No stranger to controversy, Madonna, who's been turning heads for more than 40 years on matters of entertainment, business, and sexuality, is at it again. In partnership with the artist Mike Winkelmann of the Beeple NFT fame, she's lately released a series of NFTs.

## Madonna embraces blockchain

Pop superstar Madonna's entry into the world of non-fungible tokens (NFTs) last March 2022 caught many fans by surprise. She forked out 180 ETH, worth a whopping $560,000 at that time, for a tattooed NFT ape from the Bored Ape Yacht Club ([BAYC](/news/article/bayc-derivatives-explored)) digital art collection. 

Later, in May 2022, the musician released the first Madonna NFT series titled the “[Mother of Creation](https://motherofcreation.xyz/)". The series comprises three digitally rendered videos showcasing a nude woman giving birth to fauna, flora, and technology.

The digital artwork resulted from a year-long partnership between her and Mike Winkelmann, also known as Beeple. Winkelmann made the headlines in 2021 with his Everydays: the First 5000 Days, which fetched $69.9 million at Christie's and set the NFT space on fire. 

## What is the Madonna NFT collection?

The "Mother of Creation" is an exclusive collection containing only three single-edition NFTs. The digital artist and pop/sex symbol is using the videos, showcasing three different motherhood-inspired aspects of life to celebrate motherhood. The Madonna NFT videos give audiences a full-frontal view of the pop star's avatar lying in a hospital bed, forest floor, and rusted vehicle, giving birth. Each of the NFTs is paired with her poetry or that by Rumi, a mystic poet. 

The NFTs are named:

1.	Mother of Nature: The first Madonna NFT, depicting her lying on a laboratory bed delivering a tree that blooms as soon as it comes out of her body, focuses on plant life.  

2.	Mother of Evolution: The second NFT depicts her naked in a run-down city while sitting in some modified vehicle. In the video, her legs are open, and butterflies emerge from her body – the NFT focuses on animal life.

3.	Mother of Technology: The third NFT showing Madonna stark naked and lying in the middle of a forest shows a series of bionic centipedes moving up and down after protruding from her vagina, focusing on technological advancement.

## A provocative NFT collection with a cause
 
To the casual observer, the Madonna [NFT collection](/news/article/are-nfts-dead-investigation) is peculiar but mostly seen as provocative. However, for those in the know, both the theme and execution of the videos are consistent with the character and style of Madonna and Beeple. The amorousness depicted has characterized Madonna’s decades-long musical and artistic career, while the weird renderings speak loudly of Beeple’s typical artwork.

Asked about the provoking nature of her NFT project, Madonna told [New York Times](https://www.nytimes.com/2022/05/09/arts/design/madonna-beeple-nft-videos.html) that the theme was deliberate and wasn't simply "provocative just for the sake of provocation". According to the pop diva, the centipedes and butterflies she gives birth to in the videos symbolize hope and technology.    
  
## Conclusion 

Despite the backlash and initial criticism from the community following the launch of the Madonna NFT collection, the Mother of Creation NFT series fetched more than $600,000. While it may be a far cry from Beeple's $69.9 million, Madonna intimated that proceeds from her NFTs would benefit three non-profit organizations working for women and children. They are the Ukraine-based Voices of Children Foundation, the Congo-based City of Joy Foundation, and Black Mama's Bail Out.

Beyond being a source of entertainment, Madonna’s NFTs indicate that celebrities and charities can, through the [sale and auctioning of NFTs](/news/article/are-nfts-dead-investigation), secure funds for organizations and movements supporting significant causes.


madonna nft created by beeple with image of madonna singing in foreground

Madonna NFT Collection Courts Controversy 

Enhance token (ENH) continues to trend on social media platforms due to the extensive uses of its growing ecosystem. 

Unfortunately, while accounts have been created for the token by CoinMarketCap (CMC) and other crypto price tracking portals, ENH largely remains untracked for the time being. 

## What is Enhance token? 

According to information available on [CMC](https://coinmarketcap.com/currencies/enhancetoken/), ENH is a soon-to-be multi-asset that will be primarily focused on the integration from Web2 into the Web3 space. 

