Metaverse

The Bored Ape Yacht Club Explained

Historically, NFTs date all the way back to when digital artist Kevin McCoy minted the first NFT art named Quantum in 2014 on the Namecoin blockchain. Since then, hundreds of thousands of NFTs have been minted on Ethereum and other blockchains. NFTs can be a piece of art, GIFs, animation, videos, photographs, music, journals, domain names, etc.NFTs went mainstream in 2021 and became a recognized niche in the decentralized space. This ushered in many investors as individual creators and companies started launching their NFT projects. One of such companies is Yuga Labs, a blockchain company specializing in NFTs that developed the notable Bored Ape Yacht Club – BAYC. What is the Bored Ape Yacht Club?The Bored Ape Yacht Club is a collection of 10,000 unique Bored Ape NFTs minted on the Ethereum blockchain. Each unique Bored Ape doubles as a membership card to the Yacht Club, making the club exclusive to Bored Apes’ holders. When the NFT collection was launched on April 29, 2021, the sales were initially sluggish until May 1, when a notable NFT trader, Pranksy, purchased many Apes. He then informed his followers on Twitter, and his tweets led to selling out within twelve hours, making it to be available for sales afterward on the marketplace where NFTs are publicly traded.All Apes are unique, but some are rarer than others based in their attributes. Each Bored Ape is algorithmically created from over 170 potential attributes, including expression and wearables like clothing and accessories. For example, the collection has various furs, clothing, jewelry, facial expression, and others. Only 115 Bored Apes have a cross earring, 49 have daggers in their mouth, and 108 have cybernetic eyes as part of their unique traits.Why are Bored Apes Worth So Much? The launch price for Bored Apes was pegged at a fair price of 0.08 ETH – about $190 at that time – so no Ape costed more than others, irrespective of their traits. Three months later, NFTs started gaining more ground, increasing their value. Then the crypto summer bull run emerged and the price of Bored Ape NFTs shot up by over 400% during August 2021. At the time of writing, the current market cap of BAYC is $1,088,809.041.22 with a 24 hour trading volume of $54,643,948.40 at a floor price of 66.9 ETH each, equivalent to $108,880.90.The floor price is not necessarily the general price for all Bored Apes; it can be regarded as the lowest price of Bored Apes on the open marketplace where they are listed for sales. Currently, the most expensive Bored Ape is listed at 99,999,999,999,999 ETH which is equivalent to $163,436,999,999,998,370. Some are listed at around 7,000 ETH, 5,000 ETH, 3,000 ETH, etc.A total of 6,454 unique owners currently hold the 10,000 NFTs in this collection.Who is Behind the Bored Ape Yacht Club?BAYC was created by Yuga Labs and co-founded by Wylie Aronow and Greg Solano. The duo was popularly known by their pseudonyms Gordon Goner and Gargamel. They later enlist Kerem aka No Sass, and Zeshan aka Emperor Tomato Ketchup, to form the BAYC in late April 2021. Kerem and Zeshan were software engineers, while Gordon Goner and Gargamel were both artists; Gargamel had a Master of Fine Art (MFA) and Gordon Goner dropped out of MFA for health reasons.Who Drew the Bored Apes?Unknown to many enthusiasts, the quartet of BAYC were not the designers behind BAYC; they only birthed the idea. An Asian-American artist Seneca, popularly known as All Seeing Seneca, drew the primary characters. Though she wasn’t familiar with NFTs, Yuga Labs accommodated her and gave her their concept to develop a character. Yuga Labs wanted “Punk Apes” but had no idea what it would look like. How BAYC Maintains Relevance The BAYC, ever since its launch, has kept its entire community engaged with captivating activities to keep the club alive, rather than boring those who aped (jumped) into their project. Below are the periodical new elements released to its ecosystem to engage members and keep an OG status.The BathroomThe bathroom is the first significant engagement with club members. It is a digital replica of a private physical planning board or whiteboard where members can freely write whatever comes to their minds on the wall. The concept behind this private bathroom is to create a shared digital canvas where club members can draw on it, so the bathroom is exclusive to members only. The Bored Ape Kennel Club – BAKCAnother intriguing engagement is the dog adoption concept, where