bored ape yacht club roadmap

Inside Bored Ape Yacht Club's Plans to Master the Metaverse

Bored Ape Yacht Club founders Wylie Aranow and Greg Solano talk to CNET about how they conquered NFTs -- and what comes next.

Over 2,000 people had crammed into a Brooklyn warehouse for the occasion. Shielded from a cold November night, partygoers indulged in an open bar lit up by the blue, green and red strobe lights pulsing through the makeshift club. Following performances by Beck, Chris Rock and Aziz Ansari, the main event of the evening was a set by The Strokes. Wylie Aronow was swaying with his girlfriend as they listened to the acclaimed New York rock band. She turned to him and uttered three surreal words: "You did this." 

Just a year prior, Aronow was living "bed to bathroom" with colitis, a disease that can cause chronic inflammation along the digestive tract. The illness forced him to drop out of college and caused him to languish for much of his 20s. Now Aronow is better known as Gordon Goner, one of the creators of the Bored Ape Yacht Club NFT phenomenon.

Along with the three other founders -- Gargamel (Greg Solano), Emperor Tomato Ketchup (Kerem Atalay) and No Sass (Zeshan Ali) -- he'd organized the show everyone was watching. They'd also gotten help from Guy Oseary, the famed manager of Madonna and U2, who signed a deal to represent BAYC the month prior. It was Nov. 4, 2021. The Bored Ape Yacht Club was scarcely seven months old. 

The concert concluded the final day of Ape Fest, a string of activities taking place in New York, tailored for holders of Bored Ape Yacht Club NFTs, which are crypto tokens that prove ownership of a digital item. Earlier events included a yacht party and an art gallery featuring NFTs from the collection. For many, that week signaled the Bored Ape Yacht Club's transformation from an online curiosity to a tangible subculture. 

"It's only in those moments of taking a break that you see how much your life has changed," Aronow said in an interview. "It just hit me so hard." 

Bored Ape Yacht Club founders Zeshan Ali (red Hawaiian shirt), Kerem Atalay (green hoodie), Wylie Aronow (charcoal T-shirt, red shirt) and Greg Solano (black hoodie). Yuga Lab's CEO, Nicole Muniz, is in the center. 

The Bored Ape Yacht Club has grown bigger than anyone could have possibly predicted. Aronow says he initially envisioned BAYC as a Web3 version of the streetwear brand Supreme. It's grown into something drastically more ambitious, mixing apparel, live events and an upcoming video game. Yuga Labs, the company the four founders formed to launch the Bored Ape Yacht Club, now has over 100 employees, and is valued at $4 billion .

Blockchain technologies like crypto and NFTs form the basis of Web3 , the supposed next generation of the internet that seeks to take control of the internet away from major platforms like Amazon, Meta and Google. But detractors say that Web3 and all of its components, NFTs and crypto chief among them, are merely Ponzi schemes, that the battered valuations of bitcoin and ether represent years of hype finally making contact with reality.

In an area where scams and fraudsters are ubiquitous — see the recent collapse of the FTX exchange and its disgraced founder , Sam Bankman-Fried — Yuga Labs aims to prove that Web3 can not only be legitimate, but is in fact the future.

"There's a Satoshi Nakamoto quote, 'If you don't believe me or don't get it, I don't have time to try to convince you,'" said Yuga Labs co-founder Greg Solano, aka Gargamel, referencing bitcoin's pseudonymous founder. "I think that's the wrong attitude. I understand that people don't understand it. We want to build the roads, the infrastructure, that makes this inherently fun." 

In the past 20 months, the Bored Ape Yacht Club has become the poster child of NFTs. Though far from their all-time high, the cheapest BAYC NFT on sale costs around $88,000, making it a hard club for newcomers to easily join. Even Yuga's secondary NFT collection designed to be more accessible, Mutant Ape Yacht Club, has a base price of just under $19,000. To create a more achievable entry point, Yuga Labs is looking to the metaverse, building a crypto-integrated game it hopes will help usher in the next generation of Web3 adopters.

It won't be easy.  

The Bored Ape and the bear market

It's a bad time to be in crypto right now. Really bad. 2022 saw bitcoin and ether, the two biggest cryptocurrencies, plunge precipitously from their November 2021 all-time highs. Ether, the cryptocurrency on which much of the NFT world relies, is down more than 70% from its peak.

The pain inflicted by the so-called crypto winter is felt far beyond the blood-red color that dominates year-over-year price graphs. The implosion of the Terra stablecoin in May wiped billions from the market , causing some ordinary people to lose extraordinary amounts of money. Things have only gotten worse since then.

November saw the bankruptcy of FTX, a crypto exchange once worth over $26 billion which earlier this year participated in Yuga Labs' latest funding round . The job of an exchange like FTX is to buy and hold cryptocurrencies ordered by its customers. How that mandate resulted in $8 billion of debt exemplifies many of the worst parts about cryptocurrency: limited accountability taken advantage of by shady founders, leading to spectacular crashes. 

In October, Bankman-Fried, better known as SBF, was one of crypto's most trusted faces. His fall from grace has inflicted enormous harm on crypto's already beleaguered reputation. Calls for regulation have been amplified, most notably by Democratic Sen. Elizabeth Warren, who warned that an unfettered crypto industry could tank the economy.

"There's extraordinary regulatory scrutiny right now, and it's only going to get worse," said John Reed Stark, former chief of the Office of Internet Enforcement at the Securities and Exchange Commission and current president of John Reed Stark Consulting. "I don't think any company that I've ever seen [in crypto] has the maturity or the wherewithal to be capable of handling that kind of regulation."

Yuga Labs is  one of many companies the SEC  looking at as it investigates the wider industry. Its challenge is not only to make Web3 accessible, but to do so at a time when both scrutiny and skepticism in all things crypto are greater than ever before.

"Yuga isn't impacted by anything that's happened directly, but what's happened is horrible and I think hurts the entire industry," Aronow said of FTX's collapse. "This was something that a large portion of the space trusted, thought was a good guy, and now we're seeing behind that mask, and it's ugly."

All Yuga Labs can do now, he said, is focus on its priorities. Its next key project is Otherside, Yuga's concept of the metaverse. While Meta, the company formerly known as Facebook, sees the metaverse as a big virtual-reality world , Yuga Labs is going in the opposite direction. To bring in the largest group of people possible, Otherside is being designed to work on web browsers — both PC and mobile. 

Like World of Warcraft, a game Aronow and Solano have sunk countless hours into, Otherside will be a large fantasy world with quests and a storyline. But it'll also double as a platform, like Roblox and Minecraft, where players often spend time building, roaming and just hanging out. 

In both Minecraft and Roblox, a large part of the virtual locales players spend time in is built by players and companies, like Nikeland in Roblox, not the game's developers themselves. The difference between these established games and Otherside is the concept of digital ownership. Items you buy or make, unlike in Roblox or games like Fortnite, are treated like digital property — you can sell them, swap them or gift them once you're done.

Gamers have thus far proven to be an unexpectedly tough sell  on Web3. Though gaming is an obvious next step for NFT technology, gamers have reacted with fury at various studios' attempts to integrate NFTs into their wares. That can be chalked up to both a suspicion of NFTs as well as a history of predatory microtransaction tactics by established gaming companies . Ubisoft, Square Enix and EA have all faced the wrath of disapproving gamers, but Yuga Labs is betting that people will come around once they experience actual digital ownership.

"People spend $120 billion each year on digital assets and games on their phone, and those are sunk-cost systems," Solano said. Once that money goes in, it can't come out. A proposed purpose of Web3 technology is to change that.

Otherside is Yuga Labs' upcoming metaverse game, developed for PC and mobile browsers.

Yuga's proposition is that Otherside can use crypto and NFTs to form an in-game economy that would otherwise be impossible. Items created in the game can be owned as NFTs. Selling those NFTs, or creating in-game services people use, can earn you crypto. The idea isn't to create a playground for get-rich-quick schemes, but to develop a platform where people have the same financial incentives to create a digital item as a physical item.

"There's a base idea here, which is you want to incentivize creators," Solano said. "The best things that have come out of gaming in the past 20 years or so, much of it is mods and user-generated content and stuff that they can't monetize directly on their own, [so creators are] forced away to go to Patreon." 

Solano is referring to games like Skyrim, which have enthusiastic modding communities that are over a decade old, and Dota, a full game that's actually a mod of Warcraft III. One of the most critically acclaimed games of 2021 was Forgotten City , a mod of Skyrim. 

Aronow and Solano couldn't give a firm release date for Otherside, insisting rather that the platform will open up incrementally. Adopting the decentralized ethos of cryptocurrency, it'll be built alongside its community, with regular "Voyager Trips" — closed betas — informing how it's built. 

Crucially, despite it being a Web3 game, you won't need crypto or NFTs to play it. 

"Otherside is very much an open platform and an open world," said Yuga Labs acting CEO Nicole Muniz, "because we're looking at the entire ecosystem, and we want to onboard the next 100 million users onto Web3."

Muniz will step down as CEO in the first half of 2022, replaced by Activision Blizzard's departing president and COO , Daniel Alegre. 

Otherside is ambitious, and its success is far from assured. But Yuga's efforts are worth paying attention to. The speculative bubble that has enveloped the NFT space for much of the past two years has aroused fierce debate over whether there's any actual, mainstream use to the technology. Whichever way it goes, Yuga's metaverse bet will prove someone right.

Six CryptoKitties.

The world's first ethereum game

NFTs have been linked to gaming almost since their very inception. In November 2017, amid the mania of bitcoin approaching $20,000 for the first time, a firm called Axiom Zen launched an app called CryptoKitties on ethereum. It was billed as the world's first ethereum game.

CryptoKitties allowed people to own cartoon cats as tokens on the blockchain. Among the first notable NFT collections, it posed the question: If currency can be owned as tokens on a blockchain, why not digital assets? 

CryptoKitties was a proof-of-concept experiment, but calling it a "game" is a stretch. Axiom Zen allowed around 35,000 CryptoKitties to be minted in the year following the app's launch. If you bought two, you could breed them to create a third CryptoKitty. What a kitty looked like depended on the traits of its parents. Some traits were rarer than others, making some CryptoKitties more valuable than others. 

At its height, CryptoKitties was popular enough to crash the ethereum blockchain , which wasn't efficient enough to deal with the transaction demand. But interest died off after a few months. 

"I bought a couple [CryptoKitties] back in 2017, but it was kind of this blip," said Solano. "It captured crypto Twitter for a moment, everyone was talking about it when it came out, then the model just wasn't there. … I kind of just forgot about it." 

Solano had only been into crypto for a few months when CryptoKitties launched, having invested a few hundred dollars in ethereum alongside his brother-in-law on a whim in autumn 2017. Curious about cryptocurrency, Solano joked that he "put the hook in" Aronow, knowing that Aronow, once sufficiently titillated by a new idea, would tirelessly research the topic and "crush you with all the stuff he dug up about it."

Aronow's propensity for falling down rabbit holes, for immersing himself in various virtual worlds, is in large degree related to his battle with colitis. He dropped out of college due to the disease, and said he spent much of the next decade stuck at home.

"There were periods of peaks and valleys, times where I was more than capable of going outside," he explained. "But for the vast majority of that, I was bed to bathroom."

It was only in early 2021 that Aronow's condition abated, which he chalks up to a combination of Western medicine, alternative medicine and diet. It was almost exactly three months after he started feeling better, Aronow said, when he got a text message from Solano: "Hey, wanna make an NFT?"

Sixteen of the 10,000 CryptoPunks. The NFT collection launched in 2017 for free. They now regularly sell for six figures. 

The NFT playbook

CryptoKitties aroused a huge amount of attention for a few months, but the longterm NFT success story of 2017 was CryptoPunks. 

Launched for free by Larva Labs in 2017, it's a collection of 10,000 pixelated avatars that's considered the first profile-picture (PFP) collection. It's famous for encoding traits into the tokens — different hairstyles, accessories and clothing — making some more valuable than others. In many ways it wrote the playbook followed by NFT creators four years later. Most NFT volume comes from such PFP collections, and most of those collections feature around 10,000 pieces.

Aronow and Solano were inspired by CryptoPunks, and followed many of its cues. But in creating the Bored Ape Yacht Club, they ended up writing the NFT playbook's second edition. 

BAYC boasted a few key differences from other early 2021 projects. For instance, every Bored Ape Yacht Club NFT costs 0.08 ether, about $230. At the time, so-called "bonding curves" were in fashion, where the price of minting an NFT went up as more were sold. In one egregious example, the first NFTs cost 0.1 ether to mint, while the last cost 100 ether. 

The Bored Ape Yacht Club also came with a roadmap. While CryptoPunks began and ended with art, BAYC promised prolonged benefits to owning the NFT: merch drops, access to games and more. 

Last and perhaps most crucially, buying a Bored Ape Yacht Club NFT also meant buying the IP for that ape. The most famous example is actor Seth Green, who's working on a sitcom featuring his ape . One BAYC owner used their simian as a mascot for a burger restaurant ( Bored and Hungry ), while a pair of friends bought an ape and, creating a backstory for it, turned it into an author, writing a whole book (Bored and Dangerous) in character . Just this month Adidas used its ape, who it named Indigo Herz, in its World Cup advertisement. 

Adidas' Bored Ape, Indigo Herz, had a cameo in the company's recent World Cup 2022 ad. 

Holders of Bored Ape NFTs are incentivized to use their ape to expand the brand. The more that image is spread, the more valuable, in theory, the NFTs become. That's good for holders and for Yuga Labs, which takes a 2.5% cut from every BAYC NFT sold. Whether this works in the long term is anyone's guess, but it's a type of crowdsourced marketing that only exists in NFTs right now.

What didn't take off, however, was the feature that Aronow and Solano actually built the Bored Ape Yacht Club around.

When they agreed to "do an NFT," among the duo's first ideas was an NFT that would grant access to a shared canvas. The hope was that a community could form around an artwork everyone contributed a piece to — an idea Muniz, a longtime friend of Aronow who at the time was advising the pair, called "special" and "a little pretentious."

Muniz sensibly guessed that the first thing anyone would do is draw a dick on the canvas, and encouraged Solano and Aronow to work backward from that presumption. 

The shared canvas eventually became the bathroom wall of a dive bar. That dive bar eventually became part of a yacht club. That yacht club eventually became located in an Everglades swamp, in homage to the pair's Miami upbringing. The yacht club would be populated by apes, cartoonishly embodying the crypto slang "ape," an affectionate term for investing money without doing any due diligence first: "I just aped into this coin. I have no idea what it does."  

The "bored" part was inspired by crypto Twitter. The pair became fascinated by crypto traders they knew to be worth millions who would spend all their time shitposting on the platform.

"There was something deeply fascinating about someone who would post all day about cryptocurrency, and just have like a cat profile picture or whatever, who you could cryptographically verify was worth millions and millions of dollars, and late at night they would be like, 'Who wants to play League of Legends with me? I'm bored,'" Aronow said.

