what is Bored Ape Yacht Club? (part1)

Do you know what Neymar, Memphis Depay, Shaquille O'Neal, Stephen Kerry, Paris Hilton, DJ Khalid, Justin Bieber, Jimmy Fallon, Eminem, and Mark Kuban have in common? Almost nothing; Except that all of these people have spent hundreds of thousands of dollars to buy a collection of pictures of some cartoon monkeys called the Bored Ape Yacht Club and use them as their profile pictures on social media! But what is the story of these strange monkeys and why are they so famous and of course so expensive?

The Bored Ape Yacht Club, also known as the BAYC for short, is a collection of non-fungible tokens (NFTs) inspired by the CryptoPunks series that has reached a billion-dollar trading volume. The unique design of this collection has attracted many fans. Big letters and even famous brands like Adidas are among the fans of these non-fungible tokens. In 2021, many professional traders made huge profits by buying and selling Bored Ape Yacht Club tokens on the OpenSea platform. In 2021, many professional traders made huge profits by buying and selling Bored Ape Yacht Club tokens on the OpenSea platform. This continued until, according to the NFTStreet, the price of each of the top 20 tokens of these bored monkeys! It has reached 1 to 3 million dollars!

The Bored Ape Yacht Club is not only the profile picture of many influencers and celebrities but also a special membership card to access an online club that offers special benefits to its members. To learn more about these popular and controversial NFTs, stay tuned for the rest of this article.

The Bored Ape Yacht Club is a product of the American company Yuga Labs and a collection of 10,000 unique tokens with the ERC-721 token standard in the Ethereum blockchain. These tokens are composed of 170 distinctive features such as a variety of appearances, strange clothes, and different facial expressions.

It should be noted that an NFT acts as a deed of ownership of a digital product, giving buyers exclusive ownership. Buyers of this NFT receive an image of a Bored Ape cartoon monkey with weird, random features, colors, and costumes. It is interesting to note that no two images of these 10,000 monkeys are alike, and the scarcity of each feature can add to the value of these tokens.

In fact, the holders of these tokens are all part of a special club and community that, with a unique token, is allowed to enter a club with more than 5,000 members and take advantage of it. In addition to the multiplier benefits of tokens for buyers, especially early buyers, some of the benefits of membership in this club are:

• Valuable airdrops and several thousand dollars;

• Events and games for members;

• Participate in events, parties, and gatherings for token holders with the presence of famous stars and athletes;

• Commercial use of monkeys using IP tokens in products such as T-shirts, mugs, and more;

• Fundraising and deciding whether to donate it to various charities;

• Access to a pixelated and bizarre digital artwork;

• The reputation of these NFTs is a symbol of wealth and awareness of the digital currency space.

Bored Ape Yacht Club Builders

Bored Ape Yacht Club was created and introduced in April 2021 by Yuga Labs. The team consisted of four developers with pseudonyms Gargamel, Gordon Goner, Emperor Tomato Ketchup, and No Sass, and no one knew their identities. All four used pseudonyms until February 2022, but their identities did not last long; Because BuzzFeed revealed the true identities of Gargamel and Gordon Goner. The real names of Gargamel and Gordon Goner are Greg Solano and Wylie Aronow, respectively. The two posted pictures of themselves on Twitter after revealing their identities.

After this incident, "Emperor Tomato Ketchup" and "No Sass" were also forced to publish their pictures in separate tweets along with the tokens of their Ape board.

Launched on April 29, 2021, at a price of 0.08 ETH per token, the collection started slowly, and no one thought that these strange paintings would turn into a huge avalanche like a gentle snowball. Just two days later, on May 1, Bored Ape's Twitter account announced in a short message that all the tokens in the collection had been sold.

Rarity

In total, there are only 10,000 Bored Ape tokens. This number may seem high; But for the world's population of 8 billion, that's a small number. In fact, only 0.000125% of this population can enjoy unparalleled board tokens.

In addition to limited supply, the features of some of these monkeys, such as golden fur and laser eyes, are rarer and significantly more valuable than others. At the same time, each monkey with its own styles, such as clothing, color, and facial expressions can be attractive to certain people.

Welcome celebrities

Another reason for the undeniable appeal of the Bored Ape is that dozens of celebrities have decided to invest in these tokens and show them on social media.

Gradually, it is added to the list of celebrities who use Bored Ape as their profile picture on social media. For example, Stephen Curry, the three-time NBA champion, bought Bored Ape for $ 180,000 in August 2021 and added him to the list of athletes such as Josh Hart, Tyrese Haliburton, and rugby players Dez Bryant, and Von. Miller attached.

The list goes on and on, with celebrities welcoming celebrities and media coverage; So many people were attracted to the idea and value of these monkeys, and this great reception for this collection has acted as a great advertisement.

You can read the second part here