Like all cryptocurrencies, ENH will need to be backed by a strong technological infrastructure before it can become a mainstream digital currency patronized by millions of traders and investors in a market with more than 20,000 crypto assets. 

The [Enhance ecosystem](https://t.co/PGzTaWrs1Q) comprises seven areas; Shop, Apes, Swap, Education, Energy, Staking, and Blueprint.

Shop - This segment of the Enhance project primarily focuses on selling zero sugar and regular drinks as well as a sports bra, sports leggings, duffle bags, backpacks, quarter zip pullovers, performance caps, athletic shorts, tank tops, athletic T-shirts, and running pants. 

Once ENH is fully launched, it could become the primary token to buy the aforementioned products. This could positively reflect in its daily transactions, culminating in a price increase.

Apes - Modeled after the success of the [Bored Ape Yacht Club](/news/article/bored-ape-nft) (BAYC) and its sister projects, Enhanced Apes is a collection of 10,000 NFTs housed in the [Binance Smart Chain](/news/article/bnb-price) (BSC). 

Just like positive news of Bored Ape and Otherside for Otherdeeds is reflected in ApeCoin (APE), the novel token of Enhance could be exploding with above-average monthly sales volumes from its Ape project.

Education – This platform consistently informs stakeholders about the current developments of the project. 

Swap – This is currently operating in beta mode. When fully functional, it will offer fiat onboarding and a self-maintained liquidity provider (LP) pool that will be essential in exchange token swaps.

Staking – In crypto, staking is the locking of a portion of digital assets to support the validation and verification of transactions on a [Proof-of-Stake](/news/article/pos-vs-pow) (PoS) network. ENH is the ecosystem's base currency, and holders that engage in staking could be rewarded with decent periodic rewards.

Energy – While some crypto mining is done via hydroelectricity, this sector will primarily focus on using solar energy in the mining operation of cryptocurrencies.

Blueprint – This segment has been reserved for crypto brands that will partner with the project so that they will be able to thrive and survive in an ever-growing industry where billions of funds exchange hands daily. 

## Will ENH explode?

With potential partnerships in the pipeline, [staking](/news/article/what-is-staking-crypto), and the adoption of Enhance token as a transactional currency, the token could be among digital assets that bring investors decent gains within a short time.


Will Enhance Token Explode? 

The developers behind the famous Bored Ape Yacht Club project, Yuga Labs, have revealed their new NFT collection. It is named Twelvefold and features NFTs with a 12-by-12 grid. One of the most popular NFT creators is interested in entering the [Bitcoin network](/news/article/what-is-bitcoin) with this new project. 

The digital art creators announced the new collection on 27 February, 2023. In a [Twitter thread](https://twitter.com/yugalabs/status/1630342395295412232), they also mentioned that the NFTs would be available for auction in the coming week.

## Twelvefold: A Bitcoin Ordinals NFT collection

The title given to this NFT collection by the BAYC developers signifies the base 12-time system. It refers to the Bitcoin Ordinals that are denoted with the time of their minting. 

There will be 300 collectables in the Twelvefold collection. These include generative art pieces that will be inscribed on [BTC](/coins/btc) Satoshis. Satoshis or Sats are the smallest BTC denominations that can hold data in JPEG, text, audio, or video.

That’s why the NFT pack will be using the [Bitcoin Ordinals](/news/article/forked-bitcoin-ordinals-brought-to-litecoin) protocol.
It allows developers to work with Sats for the creation of digital assets. 

Moreover, it makes it easier for users to transfer or receive those assets.

## When will the Twelvefold collectables release?

The creators did not give an exact date for releasing these digital assets. However, they mentioned that collectors might get to buy them in the ongoing week. [Yuga Labs](/news/article/yuga-labs-explained)’ team will likely give a 24-hour notice that will provide the details about the exact timings of the NFT auction. 

## The rise in the popularity of BTC Ordinals

The [Dune Analytics](https://dune.com/dataalways/ordinals) data insights suggest that more than 200,000 ordinals have been minted. Many projects are catching up on this trend. Before the announcement of Twelvefold, other popular projects also entered the market. It includes the Casey Rodarmor series, launched in January 2023.


