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“Errors using inadequate data are much less than those using no data at all.” — Charles Babbage, inventor and mathematician

Bear Run Resiliency— Bored Ape Yacht Club (BAYC)

Source: BAYC Overview Section — NFTicker

Welcome to the first analysis in a series of NFT collection analyses on Ethereum and Solana NFTs. We will cover a deeper dive into the Bored Ape Yacht Club (BAYC) NFT collection on Ethereum.

All the data, graphs, and metrics are tracked using https://www.nfticker.info

We are in the open beta phase where the entire platform is available for free for both collection analytics and wallet NFT portfolio tracking.

Overview

Bored Ape Yacht Club (BAYC) is an NFT collection from Yuga Labs (a Web 3 firm) having 10,000 programmatically generated Bored Ape NFTs. The NFTs are generated through different combinations from a mix of over 170 traits.

After the success of BAYC, Yuga Labs moved on to create the “Bored Ape Kennel Club (BAKC, launched Jun2021) ” and “Mutant Ape Yacht Club” (MAYC, launched Aug2021).

With the tremendous growth, Yuga Labs decided to form an Apecoin DAO bringing the entire ecosystem under a single umbrella and launched the Apecoin token in March 2022.

In April 2022, the team launched a fourth collection — Otherside which is a virtual land collection for the upcoming BAYC metaverse.

They have gathered a strong social following of 976K followers on Twitter and whooping 208K members on Discord.

Market Trends

Source: BAYC Charts Section — NFTicker

Market Capitalization

BAYC grew exponentially with its market cap increasing over 500 folds from $2.2Mn post mint to a peak of 1.1Bn. It has recently seen its first ever dip in Market Cap (in $) in the month of June 2022. There has been a 1.2% drop in its market cap over the course of the last 3 weeks of June 2022 which was one of the lowest drops as compared to other collections in the same time period.

Volume

Even in the face of the huge bear market, trading volume in June 2022 has been at acceptable levels, not dropping below its previous lows with the average June 2022 weekly trading volume at ~$20M

Floor Price

The floor price climbed to its all-time maximum of 154ETH on 30th April 2022. The journey since then has been a downhill one with the most recent Floor being 91ETH (40% drop from its peak) at the time of writing this article.

  • The average price of the BAYC NFT sales over the course of the last 3 months has dropped by 40% along with the floor price.
Source: BAYC Charts Section — NFTicker

Holders

  • The total supply is held in 6417 unique wallets ie the owner-supply ratio is 64%.
  • Unique wallets holding this collection increased dramatically from 981 unique minters on 1st May to ~6000+ unique holders by mid Nov 2021. Since then, unique owners have slowly increased or remained constant indicating resilience to this bear market.
Source: BAYC Holders Section — NFTicker
  • 6803 NFTs (68% of total supply) have been held by wallets for more than 90 days without any sale.
  • 1235 NFTs (12% of total supply) are yet to be sold for the first time since mint. Holders of these NFTs are called diamond hands.
Source: BAYC Holders Section — NFTicker
  • The token distribution is great with no large accumulation in individual wallets. The top 5 holders own 6.25% of the total supply.
  • pranksy.eth (minted a total of 1250 BAYC NFTs) currently owns no BAYC.

Minting

Publically, the first BAYC was minted on 23rd April 2021 at 21:56 UTC at the minting price of 0.08ETH. The BAYC team had minted 30 BAYC NFTs one day before the public launch at a price of 0ETH. The minting lasted for a total of 9 days closing on 1st May 2021 with all the 10000 NFTs being minted by 981 unique wallets. The hype and traction were very low for the first 8 days with 93% of the supply being minted on the last day only.

  • pranksy.eth (one of the biggest NFT whales on ETH) minted a total of 1250 bored ape NFTs, spending 100ETH on this collection.
  • Top 10 minters minted 30% of the total supply (3014 BAYC NFTs)
Graph depicting the Number of BAYC NFTs being minted over its minting period
Source: BAYC Mint Data section — NFTicker

Conclusion

BAYC is a Blue-chip NFT collection that is one of the cornerstones of the NFT industry. They are still in demand with more and more people wanting to become a part of its legacy every day. At the time of writing this article, I do not own a BAYC NFT but hope to be a holder one day.

This article was written to help users understand more about the BAYC collection, share some valuable insights, and quirky facts.

Data Source

We have used our platform NFTicker for all the above analysis and invite everyone to come check out NFT collections of Ethereum and Solana, do your own research, and make your money flipping NFTs. (We are absolutely free in our beta phase)

We also provide ETH and SOL wallet’s NFT portfolio for not just yours but any wallet in the entire ecosystem of both the blockchains.

Website: https://www.nfticker.info/

Twitter: https://twitter.com/NFT_Ticker

Discord: https://discord.com/invite/2tYKWjCjph

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