Why Bored Ape Yacht Club Is Worth Billions | BAYC
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In this video we'll try to answer the following questions:
What is Bored Ape Yacht Club?
What is the price of Bored Ape Yacht Club NFTs?
How to buy NFT Bored Ape Yacht Club?
How Much is a Bored Ape Yacht Club?
What is BAYC?
Why did BAYC become famous?
Which celebrities have BAYC?
What is best NFT?
What are the best NFTs?
What’s Cryptopunks?
What will be the future of Cryptopunks?
Which NFT should I buy?
What’s best NFT for investment?
What’s Axie Infinity?
What is NFT?
What is the meaning of NFT?
What is an NFT token?
What is a proverbial token?
What is an irreplaceable token?
What is the difference between proxy tokens and other tokens?
Why has market interest in NFT tokens increased?
What are the reasons for the growth of NFT tokens?
What are the reasons for the increase in the price of unparalleled tokens?
What is the future of NFT tokens?
What are the best NFT projects?
What are the best NFT projects in 2022?
Which NFT project is the best?
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Bored Ape Yacht Club (BAYC) is an NFT collection of 10,000 distinct apes created by a group of 4 pseudonymous founders. At first, there were two founders known by their Web3 names: Gordon Goner and Gargamel. Interestingly, the pair chose to remain anonymous until a Buzzfeed article published in February 2022 revealed their real identities as Greg Solano and Wylie Aronow. So, Solano and Aronow came up with the idea of wealthy apes living in a swamp clubhouse, recruited a freelance illustrator to draw the apes, and teamed up with two engineers as co-founders to put the collection together. The pseudonym names of these other two co-founders are Emperor Tomato Ketchup and No Sass, whose identities still remain unknown.
Solano and Aronow then founded the Yuga Labs, a blockchain technology firm that creates digital collectibles and NFTs and specializes in the fields of digital media, blockchain, and cryptocurrency. It was Yuga Labs that eventually launched the Bored Ape Yacht Club, whose cheapest ape JPEGs are now worth at least $200K.
So, the question is, how does a JPEG of an ape wind up being valued the same as a house. Well, the answer is that it’s not much about owning the picture itself but what it means to be a BAYC owner. The ownership and commercial usage rights of the NFT are offered to you as a Bored Ape owner. You get exclusive access to BAYC parties, exclusive minting rights to future NFT drops, and access to the bathroom, where you can scribble or write swear words. Every 15 minutes, each ape holder will be allowed to paint a pixel on the bathroom wall.
Additional benefits were supplied through roadmap activations, and all of these unique features were accompanied by a community eager to buy them when they were released. The apes used to sell for around $300, but now the cheapest ones are worth at least $200K, with the most expensive purchase ever being on September 29, 2021, when a single ape was sold for 769 Ethereum, or roughly $3 million.

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