What is Bored Ape Yacht Club(BAYC) and How it Works?

 The Bored Ape Yacht Club (BAYC for short) is a collection of 10,000 unique cartoon apes created using generative art, presented via an ERC-721 NFT on the Ethereum blockchain. The club was originally minted by the pseudonymous founders Gargamel, Gordon Goner, Emperor Tomato Ketchup and No Sass, and is owned by Yuga Labs.

It is a pity that the Bored Ape was sold out quickly after it was cast, and users can only buy the Bored ape from OpenSea, Rarible or other secondary markets.

To buy Bored Ape, first make sure you have enough ETH in your wallet to pay for the NFT itself and gas fees. On March 18, 2022, purchasing a Bored Ape NFT requires paying at least 60 ETH with a compatible crypto wallet such as Metamask or Trust Wallet.

Each Bored Ape NFT essentially has a unique digital identity that can be encrypted, tracked, traded, and secured . Bored Ape NFTs not only represent verifiable digital ownership, they can also be used as "Yacht Club" membership cards with exclusive access to and participation in certain Ethereum dApps and offline BAYC events.

The member-exclusive benefit "BAYC Bathroom" provides a digital sandbox for Bored Ape NFT holders, where holders can draw a pixel on a virtual graffiti board within every fifteen minutes. Bathroom offers more than just a community doodle board, in addition to other events hosted by Yuga Labs and the creators of the BAYC community, Bathroom maintains the interest of holders in BAYC to a certain extent.

Since its release, in view of the popularity of BAYC, Yuga Labs has launched a new NFT product line, NFT upgrades, digital graffiti boards and an exclusive club for Bored Ape NFT holders. The BAYC community has grown from a relatively obscure thing to a pop culture phenomenon, with numerous holders including pop stars Justin Bieber and Paris Hilton, NBA stars Mark Cuban and Stephen Curry, DJ Stein Husband Aoki, rappers Eminem and Snoop Dogg, and YouTube's Logan Paul.

Features and Rarity of Bored Ape

Bored Apes are cast through generative art, that is, their features are generated by a verifiable random function mechanism that provides several feature variations, and thousands of different rarity can be generated according to the set feature parameters.

A Bored Ape can have one or several rare traits, which are scaled by a rarity score, with higher scores leading to higher prices, with the rarest Bored Apes selling for thousands of ETH on the secondary market.

The seven categorical random combinations of Bored Ape features are as follows: background, clothing, fur, eyes, mouth, hat, earrings.

As mentioned before, each feature will come in a variety of styles, such as fur in robotic, psychedelic, or zombie styles, and backgrounds in gray, navy blue, etc. Eye styles such as laser eyes, coin eyes, or sunglasses are very Rare.

Bored Ape Chemistry Club and Mutant Ape Yacht Club

The Bored Ape Chemistry Club (BACC for short) has collected 10,000 serums, divided into three types: M1, M2 and "Mega Mutant" (only 8 out of 10,000), these serums are directly airdropped to BAYC holders. in the owner's Ethereum wallet. Unlike other Bored Ape Club NFTs, the BACC Serum NFT is more of a hybrid token specially designed to execute Ethereum smart contracts. As of March 18, 2022, about 80% of the serum has been used/destroyed in the mutation process.

The use of mutant serum results in a unique new mutant ape (Mutant Ape) NFT, although the serum NFT as a "cost" is destroyed when the new mutant ape NFT is minted, the mutation does not destroy, degrade or otherwise The way affects the original Bored Ape NFT, and the original Bored Ape will remain in its original state.

Using the first two M1 and M2 mutant sera, it is possible to produce mutant apes that still retain the original ape characteristics, while the bored ape using the Mega Mutant serum will have rarer characteristics after mutation, so this serum is more rare, in secondary The market price is higher. The terrifying mutant ape combines cuteness and horror on the premise of retaining the original charm, which is even more eye-catching, as shown in the figure below.

The Mutant Ape Yacht Club (MAYC) brings together 20,000 mutant apes related to the original BAYC. Among them, 10,000 were sold during the public auction in the Netherlands, and the remaining 8,000 Bored Apes have also been mutated through the airdropped serum, and the other 2,000 Bored Apes have not yet been mutated with serum.

Bored Ape Kennel Club

The Bored Ape Kennel Club (BAKC for short) is another NFT series minted by generative art. BAKC also comes from Yuga Labs. They distribute puppies to Bored Ape NFT holders. As long as you have a Bored Ape in your Ethereum wallet, you can use this to mint a Kennel Club Puppy NFT. These puppy NFTs are Shiba Inu puppies that also have the random characteristics described above, differentiated by appearance and rarity scores.

Bored Ape NFT holders can mint BAKC puppies for free, but it does not include the gas fee required to sign the NFT minting smart contract. These puppies NFTs will be charged a 2.5% license fee within the specified time, and the proceeds will be donated to various animals Charity.

Community Benefits and Events

As mentioned earlier, the popularity of Yuga Labs relies on NFT utility, airdrop benefits and community activity. For example, the inaugural BAYC Ape Fest was held to much fanfare as early as 2021, and Ape Fest 2022 will also be held for four days in downtown Manhattan, New York, from June 20-23.

BAYC also has a creative product: AYC mobile game "Mutants vs. Apes", in which Ape NFT holders will have a chance to win BAYC-themed prizes. Unsurprisingly, the prizes will include Bored Ape and Mutant Ape peripherals. Such as mutant ape beer mug, BAYC pinball machine and so on.

To participate in the game, Ape NFT holders must first visit the BAYC website and connect an Ethereum wallet to verify their ownership. After obtaining the game's special password, participants need to click to enter the Shopify storefront and fill in their personal details to register, after which the NFT holder will receive a personal link to download and enter the game.

BAYC has successfully capitalized on the popular trend of NFT collectibles and combined it with clever marketing to create a new business model. Continuously attracting global attention through member rewards, airdrop benefits, exclusive channels, offline activities and charitable donations, it has also led to wider adoption of NFTs.

BAYC has clearly positioned itself as a premium NFT brand, and despite all the controversy surrounding NFTs, we have every reason to believe that as industries discover the benefits of NFTs and verifiable exclusive digital ownership for business operations, NFTs will surely become a reality. Accelerated development.