Apes Sail the Ether
Digital collectibles are taking over. Not so long ago, only known for being wildly expensive pixelated cartoon humans, anime-themed art, and cartoon animals, today are increasingly becoming the web3 enthusiasts' profile picture of choice. Among the menagerie, however, Apes are the most iconic.
Bored Ape Yacht Club (BAYC) has emerged as both the most expensive and most influential NFT collection, and in this dynamic realm of digital masterpieces and collectibles, the BAYC has recently set a new record by achieving an astounding 1 million ETH in trading volume. This remarkable milestone not only cements BAYC’s position as a cultural sensation but also showcases the transformative potential of Web3, the NFT market, and the future of digital art.
In today’s article, we’ll explore the ramifications of this extraordinary achievement and how BAYC’s triumph is shaping the wider Web3 landscape, redefining our understanding of digital ownership, art, and online communities.
Backstory
The terms “Apes” and “Apeing” hold considerable cultural weight among those involved in the world of cryptocurrency. They are commonly used to describe blindly investing in something, typically stocks, cryptocurrencies, and digital assets. As retail interest in investing grew during the COVID-19 pandemic, so did the usage of the term. If you spent time during that period on subreddits such as WallStreetBets or on Twitter you probably bumped into the term in every other post.
In an old interview with CoinDesk, founders Gordan Goner and Gargamel shared their vision for an exclusive club with access to a members-only bar. They chose Apes as the preferred members, which led to the creation of the Bored Ape Yacht Club.
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https://www.renft.io/blog-posts/apes-sail-the-ether-and-the-boom-of-digital-collectibles
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