Solano and Aronow paid five artists to design the ape traits. These would be fed into an algorithm, which then generated the 10,000 cartoon primate avatars the world has come to know and love/hate. Two friends, Zeshan Ali and Kerem Atalay, were brought on to write smart contracts and handle the tech side of things. Ali and Atalay are Yuga Labs' other two founders. 

The upfront cost of the Bored Ape Yacht Club NFT launch was about $40,000. Months later, after it had become an unexpected success, each of the five artists got paid an additional $1 million for their work. (Seneca, the lead designer, contends her payment was "not ideal." )

Buying an ape would come with the ultimate enticement: the ability to add a pixel to the club's dive-bar bathroom wall every 15 minutes. 

"As absurd as it is," Solano said, "that was our way of pushing the space forward at the time."

The bathroom wall collage never took off — but the collection sold out in under 24 hours, generating $2.3 million for Yuga Labs.

Ape Fest 2022: One of many Bored Ape holders to get a tattoo of their ape. 

Bored Ape summer                                   

Josh Ong bought a Bored Ape during the collection's opening sale, paying $235 plus a $15 transaction fee. He still holds it — as I look on OpenSea now, there's an offer on Ong's ape for $85,000. Ong, who's known for wearing the same Hawaiian shirt that his ape dons, said he was curious about the idea of crypto tokens granting access to online communities, and liked the BAYC art enough to drop 0.08 ether on it. 

The Bored Ape Yacht Club collection did well in the months following launch. Its floor price, which is measured by the cheapest any owner has their NFT listed for, fluctuated between $3,000 and $15,000 until July. But, Ong recalls, it really got going that August when Steph Curry bought an ape for $150,000. Not only did the NBA star use his NFT as a profile picture on Twitter, where he has 17 million followers, he joined and chatted with other holders in the group's Discord, the messaging platform on which most NFT activity occurs.

Many more celebrities would buy into the Bored Ape Yacht Club and use their NFTs as a profile picture, including Justin Bieber, Timbaland and Gwyneth Paltrow. Not all of the attention celebrities drummed up for the BAYC brand was positive. A January segment on the Tonight Show featured host Jimmy Fallon comparing his Bored Ape with Paris Hilton's. The interaction was mocked online, and some like Stark criticized it as an example of market manipulation.

Still, the higher the Bored Ape Yacht Club's floor price rose, the more celebrities flaunted their apes on social media, the more owning an NFT came to resemble an actual elite club pass. 

The day after Curry bought his ape, Yuga dropped the Mutant Ape Yacht Club. All BAYC holders were gifted a vial of mutant serum. That serum could be saved or could be used on their existing Bored Ape to create a new Mutant Ape Yacht Club NFT.

A Bored Ape on the left, a Mutant Ape on the right. 

The Mutant Ape Yacht Club was designed to both reward holders and to make the brand more accessible. By that time, the Bored Ape floor had risen to a level that made it prohibitively expensive even for those deeply convinced of the future of NFTs. The MAYC collection consisted of 20,000 NFTs: 10,000 from vials airdropped to BAYC holders, and 10,000 that were sold to the public. 

The public sale was a Dutch auction starting at 3 ether, or about $9,000. It sold out almost immediately, netting Yuga Labs another $96 million .

Around that time, Ong held one of the first offline Bored Ape Yacht Club meetups. It was a small affair: A few friends he'd met in the group's Discord were going to be in New York for an NBA game. They thought about ways to market the Bored Ape Yacht Club, ways to bring the disparate community together. Ong organized two more meetups before thinking big: an actual yacht party.

Ong got the founders on a Zoom call. "We had this crazy idea to throw an actual yacht party at NFT.NYC [in November]," he told them. "And if Yuga wants to be involved, if you wanna put up some money…"

"They looked at each other, they'd just finished the Mutant mint, and said, 'I think we can cover the bill.'"

The idea turned into Ape Fest, a party that for the past two years has taken place concurrently with the NFT.NYC convention. In 2021, Ape Fest consisted of a yacht party, an open gallery featuring artwork from the Bored and Mutant Ape collections, and the Strokes-headlined Brooklyn warehouse party to cap it all off. 

The founders were unsure about how much demand there would be, how possible it would be to transfer energy from Discord to real life. When they arrived at the gallery space where Ape Fest wristbands were being given out on day one, they found a line wrapped around four city blocks. Solano helped give out wristbands. Because the founders were still pseudonymous, most people assumed he was venue staff — someone even asked if he was a Yuga intern. 

Later, Ong recalls, when artworks were being set up in the gallery, Aronow entered the room to help, but was blocked by security.

"He got bounced from his own event," Ong chuckled.

Doxxed Ape Yacht Club

Aronow and Solano made the decision to remain pseudonymous at Ape Fest 2021, not making their real identities as BAYC founders known. Looking back, they now say they were "overthinking it."

For better or worse, pseudonymity is a foundational feature of Web3 culture. The Bored Ape founders originally "doxxed" themselves after discovering that a BuzzFeed reporter who'd uncovered Aronow's and Solano's identities intended to publish a story about them.

Got doxxed against my will. Oh well. Web2 me vs. Web3 me pic.twitter.com/uLkpsJ5LvN — GordonGoner.eth (Wylie Aronow) (@GordonGoner) February 5, 2022

Got doxed so why not. Web2 me vs Web3 me. pic.twitter.com/jfmzo5NtrH — Garga.eth (Greg Solano) (@CryptoGarga) February 5, 2022

Bad actors frequently use the pseudonymity that's accepted in Web3 for ill ends. Sketchy founders are able to create a project, be it a cryptocurrency or an NFT collection, make money, vanish before fulfilling whatever utility they promised, and then repeat the process. I asked Muniz, Yuga's current CEO, if pseudonymity becomes a liability for a company with the size and mainstream ambition of Yuga. 

"We really think of Yuga as an experiment on Web3 values," Muniz said. Web3 isn't just about owning your digital assets, she said, but owning your identity too. It's a principle applied to both the products Yuga makes and the way the company itself runs. 

"We have people on staff that are fully pseudonymous, I don't know their real name. I could, as CEO, go to HR and say, 'I wanna know this person's name,' but I would never do that. … The 'real identity' thing, I can't speak to what other people are doing, but I do think people should have that choice. You should be able to own your identity." 

Aronow and Solano rejected the suggestion that there was anything untoward about their pseudonymity. 

"Number one, three months before we ever launched the collection, we were an LLC registered in Delaware and the state of Virginia," Solano said. "We were never hiding, we were just pseudonymous. We were just interacting in a way that frankly is very natural in the space and very natural to what a lot of people of our generation that have grown up playing MMORPGs, or living on AIM." 

Welp, here we go... Hey, I'm Zeshan. Nice to meet y'all (: Web2 me vs. Web3 me pic.twitter.com/0AnqurQ1el — Sass (Zeshan Ali) (@SassBAYC) February 8, 2022

Seems like the cat is out of the bag anyway, so... Hi, I'm Kerem 👋🍅 web2 me vs. web3 me pic.twitter.com/v7i4JDCTlc — EmperorTomatoKetchup (Kerem Atalay) (@TomatoBAYC) February 8, 2022

The issue of pseudonymity is polarizing even within the NFT space. The wisdom of the accepting the practice was questioned in May when the founder of a popular collection, Azuki, was discovered to have started and abandoned two previous NFT projects . "I wouldn't trust anyone who's not doxxed," a former Pixar designer-turned-NFT creator told me at NFT.NYC in June. 

The Bored Ape founders were doxxed for four months by the time of NFT.NYC 2022, and would no longer be confused as interns. Yuga's founders spent Ape Fest 2022 in June being crowded by community members eager for selfies and autographs. 

Their personal space wasn't the only thing more crowded that year. Ape Fest was another example of the NFT industry at large following Yuga's path. At NFT.NYC 2022, NFT brands competed with one another to host the biggest party with the most famous guests. Madonna performed at World of Women's NFT.NYC party, while Doodles' show featured an announcement that Pharrell Williams was coming on as chief brand officer, which preceded a performance by The Chainsmokers. 

Meanwhile, Ape Fest 2022 turned into an actual music festival, with four days of performances by the likes of Lil' Wayne, LCD Soundystem and The Roots. It was headlined by Eminem and Snoop Dogg debuting a music video in which they transform into their Bored Apes. 

Ape Fest 2022 was headlined by Eminem and Snoop Dogg debuting a new video featuring their Bored Apes. 

Building the club

When Aronow and I first spoke, I asked him what he thought about the wave of NFTs making promises they were never actually going to keep. Various collections have claimed improbable goals of disrupting fashion, fitness and gaming. In response, he told me about DentaCoin.

In the 2017 crypto bull run, while he and Solano were on crypto Twitter every day, Aronow encountered a cryptocurrency called DentaCoin. It claimed it would forever change the dental industry through blockchain wizardry. It may have sounded plausible to the uninitiated but, to people in crypto, it was an obvious and absurd marketing tactic. 

"There's a lot of feasibility for the future use cases of NFTs, but with every bull run comes the DentaCoin," Aronow said. "There's always the people who are going to try and take advantage of a situation, and it may not be easy for the public to suss out what's legitimate and what's not." 

There were dozens of NFT collections being pumped out each day in the months following Bored Ape Yacht Club's success. Few register on anyone's radar. I asked the Bored Ape founders how much of their success could be chalked up to being at the right place at the right time. There was a brief moment of silence.

"We didn't sleep at all afterwards," Solano said of the period following the April 2021 BAYC launch. "We spent that whole summer, and eight months later, working 14 hours a day." It was nearly 8 p.m ET and the sound of Slack notifications popping off was easily audible in Solano's background. 

Aronow added: "Within a few months of selling out, we were in Garga's mom's backyard in the middle of the summer heat, packaging up hats and T-shirts, figuring out how to fulfill merch orders, in the middle of COVID. 

"And then, shortly after that, throwing a giant festival on a yacht and a giant Brooklyn warehouse. I hadn't worked in a decade, Greg was a book publisher, Zeshan and Tomato were software engineers, and we were figuring out how to throw major concerts months after selling out the collection," Aronow said. 

"You make your own luck." 

Despite helming the most lucrative NFT collections, Aronow and Solano insist the grind of building a company — of working 14 hours a day, every day — means not much has changed. It's only during the occasional break, like watching The Strokes play at a gig you organized, that it hits you.

"It's probably been much more surreal for my wife than it has been for myself," Solano said. "She'll overhear a conference call and be like, 'Was that so-and-so? That's crazy, you're talking to these people,' and I'm just like, 'I don't know, I gotta get to the next meeting.'" 

If anything in life has changed, Solano says, "it's just a shitload more Uber Eats." 

Web3 Disney

Yuga Labs has conquered the NFT world. The Bored Ape Yacht Club is the second biggest NFT collection of all time, and Mutant Apes the third. The only collection to surpass BAYC is CryptoPunks, buoyed by its historical significance as the first notable NFT set.

And in March of this year Yuga Labs bought CryptoPunks, the ranked No. 1 in trading volume of any NFT collection ever, off Larva Labs, along with another popular collection in Meebits, ranked No. 11.

"I like to use the analog of Web3 Disney," said Muniz, who was appointed Yuga Labs CEO in February of 2022. BAYC is Yuga Labs' Mickey Mouse, Muniz explained, while CryptoPunks and Meebits are the company's equivalent of the Star Wars and Marvel acquisitions. Otherside, the metaverse platform Yuga is building, is like its Disney World. 

Of the 10 top NFT collections of all time, Yuga Labs owns 5: CryptoPunks, Bored Ape Yacht Club, Mutant Ape Yacht Club, Otherdeed for Otherside and Meebits.

I asked if there's any contradiction in a Web3 company owning a set of collections that are responsible for between 30% and 40% of the market volume.

"This is where we're not like Disney," Muniz answered. "We might own 30% to 40% of the market, but also our holders own 30% to 40% of the market, and I mean that in an IP sense. Our collections are some of the only collections that truly give away IP rights. … You have exclusive commercial IP rights, and that also means, by the way, Yuga does not." 

She brought up the example of the art galleries at Ape Fest, which showcase various Bored and Mutant Apes. In each case, Muniz said, they had to ask for the holder's permission to use the ape. When Adidas put its ape, Indigo Herz, in its World Cup ad, Solano said, they didn't need to ask Yuga Labs first. 

"The biggest condition for us doing that deal is that we would be able to decentralize the intellectual property," Solano added. Prior to Yuga's acquisition, Larva Labs retained IP rights to CryptoPunks. "That was the thing that was most important to us. That was the thing that underpinned our reasoning for all of this."

This success, as lucrative as it's thus far proven to be, is limited by its concentration on NFT circles. To grow from here, Yuga needs to onboard more people to NFT space — or make a product that appeals to people who would never buy an NFT. Otherside is designed to be the solution to both problems. 

A big birthday break

The Bored Ape Yacht Club rang in its first birthday in a big way: by breaking ethereum. On April 30, 2022, Yuga hosted its biggest public sale yet when it launched its Otherdeed collection. Unlike the Bored and Mutant Ape collections, these NFTs aren't designed to be used as profile pictures. They're deeds for virtual land in Otherside.

Buying an Otherdeed NFT comes with two benefits. First, holders are able to participate in Otherside's beta tests, give feedback and inform how the game is ultimately made. Second, once Otherside is live, the plot of land depicted in a holder's Otherdeed NFT will become theirs in the game.

Yuga is still in the first of three development phases for Otherside, so can't confirm the precise parameters of land ownership. Other Web3 metaverses, like Sandbox, allow players to use their land to set up shops, farm resources, build accommodation, rent spaces out for events and host advertisements. 

In total, 55,000 Otherdeeds were sold, raising about $320 million for Yuga Labs. But ethereum proved unable to handle the load, and was inaccessible for about three hours. Many people paid $1,500 in fees for transactions that failed — meaning they were unable to mint their NFT — showcasing a glaring weakness of blockchain technology. 

Four Otherdeed NFTs that represent plots of land in Otherside. There will eventually be 200,000 Otherdeed plots. 

"It's incredibly challenging," Solano said. "We knew the right thing to do would be to reimburse people for lost gas fees, so that was a huge priority for us." Yuga Labs paid $265,000 in refunds for people who paid ether for failed transactions. 

"It's the insane level of demand we've experienced at different points, the same way when we had lines four ways around the block," Solano added. "It's like, 'Wow, amazing, people want to come see this,' but also 'Fuck , we have lines four ways around the block.'" 

Otherdeed holders — of which there are just under 34,000 — are sure to be excited about Yuga's metaverse. Overcoming the wider public's uncertainty, suspicion and resentment of NFTs will be the true test. 

Stark, the former SEC enforcer, questions whether the NFT space can untether itself from rampant speculation. "Once you turn it into a marketplace it's no longer a place where people play the game, it's a place where everybody's trying to get cool stuff so they can sell it for more money," he said. 

"If you want to flex with some really cool-looking cartoon character, that's your world, have at it. I think that's not the reality. … What everybody is selling is this notion that you're gonna get rich."

Yet in other areas where NFTs have historically been criticized, substantial progress has been made. A common, justifiable objection to the adoption of NFTs has been the enormous carbon footprint of ethereum, the blockchain on which most NFTs are built. But in September the blockchain adopted a proof-of-stake consensus mechanism, changing the way new cryptocurrency is "mined," lowering its carbon output by over 99%.  

"If that was truly where the reticence lied, that's now been solved," Solano said. "Have feelings changed as drastically as the facts? Not yet." 

Muniz is confident that the technology will eventually win people over, that we're still at the "56k modem" stage of Web3. Aronow is aware of the baggage that terms like "NFT" and "metaverse" come with, and says the names might eventually be changed to be more palatable to mainstream audiences. But regardless of the name, Aronow says that eventually people will see the inherent value of owning their digital goods.

"It's only a matter of time before a company, hopefully ours, is going to demonstrate that value through a really fun game," he said. "That's going to open the flood gates. There's no going back from that moment."

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NFT Evening

Roadmap 2.0: a new BAYC digital adventure

This week, the Bored Ape Yacht Club shared an image of a brand new roadmap. Of course, their impressive community of 150K followers was immediately fascinated with the scenery – and its exciting announcements.

As you start sailing down the river, there’s a message confirming upcoming collaborations. A little further, there’s a yacht party that refers to an upcoming NYC Bored Ape Festival starting October 31st.

Next, you’ll notice two ape hands holding a smartphone; this reference talks about how BAYC and the Mutant Ape Yacht Club will begin supporting the mobile competition.

On the upper left corner of the image, the chained monkey symbolizes BAYC’s Jimmy and the Monkey puzzle. Reportedly, the Trial of Jimmy the Monkey will happen along with the MMI vs. MD event.

Next, a bored and a mutant ape stand together to announce the long-awaited release of 3D ape avatars. Actually, these models will likely come in VRM, which will expand the BAYC universe into virtual reality as well.

One of the most exciting news on the updated Bored Ape Yacht Club Roadmap is regarding a huge event. Allegedly, it involves BAYC, Cyberkongz VX and Sandbox. Reportedly, the Miami Sandbox event is set to take place in 2035. Plus, a real-life Miami meeting will follow up – this time exclusively for BAYC members. The Bored Ape Yacht Club Roadmap keeps giving!

Then, roadmap 2.0 confirmed a future BAYC themed blockchain game. However, fans will have to wait for quite a while, as it will launch only after the real-life Miami event.

To conclude, the roadmap journey reveals the release of Bored Ape Yacht Club (BAYC) DAO, or decentralized autonomous organization.

BAYC’s unstoppable success

So far, the ape club didn’t announce any specific dates for its future plans. Even so, roadmap 2.0 has revealed plenty of exciting events in the years to come.

The Bored Ape Yacht Club has been enjoying plenty of success this year. This month, the NFT Bored Ape #101 received a $19 million bid during an exclusive Sotheby’s BAYC auction.

All investment/financial opinions expressed by NFTevening.com are not recommendations.

This article is educational material.

As always, make your own research prior to making any kind of investment.

Adele Ioana is a writer with a deep interest in digital visual arts. Between covering two news stories, she enjoys drawing portraits and studying photo manipulation.

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How Four NFT Novices Created a Billion-Dollar Ecosystem of Cartoon Apes

By Samantha Hissong

Samantha Hissong

J ust last year, the four thirtysomethings behind Bored Ape Yacht Club — a collection of 10,000 NFTs, which house cartoon primates and unlock the virtual world they live in — were living modest lifestyles and working day jobs as they fiddled with creative projects on the side. Now, they’re multimillionaires who made it big off edgy, haphazardly constructed art pieces that also act as membership cards to a decentralized community of madcaps. What’s more punk rock than that?

The phenomenal nature of it all has to do with the recent appearance, all over the internet, of images of grungy apes with unimpressed expressions on their faces and human clothes on their sometimes-multicolored, sometimes-metal bodies. Most of the apes look like characters one might see in a comic about hipsters in Williamsburg — some are smoking and some have pizza hanging from their lips, while others don leather jackets, beanies, and grills. The core-team Apes describe the graffiti-covered bathroom of the club itself — which looks like a sticky Tiki bar — in a way that echoes that project’s broader mission: “Think of it as a collaborative art experiment for the cryptosphere.” As for the pixel-ish walls around the virtual toilet, that’s really just “a members-only canvas for the discerning minds of crypto Twitter,” according to a blurb on the website, which recognizes that it’s probably “going to be full of dicks.”

(Full-disclosure: Rolling Stone just announced a partnership with the Apes and is creating a collectible zine — similar to what the magazine did with Billie Eilish — and NFTs.)

“I always go balls to the wall,” founding Ape Gordon Goner tells Rolling Stone over Zoom. Everything about Goner, who could pass for a weathered 30 or a young 40, screams “frontman,” from his neck tattoo to his sturdy physique to the dark circles under his eyes and his brazen attitude. He’s a risk taker: Back during his gambling-problem days, he admits he’d “kill it at the tables” and then lose it all at the slot machines on the way to the car. He’s also the only one in the group that wasn’t working a normal nine-to-five before the sudden tsunami of their current successes — and that’s because he’s never had a “real job. Not bad for a high school dropout,” he says through a smirk. Although Goner and his comrades’ aesthetic and rapport mirror that of a musical act freshly thrust into stardom, they’re actually the creators of Yuga Labs, a Web3 company. 

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Goner and his partners in creative crime — Gargamel, No Sass, and Emperor Tomato Ketchup — were inspired by the communities of crypto lovers that have blossomed on platforms like Twitter in recent years. Clearly, people with this once-niche interest craved a destination to gather, discuss blockchain-related developments, and hurl the most inside of inside jokes. Why not, they thought, give NFT collectors their own official home? And Bored Ape Yacht Club was born.

This summer, 101 of Yuga Labs’ Bored Ape Yacht Club tokens, which were first minted in early May, resold for $24.4 million in an auction hosted by the fine-art house Sotheby’s. Competitor Christie’s followed shortly thereafter, auctioning off an art collectors’ haul of modern-day artifacts — which included four apes — for $12 million. Around the same time, one collector bought a single token directly from OpenSea — kind of like eBay for NFTs — for $2.65 million. A few weeks later, another Sotheby’s sale set a new auction record for the most-valuable single Bored Ape ever sold: Ape number 8,817 went for $3.4 million. At press time, tokens related to the Bored Ape Yacht Club ecosystem — this includes the traditional apes, but also things called “mutant” apes and the apes’ pets — had generated around $1 billion. “My name’s not even Gordon,” says Goner, who, like the rest of Yuga Labs’ inner circle, chooses to hide his true identity behind a quirky pseudonym. “Gordon Goner just sounded like Joey Ramone. And that made it sound like I was in a band called the Goners. I thought that was fucking cool. But when we first started, I kept asking, ‘Are we the Beastie Boys of NFTs?’ Because, right after our initial success it felt like the Beastie Boys going on tour with Madonna: Everyone was like, ‘Who the fuck are these kids?’ ” (Funnily enough, Madonna’s longtime manager, Guy Oseary, signed on to rep the foursome about a month after Goner made this comment to Rolling Stone .) He’s referring to the commotion that immediately followed the first few days of Bored Ape Yacht Club’s existence, when sales were dismal. “Things were moving so slowly in that weeklong presale,” recalls Goner’s more soft-spoken colleague, Emperor Tomato Ketchup. “I think we made something between $30,000 and $60,000 total in sales. And then, overnight, it exploded. All of us were like, ‘Oh fuck, this is real now.’ ” The 10,000 tokens — each originally priced at 0.08 Ethereum (ETH), around $300 — had sold out. While the crypto community may have been asking who they were, the general public started wondering what all the fuss was about. Even Golden State Warriors player Stephen Curry started using his ape as his Twitter profile picture, for all of his 15.5 million followers to behold. 

Bored Ape art isn’t as valuable as it is because it’s visually pleasing, even though it is. It’s valuable because it also serves as a digital identity — for which its owner receives commercial usage rights, meaning they can sell any sort of spinoff product based on the art. The tokens, meanwhile, act like ID cards that give the owners access to an online Soho House of sorts — just a nerdier, more buck-wild one. Noah Davis, who heads up Christie’s online sales department for digital art, says that it’s the “perennial freebies and perks” that solidify the Bored Ape Yacht Club as “one of the most rewarding and coveted memberships.” “In the eyes of most — if not almost all of the art community — BAYC is completely misunderstood,” he says. However, within other tribes of pop culture, he continues, hugely prominent figures cherish the idea of having a global hub for some of the most “like-minded, tech-savvy, and forward-thinking individuals on the planet.” Gargamel is “a name I ridiculously gave myself based off the fact that my fiancée had never seen The Smurfs when we were launching this,” says Goner’s right-hand man, who looks kind of like a cross between the character he named himself after and an indie-music-listening liberal-arts school alum. He’s flabbergasted at the unexpected permanence of it all. “Now, I meet with CEOs of billion-dollar companies, and I’m like, ‘Hi, I’m Gargamel. What is it that you would like to speak to me about?’ ” 

The gang bursts out in laughter.

In conversing, Gargamel and Goner, whose relationship is the connective tissue that brought the others in, are mostly playful — but they do bicker, similar to how a frontman and lead guitarist might butt heads in learning to share the spotlight. They first met in their early twenties at a dive bar, in Miami, where they were both born and raised, and immediately started arguing about books. “He doesn’t like David Foster Wallace because he’s wrong about things,” Goner interjects, cheekily, as Gargamel attempts to tell their story. “He hasn’t even read Infinite Jest . He criticizes him, and yet he’s never read the book! He’s like, ‘Oh, it’s pretentious MFA garbage.’ No, it’s not.” Gargamel then points out that he has read other books by Wallace, while No Sass, who still hasn’t chimed in, flashes a half-smile that suggests they’ve been down this road more than once before. “I think, on the whole, he was the worst thing to happen to fucking MFA programs, given all the things people were churning out,” says Gargamel. They eventually decide to agree that Wallace, like J.D. Salinger, isn’t always interpreted correctly or taught well, and we move on — only after Goner points out the tattoos he got for Kurt Vonnegut and Charles Bukowski “at like 17,” but before diving too deep into postmodernist concepts. Goner and Gargamel’s relationship speaks to how the group operates as a whole, according to No Sass, whose name is self-explanatory. “There’s always a yin and yang going on,” he says. Throughout the call, No Sass continues to make sense of things and keep the others in check in an unwavering manner, positioning him as the backbone of the group — or our metaphorical drummer. “It’s like, I’ll come up with the idea that wins us the game,” Goner says, referencing his casino-traversing past. “And his job is to make sure we make it to the car park.” No Sass’ rhythm-section counterpart is clearly Tomato, the pseudo-band’s secret weapon who’s loaded with talent and harder to read. (He picked his name while staring at an album of the same name by English-French band Stereolab.) The project’s name, Bored Ape Yacht Club, represents a club for people who got rich quick by “aping in” — crypto slang for investing big in something unsure — and, thusly, are too bored to do anything but create memes and debate about analytics. The “yacht” part is coated in satire, given that the digital clubhouse the apes congregate in was designed to look like a dive bar in the swampy Everglades. 

Gargamel, whose college roommate started mining Bitcoin back in 2010, got Goner into crypto in 2017, when the latter was bedridden with an undisclosed illness, bored, and on his phone. “I knew he had a risk-friendly profile,” Gargamel says. “I said, ‘I’m throwing some money into some stupid shit here. You wanna get in this with me?’ He immediately took to it so hard, and we rode that euphoric wave of 2017 crypto up — and then cried all the way down the other side of the roller coaster.” At the start of 2021, they looked at modern relics like CryptoPunks and Hashmasks, which have both become a sort of cultural currency, and they looked at “crypto Twitter,” and wondered what would happen if they combined the collectible-art component with community membership via gamification. The idea was golden but they weren’t technologically savvy enough to know how to build the back end. So, Gargamel called up No Sass and Tomato, who both studied computer science at the same university he had attended for grad school. “I had no idea what was involved in the code for this,” Gargamel admits. “I read something that said something about Javascript, so I called them and said, ‘Do you guys know anything about Javascript?’ And that couldn’t be further from what you’re supposed to know.” While they were tech-savvy, No Sass and Tomato were not crypto-savvy. They both wrote their first lines of solidity code — a language for smart contracts — in February of this year. “I was like, ‘Just learn it! It’s going to be great. Let’s go,’ ” recalls Gargamel. “From a technical perspective, some of the stuff that we’ve built out has had relatively janky workflows, which people then seize upon, asking us how we did it,” says Tomato. “It’s actually stake-and-wire or whatever, but nobody else has done it.” A lot of “stress and fear” went into the first drop, according to No Sass: “We were constantly on the phone going, ‘Oh, shit, is this OK? Is it going to explode?’ ” He shakes his head. “I wish we still had simple NFT drops. We can pump those out superfast now.” “Every single thing we do scares the shit out of me,” adds Tomato.

They started out with unsharpened goals of capitalizing on a very clear trend. But a fter one particularly enervating night of incessant spitballing, Goner realized that all he really wanted was something to do and for like-minded people to talk to in an immersive, fantastical world. Virtual art was enticing, but it needed to do something too. “We’d see these NFT collections that didn’t have any utility,” Goner says. “That didn’t make any sense to me at the time, because you can cryptographically verify who owns these things. Why wouldn’t you offer some sort of utility?”

Gargamel told him the next day he loved the clubhouse idea so much that he’d want to do it even if it was a failure. They realized they just craved “a hilarious story to tell 10 years later,” Gargamel says. “I figured we’d say, ‘Yeah, we spent 40 grand and six months making a club for apes, but it didn’t go anywhere.’ And that’s how we actually started having fun in the process.” Goner chimes in: “Because at least we could say, ‘This is how we spent our summer. How ridiculous is that? We made the Bored Ape Yacht Club, and it was a total disaster.’ ”  Gargamel interjects to remind everyone that Tomato ended up reacting to their springtime victory by buying a Volvo, the memory of which incites another surge of laughter. They haven’t indulged in too many lavish purchases since then, but they all ordered Pelotons, Tomato bought a second Volvo, and they all paid their moms back for supporting them in becoming modern-day mad scientists. “I’ll never forget the night that we sold out,” says No Sass. “It was like two or three in the morning, and I hear my phone ring. I see that it’s Tomato and think something has gone terribly wrong. I pick up the phone and he’s like, ‘Dude, you need to wake up right now. We just made a million dollars.’ ” Nansen, a company that tracks blockchain analytics, reported that for one night Bored Ape Yacht Club had the most-used smart contract on Ethereum. “That’s absurd,” says Gargamel. “Uniswap [a popular network of decentralized finance apps] does billions and billions of transactions. But for that one night, we took over the world.” At press time, the foursome — let’s just go ahead and call them the Goners — had personally generated about $22 million from the secondary market alone. “Every time I talk to my parents about how this has blown up, they literally do not know what to say,” adds Tomato, whose mom started crying when he first explained what had happened.