each Ape can freely adopt a canine so they don’t feel bored and lonely in the swamp. The Kennel Club allows every Ape to adopt a dog from its club as a companion for free – excluding the gas fee. The offer ran for a week in June 2021, where members who signed up for this adoption got their respective distribution at the end of the adoption period.About 96% of Bored Ape holders adopted a dog companion, and the remaining 400 unadopted dogs were left to the swamp for extinction. Since then, these dog NFTs have also been listed on marketplaces since they are no more available in the Kennel club.There are 9,602 dogs’ NFTs with 5,550 owners and a floor price of 6.95 ETH –$11,501.83. At the time of writing, BAKC has a market cap of 66,733.9 ETH –$110,440,581.81– while the most expensive NFT in this club is listed at 5,000ETH –equivalent to $8,161,700– on OpenSea.The BAKC collection incorporates charity donations into NFTs, with the 2.5% royalty fee placed for six weeks after launch. Funds from the royalty fee were donated to animal charities like the Orangutan Outreach, as announced by the BAYC official Twitter handle in August 2021. The Mutant Ape Yacht Club – MAYCAnother captivating model for engaging the BAYC members that was introduced to the ecosystem is the Mutant serum airdrop. A snapshot of Bored Ape holders was taken on August 8, 2021, and each holder was airdropped with a Mutant serum vial. A collection of 10,000 Mutant Apes was already auctioned and sold out before the mutation began. The mutation was a way of showing gratitude to BAYC members who minted Mutant Apes for free with their serums. The serums airdropped were M1, M2, and M3, where the Bored Apes could only use each vial once.The M1 and M2 serums mutated Bored Apes into Mutant Apes with traces of the original Bored Ape traits. The M3 vial mutated the Bored Ape into an unrecognizable Mutant. Alongside the 10,000 previously minted Mutant Apes, this sums up the 20,000 collections of Mutant Ape NFTs, and the Mutant Ape Yacht Club was created therein.The MAYC members comprise the previous BAYC members and the holders or investors of the newly released 10,000 Mutant Apes. Currently, MAYC has 19,425 NFTs and 12,962 unique holders with a market cap of 23,100 ETH –$386,166,291.95 – and a floor price of 12 ETH –$19,879.86. What Makes BAYC ValuableCelebrity HoldersCelebrities have become a significant game-changer in the crypto/NFTs industry, doubling as media influencers for projects. An example is the Pranksy tweets that led to a substantial sale of the Bored Ape NFTs. Many celebrities have since acquired this NFT and flaunt them in the media. Examples include:Snoop DoggJustin BieberShaquille O’NealMadonnaParis HiltonJimmy FallonKevin HartEminemDJ KhaledTravis BarkerTimbalandSerena Williams etc.Community StrengthCommunity plays an essential role in the success of many projects in the blockchain industry. A project’s community doubles as its foot soldier and influencers. BAYC meet-ups have been held in Hong Kong, New York, California, and the United Kingdom.Membership BenefitsAnother factor that made the BAYC valuable is its utility to its NFT holders, such as membership to the club, the bathroom access, and free NFTs and membership to the BAKC and MAYC. As the Yuga Labs team keeps working tirelessly to create other utilities, existing members have a lot to benefit from future projects. An example of this is the ApeCoin tokens distributed to Bored and Mutant Apes holders.Bored Ape holders got 10,094 $APE for each NFT, while Mutant Ape holders received 2,042 $APE. Imagine if a holder is holding multiple NFTs of both collections.Other Projects by Yuga LabsYuga Labs started its blockchain/crypto journey in less than two years, and the company is currently worth billions of dollars. Their success can be ascribed to working tirelessly to keep reeling out captivating blockchain/crypto and NFT projects.Among their other projects are the $APE cryptocurrency and Otherside Metaverse alongside its Otherdeed NFTs.Want more? Connect with NFT PlazasJoin the Weekly NewsletterJoin our DiscordFollow us on TwitterLike us on FacebookFollow us on Instagram*All investment/financial opinions expressed by NFT Plazas are from the personal research and experience of our site moderators and are intended as educational material only. Individuals are required to fully research any product prior to making any kind of investment.Technical writer, an enthusiast for everything blockchain and decentralized world.

