Bored Ape Yacht Club NFTs Explained

NFTs have been around for five years, but the nonfungible token boom only truly began in 2021. It coincided almost perfectly with the launch of Bored Ape Yacht Club, a collection of 10,000 cartoon ape NFTs that’s come to embody the whole industry. BAYC has over the past year become a bellwether for NFTs, just like bitcoin is for the crypto market at large.

When NFTs were at their hottest, in April, the entry price for Bored Ape Yacht Club NFTs was $400,000. Following the crypto crash, caused by the Federal Reserve’s hiking of inflation rates to tackle inflation, that’s fallen closer to $150,000. Far from the all-time-high, but insane considering these NFTs sold for about $200 apiece last April.

You’ve probably seen a BAYC, even if you didn’t realize you were looking at one.

Bored Ape owners currently using their NFT as a Twiter profile picture include Timbaland (1.6 million followers), Eminem (22.6 million followers) and footballer Neyman Jr. (55 million followers). Jimmy Fallon and Paris Hilton are also BAYC holders, discussing their Apes in a (cringey) Tonight Show segment. Justin Bieber made headlines with his purchase of a $1.29 million Bored Ape Yacht Club NFT in February.

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Great explanation! Keep it up fam

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Wow this is enlightening thanks for the piece

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Nicely explain . Great work

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Love being this way… Keep it up my friend. Fam

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BoredApe is one of the nft I like most honestly

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You explained this nicely,well done

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Did I just see 150k USD?

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NFT now is among crypto currency project which has change alot of people life and that what we want from this project

It is well explained nice

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It is well explained and a very nice project

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Thanks for this, I wish to know more about this NFTs

i like this, good explanation

Very good project :rocket: let’s go to the moon #apenft

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Wow this is enlightening thanks for the piece of advice​:ok_hand::ok_hand::100::100::100::100:

good explanation!!! :+1: