BAYC Review: Everything About the Collection & Whether You Should Buy

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The moment you start researching NFTs, you're going to be greeted with a bunch of acronyms that you don't understand. One of the most prominent will be BAYC.

BAYC stands for Bored Ape Yacht Club and is one of the most valuable NFT projects ever released. Quietly launched in the spring of 2021, it has since become one of the most valuable asset classes in the world.

There are only 10,000 of these popular NFTs, and to get one today means shelling out at least six figures.

But what makes these images of bored apes worth the money? And was the project this hyped up from the beginning? The answer may surprise you.

Keep reading below to learn everything you need to know about the Bored Ape Yacht Club NFT project, and if it's too late to buy in, or if you should take the plunge.

What Is BAYC?

BAYC is an NFT collection comprised of 10,000 unique non-fungible tokens. Each token has its own address on the blockchain, and ownership is tracked to prevent fraud and protect property rights.

The result is a JPEG image of a bored ape. The images feature the head and shoulder of an ape with humanized traits, such as mohawks, sailer hats, gold teeth, and sunglasses.

But rather than designing 10,000 individual pieces of art, the project is a generative NFT project. This means that the designer behind BAYC drew a few hundred unique elements, such as eyes, headwear, and clothing.

They then ran the design elements through code, and randomly generated 10,000 unique images using various combinations of each trait. While many of the apes share some of the same traits, no two apes are exactly the same.

BAYC Rarity

The team behind BAYC also assigned each design element with a rarity level. So each trait in a collection is only used a certain number of times.

For example, you can look at BAYC #3749. It features six different traits. Some, like the black t-shirt, were used over 300 times in the collection, making it not so rare.

But other traits, like the laser eyes and the solid gold fur, make this ape the 27th rarest ape out of 10,000.

When the collection was first launched, collectors "minted" the NFT. They didn't know what ape they got until after the collection had sold out. So people were buying blindly.

Today, the NFTs sell on secondary marketplaces like OpenSea, and you can choose which you'd like to purchase if any are currently for sale. You can also browse the entire collection and make an offer on an NFT, even if it isn't listed for sale.

Benefits of Holding a BAYC NFT

At its core, a BAYC NFT is a token that lives on the blockchain. That token has an image associated with it; the JPEG of a cartoon ape.

Is there any reason to buy and hold onto one of these apes? Or is flipping for a profit the name of the game?

For one, the project allows holders complete ownership over their NFT image. That means if you own a BAYC NFT, you can reproduce the image in any way that you want.

You can make merchandise out of it, stickers, artwork, or anything else your heart desires. And because you have commercial rights, you can even sell products containing your ape image.

NBA player Tyrese Haliburton even had custom basketball shoes made with his BAYC on them. He played his best game of the season wearing those shoes.

The token also acts as a membership card. Holders get access to THE BATHROOM, which is a collaborative, virtual graffiti board.

And of course, holding a BAYC gives you flexing privileges. Many owners, including the likes of celebrities and athletes like Steph Curry, have used their BAYC as their social media profile picture. Don't you want to be on the same level as Steph?

History of the BAYC NFT

BAYC was created and launched by a team of four pseudonymous founders that go by the names of Gordon Goner, Gargamel, No Sass, and Emperor Tomato Ketchup.

The two primary founders Gordon Goner and Gargamel, are both from Miami, where they met years prior in a dive bar.

The team was inspired by iconic projects like CrpytoPunks. But they wanted to launch an NFT project that combined crypto-based art with gamification and membership perks.

While the founders appreciate NFT as an art medium, the utility was of the utmost importance. They wanted holders to be able to "do something" with their NFTs.

So, Bored Ape Yacht Club was born. The name comes from the idea of "ape-ing" into an opportunity in the cryptocurrency market without doing much research. Every now and then, people strike it rich.

While some members of the team had some exposure to crypto and NFTs, none of them were qualified to launch a large-scale NFT project with custom smart contracts.

It was a learning experiment, riddled with fear and excitement. But eventually, the team launched the project, providing a week-long presale event for those with early access.

The mint price was 0.08 ETH, which was worth about $300 at the time. The presale was slow, making a handful of sales over the course of some very long days.

But then presale ended and the public was allowed to mint. They sold out that day.

