Bored Ape Yacht Club NFT Collection: An Essential Guide
Written by stella@footprint.network
Data Source: Bored Ape Yacht Club NFT Collection Dashboard
The Bored Ape Yacht Club is an exclusive collection of 10,000 unique Bored Ape NFTs on the Ethereum blockchain. Will this NFT project rise in 2024?
About Bored Ape Yacht Club
The Bored Ape Yacht Club (BAYC) stands as a prominent NFT collection comprising 10,000 distinct Bored Ape NFTs, each residing on the Ethereum blockchain as a unique digital asset. Ownership of a Bored Ape extends beyond mere possession; it confers membership to an exclusive club, unlocking a suite of members-only benefits. The first and most notable of these benefits is access to THE BATHROOM, an interactive graffiti board where members can contribute creatively. The community-driven ethos of the club suggests that additional areas and advantages may be revealed as members hit certain milestones on the project’s roadmap.
Crafted by Yuga Labs, the Bored Ape Yacht Club has swiftly transcended its digital roots to become a cultural icon in the NFT space. Each Bored Ape doubles as a passport into the Yacht Club’s realm, where ownership is synonymous with privilege and prestige. The club’s offerings, starting with the collaborative space of THE BATHROOM, are just an initial taste of the exclusive experiences promised to its members. As one of the various NFT collections from Yuga Labs, BAYC has not only captured the attention of the crypto community but also that of the wider public, marking its place as a phenomenon within and beyond the digital landscape.
Who is behind Bored Ape Yacht Club
Yuga Labs, the creative force behind the Bored Ape Yacht Club (BAYC), has established itself as a pivotal entity in the NFT space with its innovative approach to digital collectibles. Launched in 2021, the company has crafted a collection of 10,000 unique ape-themed NFTs that are not only digital assets but also serve as a membership to an exclusive club, infusing ownership with tangible benefits like early access to new drops and potential commercial rights. Yuga Labs’ inspiration from CryptoPunks is evident, yet they have taken the concept further, creating a sense of community and exclusivity that has resonated deeply within the crypto industry, making them a household name.
The Bored Ape Yacht Club was just the beginning for Yuga Labs, which swiftly followed up with the Bored Ape Kennel Club (BAKC) and the Mutant Ape Yacht Club (MAYC), expanding their universe and rewarding BAYC holders. BAKC introduced 10,000 unique digital dogs, while MAYC offered a zombified variant of Bored Apes, both of which commanded high prices on secondary markets and attracted celebrity attention. With a staggering $127 million in net revenue in 2021, Yuga Labs has not rested on its laurels, acquiring other major NFT projects and announcing new ventures like the Otherside metaverse. Despite its rapid growth and success, the company maintained a low profile until recently, but as Yuga Labs continues to be a major force in the expanding NFT ecosystem, the spotlight on its operations and plans has intensified.
Bored Ape Yacht Club NFT Collection Data
In the dynamic world of Web3, understanding non-fungible tokens NFTs can be like exploring a large, unknown sea. Data analytics is the tool that helps everyone involved — collectors, investors, and creators — find their way. It does this by looking closely at transaction records, ownership details, price movements, and how people interact with NFTs. This information helps people make smart choices, avoid risks, and spot new chances in the NFT market.
Having this kind of guide is crucial for staying on track in the ever-changing NFT landscape. It helps with making choices that keep up with the market, making sure no one is lost in the vast amount of NFT data.
- NFT Market Trend
The NFT market is a dynamic ecosystem, and data metrics serve as a barometer for its changing conditions. Key indicators such as market capitalization, trading volumes, floor prices, and active engagement across marketplaces provide a vivid picture of the sector’s health and growth potential.
Investors who tap into these market trends can anticipate the direction of the tides, manage investment risk and uncover hidden treasures of opportunity. The importance of this data is huge — it’s the foundation of smart investment plans and a defense against the ups and downs of the NFT market.
Footprint Analytics has observed a marked variability in the floor price and overall market capitalization of the Bored Ape Yacht Club NFT collection over the last six months.
- User Behavior
In the realm of NFTs, user behavior data such as total sales, total buyers and sellers, unique holders, and daily transactions provide a granular view of individual and collective actions. Metrics such as daily sales, volume, and the fluctuating numbers of holders, sellers, and buyers offer real-time insight into the pulse of the market.
Analyzing this user behavior data equips stakeholders with a deeper understanding of market sentiment and participant activity. Trends such as peak buying times, shifts in holder sentiment, and the emergence of buying or selling pressures can be identified. By leveraging this intelligence, investors and creators can refine their strategies, align them with the market demands and position themselves for success in the ever-changing NFT world.
According to recent data from Footprint Analytics as of January 20, 2024, the count of individual holders for the Bored Ape Yacht Club NFT collection has reached a steady state, with around 5,400 owners recorded. Presently, the proportion of the total supply relative to the number of holders stands at 1.83.
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