Since its opening, the group has created pets for the apes via the Bored Ape Kennel Club, as well as the Mutant Ape Yacht Club. The latter was launched to expand the community to interested individuals who weren’t brave enough to “ape in” at the beginning: Yuga Labs unleashed 10,000 festering, bubbling, and/or oozing apes — complete with missing limbs and weird growths — via a surprise Dutch auction, which was used to deter bots from snatching up inventory by starting at a maximum price and working its way down. With a starting price of 3 ETH — or about $11,000 — this move opened up the playing field for about an hour, which is how long it took for the mutants to sell out. (The team also randomly airdropped 10,000 “serums,” which now pop up on OpenSea for tens of thousands of dollars, for pre-existing Apes to “drink” and thusly create zombified clones.) When they sold 500 tangible hats to ape-holders in June, the guys spent days packaging products in Gargamel’s mom’s backyard in Florida. “Immediately, some of them sold for thousands of dollars,” Gargamel exclaims. “It was a $25 hat. We were like, ‘Holy shit, we can be a Web3 streetwear brand. What does that even look like?’ ”

But the team is still searching for ways to create more value by building even more doors that the tokens can unlock. They recently surprised collectors with a treasure hunt; the winner received 5 ETH — worth more than $16,000 at press time — and another ape. And on Oct. 1, they announced the first annual Ape Fest, which runs from Oct. 31 through Nov. 6 and includse an in-person gallery party, yacht party, warehouse party, merch pop-up, and charity dinner in New York. Goner tells Rolling Stone that they’re currently discussing partnership ideas with multiple musical acts, but he refuses to reveal additional details in fear of jinxing things. Further down the line, the Goners see a future of interoperability, so that collectors can upload their apes into various corners of the metaverse: Hypothetically, an ape could appear inside a popular video game like Fortnite , and the user could dress it in digital versions of Bored Ape Yacht Club merch. “We want to encourage that as much as possible,” says Gargamel. “We’re making three-dimensional models of everybody’s ape now. But, y’know, making 10,000 perfect models takes a little bit of time.” At the start of the year, the guys had no idea their potentially disastrous idea would become a full-time job. They were working 14 hours a day to get the project up and running, and after the big drop, they decided to up that to 16 hours a day. “None of us have really slept in almost seven months now,” says Goner. “We’re teetering on burnout.” To avoid that, Yuga Labs has already put a slew of artists on staff and hired social media managers and Discord community managers, as well as a CFO. “We want to be a Web3 lifestyle company,” says Goner, who emphasizes that they’re still growing. “I’m a metaverse maximalist at this point. I think that Ready Player One experience is really on the cusp of happening in this world.” If Bored Ape Yacht Club is essentially this band of brothers’ debut album, there’s really no telling what their greatest hits will look like.

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Explaining the Rise of Bored Ape Yacht Club - The NFT Project Making History

September 6, 2021 - 16 min read

I do a deep dive on the Bored Ape Yacht Club NFT project and provide some explanations for its meteoric rise in the NFT space over the past 10 months.

If you enjoy this article and want to get weekly notifications when new posts go live, subscribe to my e-mail list here .

Also note that if you are interested in NFTs or own NFTs, we strongly encourage our readers to consider purchasing a hardware wallet, which starts at $59. Hardware wallets like the Ledger S or Nano X are the most effective ways to protect your NFT assets from scams. The following links contained below are affiliate links and we may receive a small commission if you choose to make a purchase. You can read my full affiliate disclaimer disclosure  here .

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If you are interested in purchasing cryptocurrencies so you can buy NFTs, we recommend using Coinbase . You can check out our full how-to guide to buying and selling an NFT here .

Article updated on 6/22/2022.

Introduction 

The Bored Ape Yacht Club NFT project consists of 10,000 unique assets of Bored Apes. The project was released on April 23rd, 2021 for a mint price of .08 ETH, which was $200 US dollars at the time. Bored Ape Yacht Club sold out within 12 hours since it started minting.

The project has rocketed to a 99 ETH floor price , which is over $257,000!

That's an increase of 128,600% in value at the time of this writing since mint.

In just 9 months, Bored Ape Yacht Club is now 2nd in total volume sold on Opensea with 379,912 ETH which is over $1 billion in sales.

In September 2021, a Gold Bored Ape sold for $2.25 million and a current bundle of Apes for sale at Sotheby’s auction house has a $19 million bid with just under 3 days left to go. That’s $1 million higher than the top end of Sotheby’s estimate. 

Update (12/27/2021): We saw the most expensive Bored Ape Yacht Club sale for Asset #2087 when it sold for 769 ETH 3 months ago. At the time of purchase, that was equivalent to $2.32 million dollars.

Bored Ape Yacht Club has been featured on CNN.com and The New Yorker and athletes like Steph Curry , Dez Bryant , and Von Miller have purchased Apes and display them as their Twitter Profile Pictures. 

Jimmy Kimmel , Post Malone , Snoop Dogg , and other high-profile celebrities have aped into Bored Ape Yacht Club. Eminem is using his Bored Ape Yacht Club as his Twitter profile picture along with soccer superstar Neymar , who has 55.8 million Twitter followers. Justin Bieber acquired a Bored Ape for 500 ETH and shared the NFT on Instagram which garnered over 1.7 million likes.

You can buy Bored Apes on Opensea.io by clicking here , but the current floor price (lowest price for sale) for the project is 99 ETH (~$257,000).

In this article, I’m going to break down what this project is and a few reasons why Bored Ape Yacht Club went off and emerged as a blue-chip NFT in a matter of months. 

Please remember, this is not financial advice. I do not own any Bored Apes and do not recommend spending money you can’t afford to lose on NFTs. 

What is Bored Ape Yacht Club?

The Bored Ape Yacht Club is a set of 10,000 Bored Ape assets derived from 172 unique assets and was launched to the public by Yuga Labs in April of 2021.

The first Bored Ape Yacht Club NFT was minted on April 23rd, 2021 at 9:56:11 pm UTC, which is 4:56:11 pm EST by Emperortomatoketchup.eth.

Source: Opensea.io

In the first month of that launch, there were just 35 total transactions on the secondary market for an average sale of $313.07 . By August, that shot up to over 3,300 transactions at an average sale of $89,602 . 

Many in the NFT world (and observers outside of the world) wonder about utility: is it really just a JPEG or is there something more? 

The Bored Ape Yacht Club roadmap, a document containing the goals and benefits to holders of an NFT project, listed a few goals: 

(1) Release “Caged Apes” — 5 apes held back from the initial sale would be airdropped to random Ape holders. The incentivized holding an Ape for a chance to win a rare asset 

(2) The creation of a YouTube channel and LoFi Radio 

(3) Member Exclusive Bored Ape Yacht Club Merchandise (which has been released and commands premium pricing) 

Source: eBay 

(4) A treasure hunt with a 5 ETH (~$20,000) prize attached to it 

(5) Liquidity Pool — a portion of funds set aside to buy floor priced Apes for those who need to sell to get liquid assets

(6) Mutant Ape NFT drop — a free airdrop of mutant serum to mutate an Ape to create a new asset 

(7) Bored Ape owners have full commercial rights over their Apes if they want to brand their own projects 

The creators also surprised its members with the drop of the Bored Ape Kennel Club , a collection of 10,000 companion dogs to Bored Apes, for free . 2.5% of secondary sales in the first 6 weeks of this project were donated to no-kill animal shelters. 

The current floor price of those assets is 9.98 ETH ($26,000) with a record sale of 75 ETH ($292,500) for a golden puppy: 

Source: Opensea.io 

As the project grew in popularity, so did its secondary assets from the merchandise to the Bored Ape Kennel Club, to Mutant Serum and Mutant Ape Yacht Club. 

The Mutant Ape Yacht Club (created by combining an NFT airdrop with original apes) is currently at a floor price of 23.5 ETH ($61,100) with the highest last sale of 350 ETH ($1.36 million): 

Simply holding a token from this project earned you additional assets that have taken off in value from being associated with the Bored Ape Yacht club NFT project. 

Those who hold the Ape tokens have also been meeting up in person and there’s plenty of talk about future events exclusive to Bored Ape holders. 

Bored Ape Yacht club has become a powerhouse brand backed by celebrities, athletes and has met the requirements to be auctioned at global prominent art houses like Sotheby’s and Christie’s .  

Want to stay ahead of the NFT market? WenAlphaText.io sends real-time text alerts when an NFT wallet purchases an NFT. Learn more here .

Why is bored ape yacht club so successful .

There are thousands of NFT avatar (profile picture) projects that have launched in the past 6 months, but none have held a candle to the performance of Bored Ape Yacht Club. 

The only NFT avatar project that tops it is the “OG” CryptoPunks avatar project launched in 2017 which currently has a floor of 96.11 ETH ($378,101.55). 

So, why did Bored Ape Yacht club rise to the cream of the crop out of a sea of projects? 

Art is subjective , so there won’t ever be a formula to predict the rise of an NFT project. Some of it is momentum and the “vibe” of the art. After being heavily involved in NFTs over the past few months and producing detailed breakdowns of other NFT projects, I have a few theories with some supporting data to help us better understand the phenomenon. 

(1) BAYC Entered The Market Early 

When Bored Ape Yacht Club launched in late April, there were around 37,000 active wallets on Opensea.io. By the end of August 2021, there were over 116,000 active wallets. That’s 213% growth. 

April might not seem like that long ago, but the NFT timeline is crunched because the market moves so fast. 

In the fall of 2020 , NBA Topshot, an NFT project that featured video assets of players started heating up and made a statement about the potential of NFTs in our culture. 

In March 2021, Christie’s Auction house set a world-record sale of an NFT at $69,346,250 for Beeple’s EVERDAYS: THE FIRST 5000 DAYS, 2021 . 

In May 2021, Christie’s Auction House sold 9 CryptoPunks for $17 million . 

The Bored Ape Yacht Club launch was smack in the middle of those two game-changing sales and was pre “NFT summer” before the rush of new projects flooded the market. 

This didn’t guarantee its success — the art, the vibes, the execution, all matter. But BAYC had a head start and less competition at launch. 

The project only had 24 unique buyers on the secondary market in April, but by May, this exploded to 3,269 unique buyers. 

My theory is that the CryptoPunks headline inspired people to look for “the next” profile picture NFT project and BAYC was sitting there at an affordable price (.69 ETH in May) and not much competition. 

(2) Compounding Social Capital 

Many people who don’t “get” NFTs like to say they can right-click and save images and own the same asset. They fundamentally do not understand authenticity, rarity, and honest status signals . 

Simply put, owning an original BAYC puts you into a social club and one that is much more visible than driving a luxury vehicle around your neighborhood. 

Changing your avatar on Twitter to a Bored Ape puts you in the same club as Steph Curry and others, and it is a form of social proof: you know what you’re doing when it comes to NFTs and have the capital to afford one. 

Only people in your local neighborhood see you driving your luxury car around the neighborhood, whereas millions of people with an internet connection can see your NFT avatar. 

As more and more people started buying Bored Ape Yacht Club assets ( 5,616 unique buyers in April and May) the capital and community became larger in size and more widespread. 

By July, The New Yorker took notice of Bored Apes taking over Twitter, formalizing the assets “status” in the digital world. In August, the average sale price for a Bored Ape went up to $89,602.26 from $13,769.52 from the previous month. 

(3) An “OG” Community Base 

It may seem silly, but those who were involved in NFTs in April, May, and June entered the market at a really ripe time before it exploded. Many projects at the time were affordable and have since gone up in value significantly. 

This is pure theory, but it likely means 2 things: 

(1) There are Bored Ape holders revered for their NFT prowess and thus become influencers (even if they don’t promote the project) 

(2) Early Bored Ape holders are more likely to have ETH capital out of sheer market-wide appreciation 

Again, this is a theory. It may be completely inaccurate, but I’ve seen this pattern in other Discords. People look to those who have been successful for advice and watch what they buy (and copy it if they can afford to). It’s more likely that those involved in those months had some better luck getting into NFT projects that have appreciated in value significantly. 

(4) Ethereum (Ether) Lost Value 

Ether (the currency for the Ethereum blockchain) peaked in May, nearly reaching $4,000 before dipping below $2,000 in late June. Anecdotally speaking, when the price of Ether rises, NFT sales seem to slow down. It’s harder and more expensive for new people to obtain Ether and people likely seek liquidity to invest in the rising asset. 

When you invest in NFTs, this is a dynamic you need to be aware of. Ether is still an investible asset and the market may view it as more valuable than parking it in NFT projects, which can quickly become illiquid (you can instantly sell Ether, but you may need to wait to sell your NFT). 

The average sale for a Bored Ape increased 360% from May to June, from 0.6985 ETH (~$2,794) to 3.21 ETH (~$6,420). 

It’s worth noting that there were 3,269 unique buyers of Bored Apes in May and 2,347 in June, which was significant distribution and nearly 10% of active wallets on Opensea. 

(5) Exploding NFT Market 

From April 2021 through January 2022, the Bored Ape Yacht Club hasn’t seen a dip in the average sale price of its assets: 

April: $313.07

May: $2,081.48

June: $7,470.43

July: $13,769.52

August: $89,602.26

September: $166,679

October: $170,016

November: $219,506

December: $253,261

January: $295,446.13

It took Bored Ape Yacht Club 4 months to blow up.

The project has increased in value for 9 straight months. This is an atypical behavior: usually, we see increases followed by some correcting dips. 

Active wallet activity steadily increased during this time period, reaching 116,000 at the end of August, and there were a few record CryptoPunk sales in August and Visa even jumped in with a CryptoPunk purchase . 

BAYC had 4 months of distribution before the market got really hot, and I believe (again, apart from the art and vibes, which is a big part of the equation) that being “early” and establishing their community put them in a perfect position for the market to place a premium on the assets. 

There were many different social proof entry points as well — athletes buying the project, features in magazines like The New Yorker, that provided an additional marketing and awareness boost for the project. 

(6) Behind The Creators of Bored Ape Yacht Club

Yuga Labs was founded in February, and all four of its creators are anonymous, yet they are on pace for nearly $1 billion in revenue within a year. Yuga is named after the villain in Zelda whose power is turning himself and others into two-dimensional art. The founders are all real-life friends from different backgrounds - Jewish, Cuban, Turkish, and Pakistani.

They started working on Bored Ape Yacht Club in February of 2021 and now have 11 full-time employees working on the project.

Typically, I would not advise buying a project from anonymous founders, as we’ve seen projects crumble because creators lied about who they were. 

Since Bored Ape Yacht Club has blown up, the founders have shared more about themselves. You can read their Q&A with Farokh here .

Two of the founders were friends and used to drink together and discuss writers while living in Miami. One was in a Master of Fine Arts program and both were keeping an eye on crypto in 2017. 

They wanted to get involved but weren’t technical. They were creatives and storytellers. 

Once NFTs arrived, they saw an opportunity to get involved and they partnered with two other founders who could help with the technical aspects. The founders spoke about their online gaming background in MMPORGs (massive multiplayer online role-playing games) and how that led them to see an opportunity in digital assets.

The female artist who designed Bored Ape Yacht Club, received a million-dollar bonus for her work also released sketches of the first Bored Ape designs:

Source: Twitter

These are the first designs of Bored Ape Yacht Club that would later become one of the most recognizable power-house NFT projects in a short amount of time.