The Team Behind BAYC

BAYC has become a global phenomenon. Even people who have no idea what NFTs are are familiar with the images of these apes, as they are currently invading pop culture around the globe.

But after all that, the identity of the founders remains anonymous. This is quite common in the crypto and NFT space. But given that the project is such a success, you think that someone would want to claim all of that fame.

The team has created a Web3 company, called Yuga Labs. But even their website has zero information about the team.

But, with the team creating so much value for their community, and launching multiple NFT projects since the release of BAYC, you can rest assured that these founders care and aren't going to leave their holders behind.

BAYC NFT Price Performance

On launch day, you could've purchased a BAYC NFT for 0.08 ETH or about $300 at the time.

The project took off pretty quickly after selling out. A few months later, in August 2021, the floor for BAYC fluctuated between $40,000 and $80,000. In January 2022, the floor price was about $250,000.  

The floor price is the lowest price you can expect to pay for an NFT. If you're buying at the floor price, you're probably buying the least rare apes available.

Apes with a higher rarity score are selling for much more than the floor price. A few BAYC NFTs have already sold for more than $1 million.

While it would've been the best investment of your life if you got in during the mint, it would still be great if you bought in at $50,000.

BAYC Project Hype

Within the first six months, BAYC became the most popular NFTs among celebrities.

Mark Cuban, the famous investor, and owner of the Dallas Mavericks is a member of the BAYC, thanks to receiving his NFT as a gift in May 2021. Jimmy Fallon of television fame also holds a BAYC.

Stephen Curry purchased his BAYC in August 2021 for the paltry sum of about $180,000. He displayed his ape on his profile picture for a period of time. The big man Shaq himself used his MAYC as his profile picture.

DJ Steve Aoki is an NFT enthusiast and added his eighth Bored Ape in January 2022. He also holds some Mutant Apes as well.

Notable figures in the music industry, including The Chainsmokers, Future, Post Malone, DJ Khaled, Rich the Kid, Marshmello, Mike Shinoda from Linkin Park, and many others also own and have shared their BAYC.

Universal Music Group has formed a band called Kingship, featuring four different Bored Apes, that will perform in the metaverse.

BAYC also partner with Rolling Stone Magazine and was featured on the cover. They've also collaborated with Arizona Iced Ted and Addidas.

And there's no slowing down for the BAYC. In 2022 and beyond, we'll see a lot more happening with this fast-growing brand.

Where Is BAYC Going in the Future?

After selling out of their BAYC NFTs in the spring of 2021, the team hasn't slowed down. They've since launched three additional NFT collections.

The first was Mutant Ape Yacht Club. The idea behind this project was to mutate the original apes into psychedelic creatures, modeled after the originals.

BAYC holders are able to "mutate" their current BAYC using another token called Mutant Serum. By combining these two, a new NFT from the MAYC is minted, and your original Bored Ape stays intact.

Bored Ape Kennel Club is the third project in the BAYC family. The idea was to bring a four-legged friend to each Ape in the swamp. All BAYC were allowed to mint a free BAKC NFT, as long as they paid their own gas fees.

There was no public sale, so the only BAKC NFTs in circulation came from BAYC holders. All royalties from secondary sales are donated to animal shelters.

BAYC has also announced a partnership to develop its own play-to-earn game.

We can expect BAYC to develop more prominent partnerships in the media industry, to help build a buzz for BAYC as well as the NFT space at large.

We can also expect the BAYC team to continue developing new projects, both for existing holders and for the general public to get in on as well.

Alternative NTF Collection to Consider

If you were in the loop in early 2021, you could've picked up a BAYC NFT for a few hundred dollars. But nobody anticipated the growth that the project would experience.

During the NFT gold rush over the summer of 2021, a handful of projects saw massive price increases. While it's great for holders, it's not so great for those interested in buying in.

If you can't quite afford BAYC, which most people can't, there are plenty of alternative collections to invest in.

Nobody knows which projects are going to become the next BAYC. But many other projects have huge communities, lots of price potential, excellent art, various utilities. Here are some NFTs to buy in 2022.

BAYC Derivatives

Derivative projects are those that are inspired by other projects but add their own unique twist. There are countless BAYC derivatives out there.

