Bored Ape Kennel Club is a secondary NFT collection of the Bored Ape Yacht Club by Yuga Labs. The collection was distributed free of charge to owners of Bored Ape NFTs who could "adopt" their dog as a reward for supporting the BYAC ecosystem. The dog NFTs were distributed in June 2022.
Bored Ape Kennel Club (BAKC) is a unique collection of 9,602 cartoon NFTs on the Ethereum blockchain, using the ERC-721 token standard. Nearly 400 Bored Ape owners didn't claim their BAKC. Therefore, the collection is lower than the total number of 10,000 BAYCs. The kennel dogs consist of various combinations of over 170 characteristics. These include colored fur, eye and mouth shapes, and fun accessories like glasses, hats, shoes, etc.
What makes the BAKC NFTs unique?
Following in the footsteps of the immensely famous Bored Ape Yacht Club (BAYC), BAKC introduces a new twist by presenting virtual dogs as valuable items on the blockchain. The dogs represent the companions and pets of the BAYC apes. Like the apes, these dogs are randomly generated from multiple traits of varying rarity. This, along with the connection to the prominent Yuga Labs, has led to high popularity and trading volume on the secondary market. Compared to other Yuga Labs NFTs, they have a lower cost of entry and allow access to the Bored Ape ecosystem such as their metaverse "Otherside".
At launch, a 2.5% royalty was added to secondary sales for the first six weeks. The proceeds were donated to dog-friendly charities and no-kill shelters. To date, the BACK NFTs are a sought-after NFT asset with a current floor price of approximately $3,000. These 9,602 unique NFTs are held by more than 5,000 owners with a market capitalization of nearly $25 million.
