1. Introduction
BAYC is a collection of 10,000 Bored Ape NFTs — — it is a unique digital collectible living on the Ethereum blockchain. Your Bored Ape NFT also serves as your Yacht Club membership card and grants members exclusive rights. The first right is to use the collaborative graffiti board THE BATHROOM. The community can unlock future areas and privileges through development roadmap activation.
2. Fair distribution
The initial price to buy Bored APE is 0.08 ETH. There are no price levels, BAYC membership fees are the same for everyone. All the Bored Apes have been sold, and they can only be bought and sold in open markets like OpenSea. The current price ranges from 11ETH-99,999ETH, and the highest price is even marked as 99,999,999,999,999ETH.
3. Bored Ape NFT Introduction
Specification
Each Bored Ape is unique and is programmatically generated by more than 170 possible features, including facial expressions, headwear, clothing, etc. Apes are stored as ERC-721 tokens on the Ethereum blockchain and hosted on IPFS. The cost of buying a Bored Ape is 0.08 ETH. Bored Ape NFT holders need to log in to their Metamask wallet for verification to access members-only areas, such as bathrooms.
When you buy a bored ape, you are not just buying an avatar or provably rare artwork. You are gaining membership in a club whose benefits and products will increase over time. Your Bored Ape can serve as your digital identity and open the digital door for you.
Graffiti Board The Bathroom
BAYC bathroom will be put into use after the end of the pre-sale period. It contains a canvas that can only be accessed by wallets with no less than one Bored Ape NFT. Just like any dive bar bathroom, this is a place to paint, do graffiti or write bad words. Every Bored Ape NFT can draw a pixel on the bathroom wall every fifteen minutes. It is regarded as a collaborative art experiment in the encryption field.
Future route activation
The BAYC will work on this for a long time. At the same time, the BAYC set up some goal posts for themselves. Once they reach the target sales percentage, they will start working hard to achieve the set target.
4. Community Tools
Here are some useful tools created by the Bored Ape Club community. Please note that these are unofficial. Every assignment of the overall value or rarity of the apes is inherently subjective.
https://nftexp.io/explore/bored-ape-yacht-club
https://rarity.tools/boredapeyachtclub
5. Afttribution analysis
Fair distribution + scarcity
The unit price of Bored Ape is 0.08 ETH. This pricing method reflects the thinking of the project party. They believe that the rarer the more expensive is a Ponzi scheme. The minting method of Bored Ape NFT makes it uniquely scarce compared to other NFTs. These Apes have 7 attributes (background, clothes, earrings, eyes, fur, hat and mouth), and each Bored Ape is assembled from the material library of these 7 attributes. This NFT minting design creates a Bored Ape image system. This Bored Ape image system allows its club members to be easily distinguished, but at the same time it is unique. Fair pricing coupled with its scarcity has become a major attraction for NFT collectors.
Social + community + uniqueness of identity
The community based on the club is one of the important reasons for the rapid development of BAYC. For BAYC players, the Bored Ape NFT is not only a collection attribute, but also a ticket to the club. Similar to clubs in college, connect players with Bored Ape, and players will feel different because of joining such a club. Each Bored Ape NFT is like a unique “tattoo” on a club member, which allows others to easily identify its membership but is different. In addition, players also like to use bored apes as their social account avatar and follow each other, making Ape follow Ape a trend.
Celebrity effect
From the beginning, the well-known collector Pranksy began to pay attention to the project and purchased more than 250 Bored Ape NFTs, and later various celebrities with their own traffic joined BAYC, including foreign NBA players LaMelo Ball, DJ Bassjackers, etc., as well as Chinese stars such as Chen Bolin, Wu Jianhao, Shawn Yue and others. The addition of these celebrities greatly increased the popularity of BAYC, making it a trend.
Member benefits
Each and only BAYC members can enjoy the exclusive benefits of club members. The current bonus is to enter the collaborative graffiti board “The Bathroom” launched on the official website to do graffiti. This is a platform for collaborative creation and can also be regarded as a collaborative art experiment. The project also launched The Bored Ape Kennel Club, each club member can adopt a Club Dog NFT for free, and Club Dog has experienced a surge in the secondary market.
The copyright belongs to the holder
The official transfer the copyright of the Bored Ape to the holder of the NFT, the holder can use, copy and display the image of the Bored Ape and has complete commercial use rights. Therefore, holders of the Bored Ape NFT can develop a variety of peripheral products, including clothes, shoes, bags, hats, stickers and so on.
6. Conclusion
So far, most of the functions of NFT can only be applied to simple games or become the virtual image in the virtual world of the holder, but they have been recognized by the majority of fans. The main reason is from the human spirit of exploring the future world. The Bored Ape captures people’s inner activities, attracts the attention of buyers with similar luxury marketing methods, and has made great achievements. As for whether it can really become the core item of the future world, time will give us the answer.
Disclaimer:
This report only represents insights from 8090 Investment & Research for purpose of sharing and communication, and cannot be considered as formal investment advice.
