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NFT monkey: Understanding the Bored Ape Yacht Club collection (Bayc)
The term monkey NFT mainly designates digital works of the Bored Ape Yacht Club (or Bayc ), a collection of NFT which has become emblematic in the ecosystem of non -fungible tokens . This collection, launched in 2021 by Yuga Labs , marked the NFT market with monkey head and has drawn the attention of celebrities, collectors and investors around the world.
Table of contents
What is a NFT monkey and the Bored Ape Yacht Club?
An NFT monkey refers to an NFT Bored Ape from the Bored Ape Yacht Club collection . An NFT (non -fungible ) is a unique digital asset, written on the blockchain , which guarantees its authenticity and its history of property. Unlike a classic image, an NFT monkey is a token whose rarity and property are publicly verifiable.
The Bored Ape Yacht Club is a collection of 10,000 works representing algorithmic monkeys These monkey heads have become symbols of status in the Crypto community and offer their holders exclusive advantages, such as access to private events (e.g. APE Fest ), closed online groups and marketing rights.
History and birth of the Bored Ape Yacht Club
The Bored Ape Yacht Club collection was launched in April 2021 by Yuga Labs , founded by four friends using the pseudonyms Gordon Goner , Gargamel , No Sass and Emperor Tomato Ketchup. Their goal was to create an NFT project , both artistic and community. The launch was an immediate success: the 10,000 NFTs were sold in less than 12 hours for 0.08 ETH each, or about 200 dollars at the time.
The Bower quickly stood out thanks to its universe, its storytelling and the integration of its members into an ecosystem . Access to virtual spaces, such as "The Bathroom", and the possibility for holders of Bored Ape S to market their monkey reinforced the appeal of the NFT collection .
Why has this collection exploded?
The success of the Bored Ape Yacht Club is explained by several factors:
- Unique works representing recognizable style monkeys
- A rarity effect, each NFT BAYC being unique
- Exclusive benefits for Bored Ape holders (events, commercial rights, access to private groups)
- The craze of celebrities like Eminem , Snoop Dogg , Justin Bieber , Neymar or Jimmy Fallon
- A strong presence on social networks and in Crypto
- Collaborations and extensions such as the mutant Ape Yacht Club , Otherside ( Metavers ), and the launch of the Token ApeCoin
Evolution of prices and sales records
When it started, an NFT bored ape cost 0.08 ETH (around 200 dollars). Quickly, demand exploded, propeling the floor price (minimum price to buy a Bored Ape ) at summits. In September 2021 , during a sale organized by the Sotheby’s auction , a batch of 101 NFT BAYC sold for 24.4 million dollars . Some Bored Ape have reached record prices, such as the Bored Ape #8817 sold for $ 3.4 million (819 ETH ), or even 100,000 dollars sales per unit.
The floor price culminated at 152 ETH (around $ 429,000) in April 2022 . In 2023 and 2024 NFTS market experienced a strong correction, with a floor price falling to 27.4 ETH (around 53,000 dollars) then up to 10.9 ETH (34,000 dollars), a drop of more than 88 % compared to the summit. Despite this volatility, the value of the NFT Bored Ape Yacht Club remains high compared to the majority of other NFTs .
Where to buy an NFT monkey?
To buy an NFT monkey from the Bored Ape collection , you have to go through a platform specializing in non -fungible tokens :
- Opensea : the best known marketplace for NFT Bayc
- Binance : also offers the purchase and sale of NFT bored ape Yacht Club
- Blur : an emerging platform appreciated by collectors
Payment is generally made in ETH ( Ethereum ), the cryptocurrency of Ethereum blockchain . Buyers must have a compatible portfolio (ex: metamask) and cryptocurrencies available to finalize the purchase.
How to buy and sell an NFT BAYC?
Steps to buy a monkey head NFT
- crypto wallet compatible with Ethereum blockchain (Metamask, Ledger , etc.)
- Buy ethn on a platform like Binance or via a Crypto
- Transfer your ETH to your wallet
- Connect your portfolio to Opensea or another NFT marketplace
- Look for the Bored Ape Yacht Club collection and select the desired NFT Singe
- Validate the purchase by paying the displayed price (or by participating in an auction if the seller offers one)
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Sell a NFT Bored Ape
- Connect your wallet to the marketplace
- Select NFT BAYC for sale
- Attach a price or launch an auction
- Confirm the transaction on the blockchain
- The buyer pays in ETH and the NFT is automatically transferred
Storage and safety of NFT Bored Ape
An NFT Bored Ape Yacht Club must be stored in a crypto portfolio which keeps the private key guaranteeing the property on the blockchain.
Among the solutions, offline wallets compatible with NFTS, such as Ledger , offer optimal security by ishing your private web keys, considerably reduces the risk of hacking or flight. Using a material portfolio is therefore strongly advised to protect your NFT Bays, as several holders have already lost their assets due to fraud or online attacks. Ledger models , we invite you to read our Ledger models .
NFT Bays and the Bored Ape ecosystem
The holders of a Bored Ape benefit from many advantages:
- Access to physical and virtual events ( APE Fest , private evenings, etc.)
- Commercial rights on their NFT monkey (creation of derivative products, use in works, etc.)
- Participation in the Bored Ape ecosystem via the ApeCoin token , used for transactions and governance
- Priority access to new projects such as Otherside , the metarers developed by Yuga Labs
In March 2022 , Yuga Labs announced the repurchase of cryptopunks and the launch of Otherside Metavenvers universe where NFT Bays are integrated as avatars or collectibles. The ecosystem has enriched with the mutant Ape Yacht Club and new tokens to reward holders .
Celebrities and the Boy collection
The popularity of the Bored Ape Yacht Club has been boosted by the purchase of NFT Singe by many celebrities :
- Eminem and Snoop used their NFT in clips or artistic works
- Justin Bieber , Neymar , Jimmy Fallon , Paris Hilton are among the holders
- Some Bored Ape S Sold for more than a million dollars , strengthening the premium image of the Bored Ape collection
Why buy an NFT monkey?
The NFT bored ape Yacht Club are wanted for:
- Their collection value and rarity
- Access to an exclusive ecosystem
- Their resale potential at high prices
- Their role in the metavers and virtual universes
- Social prestige associated with the possession of an NFT to a monkey head
For those who seek to invest in the best known NFTs, the Boy remains a reference, although the value of the NFT is very volatile.
Conclusion
The NFT monkey of the Bored Ape Yacht Club is much more than a simple digital image: it is a non -fungible token inscribed on the Ethereum blockchain , at the heart of a ecosystem . Since 2021 , Yuga Labs has been able to transform this NFT collection into a cultural and financial phenomenon, attracting celebrity , collector and investors.
To buy, sell or store an NFT bored ape , you have to understand the specifics of blockchain , marketplaces like Opensea or Binance , and the importance of digital security.
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Noah
Training engineer, I quickly became interested in the field of finance. Convinced that decentralized finance has a bright future ahead of it, I participate in its democratization by developing Crypternon.