Some that show signs of promise include Superlative Apes, Apocalyptic Apes, Ape Kids Club, and Desperate Ape Wives.

Doodles

Doodles is already a well-established NFT project. But it was only launched in October 2021. In January 2022, the floor price hovered around 10 ETH ($33,000).

The art is colorful, simple, and wonderful. Those that own a Doodles NFT are almost guaranteed to use them as their profile picture online.

Alien Frens

10,000 adorable Alien Frens, divided into four species (colors). Holding an Alien Fren provides you access to exclusive merch, IRL events, invasions, comic books, games, and more.

CryptoMories

Life is short. That's what CryptoMories will remind you of. 10,000 skeletons that you will love holding onto. And they have one of the most active communities of holders, which is likely to drive the value up.

Should You Buy BAYC?

BAYC is a blue-chip investment. It has solidified itself as one of the reigning champions of the NFT space. The value will continue rising in 2022 and beyond, especially as more and more celebrities, professional athletes, and other notable figures scoop them up.

Owning a BAYC NFT is as much a status symbol as it is an investment. There are only 10,000 of them. And everyone wishes they had one.

They won't be going out of style any time soon.

So should you invest in one? If you have the money to comfortably make a purchase, it's a good decision. It's kind of like owning a house. Price action may fluctuate as the market goes through cycles.

But they will always be in demand, and their value isn't going to disappear. Rather, it could end up being a solid long-term investment as the NFT space grows to reach the masses.

However, if you don't quite have the funds, or have to liquidate other assets in order to buy one, think long and hard. Don't rush the decision. Don't risk money you can't afford to lose.

And if you decide to jump in, make sure to find the perfect one to purchase, as it becomes a reflection of you.  

BAYC Is Here to Stay

BAYC wasn't the first generative NFT project on the block, but it's one of the most important, and one of the most valuable. In less than a year, it has become an icon in pop culture and is still being purchased and shared prominently by regular people and celebrities alike.

You don't have to be a celebrity to benefit from one, but you may need to be one in order to afford one.

Looking for more tips on upcoming NFT projects? Head over to our blog now to find the latest NFT news.

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Joao gil
19.1.2022

BAYC Review: Everything About the Collection & Whether You Should Buy

Collection

8.2

The moment you start researching NFTs, you're going to be greeted with a bunch of acronyms that you don't understand. One of the most prominent will be BAYC.

BAYC stands for Bored Ape Yacht Club and is one of the most valuable NFT projects ever released. Quietly launched in the spring of 2021, it has since become one of the most valuable asset classes in the world.

There are only 10,000 of these popular NFTs, and to get one today means shelling out at least six figures.

But what makes these images of bored apes worth the money? And was the project this hyped up from the beginning? The answer may surprise you.

Keep reading below to learn everything you need to know about the Bored Ape Yacht Club NFT project, and if it's too late to buy in, or if you should take the plunge.

What Is BAYC?

BAYC is an NFT collection comprised of 10,000 unique non-fungible tokens. Each token has its own address on the blockchain, and ownership is tracked to prevent fraud and protect property rights.

The result is a JPEG image of a bored ape. The images feature the head and shoulder of an ape with humanized traits, such as mohawks, sailer hats, gold teeth, and sunglasses.

But rather than designing 10,000 individual pieces of art, the project is a generative NFT project. This means that the designer behind BAYC drew a few hundred unique elements, such as eyes, headwear, and clothing.

They then ran the design elements through code, and randomly generated 10,000 unique images using various combinations of each trait. While many of the apes share some of the same traits, no two apes are exactly the same.

BAYC Rarity

The team behind BAYC also assigned each design element with a rarity level. So each trait in a collection is only used a certain number of times.

For example, you can look at BAYC #3749. It features six different traits. Some, like the black t-shirt, were used over 300 times in the collection, making it not so rare.

But other traits, like the laser eyes and the solid gold fur, make this ape the 27th rarest ape out of 10,000.

When the collection was first launched, collectors "minted" the NFT. They didn't know what ape they got until after the collection had sold out. So people were buying blindly.

Today, the NFTs sell on secondary marketplaces like OpenSea, and you can choose which you'd like to purchase if any are currently for sale. You can also browse the entire collection and make an offer on an NFT, even if it isn't listed for sale.