(7) Commercial Rights

Earlier this month (December) a well-known CryptoPunk holder, Punk4156 decided to sell off a high-value collection because CryptoPunk holders are not granted commercial access rights to their assets.

Bored Ape Yacht Club is an established brand, and is recognized as a top income-earner of any talent on earth. If you consider musicians, artists, actors, and actresses as talent, Bored Ape Yacht Club joins this elite club.

There's a play-to-earn game on the way using the brand. Neil Strauss (The Game), a world-famous author (10 Best Sellers) is going to write a book about Bored Ape Yacht Club. Adidas partnered with Bored Ape Yacht Club.

Not only does owning a Bored Ape asset put you in an elite company, but it also gives you ownership of an asset in one of the fastest-growing brands in the world.

You own the talent, and you could use it however you please. Want to have your asset featured in a commercial for a local company? You could charge for that. Want to have a major brand sponsor your Bored Ape asset? You could charge for that.

Do you want to create a clothing line featuring your Bored Ape asset? You could start a business with the asset as your brand.

One Twitter user , a holder of Bored Ape, created Bored Ape IPA and used his asset to brand the can:

As the Bored Ape Yacht Club brand continues to go off, so will opportunities for its holders to make royalties and payments for the use of their assets.

(8) How to Check Rarity of Bored Ape Yacht Club

As Bored Ape Yacht Club has grown in popularity with more and more celebrities like global soccer star Neymar (55 million Twitter followers) buying Bored Apes it’s fun to look at the rarest assets in the project.

You can check the rarity of a Bored Ape NFT by going to Rarity.Tools, searching for the Bored Ape Yacht Club collection and typing in the asset ID from OpenSea. 

Below, we’ll look at the top 21 rarest Bored Ape Yacht Club NFTs on Rarity.Tools: 

Source: Rarity.Tools

If you want to look up a specific Bored Ape for its rarity ranking, you can type in the asset ID from OpenSea on the left-hand toolbar right under the project name. 

You can also click into an asset on Rarity.Tools to see what impacts its rarity ranking.

According to Rarity.Tools, Bored Ape #7495 is the rarest NFT in the project: 

In this case, the combination of “Bored Dagger”, “Cyborg”, a “Cross” earring, and other traits make this Bored Ape the rarest asset in the collection. 

Note: the market may not always buy purely based on a Rarity.Tools rank. As you can see in the previous picture, there are lower-ranked Apes with unique attributes that may fetch more value on the market purely due to personal preferences. 

If you want a second opinion on rarity, you can head over to RaritySniper and search for the Bored Ape Yacht Club rarity rankings : 

Source: Rarity Sniper 

These rankings are largely the same, but there are subtle differences worth exploring if you’d like to go deep on the rarity of Bored Ape Yacht Club. 

There were a lot of factors that contributed to the success of BAYC, but beyond timing and the NFT market maturing before our eyes, the team told a killer story through art and has continued to deliver value to the project’s holders. 

It will be fascinating to see how widespread the Bored Ape brand becomes as holders take advantage of their commercial rights. 

James KIllick

Jimmy Grow | Product Wizard

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Unraveling the Bored Ape Yacht Club (BAYC): The Exclusive Ethereum NFT Phenomenon

Table of contents

1- understanding the bored ape yacht club phenomenon, 2- the genesis of bored ape yacht club: a brief history, 4- the value proposition of bored ape yacht club nfts, 5- celebrity endorsements and their influence on bayc’s popularity, 6- beyond the cryptocurrency hype: why bored ape yacht club is more than just an nft collection, 8- a step-by-step guide on how to buy bored ape tokens, 9- the future outlook of bored ape yacht club: what to expect, 10- key takeaways: the impact of bored ape yacht club on the nft landscape.

Dive into the unique world of blockchain and non-fungible tokens (NFTs) as we explore one of the most influential and exclusive NFT projects, the Bored Ape Yacht Club (BAYC). Built on the Ethereum blockchain, this article uncovers the ins and outs of BAYC, its value, and why it has taken both the art and crypto market by storm.

The Bored Ape Yacht Club (BAYC) is one of the most popular and influential “non-fungible token” (NFT) projects in the cryptocurrency and blockchain space. Launched in April 2021 at the height of the NFT mania, BAYC has captured the fascination of collectors, investors, celebrities and crypto enthusiasts alike. But what exactly is behind this unique Ethereum-based NFT collection and what makes it stand out?

In simple terms, the Bored Ape Yacht Club is a collection of 10,000 unique digital collectible artworks called “Bored Apes”. Each Bored Ape is a distinct NFT on the Ethereum blockchain, with different attributes and properties that set it apart. Ownership of a Bored Ape NFT provides admission to an exclusive online club for holders, with various perks and benefits.

Beyond just the art, there is a mystique around being part of this elite club, which has fueled the popularity of BAYC. The project represents more than just JPG images – it is seen as an identity, a digital flex, and for some, even a status symbol. With celebrity endorsements, intriguing roadmaps, and major partnerships, BAYC has cemented itself as a cultural phenomenon at the intersection of art, crypto, and wealth.

But how did it all start and what exactly makes this NFT collection so special? Let’s dive deeper into the origins, unique traits, value factors, and the larger impact of the Bored Ape Yacht Club craze.

The Bored Ape Yacht Club was launched in April 2021 by four friends based in New York – Gargamel, Gordon Goner, Emperor Tomato Ketchup, and No Sass. The founders set up an LLC called Yuga Labs to officially register the project.

Yuga Labs promoted the Bored Ape NFT collection through social media hype and influencer marketing in the NFT community. The price for minting a Bored Ape at launch was 0.08 ETH (around $190 at the time).

Initially, sales were sluggish as buyers were still warming up to the idea of paying for algorithmically generated cartoon JPEGs of apes. But momentum picked up as early adopters helped spread the word, and the entire collection was sold out within 12 hours. By the end of the first month, the floor price of Bored Apes had shot up to around 3 ETH.

As BAYC gained traction, Yuga Labs expanded the franchise with added benefits like exclusive merchandise for owners, as well as launching additional NFT collections like the Mutant Apes and Bored Ape Kennel Club. Celebrity endorsements from the likes of Eminem, Snoop Dog and Jimmy Fallon gave it even more credibility.

Today, Bored Ape Yacht Club is one of the most sought-after NFT projects with a total valuation crossing $1 billion. The floor price of Bored Apes currently hovers around 80 ETH ($100,000), a mind-boggling increase from its modest launch price. Let’s look at what makes this project stand out.

3- Unique Aspects That Make Bored Ape Yacht Club Stand Out

So what exactly gives BAYC its vaunted status and desirability in the NFT space? Several key traits set this collection apart:

• Limited Supply and Scarcity: With only 10,000 Apes in existence, BAYC combines digital scarcity with exclusivity. This drives up demand among collectors seeking limited edition NFT art.
• Randomly Generated Traits: Each Bored Ape has a unique combination of traits mapped to different levels of rarity. This includes fur, clothes, expressions, and more. Some traits like golden fur or laser eyes are ultra-rare.
• Membership and Community: Owning a Bored Ape provides access to the BAYC club full of events, benefits, and an exclusive community of fellow owners. This lived experience adds value beyond just the NFT itself.
• Interoperability and Evolution: BAYC owners can use their Apes as profile pictures across platforms like Twitter, Discord, Instagram etc. The NFTs can also evolve into other forms like Mutant Apes, increasing their utility.
• Celebrity Power: High-profile figures like Post Malone and Steph Curry flaunting their Bored Apes adds to the flex appeal. The association with celebrity gives the collection more exposure.
• Team: The founders’ grasp of community-building and delivering new opportunities like the Other Side metaverse land sale have built confidence in BAYC’s future roadmap.

These ingredients create a perfect storm of hype, social capital, and financial upside that feeds into the desirability surrounding Bored Apes. But do the high price tags actually make sense? What is the real value of these NFTs?

On the surface, it may seem absurd that digital images selling for thousands (if not millions) of dollars. But a confluence of factors provides the logic behind Bored Ape valuations:

• Scarcity: With a finite supply of just 10,000 tokens, laws of economics like limited supply and excess demand apply and drive up prices, as more buyers chase fewer Apes.
• Social Status: Much like luxury fashion or exclusive club memberships, owning a Bored Ape is seen as a status symbol and gets you social clout. This drives desirability.
• Community: Access to an elite club with coveted benefits like exclusive parties, merch, and connections is valuable to many. Owning an Ape unlocks this.
• Personal Branding: The cool and unique art allows owners to stand out and enhance their personal brands when used as profile pictures on social media.
• Speculation: The hype and past price action draws speculative investors who bet on BAYC’s brand increasing in value over time, as it continues expanding into new verticals.
• Passive Income: BAYC owners can also earn income via royalties from sales in the secondary market. The NFTs hence hold long term monetization potential.
• Future Roadmap: There is anticipation around future launches like the upcoming Otherside metaverse land sale, which further boosts current valuations.

The above factors create tangible utility and benefits that justify the high cost of entry for new buyers. Celebrities have further propelled the Bored Ape craze and added to its appeal.

A huge catalyst behind Bored Ape Yacht Club’s meteoric rise has been celebrity endorsements from top names. The association with fame gives BAYC immense clout and has made it go viral.

Some prominent celebrity BAYC owners include:

• Eminem – The iconic rapper bought a Bored Ape worth $452,000 in January 2022 and announced it in a viral tweet, causing a big surge in value.
• Snoop Dogg – The legendary rap artist bought a Bored Ape NFT for $3.9 million in September 2021 at a Sotheby’s auction.
• Steph Curry – The NBA superstar bought a Bored Ape for about $180,000 and proudly set it as his profile picture on Twitter.
• Post Malone – The popular singer owns several Apes and even named his 2021 tour “The Twelve Carat Tour” after his diamond-handed Bored Ape #3447.
• Jimmy Fallon – The popular TV host showed off his Bored Ape during an episode of The Tonight Show, thanking the creators for his “cool” NFT.

Such endorsements from A-listers have magnified BAYC’s public image and acted as organic marketing. The exclusivity of an elite club that even celebrities aspire to be part of has added to its appeal for investors and collectors alike.

However, there is more substance to the Bored Ape phenomenon beyond just the NFT images and hype cycle. There are deeper cultural impacts.

While the multimillion dollar price tags and celebrity associations have fueled the Bored Ape Yacht Club mania, there are deeper sociological implications. At its core, BAYC represents a new model of decentralized brand-building and online community shaping popular culture.

New Social Scene: BAYC has created a digital members club where ownership of NFT acts as access pass to an exclusive network full of events and perks. This provides a novel social scene.

Flex Culture: The Bored Apes are essentially trophies or artworks that people display to project their identity and status. This notion of flexing has become integral to hypebeast culture.

Digital Identity: Using Apes as social media profile pictures allows owners to express their digital identities through the NFT art and be part of a distinct in-group.

Belonging: Being part of the BAYC private Discord channels and in-real-life meetups offers a sense of belonging and shared identity with fellow owners.

New Economy : BAYC pioneered new crypto economics like using smart contracts to automate royalties from secondary sales paid to owners. This engendered a new creator model.

While critics may dismiss BAYC as overhyped JPEGs, the project has shown how savvy community-building, smart contract coding, and understanding internet culture can create value and shape society. However, there are also inherent risks for investors.

7- The Potential Risks and Rewards of Investing in Bored Ape Yacht Club

The Bored Ape Yacht Club has been one of the most lucrative NFT investments since launch, with floor prices rising hundreds of times over. But such upside comes with its fair share of risks:

• Volatility: As with cryptocurrencies, NFT values are highly volatile and can dramatically crash if speculative demand disappears. This downside risk remains ever-present.
• Hacking: Storing NFTs on crypto wallets creates potential security risks if hackers gain access. Many sites hosting wallets like OpenSea have faced breaches.
• Intellectual Property: The unregulated nature of NFTs creates IP risks if disputes emerge over who truly owns certain digital assets.
• Platform Risk: If the Ethereum blockchain were to somehow suffer network issues, the very existence of BAYC could be under threat since it relies on it as its foundation.
• Competition: As more NFT projects vie for attention, BAYC may lose its lustre and first-mover advantage to newer collections diluting its appeal.

However, the rewards can be just as substantial:

• Wealth Upside: Those who got in early have realized incredible gains as floor prices shot up from 0.08 ETH to 80+ ETH now, representing major wealth creation.
• Monetization: BAYC owners earn royalties from all secondary sales in perpetuity, providing passive income streams from the NFT’s monetization.
• Exclusive Access: Entry to the BAYC club with events, merch, and networking represents lucrative perks that come with ownership.
• Flex Appeal: The social clout, personal branding, and identity shaping enabled by owning such a coveted NFT collection has its own value.
• Future Potential: BAYC’s expanding roadmap and new upcoming metaverse and experiences could further boost utility and valuations.

For investors willing to stomach the volatility, Bored Ape Yacht Club offers enormous wealth creation potential. But how does one actually buy into this exclusive NFT club?

Given the price tags now in the six figures, investing in Bored Ape Yacht Club requires deep pockets. But the path to ownership is relatively straightforward:

• Step 1: Get a Crypto Wallet: To hold NFTs, you need a digital Ethereum wallet like MetaMask. This stores crypto assets and NFTs on the blockchain.
• Step 2 – Fund Your Wallet: Transfer sufficient ETH from an exchange to your wallet to cover the cost of the Bored Ape plus transaction fees on Ethereum.
• Step 3 – Join an NFT Marketplace : Marketplaces like OpenSea allow buying and selling of NFTs. Create an account there and connect your funded wallet.
• Step 4 – Browse Listings: Search for available Bored Ape listings and filter based on desired traits, features, and prices. Set alerts for new listings.
• Step 5 – Place Your Bid: When ready, make an offer on your chosen NFT. Be ready to bid competitively given high demand.
• Step 6 – Confirm the Sale: If your bid is accepted, you’ll get a confirmation request in your connected wallet. Approve it to complete the NFT purchase.
• Step 7 – See Your New Ape!: Once the transaction processes, you’ll see your new Bored Ape NFT in your wallet. Congrats on joining the club!

Remember, only 10,000 Bored Apes exist. So you’ll have to hunt for available listings and be prepared to pay premium dollar given the exclusivity.

The Bored Ape Yacht Club phenomenon seemingly took the crypto world by storm out of nowhere. But this could just be the beginning of its broader ambitions. Several upcoming developments could further cement its legacy:

• Expansion into metaverse virtual land and official games could provide more utility to Bored Ape NFT holders. Yuga Labs’ Otherside metaverse Project is hotly anticipated.
• More celebrity partnerships and endorsements would spread further global awareness beyond just crypto circles into mainstream pop culture.
• Potential media and entertainment deals to leverage the Bored Ape IP in movies, TV shows, music videos or other content formats would take the brand into new verticals.
• Collaborations with major luxury brands could enable innovative phygital (physical + digital) products broadening BAYC’s appeal.
• Geographic expansion beyond western markets into Asian and Latin American countries with emerging web3 scenes.
• Growth of the community-owned model into other collectibles like the Bored Ape Kennel Club dogs already hints at future proliferation.