Twelvefold NFT Collection Coming from Yuga Labs 

After the euphoria of 2021, last year proved to be a massive disappointment, with many new to crypto losing large amounts of money. One sector that felt the chill of the crypto winter was NFTs - from the highs of 2021, the NFT market cap currently stands at $10.5 billion, leaving many to ask – are NFTs dead?

As a quick recap, an NFT is a digital certificate of authenticity that can represent ownership. However, for now, most NFTs are created to represent digital media, be it artwork, music, or 3D images. In the future, NFT use can extend to contracts, ticketing  - in fact, any real-world product or event where digital ownership is needed.

## Reasons to be optimistic

As I mentioned above, the value of the NFT market today is some $10.5 billion and [counts for 1.03% of the total cryptocurrency market cap](https://coinmarketcap.com/view/collectibles-nfts/). A large sum by anyone's reckoning.

Some people see the picture rather differently. They believe that the end is near due to the massive decrease in NFT trades from the highs of January 2022.

So other than market value, what are the reasons for us to feel optimistic about the future of the NFT? There are many, but let's take a look at five of the strongest reasons to be cheerful ~
Inflation caused worldwide markets to dump, not just NFT
The fallout from two years of the COVID-19 pandemic was almost inevitable. The response to unlimited currency printing resulted in a real-time fall in the value of goods and services, aka inflation. 

This insidious metric has risen in every corner of society, from stocks to commodities to everyday goods, resulting in higher prices across the board. However, all is not lost. The US and the UK have recently recorded drops in the inflation rate, with further falls expected as we progress through the year. This is encouraging for anyone looking to invest a little spare cash into crypto and NFTs.

## Many major brands looking to launch NFT

Many mainstream brands such as Budweiser, Gucci, and Nike have launched or are planning to launch NFT collections soon. NFTs and the Metaverse go hand in hand - Nike fans will be able to purchase a pair of digital sneakers for $50. Nike's platform is built on Polygon. To interact, users simply have to set up a digital wallet and load it with either ETH or MATIC crypto.

## Bored Apes still trending – partnership

Despite the massive drop off from the highs of 2021, one of the most talked about NFT collections – the Bored Ape Yacht Club – is still proving popular with its legions of fans. At its height, one BAYC digital artwork sold for $3.6 million, with another going for $1.7 million. Recent data from Google has shown that searches for BAYC are increasing. In what is certainly a nod to the future of the NFT, [a self-described BAYC whale just parted with $900k to buy 69 DeGods NFTs](/news/article/bored-ape-whale-buys-69-degods-nft).

## Elon Musk and Twitter

Unless you live under a rock, you will be aware that famed entrepreneur Elon Musk finally put pen to paper and purchased the social media platform Twitter. Musk makes no secret of his love of all things crypto, especially given his close association with DOGE coin. If, as many suspect, he makes DOGE the native currency of Twitter, this is expected to provide a huge boost for the legitimacy and, indeed, use of crypto. In perhaps a sign of things to come, NFT Twitter fans can now display their digital art as part of their profile picture.

## Continued evolution

As mentioned above, NFTs are closely related to the Metaverse in the form of digital items users can create, trade, and use on their whim. The future of gaming is virtual, as what we know of as video games changes at a rapid pace. The rise of the mobile Play to Earn gaming concept has seen significant growth in the Far East, allowing players to create and trade their precious digital items. While this has not entirely caught on in the West, many industry experts believe an integrated commercial environment that allows players to trade and earn via NFTs is not from being a common reality.

## The future

There are many reasons to be upbeat about the future of the NFT.

However, as I mentioned above, apart from digital artwork, there is a real need for NFT use cases in wider society. This is mainly due to their ability to determine a unique and non-transferable (non-fungible) good or service. It must be remembered that no NFT can be traded on a like-for-like basis (unlike traditional crypto). This ability to uniquely identify without being copied, substituted, or sub-divided brings value to an NFT.

The concept behind the NFT is relatively simple. This digital certificate then exists on a blockchain which can be accessed and viewed by anyone, thus proving ownership, digital or otherwise. 

