OpenSea, the biggest NFT marketplace, has previously taken the action of freezing the listing of certain Apes if they are reported as stolen. Scarcity also means BAYC NFTs are highly illiquid. This drives BAYC’s non-fungible nature, which is the key to NFT valuations.

While it may share a feature, or several features, with other Apes, no two are identical. How Many Bored Ape NFTs Are There?Ĭreated via an algorithm, there will only ever be 10,000 Bored Ape NFTs in circulation.Īs noted above, each Ape is unique. What separates BAYC from the crowd is that it has become a cultural phenomenon.įor the NFT cognoscenti, owning a Bored Ape means more than just possessing a digital cartoon monkey-it’s a ticket granting the holder access to an exclusive membership club with perks like merchandise, parties and ApeCoins (APE), among other things. Other than rarity, there’s nothing ostensibly unique about the artworks themselves-they’re just pictures of monkeys, after all. 8135 include a dagger in its mouth, a “trippy captain’s hat,” and a silver stud earring. 8135 recently held the highest “custom rarity score.” Notable features for Bored Ape No. There are dedicated websites that score Apes for their rarity. In the BAYC community, “rarity” is a formal measure of the uniqueness of each Ape. It’s this combination of features-or the relative rarity of each combo-that may be the very thing that underpins the popularity of the Bored Apes. They all share a common look and feel, yet each Ape features a unique combination of facial expressions, accessories and outfits, so no two are the same. These digital artworks portray, well, bored simians. Each individual NFT is referred to as an Ape. The Bored Ape Yacht Club is an NFT collection created by Yuga Labs on the Ethereum (ETH) blockchain. So what’s the deal with these curiously named NFTs? Here’s a guide to all things Bored Apes, including a look at its history, meteoric rise, recent controversies and stratospheric pricing. In April 2022, entry-level prices reached nearly INR 33,546,300-that’s expensive art, making them fat targets for heists. While stealing blockchain art monkeys might seem somewhat abstract, it’s easier to understand given the titanic valuations behind the Bored Apes. Got phished and had four NFTs stolen,” Green tweeted in May. In recent months, there have even been stories of Bored Apes being stolen by hackers, including a bizarre phishing scheme involving the actor and producer Seth Green. BAYC’S current market capitalization is valued at around INR 7,500 cr, according to CoinGecko.

Please invest carefully, your capital is at riskīy most metrics, Bored Ape Yacht Club (BAYC) is the most successful NFT art collection.

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