Benefits of Holding a BAYC NFT

At its core, a BAYC NFT is a token that lives on the blockchain. That token has an image associated with it; the JPEG of a cartoon ape.

Is there any reason to buy and hold onto one of these apes? Or is flipping for a profit the name of the game?

For one, the project allows holders complete ownership over their NFT image. That means if you own a BAYC NFT, you can reproduce the image in any way that you want.

You can make merchandise out of it, stickers, artwork, or anything else your heart desires. And because you have commercial rights, you can even sell products containing your ape image.

NBA player Tyrese Haliburton even had custom basketball shoes made with his BAYC on them. He played his best game of the season wearing those shoes.

The token also acts as a membership card. Holders get access to THE BATHROOM, which is a collaborative, virtual graffiti board.

And of course, holding a BAYC gives you flexing privileges. Many owners, including the likes of celebrities and athletes like Steph Curry, have used their BAYC as their social media profile picture. Don't you want to be on the same level as Steph?

History of the BAYC NFT

BAYC was created and launched by a team of four pseudonymous founders that go by the names of Gordon Goner, Gargamel, No Sass, and Emperor Tomato Ketchup.

The two primary founders Gordon Goner and Gargamel, are both from Miami, where they met years prior in a dive bar.

The team was inspired by iconic projects like CrpytoPunks. But they wanted to launch an NFT project that combined crypto-based art with gamification and membership perks.

While the founders appreciate NFT as an art medium, the utility was of the utmost importance. They wanted holders to be able to "do something" with their NFTs.

So, Bored Ape Yacht Club was born. The name comes from the idea of "ape-ing" into an opportunity in the cryptocurrency market without doing much research. Every now and then, people strike it rich.

While some members of the team had some exposure to crypto and NFTs, none of them were qualified to launch a large-scale NFT project with custom smart contracts.

It was a learning experiment, riddled with fear and excitement. But eventually, the team launched the project, providing a week-long presale event for those with early access.

The mint price was 0.08 ETH, which was worth about $300 at the time. The presale was slow, making a handful of sales over the course of some very long days.

But then presale ended and the public was allowed to mint. They sold out that day.

The Team Behind BAYC

BAYC has become a global phenomenon. Even people who have no idea what NFTs are are familiar with the images of these apes, as they are currently invading pop culture around the globe.

But after all that, the identity of the founders remains anonymous. This is quite common in the crypto and NFT space. But given that the project is such a success, you think that someone would want to claim all of that fame.

The team has created a Web3 company, called Yuga Labs. But even their website has zero information about the team.

But, with the team creating so much value for their community, and launching multiple NFT projects since the release of BAYC, you can rest assured that these founders care and aren't going to leave their holders behind.

BAYC NFT Price Performance

On launch day, you could've purchased a BAYC NFT for 0.08 ETH or about $300 at the time.

The project took off pretty quickly after selling out. A few months later, in August 2021, the floor for BAYC fluctuated between $40,000 and $80,000. In January 2022, the floor price was about $250,000.  

The floor price is the lowest price you can expect to pay for an NFT. If you're buying at the floor price, you're probably buying the least rare apes available.

Apes with a higher rarity score are selling for much more than the floor price. A few BAYC NFTs have already sold for more than $1 million.

While it would've been the best investment of your life if you got in during the mint, it would still be great if you bought in at $50,000.

BAYC Project Hype

Within the first six months, BAYC became the most popular NFTs among celebrities.

Mark Cuban, the famous investor, and owner of the Dallas Mavericks is a member of the BAYC, thanks to receiving his NFT as a gift in May 2021. Jimmy Fallon of television fame also holds a BAYC.

Stephen Curry purchased his BAYC in August 2021 for the paltry sum of about $180,000. He displayed his ape on his profile picture for a period of time. The big man Shaq himself used his MAYC as his profile picture.

DJ Steve Aoki is an NFT enthusiast and added his eighth Bored Ape in January 2022. He also holds some Mutant Apes as well.

Notable figures in the music industry, including The Chainsmokers, Future, Post Malone, DJ Khaled, Rich the Kid, Marshmello, Mike Shinoda from Linkin Park, and many others also own and have shared their BAYC.