NFTs have the ability to revolutionise a wide variety of traditional industries radically, [none more so than real estate](https://butterflymx.com/blog/nft-real-estate/). As we are all probably aware, the house purchase process in the UK is far from ideal, with endless documentation and last-minute gazumping a common reality.

Now imagine a future where buyers and sellers agree a price and use a third-party escrow account to manage the purchase. Once complete, the deeds to the property are transferred in the form of an NFT, which exists on an immutable blockchain. This is a great example of how distributed ledger technology will directly impact the fabric of our future lives. With estimates of a $230 billion market valuation by 2030, there has never been a better time to consider investing in NFTs.


Are NFTs dead? An Investigation

A Bored Ape whale, who goes under the pseudonym "Pokeee.eth" on [Twitter](https://twitter.com/pokeepandaa), just spent ~$900k on 69 DeGods NFTs. DeGods is a dominant [NFT project on Solana](/news/article/how-to-find-new-nft-projects), with all-time sales of over $135M, according to [CryptoSlam data](https://www.cryptoslam.io/degods).

That said, what makes a DeGods NFT such a prized asset? And why did the NFT collector spend BIG on the project?

![degods1.png](https://s3.eu-west-2.amazonaws.com/prod-monitalks-media/degods1_d298b36907.png)

Source: DeGods

## What is DeGods?

DeGods claims to be the "#1 NFT community on Solana". These NFTs are NOT a derivative of the Bored Ape Yacht Club (BAYC). Instead, this collection is [works of original art](/news/article/how-to-make-nft-art).

These non-fungible tokens are held by many prominent members in the crypto space, including Anatoly Yakovenko and Raj Gokal (Co-founders of Solana), Ice Cube (an American rapper), and Sidney Zhang (Co-founder and CTO of Magic Eden).

At the time of writing, there are 3,540 holders of the digital art collection – North Korea is the only country that does not have a DeGods holder. With more than $135M in sales to date, it is not surprising that the DeDAO (The project's DAO) bought a basketball team on 28 April, 2022 – the Big3 team, Killer 3s, for $625,000! A first in NFT history.

![degods2.png](https://s3.eu-west-2.amazonaws.com/prod-monitalks-media/degods2_b424d0178d.png)

Source: [DeGods](https://degods.com/)

Holders of the non-fungible token earn in $DUST, the native token of the DUST Protocol, based on Solana. Currently, the cheapest DeGods NFT available on the open market is worth 517.78 SOL. The piece of art goes by the name "DeGod 4640".

The most expensive sale to date was made as recently as 18 hours ago, for $17,657.76 – DeGod #9001. There's more information about the project on the [website](https://degods.com/).

## Why did Pokeee.eth buy 69 DeGods NFTs?!?

On 13 January, 2023, Pokeee.eth promised to purchase 69 of the digital art tokens if the below post received more than 1,000 likes. The digital art collector's move was in support of the project's impending [move to Ethereum](/news/article/ethereum-whales-fuel-eth-bounce-back). The post has received nearly 3,000 likes, and Pokeee.eth is a man of his word.

![degods3.png](https://s3.eu-west-2.amazonaws.com/prod-monitalks-media/degods3_d4679166d3.png)

Source: [Twitter](https://twitter.com/pokeepandaa/status/1613961351780773890)

On 16 January, 2023, Pokeee.eth tweeted a video showing his floor sweep (purchase at floor price) of 69 of the NFTs for around $900k, through the Magic Eden marketplace.

![degods4.png](https://s3.eu-west-2.amazonaws.com/prod-monitalks-media/degods4_0f5a186be7.png)

Source: [Twitter](https://twitter.com/pokeepandaa/status/1614968118287433728?cxt=HHwWgIDU4c68wuksAAAA)

Notably, the NFT collector owns three BAYC NFTs as well – BAYC #7816, #6587, and #7369.


Pink image of nft whale and bored ape logo

Bored Ape Whale Buys 69 DeGods NFTs 

Presently selling at 9.49 SOL, the Bored Ape Solana Club (BASC) NFT is the first platform to implement the Proof of History protocol. In this article we take a look at the club's origins, how it works, and how it is doing now.

