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Anotherwith gold fur and laser eyes, two sub-1% traits, went for $3 million. In some cases of celebrities owning Bored Ape NFTs, such as with Justin Bieber, it has been reported that the actual purchase of the NFT may not have been made by the celebrity themselves. Yuga Labs would take a very different approach to Bored Ape Yacht Club than Larva Labs did with the CryptoPunks.
Far from the all-time-high, but insane considering these NFTs sold for about $200 apiece last April. Daniel Van Boom is an award-winning Senior Writer based in Sydney, Australia. Daniel Van Boom covers cryptocurrency, NFTs, culture and global issues. When not writing, Daniel Van Boom practices Brazilian Jiu-Jitsu, reads as much as he can, and speaks about himself in the third person.
Recent Bored Ape Yacht Club sales
The advent of this second collection last August is when the Bored Ape brand really popped. Seen as doing innovative things with NFT technology, and coinciding with a huge amount of money entering the space that month, Bored Ape Yacht Club started to be seen as the premiere NFT brand. The most ubiquitous criticism of NFTs is that they’re useless because pictures can simply be right-clicked and saved for free. The point of NFT technology is that it makes public who the owner of an asset is.
At the time of launch, each Bored Ape Yacht Club token cost 0.08 Ether , equivalent to $220, but in mid-October 2022, they were priced at a minimum of 76 ETH, worth approximately $100,418. Like everything else to do with NFTs, the Bored Ape Yacht Club is contentious. Apes inspire jealousy among those who own and trade NFT art but confusion and suspicion among people who don’t. Their value is instrinsically tied to ether, the second biggest cryptocurrency. That means NFTs like BAYC are likely to lose their lustre if crypto collapses — something critics have prophesized for years. In June 2022, Yuga Labs launched a lawsuit against Ryder Ripps on the grounds of him selling NFTs that infringe on the company’s copyright.
Second, you have NFT collections like the Bored Ape Yacht Club, which are mostly designed to be used as profile pictures on social media. The latter have become the dominant style, where most of the money is spent. Bored Ape NFTs owners are considered in possession of “a unique unit of data recorded in a digital blockchain, which permanently records its provenance or sales history.” In March 2022, BAYC launched ApeCoin and adopted it as the official currency for the BAYC ecosystem. ApeCoin was distributed to BAYC NFT holders shortly after its launch.
Gucci and TAG Heuer Latest to Ape into ApeCoin
BAYC’s trading volume on Oct. 14, 2022, according to NFT marketplace OpenSea, was 673,000 ETH. In addition to tracking price, volume and market capitalisation, CoinGecko tracks community growth, open-source code development, major events and on-chain metrics. Bored Ape owners currently using their NFT as a Twiter profile picture include Timbaland (1.6 million followers), Eminem (22.6 million followers) and footballer Neyman Jr. . Jimmy Fallon and Paris Hilton are also BAYC holders, discussing their Apes in a Tonight Show segment. Justin Bieber made headlines with his purchase of a $1.29 million Bored Ape Yacht Club NFT in February.
- Yuga Labs stated they were granting complete commercial rights to CryptoPunks owners.
- Bored Apes holders are not only members of a select club of owners, but also its main promoters through social networks.
- The offers that appear in this table are from partnerships from which Investopedia receives compensation.
- Ethereum smart contracts support a variety of distributed apps across the crypto ecosystem.
The idea is that anyone can buy a Mona Lisa print for a few bucks, but only one person or institution can own the original. Everyone in the world can save a BAYC jpeg on their computer, but only one person can own the NFT. This collection of 10,000 cartoon apes has become the poster child of NFTs. Ten percent of the Bored Ape Yacht Club sales were for $83.7k or less, half of the sales were for less than $93k and the highest ten percent were sold for $108k or higher.
Bored Ape Yacht Club (BAYC)
On April 25, 2022, the official Instagram account of the company was hacked and a phishing link was posted on it. As a result, four Bored Ape NFTs, along with ten more from related collections by Yuga Labs, were stolen with a total estimated worth of approximately neo brokers $3 million. $1 million worth of funds were transferred into the hacker’s account. On March 16, 2022, ApeCoin DAO launched its own token separate from Yuga Labs known as “ApeCoin” ($APE), which was used to build tokenomics for their products.
