BORED Ape Yacht Club launched its first collection of 10000 NFTs in April 2021, with each selling for just $200 (0.08 ether) each.
Now, the cheapest Bored Ape Yacht Club NFT you’ll find for sale on OpenSea is over $200,000 (88.9ETH).
The huge increase in price has led to the NFTs being used as status symbols, first in the crypto world and then among celebrities.
Bored Ape owners currently using their Bored Ape Yacht Club NFT as their Twitter profile picture include Eminem, Neymar Jr, Jimmy Fallon and Paris Hilton.
Bored Ape Yacht Club Roadmap
Yuga Labs, the BAYC creators, have expanded the ecosystem by adding a cryptocurrency, ApeCoin and are building a metaverse called Otherside.
BAYC has also collaborated with various brands such as Adidas and Gucci.
NFT BAYC sales are now over $1 billion since the collections launch last year and according to the team at Yuga Labs, 2022 is set to be a year full of developments and improvements to the project.
Here are some of the major moves Bored Ape Yacht Club is making in 2022.
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Otherside Metaverse
On April 30, Yuga Labs launched the Otherside metaverse, which they claimed was the biggest NFT mint in history.
The Otherside metaverse is a colorful and diverse landscape that features around 200,000 different plots of land. These are referred to as Otherdeeds, NFTs that are title deeds for the land. Through the sale of 55,000 land parcels, the company generated around $300 million in revenue on the day of the launch.
Through a partnership with Improbable, Yuga Labs and Otherdeeds are creating a game where the ‘impossible can happen.’
With the power of Improbable’s M2 technology, over 10,000+ players will be able to interact in a single place while also moving between metaverses.
Otherdeeds players will be able to break through various barriers to create new social and gameplay possibilities.
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ApeCoin
The rise of the APE token has caught the eye of the cryptoverse after launching on March 16, 2022.
According to the latest data from CoinMarketCap, there are currently $284.8 million APE tokens in circulation. ApeCoin is currently the 31st largest cryptocurrency by market cap in the world.
Contrary to popular belief, the creation of the BAYC NFT collection’s official token, namely, ApeCoin, was not done by Yuga Labs. It is unclear why Yuga Labs distanced itself from the project.
Developers can now create decentralized communities using the APE currency, an integral part of the Web 3 revolution. It tackles one of the most pressing issues surrounding the development of decentralized applications.
ApeCoin DAO
ApeCoin DAO, composed of all APE holders, was recently launched to gather and vote on proposals that oversee the organization’s operations. Notably, the organization is managed and carried out by the Ape Foundation.
BAYC’s New Play-to-Earn NFT Game
After launching ApeCoin, BAYC introduced a new play-to-earn game collaborating with nWayPlay. Players can earn tokens for playing and later cash out in the game.
The in-game currency will be ApeCoin.
A team from both Yuga Labs and Animoca is currently working on making it a reality and will release more details soon. Animoca Brands’ co-founder, Yat Siu, talked about the company’s upcoming game, which will feature Bored Ape Yacht Club. He said only a few icons can represent the NFTs’ surging culture and that the group holds a significant number of these.
A Yuga Labs said they’re excited to partner with Animoca Brands to expand the BAYC universe and provide the best possible experience for its users.
BAYC Restaurant
BAYC’s first restaurant opened its doors on April 9, 2022.
Just Bored and Hungry shows how users can turn NFTs into real-life ventures.
The restaurant, a pop-up concept, was created by Andy Nguyen, an entrepreneur from Orange County.
It will be open for 90 days and will be powered by the Beleaf Burgers, Trill Burgers, and Bun B.
Strategic Partnerships
Li Ning, a Chinese sports brand, is the first brand to feature the BAYC logo, while SUPERPLASTIC has also partnered with BAYC to create vinyl art toys based on the project.
One of the advantages of holding a BAYC is it allows you to create a brand associated with the NFT using its commercial license. This move is significant for many companies as it will enable them to expand their reach and establish themselves as a partner of the BAYC brand.
Some of the licensed artists and brands include DJ duo Escape Plan, Bored and Hungry, and Siempre Spirits.
ApeCoin Price Prediction 2022
Due to the complexity of the project’s structure, it’s hard to make reliable predictions about ApeCoin’s price.
You can read 24/7 Crypto’s ApeCoin price prediction HERE.