Since its emergence in April 2021, a collection of NFTs has redefined the nature of the digital community, becoming a global phenomenon that interweaves art, technology, and culture in unprecedented ways.
The collection is Bored Ape Yacht Club.
Bored Ape Yacht Club (BAYC) stands out not only for its eye-catching artwork, but also for its rapid rise to the top of the NFT industry, its colorful community, and the many trials and tribulations it has endured to date. Bored Ape NFTs have become a status symbol favored by blockchain heavyweights and celebrities, but what makes them so special, how did they become so popular, and why do they continue to make headlines around the world?
Here’s our complete 2024 Bored Ape Yacht Club Guide.
What is the Bored Ape Yacht Club?
The Bored Ape Yacht Club is a collection of 10,000 cartoon-style NFT apes minted on the Ethereum blockchain. Created by Yuga Labs, these apes are algorithmically generated based on a large number of characteristics (such as clothing, hats, accessories, etc.), making each ape unique in appearance and rarity.
Holders of the Bored Ape NFT join an exclusive club where members can enjoy a range of unique benefits. This includes access to members-only online spaces, exclusive merchandise, live events such as the annual ApeFest, and access to its growing portfolio of other NFT collections and products such as Mutant Ape Yacht Club, Otherside Metaverse, and more.
Collectors of the Bored Ape Yacht Club NFT are also granted commercial rights to use Ape’s image however they wish. This has spawned a vibrant ecosystem of spin-off brands—many of which are supported by the official Made by Apes initiative—including Bored & Hungry restaurants in Long Beach, Forever Apes, Bored Goods and more.
Bored Apes has attracted the attention of many high-profile celebrities, including Eminem, Snoop Dogg, Jimmy Fallon and more. Many of them either have “boring ape” as their profile picture on social media apps or have their apes featured in prominent mainstream media, which goes a long way in increasing their visibility, appeal, and visibility .
The History of the Boring Ape Yacht Club
BAYC was minted on April 30, 2021, with a price of 0.08 ETH per coin, which was approximately $190 at the time. The initial sales volume was not large until Pranksy, a well-known NFT collector, purchased a few Apes and promoted them, resulting in all 10,000 NFTs being purchased within 12 hours.
As NFTs quickly became mainstream in late 2021 and early 2022, Bored Apes became the second most valuable NFT collection in the world — behind only CryptoPunks — and has maintained that position to this day.
Bored Apes hit an all-time high on May 1, 2022, with a floor price of 128 ETH, which was about $360,000 at the time. Single BAYC NFTs have sold for much higher prices, including at high-profile auctions at Sotheby’s and Christie’s, the largest of which was the $3.4 million sale of Bored Ape #8817 in October 2021.
Since the success of Bored Ape Yacht Club, creator Yuga Labs has minted a number of related NFT series, including Bored Ape Kennel Club in June 2021, Mutant Ape Yacht Club in August 2021, and the Otherside Yuan planned for April 2022. Otherdeed NFTs of the universe.
ApeCoin DAO is a decentralized governance framework supporting the Bored Ape ecosystem, established in early 2022. .
These achievements also allow Yuga Labs to expand beyond NFTs. There’s also the aforementioned Otherside metaverse – still in members-only beta as of this writing – endless runner Dookey Dash launching in January 2023, and their famous ApeFest event – for Annual meeting held by Bored Ape holders.
This expansion includes the acquisition of other major NFT series. Larva Labs’ CryptoPunks and Meebits series came into Yuga ownership in March 2022, Beeple’s 10KTF was acquired in November 2022, and the entire PROOF Collective – including Moonbirds and more – was acquired in February 2024.
It’s not all sunshine and rainbows. Bored Apes’ biggest challenge came in mid-2022, when artist Ryder Ripps created a copycat RR/BAYC series. Yuga Labs filed a lawsuit, dismissing Ripps’ wild speculation that Bored Apes contained coded racist imagery and “neo-Nazi dog whistles,” ultimately leading to a court case that ended in Yuga’s favor in 2023. way to reconcile.
What’s next for Bored Ape?
As 2024 draws to a close and we enter 2025, all signs point to Bored Ape Yacht Club continuing to maintain its status as one of the most famous NFT collections in the world.
The Otherside metaverse – where Bored Ape holders can interact, play games and attend large events – continues to grow, with regular beta events being held in recent months.
ApeChain, a blockchain built specifically for the Bored Ape community, has been under development for most of 2024, with core features expected to be available in 2025, such as native revenue, one-click login and Apple Pay integration – Go online.
Finally, Bored Apes recently launched a partnership with car manufacturer BMW, which includes an exclusive merchandise line and the launch of the first ApeCar – a BMW 2 Series Gran Coupe with custom BAYC livery, available to the community Used by one lucky member.
Bored Ape Yacht Club has become more than just a simple NFT series – it has become the spokesperson of the NFT industry. With its ever-growing collection of partnerships, experiences, products, and more, BAYC has become one of the most loved, respected, and revered NFT franchises in the world — and we have a feeling they’re just getting started.