## What exactly is BASC?

[BASC](https://boredapesolana.club/) is a community-run Solana NFT project with 6,000 hand-drawn bored apes that do not correspond to any Ethereum BAYC NFTs.

## How it all started

BASC first launched a stealth mint on 4 January, 2022. On 13 January, 30 minutes after completing 100% of the mint, the collection went live on Magic Eden.

Bored apes were selling for 50+ SOL 48 hours after the launch, while the floor price had risen to about 10 SOL.

![boredaoe1.png](https://s3.eu-west-2.amazonaws.com/prod-monitalks-media/boredaoe1_1da6582a81.png)
 
Contrary to what anti-BASC trolls predicted, it retained a 20 SOL floor price after only three days of being posted live on Magic Eden and was trending as the top NFT collection on bored apes 48 hours after the debut, while the floor price had climbed to roughly 10 SOL.

Since then, these Solana NFT collectibles have already achieved significant milestones, including crossing the $10 million market cap threshold.

[BASC](/news/article/how-to-buy-monkey-nft) also uses a novel Proof of History algorithm to process up to 10,000 transactions per second.

BASC NFT is listed on [MagicEden](https://magiceden.io/marketplace/bored_ape_solana_club), [OpenSea](https://opensea.io/collection/bored-ape-solana-club), [Solanart](https://solanart.io/collections/basc), and WeYu. However, to own these collectibles, which grants you many benefits, you must have a [Phantom Wallet](https://phantom.app/) installed and linked with Solana. You can now [head to claim artwork (PFP)](https://www.basc.app/frame/) and follow other instructions.

Similarly, you can exchange another NFT for a bored ape in only four easy steps.

![boredape2.png](https://s3.eu-west-2.amazonaws.com/prod-monitalks-media/boredape2_85378e8de9.png)
 
Following your confirmation that you are [trading](https://www.yawww.io/) for a valid BASC NFT, which will contain a check for the collection, you must link your Solana wallet, put in an offer, agree to the terms of the trade, and then wait for the buyer(s) to respond before concluding the transaction.


Bored Ape Solana Club Explored

Niftify is an e-commerce NFT platform where users can buy, bid, create, sell, and swap NFTs. The platform also allows users to create, launch, and operate compliant NFT stores and marketplaces with no coding required.

Launched in 2021, [Niftify](https://www.niftify.io/) is easy-to-use and highly secure. It supports lots of popular crypto wallets, including its very own custodial wallet, and features plenty of payment options, including the use of credit cards. It currently operates on the Ethereum and Polygon networks with plans to expand to more.

## Niftify features

Several features enable Niftify to stand out;

•	Launchpad: A place where creators, startups, and corporations can find all they need to launch NFT collections. It is also a place where users can support creators.

•	Swap: The feature allows users to exchange NFTs. They can, for example, exchange multiple NFTs for one NFT. They can also add value to a lesser-valued NFT to exchange it with a higher-valued one.

•	Sales tax automation: The feature ensures sales taxes are always properly charged to all users maximizing compliance.

•	[Marketplace](https://marketplace.niftify.io/): A place where users can sell and buy NFTs. It features plenty of NFT collections, including Invisible Friends, Veefriends, and the popular Bored Ape Yacht Club.

## Native token

Niftify has a native utility token called NIFT. It is Ethereum-based (ERC20 token standard) and is used to incentivize actions within the ecosystem. For example, those who hold the tokens receive discounts when paying service fees. They can also be staked.

The tokens have a max supply cap of 200 million coins. There are currently 11,500,769 of them in public circulation.
As of writing, according to [Coinmarketcap](https://coinmarketcap.com/currencies/niftify/), each of the coins is worth $0.00428. They are ranked the 2,283rd largest cryptocurrency, with a live market cap of $49,162.35.

Considering its price, the NIFT token offers a great entry price into the crypto market. However, it is not listed in many crypto exchanges. Some exchanges where it can be bought include Gate.io, BitMart, and MEXC.