We also source NFT community statistics directly from Twitter and Discord. If you want to find the best NFT to buy, upcoming NFT projects, what’s the most expensive NFT – we’ll provide you with the data, charts, insights and news you need. Bored Ape Yacht Club holds hosted events in New York, California, Hong Kong, and the UK for its owners. In November 2021, the company held a yacht party and a performance featuring Chris Rock, Aziz Ansari, and The Strokes as part of an entertainment weekend in New York.
Hackers stole about 30 Bored Ape tokens from owners who approved a transfer using a fake “mint” link. The athletic outfitter plans to cast a 3D Bored Ape character in its upcoming metaverse game. The goal is to foster 3D interaction among internet users through collectibles.
The other two founders go by the pseudonyms “No Sass” and “Emperor Tomato Ketchup”. The latter deriving his alias from the 1996 Stereolab album of the same name. Currently, the process to acquire a Bored Ape involves connecting with a wallet compatible with the Ethereum Blockchain to one of the main NFT marketplaces .
Why are Bored Ape Yacht Club NFTs valuable?
The Yuga Labs team raised $450 million in a fundraising round led by venture capital firm Andreessen Horowitz, it was reported in March 2022, to be valued at $4 billion. The capital is set to be used to expand Yuga Labs’ activities and accelerate brand growth. Other NFT collections that Yuga Labs have started are Mutant Ape Yacht Club —a spinoff of BAYC—and Bored Ape Kennel Club. Both were trading at volumes of 457,000 ETH and 110,000 ETH, respectively, on OpenSea in mid-October 2022. BAYC is considered a status symbol, and celebrities like National Basketball Association star Stephen Curry, singers Eminem and Snoop Dogg, and late-night show host Jimmy Fallon own one. Bored Ape Yacht Club, also known as BAYC, is a non-fungible token collection of 10,000 cartoon-like apes.
Out in the physical world, the Bored Apes are integrating themselves into fashion. Adidas launched its first NFT project, Into The Metaverse, in collaboration with several NFT brands, Bored Ape Yacht Club chief among them. Collaborations between Adidas and BAYC on both virtual and physical clothing are coming soon. The data on this site comes from various NFT marketplaces and from the NFT project creators themselves.
Bored Ape Yacht Club price floor and sales live data
The offers that appear in this table are from partnerships from which Investopedia receives compensation. Investopedia does not include all offers available in the marketplace. The most expensive Bored Ape in the collection, BAYC #8817, was auctioned off in October 2021 for $3.4 million on Sotheby’s Metaverse marketplace, an best neo wallet online platform dedicated to rare and extraordinary NFTs. BAYC #8817 had the Solid Gold Fur trait—making it a relatively rare variety of the NFT. Other characteristics of the #8817 token are the Silver Hoop Earrings and the Wool Turtleneck. The array of BAYC’s unique traits and accessories are used to measure its value.
Bored Ape Yacht Club has organized meetups in New York and California, and there have been Bored Ape get-togethers in Hong Kong and the UK, too. This past June, BAYC holders were treated to “Ape Fest”, a festival that included performances from Eminem, Snoop Dogg, LCD Soundsystem and Amy Schumer. As noted, the “floor price” for the project — what you’ll pay for an ape with common traits — is currently about $150,000 . Apes with the golden fur trait are rare, and so sell for much more.
A key factor in the promotion and viralization of the project has been the adoption of an IP model that guarantees a commercial license to each holder of an ape. Having a license that allows the commercial exploitation of the NFT is an samuel cole phillips intelligent economic incentive of the first magnitude that manages to transform the commercialization and marketing of the project into a collective effort. CryptoPunks are non-fungible tokens that can sell for millions of dollars.
But in any case, their value is individual, the CryptoPunks can be appreciated without the need to take into account the larger group of which they are a part. The pseudonym of the founders of Yuga Labs, together with the fact of opting for a generous intellectual property license system with the owners of the NFTs that make up the collection, would be one of the main hallmarks of the project. The 4 original members of the team would manage to maintain their anonymity until February 2022, when their identities would end up being revealed -without their prior consent- by the digital media BuzzFeed. If CryptoPunks can be considered the genesis of the PFP concept applied to collectible digital assets that take the form of non-fungible tokens, Bored Ape Yacht Club represents the refinement of this concept through a series of innovations. To buy a Bored Ape token and be part of the exclusive club, visit a platform where the BAYC collection is listed, such as OpenSea. Once that’s done, search “Bored Ape Yacht Club,” filter out the ape of your choice, and place an order.