Over the past two years, the NFT industry has reached enormous proportions. Hundreds of thousands of dollars for one token no longer seem to be something unfeasible. The trading volume of well-known collections on various platforms has already reached more than a hundred million dollars, and the most expensive collections – more than two billion.
Today we will consider one of the most expensive and famous collections – nft monkeys on the Ethereum blockchain. Bored Ape Yacht Club, released with 10,000 images and 172 rarity attributes (the lower the value, the higher the rarity and, as a result, the cost). This number of attributes enabled generating tokens with unique characteristics for each image.
Examples of rare attributes in the BAYC collection are gold wool, an earring in the form of a cross, blue rays from the eyes and many other outlandish elements. You can study the rarity of the attributes of this collection on a particular site.
A Bit Of History
Yuga Labs, founded in 2021, developed the collection. A group of four friends have developed a collection of ” bored ” monkeys. As the creators claimed, the project was not serious; in which they wanted to test their development abilities and do something remarkable. Yuga Labs was inspired by the slang of Twitter crypto enthusiasts – “bored monkey billionaires”. According to legend, in 2031, cryptocurrencies completely took over the world. Everyone who has become a “monkey billionaire” who does not need money is tired and wants to relax in the company of like-minded people.
The collection launch took place in April 2021 at the Opensea site. The sales ended in a soldout in 12 hours. All 10,000 bored monkey NFTs were sold for 0.08 ETH each, equivalent to $190 at the time. As a result, the Bored Ape Yacht Club NFT collection has gained immense popularity outside the crypto industry.
BAYC These Days
Over the past year, the “tired monkeys” project has managed to grow into a whole metaverse with many branches. The considerable popularity is fueled by the list of celebrities who own the tokens of this collection: Eminem, Marshmello, Lil Baby, Post Malone, Snoop Dogg and others. Plus, it’s worth mentioning that some celebrities put their NFTs on social media avatars.
Snoop Dogg with an avatar from his token collection.
Today, Bored Ape Yacht Club has a minimum price of 81.8 ETH ($140k) with a cap of up to 7000 ETH (~$12m).
The offer with the highest price
Offer with the lowest price
Of course, not without the human factor. Once a token was sold for 0.75 ETH, the owner planned to sell his token for 75 ETH. The token was indeed purchased immediately. Sometimes the cost of a simple mistake is hundreds of thousands of dollars.
Stimulants
Like any other famous project, BAYC has followers who want to capitalise on its popularity. One example is the FBAYC (Fake Bored Ape Yacht Club) collection. Site 1 in 1 repeats the original, the difference in cost and the pretext “fake” in the description. The site offers to purchase a token for only 5 ETH.
Despite the significant number of fake collections, the administration of marketplaces regularly monitors and regulates this issue.
FBAYC home page
Of course, the “tired monkeys” community will only develop and become more popular. Combining factors such as solid audience engagement, celebrity endorsements and unique offerings for holders ensures future growth and interest from the masses.