Universal Music Group has formed a band called Kingship, featuring four different Bored Apes, that will perform in the metaverse.

BAYC also partner with Rolling Stone Magazine and was featured on the cover. They've also collaborated with Arizona Iced Ted and Addidas.

And there's no slowing down for the BAYC. In 2022 and beyond, we'll see a lot more happening with this fast-growing brand.

Where Is BAYC Going in the Future?

After selling out of their BAYC NFTs in the spring of 2021, the team hasn't slowed down. They've since launched three additional NFT collections.

The first was Mutant Ape Yacht Club. The idea behind this project was to mutate the original apes into psychedelic creatures, modeled after the originals.

BAYC holders are able to "mutate" their current BAYC using another token called Mutant Serum. By combining these two, a new NFT from the MAYC is minted, and your original Bored Ape stays intact.

Bored Ape Kennel Club is the third project in the BAYC family. The idea was to bring a four-legged friend to each Ape in the swamp. All BAYC were allowed to mint a free BAKC NFT, as long as they paid their own gas fees.

There was no public sale, so the only BAKC NFTs in circulation came from BAYC holders. All royalties from secondary sales are donated to animal shelters.

BAYC has also announced a partnership to develop its own play-to-earn game.

We can expect BAYC to develop more prominent partnerships in the media industry, to help build a buzz for BAYC as well as the NFT space at large.

We can also expect the BAYC team to continue developing new projects, both for existing holders and for the general public to get in on as well.

Alternative NTF Collection to Consider

If you were in the loop in early 2021, you could've picked up a BAYC NFT for a few hundred dollars. But nobody anticipated the growth that the project would experience.

During the NFT gold rush over the summer of 2021, a handful of projects saw massive price increases. While it's great for holders, it's not so great for those interested in buying in.

If you can't quite afford BAYC, which most people can't, there are plenty of alternative collections to invest in.

Nobody knows which projects are going to become the next BAYC. But many other projects have huge communities, lots of price potential, excellent art, various utilities. Here are some NFTs to buy in 2022.

BAYC Derivatives

Derivative projects are those that are inspired by other projects but add their own unique twist. There are countless BAYC derivatives out there.

Some that show signs of promise include Superlative Apes, Apocalyptic Apes, Ape Kids Club, and Desperate Ape Wives.

Doodles

Doodles is already a well-established NFT project. But it was only launched in October 2021. In January 2022, the floor price hovered around 10 ETH ($33,000).

The art is colorful, simple, and wonderful. Those that own a Doodles NFT are almost guaranteed to use them as their profile picture online.

Alien Frens

10,000 adorable Alien Frens, divided into four species (colors). Holding an Alien Fren provides you access to exclusive merch, IRL events, invasions, comic books, games, and more.

CryptoMories

Life is short. That's what CryptoMories will remind you of. 10,000 skeletons that you will love holding onto. And they have one of the most active communities of holders, which is likely to drive the value up.

Should You Buy BAYC?

BAYC is a blue-chip investment. It has solidified itself as one of the reigning champions of the NFT space. The value will continue rising in 2022 and beyond, especially as more and more celebrities, professional athletes, and other notable figures scoop them up.

Owning a BAYC NFT is as much a status symbol as it is an investment. There are only 10,000 of them. And everyone wishes they had one.

They won't be going out of style any time soon.

So should you invest in one? If you have the money to comfortably make a purchase, it's a good decision. It's kind of like owning a house. Price action may fluctuate as the market goes through cycles.

But they will always be in demand, and their value isn't going to disappear. Rather, it could end up being a solid long-term investment as the NFT space grows to reach the masses.

However, if you don't quite have the funds, or have to liquidate other assets in order to buy one, think long and hard. Don't rush the decision. Don't risk money you can't afford to lose.

And if you decide to jump in, make sure to find the perfect one to purchase, as it becomes a reflection of you.  

BAYC Is Here to Stay

BAYC wasn't the first generative NFT project on the block, but it's one of the most important, and one of the most valuable. In less than a year, it has become an icon in pop culture and is still being purchased and shared prominently by regular people and celebrities alike.

You don't have to be a celebrity to benefit from one, but you may need to be one in order to afford one.

Looking for more tips on upcoming NFT projects? Head over to our blog now to find the latest NFT news.

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