Bored Apes Yacht Club (BAYC) is a collection of 10,000 unique non-fungible tokens - digital collectibles that reside on the Ethereum blockchain. A BAYC NFT also acts as a membership card for the virtual "Yacht Club", granting access to exclusive benefits.
Each NFT has a unique identification address that is stored in the owner's wallet. Based on this address, users can prove that they are the sole owners of a particular NFT. Extraordinary to the Bored Ape Yacht Club, however, is the community that has formed around the collection. The yacht club has already organized meetings in New York, the UK and even Hong Kong.
BAYC as a personal brand
The BAYC NFT license allows owners to exercise full rights to market and license their monkeys. This transfer of rights is now standard practice for generative NFT projects, but was not common when they were created in April 2021.
Yuga Labs, the company behind BAYC, is working with prominent figures in the industry. Among them are not only the founder of the Bored Ape Yacht Club but also NFT comics Punks Comic from Pixel Vault and crypto investor and NFT collector Gmoney. The company has also already released NFTs for their own metaverse (Otherside). So-called Otherdeed are key to claiming land in the Otherside metaverse. Each NFT has a unique mix of environment and sediment - some have resources, others house powerful artifacts, and an alien ("Koda") roams on a few.
