NFTs are the latest technological innovations in the art collection world where you get to buy a picture on the internet that belongs to you.
Even though there are many controversies about NFTs, there is also a massive community behind NFTs.
There are collections of NFTs with several different NFTs belonging to one club.
Bored Ape Yacht Club NFT collection is one of the most famous and expensive NFT collections.
Many famous people even bought one ape from this collection, and their popularity is increasing every day.
This article will show you everything you must know about this NFT collection.
What Is Bored Ape Yacht Club?
Bored Ape Yacht Club is one of many NFT collections. This means that they have a certain template with different variations; it is not just one NFT.
In the case of the this NFT collection, there are apes with different visuals, clothing, and types.
The Bored Ape Yacht Club NFT Collection is one of the best and most famous NFT collections in the world, and to buy one; you need to spend around $200,000 at least because the entry barrier to this NFT collection starts from this number.
The most important detail about the Bored Ape Yacht Club NFT collection is that there are only 10,000 of them, and there are no new productions.
Famous people like Eminem, Jimmy Fallon, and Stephen Curry from Golden State Warriors even bought one of these apes, which makes them even more famous.
There are also brands partnering up with NFT like Adidas. This NFT collection now holds a cultural weight that people are willing to spend thousands of dollars on it both because they are limited and because many famous people own these NFTs.
Why Are They Valuable?
When you are wandering around at the prices of various NFT collections or just single NFTs, you might realize that most NFT prices are not as high as Bored Ape NFTs; they are far more valuable than the majority of NFTs and NFT collections out there.
There are several reasons for that, but perhaps the most important reason for this collection becoming famous is because they are very less. There are only 10,000 Bored Apes that can circulate on the internet.
In addition, they did good marketing in letting the people know about the collection.
Bored Ape is also one of the first NFT collections out there, being an authentic NFT collection that represents the value in NFTs and NFT collections.
In conclusion, Bored Ape Yacht Club is one of the most famous NFT collections in the world, with only 10,000 limited NFTs associated with this NFT collection.
Famous people like Eminem, Jimmy Fallon, and many other celebrities like NBA players and singers have bought these NFTs increasing their value even more.
When you buy it, you also get some perks since it is a collection, and you buy into a group of NFT collectors, so you belong to this collection.
The floor price, the minimum amount you need to have to purchase a Bored Ape NFT, is around $200,000. This amount increases over time with their popularity.
Amit Gupta is the founder of National Planning Cycles, a company that helps startups, individuals, and small businesses with their financial planning. He has a vast amount of experience in the finance sector, having managed Google Play accounts for some of the world’s most successful unicorns. Amit is an expert in his field, and he uses his knowledge to help others achieve their individual goals.