Yuga Labs holds the keys to taking BAYC into its next stage of evolution. But regardless of what’s to come, there are important conclusions to draw from its journey so far in shaping the NFT landscape.

The runaway success of Bored Ape Yacht Club as one of the preeminent NFT brands has revealed several insights about the emerging dynamics of the metaverse:

• NFTs can create real economic and social value through smart community-building beyond just being digital artworks.
• Celebrities and influencers will continue playing kingmaker roles in amplifying select NFT projects to drive hype and adoption among mainstream audiences.
• Social capital, status signaling, and virtual identities are intangible factors that contribute as much to NFT valuations as technical traits.
• Creative monetization models like royalties and phygital merch represent new intellectual property crossovers.
• The concept of metaverse “land” sales as seen with Otherside suggest virtual real estate may grow as an asset class of its own.
• As more fortune 500 brands enter web3, expect to see NFTs and the metaverse intersecting with commercial pop culture.

Bored Ape Yacht Club and its associated ecosystem of NFTs have made clear that we are entering a new paradigm for how culture is created, consumed and monetized online. 

conclusion:

The technology and economics may seem esoteric today, but virtual communities with real impact represent the way of the future. So for those intrigued by this 21st century alchemy of art and crypto, a Bored Ape could be your ticket to access this brave new world being shaped by NFTs. Welcome aboard!

Written by © HEX Teach

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THE BORED APE GAZETTE

#1 name in bored ape news .

• Jul 24, 2023

LICENSE TO BUILD: The Bored Ape Yacht Club's 'Made By Apes' Program Is Live

The bored ape yacht club’s ‘made by apes program’ is live and apes can now apply for a license to build their brands with a stamp of authenticity from yuga labs, on monday, the bayc announced that its highly anticipated ‘made by apes program’ has launched and that members of the community can now ape in, “made by apes is here,” the club tweeted this evening. “members can head to https://madeby.yuga.com/apes to request a license now. we're proud to introduce this first-of-its-kind on-chain licensing for a club full of builders, done in partnership with @saasylabs.”, bayc members who are building in the swamp can now apply for a made by apes license., “made by apes empowers holder-creators of bayc and mayc nfts by verifying, supporting, and amplifying goods or services they offer using their bayc and mayc nfts,” yuga labs wrote on the made by apes website. “the made by apes program authenticates that licensees own a bayc or mayc nft and grants a license to use the yuga-made made by apes logo in connection with their products or services.”.

This License will give Apes’ products and services more legitimacy as Yuga Labs confirms via on chain data that these goods are in fact ‘made by Apes!’

Further, BAYC members who obtain a license will also receive a customized ‘Made by Apes’ logo with a license number that Apes can use in connection to their Yuga Labs approved endeavor!

Along with a custom logo for their ‘Made by Apes’ business, BAYC members who join the program will also have their goods and services showcased in Yuga Labs’ online Bodega.

“the bodega will display all made by ape licensees,” yuga labs wrote on its made by apes website. “you will be able to browse through other bayc and mayc community built products that use their bayc and mayc nfts to build their brand. it is also a great way to check if a product with a made by apes logo has a valid license. the bodega and the made by apes logo are not an endorsement of the projects/products displayed. the bodega will be launched later this summer.”.

BAYC members who are interested in being apart of the Made by Apes program can request a license here: https://madeby.yuga.com/apes/license

The bored ape gazette is working to bring you additional coverage of the made by apes program. stay tuned for updates.

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Bored Ape Yacht Club: The Ultimate Guide

There is a local band I loved and followed in college. It is said that the unique name, Love Seed Mama Jump, was created by the four core band members tossing a word into a hat. The order the words came out would be the band’s name, and all four agreed to this naming concept after being unable to create one in any other way.

It is a random story like that which could almost explain the bizarre pairing of words in the “ Bored Ape Yacht Club ,” but even that doesn’t even begin to scratch the very, very strange surface of this NFT project. The four words aren’t as randomly arranged as one may think at first glance.

Once you dig a bit into this unique world of buying, selling, and trading of NFTs , it begins to make some more sense; maybe not a lot of sense, but some. And, bare with us; we swear this is not being made up and is, in fact, a popular and well-funded endeavor.

We should forewarn you, there are phrases in this explanation that will make your “puzzler puzzle” as Dr. Seuss would say, but we promise, it is happening. If you want to at least try to understand what words like Ape, Yacht, Club, and Bored have to do with one another, dive in. Just hold on, because it’s going to be a bumpy ride. Don’t say we didn’t warn you. This is no smooth-sailing yacht, to be sure.

Table of Contents

An NFT Project

First and foremost, the Bored Ape Yacht Club is an NFT project. NFT, which stands for non-fungible token, means it is a token or something that represents something else. Typically, non-fungible tokens represent ownership of something that is unique, unmatched, and that cannot be replaced with an exact copy. Non-fungible simply means that it cannot be swapped for another. There is no exact duplicate.

Frequently, NFTs are digital in structure. They can be a digital files such as a .jpg, .png, or .gif file. They can be video files or include movement or action. However, as the NFT evolves in an ever-changing and very much still growing industry, it has also come to take on a role to represent real-life, tangible objects such as real estate or vehicles.

In the case of the Bored Ape Yacht Club, the NFT of choice is a series of bored ape images. Yes, you read that correctly. Go ahead, and do it again. Reread that. We’ll wait.

Yes, the NFTs involved in business transactions which have netted users nearly half a million dollars, revolve around digital images of fake monkeys.

If you choose to partake in the buying, selling, and trading of bored apes, then the Bored Ape Yacht Club is for you. Here, the NFTs are not only the tokens being traded but also a sort of membership card that allows you into the club.

Self-described on its own website as a “limited NFT collection where the token itself doubles as your membership to a swamp club for apes,” the Bored Ape Yacht Club includes 10,000 unique images. The images themselves are of apes, strangely dressed in an assortment of colorful costumes, posed in a headshot, mid-chest, and face-only, profile photo of sorts.

Yes, that’s right. People are buying headshots of fake monkeys. On purpose.

“The club is open! Ape in with us,” states the site. In other words, those who own an ape (the NFT) can also participate in the swamp club.

The Ethereum Blockchain

This rather strange use of technology has been created on the Ethereum blockchain. This blockchain, which uses a native cryptocurrency called “ether” (ETH) on its platform, is a decentralized, open-source blockchain with smart contract functionality.

In the world of cryptocurrencies, Ether is second only to Bitcoin in market capitalization, showing the popularity of Ethereum overall. Ethereum, which was launched in 2013, was created originally by a programmer named Vitalik Buterin.

Buterin decided to allow others to have access to the same “tools” so to speak in order to create NFTs , crypto, games, sites, and more. Allowing other programmers access to the blockchain means that the tech (via smart contracts ) is open for use, and clearly, many have come up with some pretty unique ways to create value in the space since its inception.

The Swamp Club and a Bathroom

So, now you have an NFT of an interesting face of a reportedly bored ape, but what’s that mean. In addition to an investment as an NFT alone, it is also membership to The Swamp Club. But, what is this club, and who cares if you have a membership?

Owing a bored ape means not only do you have a unique NFT no other person can own, but you also have the coveted “membership card.” This “card” grants access to owners of the NFT to members-only benefits, the first of which is access to “The Bathroom.”

Yes, that’s correct, again. Bored apes were not a strange enough topic to discuss. We thought they could also be in a club, you know, with yachts, in a swamp. And, yes, your exclusive access will also get you into a restroom-like, virtual facility. And this is a place you truly want to be. I swear, we are not making any of this up.

The Bathroom is a collaborative graffiti board of sorts. Approximately 6,300 users own the 10,000 unique NFTs that make up the collection of bored apes. Only those 6,300 or so owners can create art on the board.

Other “club benefits,” include access to other future areas. Also, the ape owners can have access to perks, which can be unlocked by the community through roadmap activation within The Swamp Club.

But Wait, There’s More: The Bored Ape Kennel Club

Yep. This wasn’t weird enough. There’s more. Let’s add dogs!

“It gets lonely in the swamp sometimes,” states the Bored Ape Yacht Club website. “That’s why every ape should have a four-legged companion. To curl up at your feet. To bring you a beer. To fire a missile launcher at that bastard Jimmy the Monkey.”

Yep, that’s right. Now your very own Bored Ape can have a pet dog, too. I swear this is a thing.

“That’s why we’ve started the Bored Ape Kennel Club, and why we’re offering up a dog NFT for adoption to every single member of the Bored Ape Yacht Club – for free (you only pay gas),” reads the Bored Ape Yacht Club website.

In fact, you don’t have to own an ape to purchase a dog. And, at the start of the project, the transactions of such dogs went to a good cause!

Any royalties the company made, after the covering of transaction (or gas) fees, were donated to no-kill animal shelters. However, now royalty fees are not being collected at all.

At the time of publication, 9,300 such dogs have been claimed for their prospective Bored Apes, leaving nearly 700 still to be generated. Only an owner of a Bored Ape NFT can currently own a Bored Ape Kennel Club pup. It is no longer a capability to mint your own dog, but you can purchase them on secondary markets.

The dog itself is another NFT, creating another revenue stream potential, not to mention the chance for users to invest and own another unique piece of digital art.

Mutant Ape Yacht Club

It is like a bad infomercial. But wait … there’s more!

In addition to its unique 10,000 apes, the collection is growing. A new addition was made to the “ape market” including a set of “mutant ape NFTs” that has come into play with the Mutant Ape Yacht Club. The same makers of the BAYC NFT have created another addition to its project by mutating its own apes.

According to Bored Ape Yacht Club, a Mutant Ape can only be created by exposing an existing Bored Ape to a vial of “Mutant Serum,” or by minting a Mutant Ape in the public sale marketplace. With an additional 20,000 NFTs and at least two spin-off NFT collections to its name, the bored apes have amassed quite the popularity.

Why Own a Bored Ape?

It may seem strange to most. Why would anyone want to purchase a digital image of an ape at all, forget paying thousands or more for the honor? But, there are many reasons people are finding to jump into the world of NFTs, and the Bored Ape Yacht Club is no different.

Some Big Names In Bored Apes

If the unique opportunity to own a digital image of an interesting ape face didn’t intrigue enough, rubbing elbows in The Swamp Club with some pretty big names just might. Since its start in April of 2021, the Bored Ape Yacht Club has boasted members such as Eminem, Paris Hilton, and Jimmy Fallon.

That’s right, a staple of the late-night comedy scene owns a bored ape, and he paid $200,000 for the privilege. In defense of Jimmy Fallon, sort of, his ape has an adorable captains hat and heart-shaped sunglasses, so I suppose if one has $200 grand to blow on such a thing … it isn’t the strangest of the collection.

Yes, now that I’ve typed that sentence, I see how strange the entire concept once again seems. If it were not for the already strange and unusual world of NFTs, it would almost seem out of place to discuss monkeys wearing captain’s hats and their digitized images being sold for hundreds of thousands of dollars … right!?

Eminem has joined the likes of Adidas sporting goods in donning a bored ape NFT as his Twitter profile picture . Others simply own them to enjoy them. Clearly having your name among such owners is exciting and seen as a status symbol to many, especially in the crypto community.

Others, celebrities most included, like having the digital identity tied to a famed NFT. Having an account is a status symbol for some, but also the idea of using monkey heads as your user avatars is fun, too.

Bragging Rights, Of Course

Like most collections of NFTs of this sort, the project-based, mass-produced “trading card-like” type, there is a rarity to the types of apes you can get your hands on. While each of the 10,000 individual apes is completely special, and not a copy of another, there is a rareness to certain attributes. But is that enough to make you want to fork over the money?

From unique hats and accessories like sunglasses to different haircuts, backgrounds, and clothing styles, there is value to some in strictly the ownership of the “most fun” or “most strange” or, well, almost anything you’d like out there on the marketplace. The internet is full of such oddities, and the NFT itself is valuable because of the phenomenon.

Like most NFT projects, part of what makes such the Bored Ape Yacht Club collection fun to own a piece of is strictly that uniqueness. Another part is owning something no one else can. Once an NFT is sold to its owner, that individual has all rights to it. It can only be verified, purely, and authentically owned by that single person.

Ironically, being in a group or circle of exclusive members is the flip side of that same “token,” making it a rather funny point. Those that are supposed to seek the most unique pieces are also constantly looking to belong. Bored Ape Yacht Club can do both for its owners.

The Benefits for Owners

Owning NFTs can also be a fun and exciting venture. It isn’t just about investments and figures. Instead, some owners of the Bored Ape Yacht Club NFTs do so strictly for the benefits. Some of those top perks include:

• Access to exclusive events both online and in the real world
• Private invites to events such as Ape Fest
• Ability to buy members only merch
• Currently resells on eBay and StockX for a premium
• The $APE token: dropping in Q1 2022 which will also provide future governance of the club and could be highly lucrative

There are clearly benefits to the NFT project unique in the ever-changing marketplace . Whether you enjoy online perks or an in-person event, such as the inaugural Ape Fest, hosted in November 2021, which required guests to obtain timed wristbands just to tame a crowd of over 700 people, there are plenty of benefits to owning these NFTs beyond the immediate financial value.

The Future Looks Bright

A Bored Ape sold in January 2022 for over $1.3 million dollars, while another with gold fur and laser eyes, (which are both considered rare and hard-to-find traits) clocked in with a $3 million dollar price tag. The value placed in such NFTs seems to have no end, and users are handing over the cash, at least for the time being, to be a part of the scene.

Additionally, in January 2022, the Bored Ape Yacht Club released a mobile game revolving around the bored ape NFTs . A seven- and ten-day, live series of gaming events was focused on these owner-access-only games, which of course has added interest in ownership, which in turn drives up the price of such NFTs.

While no one can say for certain where things like the art of the Bored Ape Yacht Club are headed, this NFT collection certainly seems to have no end in sight when it comes to growth. Finding unique and fun ways to use the NFT , beyond a funky profile picture, has brought a revenue stream right along with it for these ambitious developers.

The brand has clearly found early success with the NFT project loving the app from its beginning . Continued success has grown bit by bit as the app brings new additions to its platform, creating new excitement, more product, and of course added revenues along with its budding idea stream.

It is obvious this is just the beginning for bored apes and their successful yacht club. And, I can honestly say those are words I certainly never thought I’d type together in a meaningful sentence ever in my life.

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Bored Ape Yacht Club NFT Review: Team, Utility, Roadmap, And More

The Bored Ape Yacht Club (BAYC) sits among the best NFT projects in the entire space today. Institutional investors and celebrities have been investing in both the company and its NFTs, placing the project in mainstream media countless times. Join us as we take a deep dive into this behemoth of an NFT collection.

Table of Contents

What is the bored ape yacht club all about.

The BAYC NFT collection features 10,000 unique Bored Ape NFTs, doubling as a ticket into one of the most exclusive communities in the NFT space. In April 2021, the team set aside 30 apes and released the rest of the NFTs into the market at a flat 0.08 ETH. This collection differentiated itself from CryptoPunks by giving ownership and commercial usage rights to the NFT owners, which the community appreciated dearly.

