The NFTs were originally sold for 0.08 ether each, around $190 at the time of their April 2021 launch and were sold out in 12 hours. Membership to the club includes access to THE BATHROOM (stylized in all caps), a digital graffiti board where users commonly "draw dicks," according to the founder. The NFTs function dually as a membership card to Yacht Club. The collection exists on the Ethereum blockchain and contains 10,000 unique NFTs derived from 172 unique assets. Bored Ape NFTs owners are considered in possession of "a unique unit of data recorded in a digital blockchain, which permanently records its provenance or sales history." Kerem Atalay ("Emperor Tomato Ketchup")Īccording to the Bored Ape Yacht Club (BAYC) website, the NFT collection was created by four friends who "set out to make some dope apes, test skills, and try to build something (ridiculous)." Bored Ape NFTs, like other NFTs created and used for digital art purposes aim to provide its owners the "original" artwork.Development and function Yuga Labs LLC Founded Various celebrities have purchased these non-fungible tokens, including Justin Bieber, Snoop Dogg, Gwyneth Paltrow and others. This is due in large part to the sales of the Bored Ape Yacht Club NFT collection totalling over US$1 billion as well as high value auction sales from their investor, now defunct FTX. Īs of 2022, Yuga Labs is valued at US$4 billion. Owners of a Bored Ape NFT are granted access to a private online club, exclusive in-person events, and intellectual property rights for the image.
The parent company of Bored Ape Yacht Club is Yuga Labs. The collection features profile pictures of cartoon apes that are procedurally generated by an algorithm. Bored Ape characters used by the creators of the projectīored Ape Yacht Club, often colloquially called Bored Apes, Bored Ape or BAYC, is a non-fungible token (NFT) collection built on the Ethereum blockchain.
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