Another inconvenience is that the coins can’t be bought directly with fiat. To invest in the cryptocurrency, you'll first have to buy ETH or BTC from a fiat-to-crypto exchange. Then you must move to a crypto-to-crypto exchange that lists NIFT and use your ETH or [BTC](/coins/btc) to buy the coins.

## Niftify Staking

Niftify allows anyone with NIFT tokens to stake them for rewards. The process is, however, not reversible once initiated.

[Staking](/news/article/what-is-staking-crypto) on the platform comes with a lock-up duration. Those who wish to participate in NIFT staking can, however, determine the lock-up duration, which is between 0 to 365 days. Once locked up, there is no way to reverse the process. There is an unstaking period that lasts seven days.

Staking on Niftify is immediate. The rewards vary depending on staking duration, the amount staked, staking pool size, and the stakers’ population.

## PNFTs

Niftify also allows users to buy, sell, and trade PNFTs or physical non-fungible tokens. The tokens represent tangible or physical objects like electronics, vehicles, and furniture.

PNFTs have several benefits, including:

•	Trading speed: they are easy to buy, sell, or trade. Owners don’t have to possess the physical assets to sell them.

•	Liquidity: because they are easy to buy, sell, and trade, they are highly liquid. Anyone can buy and resell them from any corner of the globe.

•	Access to assets: they allow access to assets that could not be accessed and bought online, like vintage vehicles.

## Conclusion

Niftify is an ambitious e-commerce NFT platform that looks to change how people interact with NFTs. The platform offers great features to help with NFTs, NFT stores, and marketplace creation. Its lazy minting feature is a notable feature that helps ease the NFT creation process.

So far, the company behind the platform has entered into some strategic partnerships. These include partnering with acrobatic dunking world champions Dunking Devils to sell NFT-based event tickets in Slovenia. The company also partnered with the Repton Family of schools to launch NFTs for students.


blue image of phone on a laptop with niftify logo overlayed

What is the Niftify Platform?

[Bored Ape Yacht Club (BAYC)](/news/article/how-to-buy-monkey-nft) derivatives are slightly modified versions of the original BAYC Non-Fungible Token (NFT) digital art. The modified NFTs or derivatives have recently gained demand in the digital market. Well, you now know what BAYC derivatives are. But what about the 'Bored Apes' in [Bored Ape Yacht Club](https://boredapeyachtclub.com/#/)?

In simple terms, BAYC is a collection of digital art commonly known as non-fungible tokens (NFT). The art features Ape cartoon profile images generated by a computer algorithm. The BAYC art collection is built on the Ethereum blockchain and launched on 23 April, 2021.

Four friends, Greg Solano, Wylie Aronow, Zeshan Ali, and Kerem Atalay, founded Yuga Labs, the BAYC parent company. According to Aronow, the name 'Ape' is derived from the term 'aping in', used in cryptocurrency, like [Dogecoin](/coins/doge), to mean buying a new NFT or currency after its launch without doing thorough research.

## Why are BAYC derivatives so popular?

Currently, there is increased publicity around NFTs and their derivatives that has attracted millions of buyers keen on making a profit. Also, the fact that one can use their Bored Ape as an avatar on social sites makes these NFTs appealing to many. In addition, [exposure by celebrities](/news/article/stephen-curry-nft), collaboration with big brands, and scarcity have jointly made BAYC derivatives very popular.

## Are the derivatives valuable?

More often than not, original NFT collections are out of bounds to many traders who fail to get on board early on. This drives traders and creators to make their most desired and popular NFT collections derivatives. By doing so, they also enjoy the hype around the original collections and make huge sales after minting them. However, this approach is not sustainable, and many derivatives do not last long.

Currently, the price floor of a Bored Ape is $86,788, equivalent to 57.75 ETH, and still one of the best and most popular NFTs in the market. This basically gives these derivatives an upper hand when it comes to value. 

Although many are still speculating on cryptocurrency's value [stability and Anti-Money Laundering (AML) security measures](https://news.sky.com/story/elon-musk-sued-for-258bn-over-claims-he-ran-a-pyramid-scheme-to-promote-dogecoin-12635334), things don’t look like they are changing any time soon.