The Bored Ape Yacht Club has evolved from a 10k pfp project into a dominant NFT ecosystem with creative NFT drops, cryptocurrencies, and even their own metaverse project. Their success paved the way for many new NFT projects, creating a historic NFT bull run together.

Who Is Behind The Bored Ape Yacht Club NFT Collection?

Yuga Labs , the company behind the Bored Ape Yacht Club was founded by two friends, Greg Solano and Wylie Aronow. They then onboarded two software engineers, Kerem and Zeshan, to help them create the NFT collection. The 4 co-founders are now running the show, along with manager Guy Oseary.

Most recently, the company raised $450 million from Andreessen Horowitz, effectively valuing the company at a whopping $4 billion. Other prominent backers include FTX, MoonPay, Animoca Brands, and many others.

Bored Ape Yacht Club Official Links

BAYC website: https://boredapeyachtclub.com/

BAYC Twitter: https://twitter.com/BoredApeYC

BAYC Discord: https://discord.com/invite/3P5K3dzgdB

BAYC Instagram: https://www.instagram.com/boredapeyachtclub/

BAYC YouTube: https://www.youtube.com/channel/UCB6R9NAjkgxQi_QEkc4O25Q

What Is The Bored Ape Yacht Club Utility?

Bored Ape Yacht Club NFT holders have received many goodies, especially those that have held on since the very beginning. Firstly, each of the 10k Bored Apes received a canine companion from the Bored Ape Kennel Club (BAKC). These dogs were selling for more than 10 ETH at one point, handsomely rewarding the early adopters. Most importantly, the royalty fees from the secondary market were donated to Wright-Way Rescue, a non-profit organisation focused on rescuing homeless pets.

In addition, each BAYC NFT holder also received a vial of Mutant Serum. When a Bored Ape is exposed to the serum, a Mutant Ape is formed. This gives existing holders an entirely new NFT, while welcoming new members to the community at a lower entry price. Currently, the MAYC NFT collection has a floor price of 19.49 ETH, and is one of the top 3 NFT projects by all-time sales volume.

In March, Yuga Labs announced the launch of their own cryptocurrency token: ApeCoin. Holders of BAYC were eligible to claim free ApeCoin tokens, rewarding them for their loyalty to the project.

Recently, the holders of BAYC and MAYC NFTs also received their Otherdeeds land NFTs, which is part of the new Otherside metaverse project. Each land NFT contains a unique set of resources that can be used in the game later on. And for the lucky few, their land may even contain a Koda NFT, which is essentially a race of celestials in the Otherside metaverse.

Besides these airdrops, holders are regularly invited to exclusive parties such as the annual ApeFest and other in-person events. The recent ApeFest 2022 was held at Pier 17, New York on June 20-23, 2022.

The Bored Ape Yacht Club NFT Roadmap

The initial BAYC roadmap has been completed and Yuga Labs is now moving on to greater things. All hands are on deck for the Otherside metaverse project and the apes are extremely excited. The team is now conducting their first test with the codename ‘ First Trip ’.  With the help of Animoca Brands, Yuga Labs is developing an immersive 3D environment where users can interact simply through their Chrome web browsers. It should also feature real-time voice chat and spatial audio to boost the user experience.

The Bored Ape Yacht Club Sewer Pass

Yuga Labs recently announced a free mint for BAYC and MAYC holders for a “Sewer Pass NFT”. The Sewer Pass basically gives owners access to a game called Dookey Dash, a browser based game which instructs holders to reach a score above 0 to validate their pass and transform them to a mysterious power source. Based on the project’s roadmap, the whole experience will be part of a bigger project called “Chapter 1” which will be launched at a later date. The Sewer Pass mint date was supposed to be on 18 January 2023 however due to unforeseen circumstances it was delayed. Overall, a great initiative by Yuga Labs to reward its holders and to build strong brand loyalty.

Bored Ape Yacht Club NFT Price - How Much Do They Cost?

Where to buy bored ape yacht club nft.

You can buy BAYC NFTs on NFT marketplaces like OpenSea and LooksRare.

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Published 13th February 2022

Bored Ape Yacht Club: A Complete Guide

If NFTs are today’s art then Bored Apes are the 21st century's answer to Picasso. The only difference is your digital image doesn’t just live on your wall, it grants you access to the world’s most exclusive social club: Bored Ape Yacht Club.

What is Bored Ape Yacht Club?

Bored Ape Yacht club is an NFT project that consists of 10,000 digital apes, all with differing characteristics and features – the rarity of which decides their value on the secondary market. Some have brown fur, some have leopard print fur. Some are wearing bandanas whilst others are sporting party hats. Some are even holding accessories in their mouth such as pipes and cigarettes. 

The apes were released to the world on April 29th 2021, by the four man team at Yuga Labs . The four creators behind the project chose to go by their internet aliases: Gargamel, Gordon Goner, Emperor Tomato Ketchup and No Sass.

But whilst some NFT projects can be criticised for being nothing more than digital images, the four behind Bored Ape Yacht Club didn’t just come up with an art project, they came up with a fictional backstory including a bar, a bathroom and most importantly 10,000 Bored Apes.

The NFT apes, which live on the Ethereum blockchain, sold out in 12 hours at a price of 0.08ETH (roughly $190 at the time). 

Bored Ape Yacht Club has since gone on to become a trailblazing, blue-chip NFT project which is arguably the most recognisable digital art collection on the blockchain.

How much does a Bored Ape cost?

At the time of writing, Bored Apes have a floor price of 91ETH on OpenSea which is equivalent to approximately $291,000.  

However, the accolade for the most expensive Ape belongs to Bored Ape #8817 who incredibly sold for over $3.4million at Sotheby’s . The enormous value was due to the Ape’s gold fur coating which less than 1% of Apes possess.

BAYC benefits

One of the reasons why the Bored Ape project has taken off so much is the fact that the utility value of owning an Ape is somewhat unrivalled in the NFT landscape.

A Bored Ape NFT doubles as a membership to the world’s most exclusive social club, the Bored Ape Yacht Club. And with that membership comes many benefits.

Mutant Apes

The first benefit of owning a Bored Ape saw owners receive a free NFT upon completion of Bored Ape’s roadmap – a Mutant Ape.

On 28th August 2021 , the project grew further with the introduction, or breeding, of Mutant Apes. Bored Ape owners were airdropped a free mutant serum which could be used to create a mutant version of their ape.

The extent of mutation depended on the strength of the serum, which came in three forms: M1 which was the most popular, M2 which made up about 25% of the serums, and the mega-mutant M3 serum of which there were only 6 airdropped to Bored Ape owners. 

On top of this, a further 10,000 Mutant Apes were available to mint at a price of 3ETH . Six of the 10,000 were Mega Mutants taking the total number of Mega Mutant Apes to 12.

And with just 12 Mega Mutants circulating in a total population of 20,000 Mutant Apes, it’s fair to say the Bored Ape community valued their scarcity. Proven by the sale of one particular M3 serum which went for 1542ETH – that’s just under $6million!

Private Areas

Another benefit that Bored Ape members receive is access to BAYC private areas such as the bathroom.

The BAYC Bathroom is essentially a digital doodle board and is only accessible by having a wallet which contains an ape. The BAYC website states , “Each ape-holder will be able to paint a pixel on the bathroom wall every fifteen minutes. Think of it as a collaborative art experiment for the cryptosphere. A members-only canvas for the discerning minds of crypto twitter.”

As well as the bathroom, members receive access to the Bored Ape private discord where celebrities such as Steph Curry have been known to hang out.

Private events

Taking it one step further, the Bored Ape community have been known to partake in members-only meet ups too.

The biggest of these came at the inaugural Apefest that took place in New York City, kicking off on October 31st 2021. 

The first event of the fest took place in the form of an ape-themed gallery experience at Bright Moments Gallery in NYC. The event was open to the public but was also a chance for Bored Ape members to claim their wristband to the exclusive yacht party that took place later that day.

The yacht party saw 1000 Ape owners celebrate Halloween in style. Verified Bored Ape and Mutant Ape owners were able to receive a free ticket on a first-come, first-served basis. The highly-exclusive party saw celebrity guests including Kygo and OneRepublic’s lead singer, Ryan Tedder.

Private merch drops

Another benefit that the Ape community goes wild for is private merchandise drops. BAYC have dropped clothing and accessories that are exclusive to Ape owners, and this exclusivity has seen the lucky members able to command a significantly higher fee on the resale market.

Just 1000 MAYC skateboards were dropped prior to Apefest with the decks reselling for over 10 times the original price on eBay .

Ownership rights 

(If you’re part of the ‘right click, save’ brigade then this benefit might change your mind.)

Perhaps the best thing about owning a Bored or Mutant Ape is just that: you OWN it!

BAYC and MAYC members receive full ownership and commercial rights of their digital apes. This has seen owners use their NFTs to create their own Ape-inspired merchandise in the form of accessories such as s kateboards  and paintings . One Bored Ape owner has even started his own  craft beer  venture using his NFT.

But none have got more creative than the owner of ape #1798 who is now better known as Jenkins, or Jenkins the Valet. That’s right, one Ape owner has given their ape a full backstory, creating a full persona for what once was, well…a JPEG.

Jenkin’s memoir was put together in true NFT fashion. Jenkins was the star of his own spin off NFT project with owners able to vote towards the story of Jenkins. This included deciding upon the title, genre, plot, and ending of the Jenkins story.

If you’re wondering wether Jenkin’s solo career has taken off, the answer would be a resounding yes. Remarkably, the story of Jenkins is being pieced together by award winning writer Neil Strauss .

And if that doesn’t blow your mind enough, how about the fact that Jenkins has been signed to a talent agency: Creative Artists Agency . That would be the same agency that represents Justin Bieber, Beyonce and Cristiano Ronaldo. So he’s in safe hands for when he starts his journey into the world of film and TV .

Who owns a Bored Ape

Whilst CryptoPunks came first, Apes are seemingly the NFT of choice for the A-listers.

The meteoric rise of Bored Apes—and more specifically their price tag—has given them another form of utility. And that is becoming the newest way for the rich and famous to flex their wealth. 

Steph Curry

One of the most well-known Ape owners is NBA star, Steph Curry. The Golden State basketballer purchased ape #7990 on August 28th 2021. Curry paid 55ETH for his NFT and proudly showed off his Ape as his Twitter profile picture.

Post Malone 

American rapper Post Malone owns not one but two Bored Apes. The award-winning artist spent over $700,000 on ape #961 and #9039 and even featured the former in the music video for song One Right Now .

Eminem was a little later to the party, apeing in on the last day of 2021. He spent 123.45ETH on ape #9055 which some have said shares a resemblance to the rapper himself due to the hip-hop clothes and army hat traits.

Justin Bieber

Like Post Malone, Bieber owns a pair of Bored Apes . The pop star bought his first ape for a whopping 500ETH on 29th January 2022. Not settling for just one, JB bought himself another Bored Ape NFT for 166ETH less than a week later. 

Jimmy Fallon

One of the most viewed clips involving BAYC was Jimmy Fallon’s interaction with Paris Hilton on his US show, The Tonight Show .

Fallon and Hilton compared apes in a segment that likely left many older viewers utterly bewildered. 

The host even came in for criticism from sceptics who believed he was purely hyping the price of his investment.

Not limited to US sports, one Bored Ape found themselves in the possession of Brazilian footballing superstar, Neymar.

Just like Steph Curry, you’ll find Neymar’s Bored Ape proudly displayed on the footballer’s twitter. The PSG star acquired ape #6633 for 159.99ETH.

Future of BAYC

Plans that currently feature on the BAYC roadmap 2.0 include the opening of a real-life clubhouse in Miami, 3D versions of apes for the metaverse and even plans to turn the project into a DAO .

But the most exciting prospect could be the potential to expand into different markets in the future. Just recently, BAYC stepped into the gaming world by launching the  BAYC v MAYC mobile game . The game saw Bored Ape owners battle it out with Mutant Ape owners to win Ape-themed prizes which included a custom pinball machine for the highest ranking Bored Ape and a converted 2002 Honda Accord for the number one Mutant.

This could be a clear sign of things to come for Bored Ape. The project is no longer just an NFT collection, it’s a community. And more than that: it’s a brand. A brand capable of shifting direction and disrupting most markets due its loyal, fanatical following that lap up anything to do with BAYC.

Whilst Yuga Labs will undoubtedly have an impact on the future of BAYC, the decision to give Ape owners full commercial rights of their digital friends truly gives power to the collector. And Jenkins the Valet could’ve given us a sign of things to come. Could NFT owners really turn their JPEG into a modern-day Mickey Mouse? Or even further, a celebrity? Could we see Bored Apes topping the charts? Becoming the face of fashion brands? The star of their own movies? We’ve learnt to not rule anything out in the world of NFTs.

Next Article

The Bored Ape Yacht Club Explained

Historically, NFTs date all the way back to when digital artist Kevin McCoy minted the first NFT art named Quantum in 2014 on the Namecoin blockchain. Since then, hundreds of thousands of NFTs have been minted on Ethereum and other blockchains. NFTs can be a piece of art, GIFs, animation, videos, photographs, music, journals, domain names, etc.

NFTs went mainstream in 2021 and became a recognized niche in the decentralized space. This ushered in many investors as individual creators and companies started launching their NFT projects. One of such companies is Yuga Labs, a blockchain company specializing in NFTs that developed the notable Bored Ape Yacht Club – BAYC. 

What is the Bored Ape Yacht Club?

The Bored Ape Yacht Club is a collection of 10,000 unique Bored Ape NFTs minted on the Ethereum blockchain. Each unique Bored Ape doubles as a membership card to the Yacht Club, making the club exclusive to Bored Apes’ holders. 

When the NFT collection was launched on April 29, 2021, the sales were initially sluggish until May 1, when a notable NFT trader, Pranksy , purchased many Apes. He then informed his followers on Twitter, and his tweets led to selling out within twelve hours, making it to be available for sales afterward on the marketplace where NFTs are publicly traded.

All Apes are unique, but some are rarer than others based in their attributes. Each Bored Ape is algorithmically created from over 170 potential attributes, including expression and wearables like clothing and accessories. For example, the collection has various furs, clothing, jewelry, facial expression, and others. Only 115 Bored Apes have a cross earring, 49 have daggers in their mouth, and 108 have cybernetic eyes as part of their unique traits.

Why are Bored Apes Worth So Much? 

The launch price for Bored Apes was pegged at a fair price of 0.08 ETH – about $190 at that time – so no Ape costed more than others, irrespective of their traits. Three months later, NFTs started gaining more ground, increasing their value.

Then the crypto summer bull run emerged and the price of Bored Ape NFTs shot up by over 400% during August 2021. At the time of writing, the current market cap of BAYC is $1,088,809.041.22 with a 24 hour trading volume of $54,643,948.40 at a floor price of 66.9 ETH each, equivalent to $108,880.90.

