NFTs (nonfungible tokens) are gaining popularity rapidly, making and ruining fortunes in a flash.
With cryptocurrency use on the rise, creatives have turned to selling their content as NFTs – and the Bored Ape Yacht Club is one of the industry’s leading players.
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1. What is Bored Ape Yacht Club, you ask?
Yuga Labs created Bored Ape Yacht Club, which is a collection 10,000 profile photos that can be sold as NFTs.
NFTs take the form of unique avatars of apes. These act as deeds of ownership that members can use in order to prove their exclusive copy of the image.
In BAYC’s case, every avatar is a different disinterested-looking ape, with each one randomly generated so that no two look the same.
2. Who is the owner of Bored Ape Yacht Club
A membership to an exclusive society, or other social organization is behind the purchase of one these avatars.
You can access a Discord server to interact with other NFT owners, including celebrities.
Yuga Labs offered additional NFT collectibles for members in the form Bored Ape Kennel Club or Mutant Ape Yacht Club NFTs.
The initial batch sold of avatars brought in approximately two million dollars. It has been traded for close to 100 thousand dollars since then.
BAYC’s official launch was April 30, and all 10,000 NFTs were sold within one day.
CryptoPunks were the first to create Ethereum NFTs in 2017. However, in just a few short years they have become the second most popular profile photo NFT on market.
Snoop Dogg, Serena Williams, and Neymar are some of the stars with skin in this game.
3. How to purchase Bored Ape Yacht Club
Bored Ape Yacht Club NFTs can generally be purchased through secondary markets like OpenSea.
You can see the entire collection of Bored Ape Yacht Club, Bored Ape Kennel Clubs and Mutant Ape Yacht Club (NFTs) available to purchase by visiting the OpenSea page.
NFTs can be purchased at either a fixed price or for an auction. To purchase, you will need an Ethereum wallet.
Also, enough ETH – native crypto of Ethereum – will be required to cover the purchase cost and the gas transaction fees.
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