BAYC Derivatives Explored

Yuga Labs, since its launch in 2021, has become an influential blockchain company that is shaping the Web3 ecosystem. Its service offering has made it popular among non-fungible token (NFT) enthusiasts.

The blockchain company is well known for two of the world's biggest NFT projects - Bored Ape Yacht Club (BAYC) and CryptoPunks. Even though it initially set out to become a global NFT media empire, the company keeps raising the bar. It aims to reduce the limitations in Web3. By building what it calls the "Yugaverse," project owners and creators can interact seamlessly in Web3.

## What are Yuga Labs?

Founded in February 2021 and incorporated in Delaware, United States, Yuga Labs is a blockchain company specializing in creating significant and profitable NFT projects.

The company was founded by two individuals who went by the pseudonyms Gordons Goner and Gargamel. Two engineers, Emperors Tomato Ketchup and Sass, also joined the team.

However, an exclusive by BuzzFeed doxed the real identities behind Gargamel and Gordon Goner. They were revealed to be Greg Solano, a writer, and Wylie Aronow, a former student. The engineers subsequently revealed their names to be Zeshan and Kerem.

While controversies trailed the doxxing, given that anonymity is a major feature of blockchain technology, the founders chose to remain anonymous when the NFT project was launched in April 2021.

Notable among the firms' projects are the BAYC, Mutant Ape Yacht Club (MAYC), Bored Ape kennel Club (BAKC), and CryptoPunks. While BAYC was a pilot project with a unique collection of 10,000 Bored  Ape  NFTs, BAKC and MAYC were launched as spinoff collections in June and August 2021, respectively.

Currently, the company has one of the most dominant NFT projects and is a financially stable company in Web3. [Data from Statista](https://www.statista.com/statistics/1265505/bored-ape-yacht-club-nft-development/) shows that the firm closed 2021 with a sales volume of $ 13,932,950.62.

*Read More About [Dogecoin](/coins/doge)*

### Projects owned by Yuga

Yuga Labs is the backbone behind several blockchain-based NFT projects. These projects include:

•	[The Bored Ape Yacht Club (BAYC)](/news/article/how-to-buy-monkey-nft) - represents a collection of 10,000 Bored Ape NFTs that have grown to become quite valuable and recognizable profile pictures in the crypto industry. With the collection valued at billions of dollars, it currently has a floor price of $106,955.

•	CryptoPunk- are 24 x 24-pixel images that are generated algorithmically. It was earlier unveiled as a fixed 10,000 set of items in 2017 and subsequently became an inspiration for the ERC-721 standard. In March, Yuga Labs [acquired](https://cointelegraph.com/news/nifty-news-yuga-labs-buys-cryptopunks-1inch-wallet-supports-nfts-and-more) the intellectual property (IP) of CryptoPunks.

•	The Otherside - represents a Metaverse platform with a user- experience that has a non-linear structure. The platform allows players to explore the virtual world in its entirety.

## The future of Yuga Labs

It can’t be denied that NFTs play an important role in the technology industry, both as a means of ownership and investment.

Since its inception, Yuga has shown promising attributes. Its thirst to become the future of the Metaverse shows that the company will keep meeting investors’ expectations.

Despite reports that the US [Securities and Exchange Commission (SEC)](/news/tag/sec) is investigating the company over allegations of unregistered offerings, its projects are interesting and should be watched closely for more developments.
 
 


Yuga Labs Explained

The [Solana Doodle Apes](https://magiceden.io/marketplace/solana_doodle_apes) project is a collection of community-driven non-fungible tokens. If you are into NFTs, you must be familiar with the [Bored Ape Yacht Club](https://boredapeyachtclub.com/) collection, which introduced funky ape avatars. The Doodle Apes are inspired by this project and introduce similar kinds of collectables on the [Solana blockchain](/news/article/solana-price-gbp). 

But this project is not just a rip-off of [Bored Ape](/news/article/bored-ape-nft) Yacht NFTs. It introduces a more adorable, colourful, and cute version of the apes. Let's dive deeper into the project to learn whether it is worth your investment.