The floor price is not necessarily the general price for all Bored Apes; it can be regarded as the lowest price of Bored Apes on the open marketplace where they are listed for sales. Currently, the most expensive Bored Ape is listed at 99,999,999,999,999 ETH which is equivalent to $163,436,999,999,998,370. Some are listed at around 7,000 ETH, 5,000 ETH, 3,000 ETH, etc.

A total of 6,454 unique owners currently hold the 10,000 NFTs in this collection.

Who is Behind the Bored Ape Yacht Club?

BAYC was created by Yuga Labs and co-founded by Wylie Aronow and Greg Solano. The duo was popularly known by their pseudonyms Gordon Goner and Gargamel . They later enlist Kerem aka No Sass, and Zeshan aka Emperor Tomato Ketchup, to form the BAYC in late April 2021. 

Kerem and Zeshan were software engineers, while Gordon Goner and Gargamel were both artists; Gargamel had a Master of Fine Art (MFA) and Gordon Goner dropped out of MFA for health reasons.

Who Drew the Bored Apes?

Unknown to many enthusiasts, the quartet of BAYC were not the designers behind BAYC; they only birthed the idea. An Asian-American artist Seneca, popularly known as All Seeing Seneca , drew the primary characters.

Though she wasn’t familiar with NFTs, Yuga Labs accommodated her and gave her their concept to develop a character. Yuga Labs wanted “Punk Apes” but had no idea what it would look like. 

How BAYC Maintains Relevance 

The BAYC, ever since its launch, has kept its entire community engaged with captivating activities to keep the club alive, rather than boring those who aped (jumped) into their project. Below are the periodical new elements released to its ecosystem to engage members and keep an OG status.

The Bathroom

The bathroom is the first significant engagement with club members. It is a digital replica of a private physical planning board or whiteboard where members can freely write whatever comes to their minds on the wall. The concept behind this private bathroom is to create a shared digital canvas where club members can draw on it, so the bathroom is exclusive to members only.  

The Bored Ape Kennel Club – BAKC

Another intriguing engagement is the dog adoption concept, where each Ape can freely adopt a canine so they don’t feel bored and lonely in the swamp. The Kennel Club allows every Ape to adopt a dog from its club as a companion for free – excluding the gas fee. The offer ran for a week in June 2021, where members who signed up for this adoption got their respective distribution at the end of the adoption period.

About 96% of Bored Ape holders adopted a dog companion , and the remaining 400 unadopted dogs were left to the swamp for extinction. Since then, these dog NFTs have also been listed on marketplaces since they are no more available in the Kennel club.

There are 9,602 dogs’ 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 cap of 66,733.9 ETH –$110,440,581.81– while the most expensive NFT in this club is listed at 5,000ETH –equivalent to $8,161,700– on OpenSea.

The BAKC collection incorporates charity donations into NFTs, with the 2.5% royalty fee placed for six weeks after launch. Funds from the royalty fee were donated to animal charities like the Orangutan Outreach, as announced by the BAYC official Twitter handle in August 2021. 

The Mutant Ape Yacht Club – MAYC

Another captivating model for engaging the BAYC members that was introduced to the ecosystem is the Mutant serum airdrop. A snapshot of Bored Ape holders was taken on August 8, 2021, and each holder was airdropped with a Mutant serum vial . 

A collection of 10,000 Mutant Apes was already auctioned and sold out before the mutation began. The mutation was a way of showing gratitude to BAYC members who minted Mutant Apes for free with their serums. The serums airdropped were M1, M2, and M3, where the Bored Apes could only use each vial once.

The M1 and M2 serums mutated Bored Apes into Mutant Apes with traces of the original Bored Ape traits. The M3 vial mutated the Bored Ape into an unrecognizable Mutant. Alongside the 10,000 previously minted Mutant Apes, this sums up the 20,000 collections of Mutant Ape NFTs , and the Mutant Ape Yacht Club was created therein.

The MAYC members comprise the previous BAYC members and the holders or investors of the newly released 10,000 Mutant Apes. Currently, MAYC 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 Valuable

Celebrity holders.

Celebrities have become a significant game-changer in the crypto/NFTs industry, doubling as media influencers for projects. An example is the Pranksy tweets that led to a substantial sale of the Bored Ape NFTs. Many celebrities have since acquired this NFT and flaunt them in the media.

Examples include:

• Justin Bieber
• Shaquille O’Neal
• Paris Hilton
• Jimmy Fallon
• Travis Barker

Community Strength

Community plays an essential role in the success of many projects in the blockchain industry. A project’s community doubles as its foot soldier and influencers. BAYC meet-ups have been held in Hong Kong, New York, California, and the United Kingdom.

Membership Benefits

Another factor that made the BAYC valuable is its utility to its NFT holders, such as membership to the club, the bathroom access, and free NFTs and membership to the BAKC and MAYC. As the Yuga Labs team keeps working tirelessly to create other utilities, existing members have a lot to benefit from future projects. An example of this is the ApeCoin tokens distributed to Bored and Mutant Apes holders.

Bored Ape holders got 10,094 $APE for each NFT, while Mutant Ape holders received 2,042 $APE. Imagine if a holder is holding multiple NFTs of both collections.

Other Projects by Yuga Labs

Yuga Labs started its blockchain/crypto journey in less than two years, and the company is currently worth billions of dollars. Their success can be ascribed to working tirelessly to keep reeling out captivating blockchain/crypto and NFT projects.

Among their other projects are the $APE cryptocurrency and Otherside Metaverse alongside its Otherdeed NFTs.

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*All investment/financial opinions expressed by NFT Plazas are from the personal research and experience of our site moderators and are intended as educational material only. Individuals are required to fully research any product prior to making any kind of investment.

Technical writer, an enthusiast for everything blockchain and decentralized world.

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40 facts about elektrostal.

Written by Lanette Mayes

Modified & Updated: 02 Mar 2024

Reviewed by Jessica Corbett

Elektrostal is a vibrant city located in the Moscow Oblast region of Russia. With a rich history, stunning architecture, and a thriving community, Elektrostal is a city that has much to offer. Whether you are a history buff, nature enthusiast, or simply curious about different cultures, Elektrostal is sure to captivate you.

This article will provide you with 40 fascinating facts about Elektrostal, giving you a better understanding of why this city is worth exploring. From its origins as an industrial hub to its modern-day charm, we will delve into the various aspects that make Elektrostal a unique and must-visit destination.

So, join us as we uncover the hidden treasures of Elektrostal and discover what makes this city a true gem in the heart of Russia.

Key Takeaways:

• Elektrostal, known as the “Motor City of Russia,” is a vibrant and growing city with a rich industrial history, offering diverse cultural experiences and a strong commitment to environmental sustainability.
• With its convenient location near Moscow, Elektrostal provides a picturesque landscape, vibrant nightlife, and a range of recreational activities, making it an ideal destination for residents and visitors alike.

Known as the “Motor City of Russia.”

Elektrostal, a city located in the Moscow Oblast region of Russia, earned the nickname “Motor City” due to its significant involvement in the automotive industry.

Home to the Elektrostal Metallurgical Plant.

Elektrostal is renowned for its metallurgical plant, which has been producing high-quality steel and alloys since its establishment in 1916.

Boasts a rich industrial heritage.

Elektrostal has a long history of industrial development, contributing to the growth and progress of the region.

Founded in 1916.

The city of Elektrostal was founded in 1916 as a result of the construction of the Elektrostal Metallurgical Plant.

Located approximately 50 kilometers east of Moscow.

Elektrostal is situated in close proximity to the Russian capital, making it easily accessible for both residents and visitors.

Known for its vibrant cultural scene.

Elektrostal is home to several cultural institutions, including museums, theaters, and art galleries that showcase the city’s rich artistic heritage.

A popular destination for nature lovers.

Surrounded by picturesque landscapes and forests, Elektrostal offers ample opportunities for outdoor activities such as hiking, camping, and birdwatching.

Hosts the annual Elektrostal City Day celebrations.

Every year, Elektrostal organizes festive events and activities to celebrate its founding, bringing together residents and visitors in a spirit of unity and joy.

Has a population of approximately 160,000 people.

Elektrostal is home to a diverse and vibrant community of around 160,000 residents, contributing to its dynamic atmosphere.

Boasts excellent education facilities.

The city is known for its well-established educational institutions, providing quality education to students of all ages.

A center for scientific research and innovation.

Elektrostal serves as an important hub for scientific research, particularly in the fields of metallurgy, materials science, and engineering.

Surrounded by picturesque lakes.

The city is blessed with numerous beautiful lakes, offering scenic views and recreational opportunities for locals and visitors alike.

Well-connected transportation system.

Elektrostal benefits from an efficient transportation network, including highways, railways, and public transportation options, ensuring convenient travel within and beyond the city.

Famous for its traditional Russian cuisine.

Food enthusiasts can indulge in authentic Russian dishes at numerous restaurants and cafes scattered throughout Elektrostal.

Home to notable architectural landmarks.

Elektrostal boasts impressive architecture, including the Church of the Transfiguration of the Lord and the Elektrostal Palace of Culture.

Offers a wide range of recreational facilities.

Residents and visitors can enjoy various recreational activities, such as sports complexes, swimming pools, and fitness centers, enhancing the overall quality of life.

Provides a high standard of healthcare.

Elektrostal is equipped with modern medical facilities, ensuring residents have access to quality healthcare services.

Home to the Elektrostal History Museum.

The Elektrostal History Museum showcases the city’s fascinating past through exhibitions and displays.

A hub for sports enthusiasts.

Elektrostal is passionate about sports, with numerous stadiums, arenas, and sports clubs offering opportunities for athletes and spectators.

Celebrates diverse cultural festivals.

Throughout the year, Elektrostal hosts a variety of cultural festivals, celebrating different ethnicities, traditions, and art forms.

Electric power played a significant role in its early development.

Elektrostal owes its name and initial growth to the establishment of electric power stations and the utilization of electricity in the industrial sector.

Boasts a thriving economy.

The city’s strong industrial base, coupled with its strategic location near Moscow, has contributed to Elektrostal’s prosperous economic status.

Houses the Elektrostal Drama Theater.

The Elektrostal Drama Theater is a cultural centerpiece, attracting theater enthusiasts from far and wide.

Popular destination for winter sports.

Elektrostal’s proximity to ski resorts and winter sport facilities makes it a favorite destination for skiing, snowboarding, and other winter activities.

Promotes environmental sustainability.

Elektrostal prioritizes environmental protection and sustainability, implementing initiatives to reduce pollution and preserve natural resources.

Home to renowned educational institutions.

Elektrostal is known for its prestigious schools and universities, offering a wide range of academic programs to students.

Committed to cultural preservation.

The city values its cultural heritage and takes active steps to preserve and promote traditional customs, crafts, and arts.

Hosts an annual International Film Festival.

The Elektrostal International Film Festival attracts filmmakers and cinema enthusiasts from around the world, showcasing a diverse range of films.

Encourages entrepreneurship and innovation.

Elektrostal supports aspiring entrepreneurs and fosters a culture of innovation, providing opportunities for startups and business development.

Offers a range of housing options.

Elektrostal provides diverse housing options, including apartments, houses, and residential complexes, catering to different lifestyles and budgets.

Home to notable sports teams.

Elektrostal is proud of its sports legacy, with several successful sports teams competing at regional and national levels.

Boasts a vibrant nightlife scene.

Residents and visitors can enjoy a lively nightlife in Elektrostal, with numerous bars, clubs, and entertainment venues.

Promotes cultural exchange and international relations.

Elektrostal actively engages in international partnerships, cultural exchanges, and diplomatic collaborations to foster global connections.

Surrounded by beautiful nature reserves.

Nearby nature reserves, such as the Barybino Forest and Luchinskoye Lake, offer opportunities for nature enthusiasts to explore and appreciate the region’s biodiversity.

Commemorates historical events.

The city pays tribute to significant historical events through memorials, monuments, and exhibitions, ensuring the preservation of collective memory.

Promotes sports and youth development.

Elektrostal invests in sports infrastructure and programs to encourage youth participation, health, and physical fitness.

Hosts annual cultural and artistic festivals.

Throughout the year, Elektrostal celebrates its cultural diversity through festivals dedicated to music, dance, art, and theater.

Provides a picturesque landscape for photography enthusiasts.

The city’s scenic beauty, architectural landmarks, and natural surroundings make it a paradise for photographers.

Connects to Moscow via a direct train line.

The convenient train connection between Elektrostal and Moscow makes commuting between the two cities effortless.

A city with a bright future.

Elektrostal continues to grow and develop, aiming to become a model city in terms of infrastructure, sustainability, and quality of life for its residents.

In conclusion, Elektrostal is a fascinating city with a rich history and a vibrant present. From its origins as a center of steel production to its modern-day status as a hub for education and industry, Elektrostal has plenty to offer both residents and visitors. With its beautiful parks, cultural attractions, and proximity to Moscow, there is no shortage of things to see and do in this dynamic city. Whether you’re interested in exploring its historical landmarks, enjoying outdoor activities, or immersing yourself in the local culture, Elektrostal has something for everyone. So, next time you find yourself in the Moscow region, don’t miss the opportunity to discover the hidden gems of Elektrostal.

Q: What is the population of Elektrostal?

A: As of the latest data, the population of Elektrostal is approximately XXXX.

Q: How far is Elektrostal from Moscow?

A: Elektrostal is located approximately XX kilometers away from Moscow.

Q: Are there any famous landmarks in Elektrostal?

A: Yes, Elektrostal is home to several notable landmarks, including XXXX and XXXX.

Q: What industries are prominent in Elektrostal?

A: Elektrostal is known for its steel production industry and is also a center for engineering and manufacturing.

Q: Are there any universities or educational institutions in Elektrostal?

A: Yes, Elektrostal is home to XXXX University and several other educational institutions.

Q: What are some popular outdoor activities in Elektrostal?

A: Elektrostal offers several outdoor activities, such as hiking, cycling, and picnicking in its beautiful parks.

Q: Is Elektrostal well-connected in terms of transportation?

A: Yes, Elektrostal has good transportation links, including trains and buses, making it easily accessible from nearby cities.

Q: Are there any annual events or festivals in Elektrostal?

A: Yes, Elektrostal hosts various events and festivals throughout the year, including XXXX and XXXX.

Was this page helpful?

Our commitment to delivering trustworthy and engaging content is at the heart of what we do. Each fact on our site is contributed by real users like you, bringing a wealth of diverse insights and information. To ensure the highest standards of accuracy and reliability, our dedicated editors meticulously review each submission. This process guarantees that the facts we share are not only fascinating but also credible. Trust in our commitment to quality and authenticity as you explore and learn with us.

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Questions to ask a prospective custom home builder in elektrostal', moscow oblast, russia:, business services, connect with us.

Club ADRENALIN - All You Need to Know BEFORE You Go (2024)

• Fri - Sat 10:00 PM - 6:00 AM
• (5.81 mi) Inn Aquarel
• (6.25 mi) Elektrostal Hotel
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• (0.03 mi) Semeyny Ochag
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• (9.78 mi) Restaurant Khalif
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