What's Bored Ape Yacht Club? [ BAYC Explained Simply ]

What is Bored Ape Yacht Club?

Amidst the growing NFT craze taking the internet over by storm, you have probably come across the JPEG of a bored-looking ape as the Twitter avatar of certain celebrities. The name of the JPEG is also, not surprisingly, Bored Ape Yacht Club. The NFT collection, which up until April 2021 has sold NFTs for as low as 0.08 ETH (that’s $247 us dollars), reached total sales of 1 billion dollars in January 2022.

With the identities of the owners recently unveiled by Buzzfeed in a controversial report, NFTs from the collection have made it into the possession of many A-List celebrities. From the likes of Eminem to Steph Curry, countless celebrities have bought into the NFT hype and purchased JPEGs from Bored Ape Yacht Club for as high as over 2 million dollars.

How Did Bored Ape Yacht Club Become the Most Popular NFT Collection to Exist?

CoinMarketCap takes a deep dive into the most popular NFT collection to find out the rationale behind its fame.

0:00 - What Exactly Is the Bored Ape Yact “Club”?
3:57 - BAYC Founders Unveiled by BuzzFeed
6:10 - Special Benefits For Members of the BAYC Club
6:46 - Celebrity Endorsements
10:43 - Future Prospect for Bored Ape Yacht Club

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