A glimpse of what is Bored Ape, the hot topic of Twitter NFT netizens?

The project has grown from a project to a community and then evolved into a brand in a short period of time, and that’s what makes it different.

Bored Ape Yacht Club is on fire.

DappRadar shows that Bored Ape Yacht Club has climbed rapidly in the last 24 hours to become a popular collection of top streams and is ranked in the top 2.

What exactly is Bored Ape Yacht Club? Is it a flash in the pan? Oddly enough, a number of NFT netizens on Twitter are buzzing about the project, even comparing it to the top-streaming project Meebits, such as NFTBoxes.io co-founder pranksyNFT, who tweeted that he didn’t miss either project, while some tweeters have changed their avatars to monkeys of various shapes and sizes – -almost guessing that these people might have been CryptoPunks fans just a few days or months ago!

A glimpse of what is Bored Ape, the hot topic of Twitter NFT netizens?
A glimpse of what is Bored Ape, the hot topic of Twitter NFT netizens?

What exactly is The Bored Ape Yacht Club?

1, The Bored Ape Yacht Club (hereinafter referred to as BAYC) is a collection of 10,000 unique Bored Ape NFTs, a unique digital collection on the ethereum blockchain, where each Bored Ape is unique and programmatically generated by more than 170 possible traits that including expressions, headgear, costumes, etc., and some apes may be rarer in terms of features.

2, holding a Bored Ape can become a member of the club and enjoy the exclusive benefits of membership. The most elementary membership benefit known so far is to allow the holder to doodle at will in the corresponding canvas, which requires at least one full Bored Ape in the wallet, and the creators are pretty sure there will be some juvenile content in the positive graffiti world.

3, Bored Ape is the contract standard for ERC-721, which will be stored in Ether and hosted on IPFS.

The first point alone makes people think it is a two-dimensional imitation of Meebits. But if that’s all, it doesn’t explain the NFT’s rapid rise to fame, as there have been plenty of knock-offs in the market before, but not enough to cause such a stir.

Like Meebits, The Bored Ape Yacht Club followed a simple and brutal distribution principle, which allowed Bored Ape to be sold out quickly. The creator of the project labeled the distribution mechanism as a fair distribution and that the union curve was a BONDING CURVES ARE A PONZI as a way to show that he didn’t care for it. The cost per Bored Ape is 0.08 ETH with no price scale, meaning that the participation fee is fair to start with, but the creator keeps 30 monkeys for future incentives to members.

Note that the program is designed with a liquidity pool in the route, meaning that the program will eventually start to have a DeFi element as well.

With such a simple and brutal allocation, it is surprising that Bored Ape was snapped up, and if anyone wanted to buy it, they had to head to OpenSea to acquire it from the secondary market. OpenSea shows that Bored Ape is held by over 3,500 people, with 90-day trading volume of over 5,000 ETH, and occasionally you might come across some great offers of 0.5 ETH, but the market deals The average price is at 0.66ETH.

As all Bored Ape is currently sold out, the roadmap will be fully activated, in fact BAYC has also started to sell some cultural peripherals, such as T-shirts, hats, etc. These goods are put on eBay for sale, and someone has already bought the BAYC Red Hat at a price of $4800.

Unlike the two programmers who created Meebits, BAYC is behind four anonymous creators who did not announce their true identities, and it can be said that BAYC is dependent on the community to grow up.

Personally, The Bored Ape Yacht Club is NFT + Tide + Members Club + DeFi, where the “Tide” is the original Tide in the NFT world, which is very meaningful. The project has grown from a project to a community and then to a brand in a short period of time, and that is what makes it different.

A glimpse of what is Bored Ape, the hot topic of Twitter NFT netizens?

Posted by:CoinYuppie,Reprinted with attribution to:https://coinyuppie.com/a-glimpse-of-what-is-bored-ape-the-hot-topic-of-twitter-nft-netizens/
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