are intended as educational material only. Individuals should thoroughly research any product before making any investment.
Technical writer, enthusiast for all things blockchain and the decentralized world.