The Bored Ape Yacht Club is a collection of 10,000 unique Bored Ape NFTs— unique digital collectibles living on the Ethereum blockchain.

Let's start at the beginning. Bored Ape Yacht Club was launched in late April by a team of four pseudonymous developers, Gargamel, Gordon Goner, Emperor Tomato Ketchup and No Sass. It took 12 hours for all 10,000 to sell out at a price of 0.08 ether, or around $190.

The current floor price is 53 ETH . Check here .

What makes BAYC or any other NFT collection valuable is highly subjective. Broadly, it's a mix of three things. Influencer/celebrity involvement, community strength and utilities for members.

The first is obvious. When famous people own an NFT, it makes others want to own one too.

More than 20 renowned celebrities own BAYC NFT.

Check the list here .

Second, utility. Most NFT projects claim to offer a utility of some sort, be it access to play-to-earn games or the option to stake an NFT in exchange for an associated cryptocurrency.

Bored Ape Yacht Club has done a few things to keep owners interested. First, it created the Bored Ape Kennel Club, offering owners the opportunity to "adopt" a dog NFT with traits that mimic those of the Bored Apes. In August came another freebie: digital vials of mutant serum. Owners could mix their Bored Ape with the serum to create another NFT -- a Mutant Ape.

Last and most important is the community that's built around a collection. Bored Ape Yacht Club has organized meetups in New York and California and there have been Bored Ape get-togethers in Hong Kong and the UK, too. Most recently, a weekend of festivities for owners was held in New York, featuring an actual yacht party and a concert that featured appearances from Chris Rock, Aziz Ansari and The Strokes.

People waiting in line to buy Supreme merch

People waiting in line to buy BAYC merch

A web3 brand is simply a decentralized entity - whether its decentralized through with NFTs, a DAO, tokens or all of the above. A core principle behind web3 is that, the people that engage with the project the most should also be part owners. Web3 is public from day 1.

Compare that to the old model: a private company creates a product and markets and sells it. The people that purchase the brand are consumers. Only wealthy people, VC firms, private equity get a chance to own part of the company, until the company goes public.

So with Supreme, you'll always be a consumer, not an owner. With

@boredapeyc , you're part owner. You have an actual asset that (the NFT - wen token), that grows in value as the brand does - which you can sell anytime

As long as the Bored ape founders continue to grow the brand, and make it *the* NFT community to be in, the price for apes and mutants will keep going up. There's only so many apes, and everybody wants them. This is where being a web3 brand really shines

Every time an ape sells on the aftermarket,

@yugalabs is getting 2.5% royalties on every sale. Forever. As the brand grows in value, that 2.5% ends up being a larger dollar (read: ETH) amount So in may 2021, Yuga labs got 800 eth for selling out the original apes...

In the 7 months since, they've earned ~5115 ETH just from the royalties on after market sales - not including mutants. Growing a brand that gets percentage royalties brings in exponential returns, which allows you to grow faster.

And this is just the beginning…

More to come for the BAYC NFT hodlers.

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