Read More

Universal Studios Announces NFT Scavenger Hunt for Halloween

Halloween is roughly a month away and once it arrives, millions of people around the world can enjoy trick-or-treating, costume parties, and all the traditional activities of the season. But Universal Studios, in partnership with MoonPay, is planning something a bit less traditional for Halloween 2022; an NFT scavenger hunt. It has been announced that on October 31, 2022, visitors to Universal Studios theme parks in California and Florida will be able to redeem NFTs by participating in a scavenger hunt.How the Hunt Will Take PlaceOn the day, 7 QR codes will be hidden at different locations in the parks. Once they are scanned, the NFTs will automatically mint and it has been reported that up to 7 million NFTs could potentially be minted. Those who are lucky and eagle-eyed enough to spot all 7 QR codes will receive a special NFT that comes with exclusive perks. These types of activities are not unusual for Halloween but this puts a unique, web3-based spin on them. And beyond the novelty of winning NFTs and enjoying a scavenger hunt on Halloween, there is also a long-term benefit for the companies. As MoonPay CEO Ivan Soto-Wright said in a statement to Fortune, customer engagement data can also be gotten from this. “If you’re CMO (chief marketing officer), you’re thinking okay, how do I increase the LTV? How do I deepen the engagement with my end customer? And this is one just really good example,” he said.Want more? Connect with NFT PlazasJoin the Weekly NewsletterJoin our DiscordFollow us on TwitterLike us on FacebookFollow us on Instagram*All investment/financial opinions expressed by NFT Plazas are from the personal research and experience of our site moderators and are intended as educational material only. Individuals are required to fully research any product prior to making any kind of investment.Tokoni Uti has written extensively on blockchain and cryptocurrency for years. Her work has appeared on sites like BTCmanager and Blockchain Reporter. She has a degree in Corporate Communications.

Read More

30k Free NFTs to Hit the Blockchain as DC’s Harley Quinn Turns 30

As DC Comics prepares to celebrate the 30th anniversary of its infamous Harley Quinn character, it has a little NFT trick up its sleeve. As a result, launching 30k completely free commemorative nonfungible tokens to mark the occasion.The initiative will see DC comics partner up with PALM NFT Studios to launch the collection free of charge,  resulting in a wealth of digital assets that not only look good, but also act as a ticket into the wider Harley Quinn crew and grant access to a wide range of experiences designed exclusively to celebrate the ‘clown princess of crime!’To mark 30 years of notoriety, ✩ Harley Quinn ✩ is planning a little celebration. It all starts with a free drop.🦇 Bat Cowl holders get early access on 9/29 at 9A PST.🌐 Public mint opens on 9/30 at 9A PST. pic.twitter.com/cGW5pqB9dh— PalmNFT (@PalmNft) September 22, 2022The NFTs will arrive over two days at the end of September, with Bat Cowl holders getting a 24 hour jump start on the competition. As a result, PALM will take a snapshot of Bat Cowl holders at 9am on September 28, before opening the early access mint at 9am on September 29, then launching into the public mint at 9am PST on September 30.So, those with a penchant for the more anarchic side of comic book crime, the Harley Quinn NFT collection will arrive soon!Find out more > > HereWant more? Connect with NFT PlazasJoin the Weekly NewsletterJoin our DiscordFollow us on TwitterLike us on FacebookFollow us on Instagram*All investment/financial opinions expressed by NFT Plazas are from the personal research and experience of our site moderators and are intended as educational material only. Individuals are required to fully research any product prior to making any kind of investment.Decentralised human, Explorer, Adventurer.

