MAYC: Let NFTs Value Evolve From Mutation
CryptoPunks sparked the upsurge of PFP NFTs. The birth of BAYC in April last year attracted less enthusiastic groups’ attention and made them join the NFTs collection wave.
Nowadays, there are many celebrities in the BAYC community, such as Rapper Eminem, talk show host Jimmy Fallon, and NBA stars Stephen Curry and Shaquille O’Neal are all holders and advocates of BAYC.
With the deepening of the project’s process, last August, the Mutant Ape Yacht Club launched by the BAYC team once again set off the hype. MAYC’s NFT looks like the “mutant” of BAYC, and it is also true in the setting of the project.
Yuga Labs, the parent company of MAYC, has ambitious goals. They aim to create a breakthrough NFT community and a new form of ecology. The success of MAYC means the further implementation of their plan. MAYC has the following outstanding features:
1. MAYC was launched in August 2021, with a total of 20,000 apes. It is divided into 10,000 mutant apes transformed from mutant serum and 10,000 mutant apes mint through a Dutch auction.
2. Holders of MAYC can have a very personalized PFP and have the ecological access right of MAYC and full ownership and commercial use rights of the NFT. At the same time, the holder also has the right to join the Yuga Labs metaverse project.
3.MAYC has 9 types with 360 traits in total. However, from the perspective of value judgment, it does not mean that the more traits, the higher the price. Nowadays, most MAYC with high price ranking only has one trait. This is because “no traits” are rarer than “trait overlays.”
4. MAYC’s floor price reached the highest point of the year on May 8 this year, and its sales reached $1.5 billion in May.
5. MAYC follows its sister projects BAYC, CryptoPunks, and Axie Infinity in the historical sales ranking.
6. The emergence of MAYC complements BAYC’s 1.0 roadmap, enabling BAYC ecology to unlock roadmap 2.0.
Knowing MAYC
MAYC “mutated” from the most successful project of Yuga Labs, BAYC. This kind of innovation has never appeared before.
The goal of BAYC’s ecology is to continuously attract members and let members “enjoy themselves” in the community in various ways. Therefore, MAYC was created for two reasons. On the one hand, BAYC’s existing holders can enjoy more benefits. On the other hand, it can attract more new members to join the BAYC ecological community at a lower cost. After all, BAYC has only a 10,000 supply. With the increase in its popularity, the threshold for its participation is higher and higher. Private communities are good, but closed ecology is not good.
Therefore, the introduction of MAYC is of great significance.
MAYC has 20,000 apes in total. First of all, 10,000 are prepared for an airdrop to MAYC’s existing holders. Another 10,000 pieces were sold by Dutch auction. This can connect the old and new holders of BAYC.
In addition, MAYC’s innovation lies in its airdrop method, which does not directly airdrop NFT into the holder’s wallet, but gives three different types of “serum” to the current holders.
What is serum?
The serum is the “intermediate asset” between BAYC and MAYC, which is divided into M1, M2, and MEGA. Yuga Labs backs up the wallet data of all existing BAYC holders to count the BAYC in each member’s wallet. The air-dropped serum will be matched with the holder’s BAYC through the serial number and entered into the matched wallet. As long as the serum is fused with the existing BAYC, a new BAYC can be generated.
MAYCs produced by serum are the products of the “mutants” of the original BAYCs, so the shadow of the original BAYC can still be seen from the appearance and traits. However, they are different, and the rarity ranks are different. The BAYC you have already held will not be affected in any way and still exists safely in your wallet.
How to AirDrop Serum?
In order to ensure the fairness of the serum distribution, the project party designed the distribution mechanism of the serum.
First, 10,000 original data are recorded in the order of 7500 M1, 2492 M2, and 8 MEGA on the chain. Then, the original data was shuffled 600,000 times with the Fisher-Yates shuffle algorithm to form basic data. The third is to use Chainlink VRF to generate verifiable random numbers and random initial indexes. The digital ID of 1–10,000 is calculated for the initial index through the contract on the chain and airdrop this serum into the BAYC wallet that matches their ID. For example, if a wallet contains three BAYC 201, 202, and 203, the wallet will receive three variant serum with 201, 202, and 203 ID.
At the same time, it should be noted that serum, as an intermediate asset, can also be traded in the secondary market without being used. This design also provides a new way for the OG of BAYC to make profits, and also provides the opportunity for BAYC latecomers who have not received these airdrops to have their own serum and MAYC.
In addition to the mutant through serum, another 10,000 MAYC were sold through Dutch auction and sold out within 8 hours. According to OpenSea data, MAYC jumped to the top 10 of the sales list within 24 hours after its launch. As of May 29, the floor price was 19 ETH.
The Significance of MAYC to BAYC
According to the official statement, MAYC complements the 1.0 roadmap of BAYC’s “club” concept. Its launch means that BAYC has succeeded in the first step of its operational strategy.
Therefore, after the successful launch of MAYC, the official revised the new road map, namely road map 2.0.
On March 16, 2022, the project party issued an announcement, warmly inviting the holders of BAYC and MAYC to become members of Ape Foundation DAO and launched their own governance token ApeCoin for members of Ape Foundation DAO.
At the same time, BAYC launched a three-day MAYC game. The winner of the game will receive a POAP as a badge to defeat mutant apes in three days, which also makes MAYC holders gain more benefits.
Although the membership of MAYC is one level lower than that of BAYC in the setting, the position of MAYC is very important in the overall ecosystem of BAYC because MAYC can solve the problems of two groups of people.
One aspect is to open up the channel for some early BAYC members to return to the community. Because some BAYC members realized financial freedom by selling their own BAYC, they also lost the members of the BAYC club due to the binding of NFT holding and membership. Under this mechanism, the existing BAYC member stratum will be solidified, and the ecology will become closed and inactive; If you purchase MAYC, you can go back to the BAYC community.
The second is the new members who want to join in the later stage after the BAYC project has exploded. BAYC’s purchase threshold is now very high. The emergence of MAYC has given them a new opportunity — although the membership level is not as good as BAYC, it is also very attractive for these new members to enjoy the next member benefits and get the admission ticket of BAYC metaverse.
On the other hand, before MAYC, BAYC once dropped the pet “BORED APE KENNEL” to the holder. The NFT is set as a pet dog of bored apes, and the holder can adapt it for free by paying the gas fee. However, the total number of BAK is only 10,000, which is only airdropped to BAYC holders. The community and the market have received little response.
This is because the value of BAK is highly tied to BAYC, thus losing the scarcity and variability (compared with the three serum changes of MAYC). However, people outside the BAYC community did not have the opportunity to receive it at the beginning. The art style design is normal, which is also very different from BAYC. More people buy it through speculation to make money. Therefore, the historical highest floor price of BAK is only 10.9 ETH.
The emergence of MAYC makes up for the regret of BAK, further expands the community of BAYC, and provides a foundation for it to build a complete and rich metaverse.
Future of MAYC
According to Yuga Labs’ Club route planning, MAYC will integrate with more industries in the future, not limited to the fields of fashion, art and games. But what specific industries will be combined? What are the effects? What does it mean for players in the BAYC community? All this needs to be verified over time.
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