The Bored Ape Yacht Club is an NFT brand that has stood out as one of the leading brands that have overcome the common pitfalls of poorly thought out brands and executed a token sale with endless potential.
In this article, we explore the Bored Ape NFT, what it is and how you can own one of these rare art pieces.
What is Bored Ape NFT?
The Bored Ape Yacht Club (BYC) is a collection of 10,000 unique Bored Apes — a set of special digital collectibles built on the Ethereum blockchain.
While you’ll need to be a little bit “bored” to possess one — they’re super extra rare— each BYC NFT comes pre-loaded with some sweet, sweet premium content. You certainly won’t go wrong if you own one, but do not risk more than you can afford to lose.
How much is a Bored Ape NFT worth?
The value of a particular Board Ape NFT is based on a variety of factors, including rarity, demand, and creativity.
Since its launch last April at $200 (0.08 ether) each Bored Ape’s price has skyrocketed: The cheapest you’ll find a Bored Ape NFT on OpenSea, the biggest marketplace is $420,000 —145 Ethereum.
This might not be the highest it could go, especially with the team working on metaverse, the price could go through the roof in the near future as more institutions join the NFT race.
What can you do with a Bored Ape NFT?
There are a lot of different things that can be done with a bored ape NFT. Some of the most popular uses for them include:
You can use it to represent your online persona, as a virtual pet, or as a game piece. You can also trade it or sell it on a decentralized marketplace.
Who has a Bored Ape NFT?
There are a lot of big celebrities who own bored apes, most of these big artists use their bored Apes as their Twitter profile pictures: Here is a compilation of a few of them.
- Eminem Neyman Jr.
- Jimmy Fallon
- Paris Hilton and Justin Bieber
How do I buy Bored Ape NFT?
If you’re looking to purchase unique and rare NFTs, Opensea is a great place to start. It’s also the easiest way to purchase Bored Ape NFTs.
To buy tokens from Bored Ape NFT, you’ll need a wallet that supports ERC-721 tokens. We recommend using MyEtherWallet or Metamask.
Once you have a compatible wallet, you can head over to Opensea. We have written an article on how to Mint, Buy and sell NFTs on Opensea, kindly go through the look it up.
What is the cheapest Bored Ape NFT?
If you are interested in purchasing Bored Ape NFTs but have not got $ 400,000, here is a list of some of the cheapest Bored Ape NFTs that you can get your hands on. Value: (99.99 ETH – 103 ETH)
- Bored Ape #2260
- Bored Ape #6498
- Bored Ape #1488
- Bored Ape #533
- Bored Ape #3311
Are Bored Apes a good investment?
If you have a few thousand dollars to spare, I would suggest you look into non-fungible tokens (NFTs), more specifically those which interested in RarePepe trading.
Bored Apes are some of the most sought-after NFTs in the space and could make you a lot of money, but they are still a fairly speculative investment.
They have limited use cases, and the price could crash at any moment. Thus, you have to beware when buying don’t risk more than you can afford to lose.
Why is Bored Ape NFT so expensive?
If you’re surprised at how expensive Bored Ape NFT is, you’re not alone. I’ve read several comments from people saying that they are shocked with how high the price of NFT art has climbed. It’s hard for me to justify why the NFT art is the cost so much.
To be honest, it’s due to these two key elements: supply and demand. The Bored Ape brand doesn’t have a huge supply of 10,000. Plus the NFT space has a massive interest.
The Bored Ape Yacht Club is far different than any other NFT brand out there right now due to the fact that the token offers a physical deliverable and almost guarantees liquidity.
The properties of this token give it an inherent scarcity and ridiculous intrinsic value due to the level of work and dedication that will be put into the physical Yacht Club.
Bored Ape Price: Opensea