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.
According to nft.stats, the average price of Bored Ape Yacht Club NFT is $137.8k.
So what makes this NFT collection so popular and expensive?
This article will show you everything you must know about this NFT collection.
Key Takeaways
- The Bored Ape Yacht Club NFT Collection is one of the best and most famous NFT collections in the world.
- There are only 10,000 Bored Ape Yacht Club NFT and there are not going to be more productions.
- Bored Ape is also one of the first NFT collections out there.
- Famous people like Eminem, Jimmy Fallon etc., even bought one of these apes.
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. 1
What Makes Bored Ape Yacht Club So 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. 2
How Can I Buy Bored Apes NFT?
You might be able to buy Bored apes NFT via a secondary market like OpenSea, where you can view their collection.
Bored Apes might be available for sale or for auction on the platform if you are lucky enough. To purchase an NFT, you will need an Ethereum wallet and ETH.
Who Created the Bored Apes?
The creator behind Bored Ape Yacht Club was Yuga labs, which consists of four people who go by pseudonyms.
The two co-founders are Gordon Goner and Gargamel, and the two friends who helped them go by the pseudonyms No Sass and Emperor Tomato Ketchup. 3
Reason Why Bored Apes Are Meant For The Filthy Rich
Bored Apes are considered as status symbols, and it is the epitome of coolness for the youth.
Because there are only 10,000 Bored Apes that were ever created due to high demand, the price is more.
Having Bored Ape NFT can give you access to an exclusive Discord server with certain celebs and some additional perks & tokens.
This NFT is also owned by many celebrities like Snoop Dogg, Shaquille O’Neal, Jimmy Fallon, etc., making it something of a status symbol.
The Verdict
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.
FAQ’s
What is the cost of the cheapest bored ape yacht club?
The cheapest bored ape yacht club will cost you $150,000.
Why would someone buy an NFT?
NFT’s are basically a digital version of art and is somewhat like owning a painting or an art work except its not. The selling & buying of NFT’s allows artists to make a living.
What are the perks of owning an NFT?
If you think about reselling an NFT, you will get a good price still. And if you own a rare or popular NFT, then it might give you access to a Discord server with certain celebs and some additional perks & tokens. 4
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.
ARTICLE SOURCES
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- https://decrypt.co/resources/what-is-bored-ape-yacht-club-the-celebrity-nft-of-choice[↩]
- https://www.investopedia.com/bored-ape-yacht-club-6747275[↩]
- https://www.cryptotimes.io/bored-ape-yacht-club-founders/[↩]
- https://zipmex.com/learn/what-are-nfts/#:~:text=to%20another%20person.-,The%20Benefits%20of%20NFTs,costs%20and%20greater%20asset%20security.[↩]
- https://zipmex.com/learn/what-are-nfts/#:~:text=to%20another%20person.-,The%20Benefits%20of%20NFTs,costs%20and%20greater%20asset%20security.[↩]