Content and Communication
The creators invested $40,000 and enlisted the help of two blockchain coders to construct 10,000 apes with distinct expressions and streetwear-inspired accessories. They also emphasized the advantages of having an ape by debuting with a clear roadmap. With customer interests stirred, founders maintained customer relationships by fostering direct communication and providing detailed updates. Soon enough, #ApeFollowApe hashtag, as well as others like this, began to trend, increasing the popularity of the collection.
Co-Creation
Enabling holders to take a creative approach to their apes, a message from the founder said: Holders today use their apes for anything they desire, such as comic strips, animation, and so on. This increased the spread and visibility of the Bored Apes collection, making it very desirable and one of the most popular NFTs.
Enabling holders to take a creative approach to their apes, a message from the founder said: “Anything that people create with their apes only grows the brand.”Holders today use their apes for anything they desire, such as comic strips, animation, etc. Therefore, this increased the spread and visibility of the Bored Apes collection, making it very desirable and one of the most popular NFTs.
Why are Bored Ape NFTs so expensive?
There are a good number of reasons for the high status of the Bored Apes. Some of them include:
Utility
The BAYC team created the Bored Ape Kennel Club in June 2021. Owners of Bored Ape NFTs were offered the chance to "adopt" a club dog NFT from the Bored Ape Kennel Club for one week only. The Kennel NFTs were never made available for purchase at the time, and the only way to get one was to own a Bored Ape NFT. However, the collection fetched $24,393,000 in sales and the club today has 5,419 unique owners and an NFT total supply of 9,602.
Closely following this in August, the team announced the Mutant Ape Yacht Club, a new collection of 20,000 Mutant Apes. The drop occurred on August 20th and 10,000 NFTs in this collection were preserved for Bored Ape owners. Mutant apes were either made when Bored Ape owners exposed a Bored Ape NFT to a special Mutant Serum (M1, M2, or M3) or by non-members minting them directly. The M3 serum creates the most sophisticated mutant Apes. Both BAYC projects have been very successful and have contributed to making Bored Apes so popular.
Uniqueness
From the beginning, the project had a well-defined roadmap. The Bored Apes' familiar characteristics made them ideal for online avatars, and the project evolved to be the largest Profile Picture (PFP) project. This is because the project plays into flex culture– due to their high price, limited quantity, and unique privileges, they are regarded as symbols of status as owning one lets owners flaunt their money and social standing. Some features of the 10,000 rare ape collectibles, like golden fur and laser eyes, are so uncommon that only around 1% of all Apes have them. As a result, the price of these Apes rises.
Membership Benefits
A membership to the yacht club is an added benefit included with owning a Bored Ape. This membership puts you in the same club as superstars such as Jimmy Fallon, Post Malone, Mark Cuban, and Shaquille O'Neal. Holders of an ape NFT can attend the community activities as a member and also get access to a secret Discord server and an exclusive digital space dubbed "The Bathroom." NFTs owned by bored apes can also be used commercially. This implies they may sell not only the NFT at a greater price but also any spinoff goods based on the NFT they control. Members' interactions aren't always limited to the internet. They had a party aboard a real yacht off the coast of Manhattan in November 2021.
Future of the Bored Apes NFT Collection
The BAYC is known for discovering new projects to excite and engage holders. Most of the projects on its roadmap have been completed; however, a new form of engagement that emerged on the blockchain is moneymaking via play-to-earn (P2E) opportunities. To build a play-to-earn blockchain-based game, the Bored Ape Yacht Club has linked up with Animoca Brands, one of the top corporations in the field of P2E.
Conclusion
The blockchain is one with a plethora of opportunities constantly being unearthed. This is also true about NFTs as day by day, new ways to optimize utility are discovered and attributed to these digital tokens. Many investors and brands are looking for high-end NFT collections like Bored Apes, which is why it might be a good idea for it to be at the intersection of blockchain opportunities and NFT utility possibilities in the next few years.
