Bored Ape Yacht Club NFT Review: Team, Utility, Roadmap, And More
The Bored Ape Yacht Club (BAYC) sits among the best NFT projects in the entire space today. Institutional investors and celebrities have been investing in both the company and its NFTs, placing the project in mainstream media countless times. Join us as we take a deep dive into this behemoth of an NFT collection.
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What Is The Bored Ape Yacht Club All About?
The BAYC NFT collection features 10,000 unique Bored Ape NFTs, doubling as a ticket into one of the most exclusive communities in the NFT space. In April 2021, the team set aside 30 apes and released the rest of the NFTs into the market at a flat 0.08 ETH. This collection differentiated itself from CryptoPunks by giving ownership and commercial usage rights to the NFT owners, which the community appreciated dearly.
The Bored Ape Yacht Club has evolved from a 10k pfp project into a dominant NFT ecosystem with creative NFT drops, cryptocurrencies, and even their own metaverse project. Their success paved the way for many new NFT projects, creating a historic NFT bull run together.
Who Is Behind The Bored Ape Yacht Club NFT Collection?
Yuga Labs, the company behind the Bored Ape Yacht Club was founded by two friends, Greg Solano and Wylie Aronow. They then onboarded two software engineers, Kerem and Zeshan, to help them create the NFT collection. The 4 co-founders are now running the show, along with manager Guy Oseary.
Most recently, the company raised $450 million from Andreessen Horowitz, effectively valuing the company at a whopping $4 billion. Other prominent backers include FTX, MoonPay, Animoca Brands, and many others.
Bored Ape Yacht Club Official Links
BAYC website: https://boredapeyachtclub.com/
BAYC Twitter: https://twitter.com/BoredApeYC
BAYC Discord: https://discord.com/invite/3P5K3dzgdB
BAYC Instagram: https://www.instagram.com/boredapeyachtclub/
BAYC YouTube: https://www.youtube.com/channel/UCB6R9NAjkgxQi_QEkc4O25Q
What Is The Bored Ape Yacht Club Utility?
Bored Ape Yacht Club NFT holders have received many goodies, especially those that have held on since the very beginning. Firstly, each of the 10k Bored Apes received a canine companion from the Bored Ape Kennel Club (BAKC). These dogs were selling for more than 10 ETH at one point, handsomely rewarding the early adopters. Most importantly, the royalty fees from the secondary market were donated to Wright-Way Rescue, a non-profit organisation focused on rescuing homeless pets.
In addition, each BAYC NFT holder also received a vial of Mutant Serum. When a Bored Ape is exposed to the serum, a Mutant Ape is formed. This gives existing holders an entirely new NFT, while welcoming new members to the community at a lower entry price. Currently, the MAYC NFT collection has a floor price of 19.49 ETH, and is one of the top 3 NFT projects by all-time sales volume.
In March, Yuga Labs announced the launch of their own cryptocurrency token: ApeCoin. Holders of BAYC were eligible to claim free ApeCoin tokens, rewarding them for their loyalty to the project.
Recently, the holders of BAYC and MAYC NFTs also received their Otherdeeds land NFTs, which is part of the new Otherside metaverse project. Each land NFT contains a unique set of resources that can be used in the game later on. And for the lucky few, their land may even contain a Koda NFT, which is essentially a race of celestials in the Otherside metaverse.
Besides these airdrops, holders are regularly invited to exclusive parties such as the annual ApeFest and other in-person events. The recent ApeFest 2022 was held at Pier 17, New York on June 20-23, 2022.
The Bored Ape Yacht Club NFT Roadmap
The initial BAYC roadmap has been completed and Yuga Labs is now moving on to greater things. All hands are on deck for the Otherside metaverse project and the apes are extremely excited. The team is now conducting their first test with the codename ‘First Trip’. With the help of Animoca Brands, Yuga Labs is developing an immersive 3D environment where users can interact simply through their Chrome web browsers. It should also feature real-time voice chat and spatial audio to boost the user experience.
The Bored Ape Yacht Club Sewer Pass
Yuga Labs recently announced a free mint for BAYC and MAYC holders for a “Sewer Pass NFT”. The Sewer Pass basically gives owners access to a game called Dookey Dash, a browser based game which instructs holders to reach a score above 0 to validate their pass and transform them to a mysterious power source. Based on the project’s roadmap, the whole experience will be part of a bigger project called “Chapter 1” which will be launched at a later date. The Sewer Pass mint date was supposed to be on 18 January 2023 however due to unforeseen circumstances it was delayed. Overall, a great initiative by Yuga Labs to reward its holders and to build strong brand loyalty.