NFTs have take 2021 by storm, selling for up to millions of dollars apiece for individual images.
CryptoPunks are the ‘original’ Ethereum NFTs, after being created in 2017 during the cryptocurrency bull run, but other project, such as
Bored Ape Yacht Club, have followed in their footsteps sparking an online frenzy.But what actually is Bored Ape Yacht Club and how do I buy a ‘Bored Ape’? Here’s everything you need to know.
What is Bored Ape Yacht Club?The Bored Ape Yacht Club is a collection of 10,000 NFTs on the Ethereum blockchain.
In terms of trading volume, the Bored Ape Yacht Club is the third-most-popular NFT collection behind CryptoPunks and Art Blocks Curated – at the time of publication – and they’ve only been around since April 2021.
Developed by Yuga Labs, the Bored Ape Yacht Club is seen as an exclusive society and owning one of the NFTs gives you access to that membership.
One benefit is it allows users to have access to an exclusive Discord server where other owners – including high profile celebrities like NBA Star Stephen Curry – chat.
NBA star Stephen Curry purchased has Bored Ape for $180,000 worth of Ethereum in August 2021.Other celebs to own one include fellow NBA stars Josh Hart and Tyrese Haliburton, as well as NFL players Dez Bryant and Von Miller.
Musicians such as The Chainsmokers also own Bored Apes.
Owning a Bored Ape NFT also gives you access to other NFT collections, which can then be resold for potentially huge amounts of cryptocurrency.
Yuga Labs first offered free Bored Ape Kennel Club dog NFTs to Bored Ape owners, and then later released free “mutant serum” NFTs which generated a Mutant Ape Yacht Club image.
As well as this Yuga Labs also released 10,000 new Mutant Apes that anyone could purchase for 3 ETH with the entire collection selling out within an hour in August 2021, generating $96 million.
How can I buy a Bored Ape?Bored Ape Yacht Club NFTs are available on secondary markets like OpenSea.
To purchase a Bored Ape Yacht Club, Bored Ape Kennel Club, or Mutant Ape Yacht Club NFT on OpenSea you just need to visit the project page for each collection.
Some will be listed for sale at a fixed price, while others will be listed for auction.
To purchase one you’ll need an Ethereum wallet, such as MetaMask, along with enough Ethereum to cover the purchase price and gas transaction fee.