Read More

Decentraland Debuts Nifty New ‘Set Home’ Feature

Pioneering open world, Decentraland, has introduced a nifty new ‘Set Home’ feature to its platform. Now, visitors to the virtual destination can set their own user specific spawn co-ordinates and arrive in style to their preferred location.Going forwards, plucky metaverse adventurers can roam the lands in search of a destination that speaks to the soul. Then, declare that area through the simple to use UI, setting it as their destination of choice in Decentraland. Be it, a pleasant meadow, virtual casino, or raging party venue.To get up and running, users just need to navigate to their preferred location. Then, select the drop-down menu just below the map in the top left corner. Wherein, they can simply toggle on the ‘Set Home’ switch, and hey presto the new spawn point will take effect.New Feature: Set your🏡!You can now choose new spawn coordinates when entering #Decentraland.Pick your favorite scene, select ‘set home’, then use https://t.co/ff2uhqAeHt to load into your favorite space. pic.twitter.com/lebdSmFGRh— Decentraland (@decentraland) September 22, 2022The new ‘Set Home’ function will exist purely at browser or client level however. Meaning that upon switching programs or devices, Decentraland will not import the saved home data. So, visitors to the platform will essentially need to set a new spawn point for each one.So, head off on that latest Decentraland escapade and give the new feature a whirl!Want more? Connect with NFT PlazasJoin the Weekly NewsletterJoin our DiscordFollow us on TwitterLike us on FacebookFollow us on Instagram*All investment/financial opinions expressed by NFT Plazas are from the personal research and experience of our site moderators and are intended as educational material only. Individuals are required to fully research any product prior to making any kind of investment.Decentralised human, Explorer, Adventurer.

Read More

Indian Cricket Star Launches NFTs on Rario

These days, NFTs have become sort of the equivalent of a perfume or makeup line in that many celebrities are getting in on them and launching their own. From socialites to sports stars, all sorts of celebrities have released NFT projects. The latest addition to the list is Arshdeep Singh, a cricket star from India that has signed a new deal with the NFT platform Rario. This new deal will see Singh release NFT-based projects for fans. Rario, on its part, has already teamed up with several Indian sports stars like Smriti Mandhana and Cheteshwar Pujar. It has also successfully launched NFTs for that market, having seen a positive response to its ‘Star Power Pack Drop’. The drop featured cricket players from both India and Australia and was sold for between $4 to $150 apiece. Singh, on his part, has said that he is very excited to be teaming up with the company. “This is a great marriage between sports and technology, a wonderful opportunity for me to be closer to my fans who continue to give me so much love and support. I look forward to sharing some of my most cherished possessions and connecting with my fans in the biggest community of cricket fans, Rario,” he said.Follow Rario > > TwitterWant more? Connect with NFT PlazasJoin the Weekly NewsletterJoin our DiscordFollow us on TwitterLike us on FacebookFollow us on Instagram*All investment/financial opinions expressed by NFT Plazas are from the personal research and experience of our site moderators and are intended as educational material only. Individuals are required to fully research any product prior to making any kind of investment.Tokoni Uti has written extensively on blockchain and cryptocurrency for years. Her work has appeared on sites like BTCmanager and Blockchain Reporter. She has a degree in Corporate Communications.

Read More

US Treasury Asks for Public Input on NFTs

The American public could have a chance to shape future NFT-related legislation. This comes as the US Treasury has put out a call for comments from the public specifically about digital assets and potential use in crime. This has been a long-running issue within the NFT sector around the world and this could be a chance for the community to have its voice heard.Giving OpinionsThe public request comprises 23 questions that include the risks associated with NFTs and potential actions that can be taken by the government to mitigate them. “The growing use of digital assets in financial activity heightens risks of crimes such as money laundering, terrorist and proliferation financing, fraud and theft schemes, and corruption,” the document said. Interestingly, the document also asked about a potential Central Bank Digital Currency (CBDC). Several countries such as China already have one and there has been some talk about the US adopting one for years now. This public request comes just days after the US government released its first ‘Comprehensive Framework for Responsible Development of Digital Assets’ report and months after President Biden released an executive order regarding digital assets. That executive order demanded that federal agencies begin work on the regulation of digital assets. Want more? Connect with NFT PlazasJoin the Weekly NewsletterJoin our DiscordFollow us on TwitterLike us on FacebookFollow us on Instagram*All investment/financial opinions expressed by NFT Plazas are from the personal research and experience of our site moderators and are intended as educational material only. Individuals are required to fully research any product prior to making any kind of investment.Tokoni Uti has written extensively on blockchain and cryptocurrency for years. Her work has appeared on sites like BTCmanager and Blockchain Reporter. She has a degree in Corporate Communications.

