The hottest new NFT project - Bored Ape Yacht Club - has taken the NFT world by storm with their 10,000 unique Ape collectible avatars. The B.A.Y.C. follows the formula originally pioneered by CryptoPunks - the 10,000 unique collectible avatars of apes live on the Ethereum Blockchain, and all have a set of different features and attributes, as well as styles and accessories. The interesting and unique artwork for the B.A.Y.C. project reminds me of the animations and character designs Jamie Hewlett originally designed for the classic digital band Gorillaz. Each of the apes have different levels of rarity depending on the attributes and features of the ape.
The project first launched on April 29 of this year. The 10,000 apes were all listed on their website for 0.08ETH, with the company believing in fair distribution. The original launch sold out in just 12 hours! The apes all exist on secondary markets like OpenSea.io now for monumental prices.
As of July 6, 2021, the 10,000 apes are spread across 4,500 owners and the average price of an ape is currently at 1.75ETH (almost 100% up from launch) with some rarer apes selling for as much as 49.99ETH!
Much like the CryptoPunks project, the scarcity of the apes, as well as their eye-catching artworks have made the Bored Ape Yacht Club a massive success. What's unique to the B.A.Y.C. is that by owning an ape NFT, the NFT doubles as a membership card to the 'Bored Ape Yacht Club' which provides benefits to members only. There will be plenty member exclusive benefits to be added in the future as the project grows, but to start they have launched 'THE BATHROOM': a collaborative graffiti wall that mimics the doodles and drawings of a bathroom stall. The wall allows users to paint 1 pixel every 15 minutes.
The perks and exclusivity of the Bored Ape Yacht Club has allowed the community to collaborate in a fresh, new exciting way that hasn't really been seen much in the NFT industry before. B.A.Y.C. have advertised that there will be much further perks for members further down the roadmap. That include the ability to breed your apes together in the 'Mutant Ape Arcade Machine', exclusive merch for members of the club. It will be exciting to see what the founders of the B.A.Y.C. come up with for their large and growing club.