Abstract

The Bored Ape Yacht Club (BAYC) collection series consists of 10,000 NFT apes, each with its own unique characteristics. A few qualities are rarer and more valuable in the eyes of collectors. After buying the ape, you can also become a member of BAYC and enjoy exclusive access to new collections and other privileges in the future.

BAYC holders can receive airdropped serum to turn their apes into "mutated apes". Mutants are also minted in the public sale, priced at 3 ETH each. Owners of the original BAYC Ape will also have the opportunity to mint a Club Dog NFT for free. The club donates royalties from secondary sales to animal charities.

Part of the reason for BAYC’s success is its long-term commitment to building the universe behind NFT and creating exclusive clubs. Through games such as Mutant Arcade, charity activities and club benefits, BAYC carries out continuous marketing and maintains a relatively high base price.

Introduction

Keeping up with the latest NFT versions has become a real challenge. For every successful project, there are also many failed versions. The winning formulas of the past have become commonplace, but some still capture the imagination of investors. The Boring Ape Yacht Club is hugely popular in the NFT ecosystem. What’s the secret to its success? This is because although BAYC also adopted familiar routines, it still managed to be unique and successfully break through the boundaries in the NFT field.

What is the Boring Ape Yacht Club (BAYC)?

The Boring Ape Yacht Club series consists of 10,000 non-fungible tokens (NFT), styled as apes in the Ethereum blockchain. It is inspired by NFT projects such as CryptoPunks, and each NFT has a unique appearance. Each ape has a different rarity, based on clothing, behavior, and background.

The project was created by the four founders of Yuga Labs, whose respective pseudonyms are: Gargamel, Gordon Goner, Emperor Tomato Ketchup and No Sass. Since the initial casting, BAYC has gradually built a new NFT series, an NFT upgrade series, and an exclusive club for BAYC holders. A series of developments have attracted people's attention, and the price has been rising. Its NFT was auctioned for US$3.4 million at Sotheby's auction house.

How does the Bored Ape Yacht Club (BAYC) work?

Each virtual ape is an ERC-721 NFT on the Ethereum blockchain. All tokens are unique, non-fungible products and cannot be equivalently exchanged with any cryptocurrency or token. The ape is made up of seven underlying qualities:

1. Background

2. Clothes

3. Earrings

4. Eyes

5. Fur

6. Hat

7. Mouth

Each attribute has various expressions and styles. For example, among the many apes below, you can see apes characterized by solid gold, trippy and noise fur. The quantity of each shape is limited, and some shapes are even rarer.

Generally speaking, the rarer the trait, the higher the transaction price. When you start looking at apes' attributes, you can rank them by rarity. In other words, apes with rare attributes usually sell for more than apes with common attributes.

What are the advantages of Boring Ape Yacht Club?

Owners of Bored Ape can participate in BAYC’s exclusive clubs and field activities. This includes early access to new NFTs, NFT upgrades and other privileges. BAYC members can join the Mutated Ape Yacht Club (MAYC) and the Boring Ape Kennel Club for free. The high prices of these series make the benefits of joining BAYC obvious.

What is the Mutant Ape Yacht Club?

MAYC is a series of collectibles similar to the original BAYC apes, but with a zombie-like mutant theme. Holders of 10,000 original BAYC NFTs received a bottle of airdropped mutant serum, with random grades: M1, M2 and M3.

These serums are randomly deposited into wallets holding NFT. If an ape is injected with M1 or M2 mutant serum, a new mutant ape can be created. The mutant species shares some characteristics with the original ape. In addition, the M3 serum bottle can create a new mutant ape that has no relationship with the original ape, and its rarity is even higher.

Yuga Labs claims that MAYC is the "ultimate membership" for Ape holders. From now on, the R&D team will continue to bring more utility and benefits to BAYC members.

What is the Bored Ape Kennel Club?

The Boring Ape Kennel Club is another set of NFT series collectibles launched by Yuga Labs, specially distributed to ape holders. A wallet containing an ape can mint a Club Dog NFT with many attributes and rarities. There is no fee to pick up the dogs, other than fuel. All secondary sales will generate a 2.5% royalty for a limited time, which is donated to animal charities.

What is mutation Arcade?

Part of the appeal of BAYC comes from the story and atmosphere behind NFT. CryptoPunks only has NFTs, while BAYC creates a themed universe. The small mutant ape Arcade released with the MAYC series is one such example.

What is the Boring Ape Yacht Club Bathroom?

Bathrooms are another membership benefit that allows holders to draw a pixel on their virtual bathroom wallet every 15 minutes. There are no tools provided in the bathroom other than a community drawing board. However, like other club perks, it helps attract collectors' attention and spark interest in the project and its universe.

Where to buy Boring Ape Yacht Club NFT?

BAYC and other series of collectibles are very popular and relatively expensive. With the coin troughs fully occupied, related collectibles are currently only available on the secondary market. If you have sufficient funds, you can purchase it on OpenSea and Rarible.

In order to purchase the Ape, you will need to have enough Ethereum (ETH) in your wallet to cover the sale price and transaction fees. You will also need to use a DApp-linked wallet (such as Metamask or Binance Chain wallet).

Conclusion

Boring Ape Yacht Club successfully applied the popular NFT models and introduce new ones. Yuga Labs breathes life into the familiar CryptoPunks format with a seamless blend of ethical charitable donations, upgrades, and other member benefits. Just like other projects in the NFT community, collection value is no longer all about NFT, and practicality will gradually become a new focus.