Read More

Reddit NFT Avatars Sell for Whopping $5,000

Reddit made news earlier this year when it began offering both free NFTs to its top users and a suite of them for sale. This marked the platform’s first foray into the NFT space and was generally well-received. Now, its NFTs are making news once again as two of them have been resold to the tune of $5,000 each. The two NFTs which were sold for this price were from The Senses collection. This collection was designed by Reddit user Rojom as a part of the Collectible Avatars Creator Program. The NFTs from that collection, The Hands #16 and The Hands #46, sold for 4 ETH each on OpenSea, where the collection has been quite popular. When Reddit first announced its collectables (the site seemed to have taken the deliberate action of not calling them NFTs), there was debate within the community about their merit and whether they would embrace them. But now, months later, the NFTs have been very popular, especially in the resale market. All of them feature Snoo, the Reddit mascot, in a variety of outfits, themes, and scenarios, and have brought in a lot of money for their owners.Learn more about NFTs > > The Ultimate NFT GuideWant more? Connect with NFT PlazasJoin the Weekly NewsletterJoin our DiscordFollow us on TwitterLike us on FacebookFollow us on Instagram*All investment/financial opinions expressed by NFT Plazas are from the personal research and experience of our site moderators and are intended as educational material only. Individuals are required to fully research any product prior to making any kind of investment.Tokoni Uti has written extensively on blockchain and cryptocurrency for years. Her work has appeared on sites like BTCmanager and Blockchain Reporter. She has a degree in Corporate Communications.

Read More

The Mythology-Inspired NFT Collection ‘Akobi’ is Almost Here

Akobi, a semi-autobiographical NFT collection inspired by Yoruba mythology and culture, has been slated for a September 29, 2022 release. The collection is the brainchild of Ayobola Kekere-Ekun, a self-taught contemporary Nigerian artist. The 10,000-piece collection will feature Kekere-Ekun’s signature style of bold lines and accentuated facial expressions of her subjects. This ties in with the theme of the collection, which is the artist’s vision of the world and her experiences within it. Details About the Drop The collection will be available for purchase via the artist’s own website. Each piece will have quilled, handmade traits that harken back to Yoruba custom (the collection name Akobi translates to “the first to be born” in the Yoruba language). Quilling especially is an ancient Egyptian practice that creates 3D lines meant to catch and reflect light, giving more depth and character to the subject. And this, of course, is the theme of the collection as it is a personal journey of the artist’s vision and life. The artist Kekere-Ekun is part of a growing movement of traditional artists who are entering the web3 space. Throughout her career, she has scored several coups including being awarded the Dean Collection Awards in 2018 and exhibiting around the world. Her works are currently on show at the Johannesburg-based gallery, Guns & Rain. The Story Behind the CollectionThe Akobi NFTs are more than just digital artwork; they have a moving backstory that goes far beyond than what is initially apparent.The incredibly gifted artist initially dove deeply into her childhood before handcrafting the physical characteristics that underlie these visual NFTs. The NFTs are a reflection of her first visions and how, as a thought-provoking artist, she views the world. The collection’s designs, which incorporate Kekere-Ekun’s unresolved life traumas, are sure to leave Akobi owners in awe while also inspiring them with stories from her exciting and eventful life.Her realistic sketches, which serve as the foundation for the Akobi collection, stand out for their vivid colors and strong lines. Her art gains depth and character from the intricate patterns the lines make while also highlighting the subjects’ expressions on their faces.Follow Akobi > > TwitterWant more? Connect with NFT PlazasJoin the Weekly NewsletterJoin our DiscordFollow us on TwitterLike us on FacebookFollow us on Instagram*All investment/financial opinions expressed by NFT Plazas are from the personal research and experience of our site moderators and are intended as educational material only. Individuals are required to fully research any product prior to making any kind of investment.Tokoni Uti has written extensively on blockchain and cryptocurrency for years. Her work has appeared on sites like BTCmanager and Blockchain Reporter. She has a degree in Corporate Communications.

