Can you imagine a bored ape avatar can cost millions of dollars? Yes, it’s true. Bored Ape Yacht Club is the collection of 10,000 ape avatar NFTs with different characteristics and features. The major question here is What Made Bored Ape So Famous? Let’s find out.
The Bored Ape Yacht club was launched in April 2021 by No Saas, Gargamel, Gordon Gorner, Emperor Tomato, and Ketchup. All 10,000 avatars were sold out for around $190 in just 12 hours. Then prices grew steadily from April to July which then escalated in August. Today each avatar is worth millions.
Now let’s find the answers to how Bored Ape became so famous, what their strategies were, and what their future is going to be.
What Made Bored Ape NFTs So Famous
After doing a lot of research to answer the complicated question of what made bored ape so famous, we came to the conclusion that it is actually a mix of three contributing factors. Let’s understand what these three things are.
1. Celebrity/ Influencer Involvement.
We are well aware of the trend today if someone is buying something we too want that. The same is the case here, when a world-famous celebrity owns an NFT, others are going to do the same. Like the example of Jimmy Fallon, host of Tonight Show, bought a BAYC on November 8, 2021, for $145,000. He used the same as his Twitter profile picture, which is followed by 50 million people. This caused an exponential growth in the prices of bored ape yacht avatars making it more famous.
This is the second factor that we found which is contributing to the prominent behavior of Bored ape yachts. NFT projects provide a kind of utility, games access, or stake an NFT in exchange for a linked cryptocurrency. To fascinate the owners, Bored Ape Yacht Club did a few things. The opportunity to adopt a dog NFT having traits similar to those of bored ape was offered to owners and named as Bored Ape Kennel Club.
Mutant Ape NFT was also created by mixing Bored ape with the serum. It came as digital vials of mutant serum in august. Kennel club and Mutant bored ape were sold for a lot. The collection of Mutant Ape Yacht Club Collection has blown up in recent weeks, these are now priced at $55,000 in November from around 4 ether to 15 ether.
3. Community Strength:
This is the last and the most important one. The Bored Yacht Club has organized a mass in New York and California. Some meetups in Hong Kong and the U.K, too. Developing a community that has a business aspect as well. Art of any kind is worthy only when people are willing to pay for it. The floor price of an NFT collection is the least invested members willing to sell it. When you are selling your ape, you are not selling just an NFT but the community passes too.
Apart from this, another project named “Right off the bat” was launched with a roadmap from the beginning. To make perfect online avatars, Apes were equipped with relatable attributes with an idea to make the biggest PFP project Bored Ape.
Celebrities Who Made Bored Ape Famous
The first celebrity who purchased a Bored Ape NFT and used it as Twitter DP was Eminem or Marshall Mathers (actual name). This rap icon purchased Bored Ape for $462,000. Then other celebrities joined him and started to purchase Bored Ape NFTs. Among them are Stephen Curry, Jimmy Fallon, and more others.
Future Of The Famous Bored Ape Yacht Club
The famous bored ape yacht club is flourishing beyond NFTs and is turning into an Off-chain brand. An off-chain brand is one that exists outside the blockchain. It was recently announced by Yuga Labs in December 2021 that they are working with developer Animoca for a play-to-earn game coming this year. Apart from this, the famous Bored Ape Yacht is getting into fashion. Tying up with a famous brand Adidas, also launched its first-ever NFT project. Adidas now is in the Metaverse in collaboration with several NFT brands, Bored Ape Yacht Club being the chief among them. The Twitter handle of Adidas has a Bored Ape avatar on its profile picture.
The Unbelievable Price Surge
The price of the famous Bored Ape Yacht was around 0.08 ETH in April 2021. Currently, in January 2022, the floor price is around 77.99 ETH on OpenSea. This gives a return of 100,000%. The most expensive Bored Ape #3749 was sold for 740ETH which is almost $2.9 million. Other notable Bored Apes include Bored Ape #2087, which was sold for around $2.3 million. Bored Ape $8585 purchased for $2.67 million, #7090 purchased for $2.27 million, and much more.
Well after reading this blog you might have understood the reason behind the Bored Ape Yacht fame and you might be a fan of this club as well. Then the good news is yes, you can easily buy these NFTs online.
To obtain a Bored Ape NFT, browser for OpenSea and connect your MetaMask Wallet. Once you are there, you can then find the Bored Ape Yacht Club collection and many more collections as well. You can then pick from a range of different apes with different costs. Once you select the ape that you want to buy, you have to place your bid. If the seller counts on your bid, then the NFT will be transferred to your address.
The famous Bored Ape Yacht Club is gaining more and more fame along with the other clubs of NFTs. People are showing their interest in the Metaverse and these types of clubs continue to earn huge profits.