How much is a monkey worth? If it's a collectible from the Bored Apes Yacht Club, it's worth at least 50ETH, which equates to $200,000 at the time of writing. Some special apes are more valuable, depending on the combined scarcity of each ape's NFT traits. BAYC is one of the most famous NFT collectibles, with celebrities such as Jimmy Fallon, DJ Khaled, Steph Curry, and Post Malone participating in the hype, which has risen by 62,400% from the initial sale price of 0.08ETH on the open market.
Early Development of Apes
Bored Ape Yacht Club by Gargamel, Gordon Goner, Emperor Tomato Ketchup and No Sass April 2021. In 2017, Gargamel and Gordon Goner were on the sidelines of the crypto space — watching and learning. In interviews with Coindesk, they said they wanted to dive deeper into cryptocurrencies but hadn't found their niche yet - they weren't good at trading, investing or developing at the time.
Later, as NFTs began to develop, they saw their creativity as an opportunity to create a series of characters with backstory and appeal. With the help of their friends No Sass and Emperor Tomato Ketchup, launched the now-famous BAYC collectibles, selling 10,000 NFT apes for about $200 each, quickly racking up $2 million.
Apes are now one of the most coveted collectibles in all of cryptocurrency, joining the ranks of classic CryptoPunks, one ofSotheby's auctionimage description
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What makes Apes different?
Each Bored Ape image is an ERC-721 NFT created on the Ethereum blockchain and is part of the BAYC NFT family. Each ERC-721 token is non-fungible, meaning it is unique and not equally interchangeable with another token. That's what makes each ape unique and rarer than the others, and the reason can be attributed to 7 random traits: background, clothes, earrings, eyes, hair, hat and mouth.
Each stat can come in a number of different styles and colors, and statistically some stats are rare in collectibles, while some are quite common. OpenSea, one of the main NFT marketplaces, shows the percentage of shared attribute NFTs in collectibles, in addition to displaying these attributes. Anything below 1% is considered rare. For example, if you have an ape with solid golden hair, since there are only 46 apes in total with this expressive trait, it makes it extra rare and valuable.
Possesses the role of Apes
In addition to demonstrating crypto-currency wealth, internal identity, and commonality with celebrity, owning a BAYC NFT extends certain perks. Bored Ape owners have access to BAYC's exclusive clubhouse and interior areas. This includes first access to new NFTs, NFT upgrades, and other perks. Mutant Ape Yacht Club (MAYC) and Bored Ape Kennel Club both allow BAYC members to attend for free.
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Apart fromMutant Ape Arcade GameandBAYC Bathroom wall, the universe theme is further expanding its cooperation with the Metaverse. Soon, through NFT interoperability, BAYC owners will be able to turn their 2D apes into more playable3D virtual avatar, apes will be able to run, jump, and socialize with other players in The Sandbox.
Earlier this month, the creators of BAYC announced they were working on a play-and-earn game with Animoca Brands, an investor in The Sandbox and other popular Metaverse titles like Axie Infinity and NBA Top Shot. The game is scheduled to be launched in mid-2022. There is no other specific news yet. It will focus on the development of earning while playing games and will use Bored Ape NFT.
About AAX Academy
About AAX Academy
AAX is a digital asset exchange powered by LSEG Technology. Favored by over a million users in more than 100 countries around the world, AAX is the first exchange to support Satoshi denominated units (SATS) to drive Bitcoin adoption.
AAX serves trading users, innovators, NFT artists, high-net-worth investors and users without bank accounts around the world. With the mission of realizing the practical application of digital assets, AAX is committed to making stable currency benefit everyone.
AAX serves trading users, innovators, NFT artists, high-net-worth investors and users without bank accounts around the world. With the mission of realizing the practical application of digital assets, AAX is committed to making stable currency benefit everyone.