Read More

AC Milan Forms a Formidable Alliance with MonkeyLeague

Italian footballing giant, AC Milan has announced a barnstorming new collaboration with Web3 e-sports platform MonkeyLeague. As a result, forming a strategic partnership encompassing NFT gaming, merchandising, collectibles, and more!Enter the Italian ChampionsWith the fearsome AC Milan on side, MonkeyLeague now has the footballing might to go toe to toe with the big guns by setting off on a magnificent journey into the hugely popular realm of ball-related sports. Through the mighty endeavour, fans can collect AC Milan-themed MonkeyPlayers, merchandise, wearables and other tokenized assets, as well as compete in a series of exciting AC Milan-branded MonkeyLeague tournaments.The first AC Milan MonkeyPlayer NFTs will arrive later in the year via the Magic Eden marketplace, taking the form of a ‘highest bidder takes the spoils’ style auction, with the top tier NFTs coming complete with an AC Milan jersey signed by the entire club.AC Milan’s hands-on approach to the Web3 ecosystem doesn’t end there however, as the Italian champions will help develop gameplay. Essentially, seeing some of its professional football team playtesting the game and advising on footballing mechanics, all with an end design to provide the most realistic gaming experience possible.Delve into the Competitive World of MonkeyLeagueThrough the next-generation footballing platform, fans and gamers can pit their skills in the digital arena. Achieving this heady dream by forming a team of NFT ‘MonkeyPlayers’ into a tournament-ready battling machine, before testing their mettle against real players to find out who in the Web3 football realm has the talent to come out on top.On the journey, gamers will discover exactly what it takes to build a championship winning team, while also standing a chance to earn MonkeyBucks tokens and digital assets for their troubles, as well as AC Milan on hand with additional goodies such as club shirts, tickets and fan experiences. This is all while providing a deeply engaging football platform, and guaranteeing a great deal of fun along the way.So, the time has come to lace up the old football boots, dust off the shin pads, and take a trip into MonkeyLeague.Find out more about MonkeyLeague > > HereWant more? Connect with NFT PlazasJoin the Weekly NewsletterJoin our DiscordFollow us on TwitterLike us on FacebookFollow us on Instagram*All investment/financial opinions expressed by NFT Plazas are from the personal research and experience of our site moderators and are intended as educational material only. Individuals are required to fully research any product prior to making any kind of investment.Decentralised human, Explorer, Adventurer.

Read More

Old-school Pamela Anderson Photos Released as NFTs

Pamela Anderson has been a pop culture icon for decades now and is especially famous for her role in Baywatch. But now, her fans can get an even more intimate look at the star as several of her photographs are going on sale as NFTs. Taken by photographer Stephen Wayda right before her infamous marriage to Tommy Lee, the photos went on sale on September 22, 2022. Pamela Anderson Comes to the Metaverse The sale sees an exclusive one-of-one image of the star priced at 3 ETH in reserve, as well as two open editions ‘mermaid’ and ‘galmour’ which are priced at $199 apiece. All buyers will receive the original 35mm negative, a signed print, and a certificate of authenticity with their purchase. Given how long ago the photos were taken, it does speak to Anderson’s enduring legacy that fans still want images of her from that point in time. As Wayda himself commented, “When requested my favorite of the 1000’s of girls I’ve photographed, it’s all the time Pam. Over the 28 years we labored collectively, we had typically joked that I had seen her bare greater than a few of her husbands. Pam was all the time a joyous journey, and Pam was all the time FUN.”Check out the top NFT photographers of 2022 > > Over hereWant more? Connect with NFT PlazasJoin the Weekly NewsletterJoin our DiscordFollow us on TwitterLike us on FacebookFollow us on Instagram*All investment/financial opinions expressed by NFT Plazas are from the personal research and experience of our site moderators and are intended as educational material only. Individuals are required to fully research any product prior to making any kind of investment.Tokoni Uti has written extensively on blockchain and cryptocurrency for years. Her work has appeared on sites like BTCmanager and Blockchain Reporter. She has a degree in Corporate Communications.

Read More