What makes Bored Ape Yacht Club so expensive?
Some basic economics here: because there are only 10,000 Bored Apes, the supply of the NFT art is pretty limited. Coupled with the massive interest in the brand, we have a high-demand/low-supply dynamic that inevitably drives prices up. To boot, some Bored Ape avatars within the same collection are rarer than others.Nov 29, 2022
What makes Bored Ape Yacht Club valuable?
Bored Ape Yacht Club, also known as BAYC, is a non-fungible token (NFT) collection of 10,000 cartoon-like apes. Rarity, utilities, and celebrity endorsement drive the high price of the BAYC collection.Oct 17, 2022
Why are Bored Apes so valuable?
Bored Ape art is not only valuable because it serves as a digital identity—but also because of the accompanying commercial usage rights. Not only can Bored Ape owners re-sell the NFT for a profit, but they can also sell spinoff products based on the art.Nov 29, 2022
What makes one Bored Ape worth more than another?
While each ape is unique, some have characteristics that raise the rarity and price. Some of the most sought-after characteristics are laser eyes, solid gold fur and a king's crown. There are far fewer NFTs with these traits than others. For example, out of the 10,000 NFTs in existence, only 46 boast solid gold fur.Oct 17, 2022
Is Bored Ape Yacht Club worth it?
Bored Ape art is not only valuable because it serves as a digital identity—but also because of the accompanying commercial usage rights. Not only can Bored Ape owners re-sell the NFT for a profit, but they can also sell spinoff products based on the art.Apr 6, 2022
Is Bored Ape Yacht Club a good investment?
Bored Ape Yacht Club definitely isn't a good investment, and it's also not even a realistic investment for most people.Jun 10, 2022
What is so special about Bored Ape Yacht Club?
Owners of Bored Apes are considered members of the BAYC and gain access to exclusive perks such as private online spaces, exclusive merch, and members-only live events.
How does Bored Ape club make money?
BAYC makes money in several ways, but its primary source of revenue comes from minting apes as NFTs as well as via royalties from secondary sales and other transactions. Yuga Labs, the studio behind BAYC, receives 2.5 percent of the secondary sale value.Jul 28, 2022
Does Bored Ape Yacht Club have royalties?
The founders note that when the Bored Ape Yacht Club launched in 2021 at a price around $220 worth of Ethereum apiece, Yuga set a 2.5% creator royalty on secondary sales because that's the amount that OpenSea charged for its own marketplace fee.Nov 8, 2022
What is the big deal about Bored Ape Yacht Club?
What makes Bored Ape Yacht Club unique? Bored Ape Yacht Club combines digital collectibles with a members-only online club. Each Bored Ape is a unique digital character generated using more than 170 possible traits, including the ape's clothing, expression, headwear, and more.Jun 10, 2022