## What are Solana Doodle Apes?

Doodle Apes is an SOL-based collection of digital assets. Launched on 7 January, 2022 and introducing 3,333 collectables on [Magic Eden](/news/article/magic-eden-expands), these collectables are ape avatars with distinctive characteristics. The project draws inspiration from a popular Ethereum-based NFT collection by Yuga Labs.

The developers allocate 50% of trading fees royalties for the holders at least once each month. Another 5% of the royalties go to the community fund, which is consumed for marketing, community development, and maintenance.

If you are an NFT holder, you can vote to decide how the platform should spend the fund. Holding these NFTs will also allow you to generate a passive income.  

## Characteristics of Doodle Apes

The team behind this collection describes these doodled apes as intelligent and fast creatures. They like to swim, climb trees, and do high jumps. You can also find these new ape species in the South American jungles.

Each of the ape NFTs has unique attributes like different coloured backdrop, clothing, facial features, hats, and skin tone.

## Where to buy these NFTs

This collection of NFTs is available on some of the best Solana NFT marketplaces, including Magic Eden and SolSea. You can also find them on top-ranked marketplaces like OpenSea and Rarible. Moreover, its roadmap indicates that it may soon be launched on other platforms like Digital Eyes, SolanArt, and others. 

## What’s the floor price of these collectables?

As per the data by Magic Eden, the total volume of these collectables is 8,138.37. The total number of holders is 2,247, and the floor price of each NFT is 0.067 SOL. However, there are a few NFTs whose prices are up to [1049882.4 SOL](/news/article/solana-nft-marketplace).

## Is Solana Doodle Apes NFT legit?

To gauge the legitimacy of any project, its website and socials are important. Currently, the project's website [https://solanadoodleapes.com](https://solanadoodleapes.com/) is not accessible, and it isn’t available on Twitter either. It is pretty concerning; that’s why Magic Eden has also flagged the collection. 

Nonetheless, it is listed on various other [marketplaces](/news/article/solana-nft) like SolSea, OpenSea, and Rarible. It also proposed an exciting roadmap. So, if the project progresses, we might see more activity within the community. If you are considering investing in this collection, it is advisable to conduct your research.



Solana Doodle Apes Explained

The entire crypto market is reeling from the [crash](/news/article/ftx-collapse-blockfi-suspend-withdrawals) of the FTX exchange. Amid this, the price of all the major cryptocurrencies, including [Bitcoin](/coins/btc), [Ethereum](/coins/eth), and others, have plunged. On the other hand, NFTs have also felt some impact from this crash. But one of the collections that suffered the most is the [Bored Ape Yacht Club](https://boredapeyachtclub.com/) (BAYC) NFT collection.

The data from several sources suggest that the price of NFTs for this project is continually decreasing. One of the primary reasons behind it is the tumbling value of Ether. This has forced the holders to panic sell their digital art collectables. 

## The plunging value of the BAYC NFT collection

The data from [NFT Price Floor](https://nftpricefloor.com/) indicates that the CryptoPunks collection has replaced Bored Ape collectables. The floor price of CryptoPunks is 66.49 ETH, whereas the value for the [Bored Ape Yacht](/news/article/bored-ape-nft) collection is only 52.00 ETH. 

Besides, the data aggregator for collectables, [CryptoSlam](https://cryptoslam.io/bored-ape-yacht-club/sales/summary), further shows that the sales of NFTs have decreased over the past month. Last month, the total traded volume was $31,275,729.82. However, in November, till now it was $26,838,932.67.

## Why is the price falling for the BAYC NFT project? 

It is one of the most popular projects in the digital art market. The falling costs of these NFTs are quite alarming for the collectors. Though there are numerous factors for the decline in its value, [FTX collapse](/news/article/ftx-bankrupt-who-to-blame) is a major one. 

According to Wu Blockchain, the creators of BAYC, Yuga Labs, had stored around 18,000 ETH on the FTX’s Blockfolio for royalties.

![bayc.png](https://s3.eu-west-2.amazonaws.com/prod-monitalks-media/bayc_7a1534ef34.png)
 
Because of this, its collectables have experienced a more than 10% decline in value. Moreover, the project lost its first position due to the drop in market capitalisation. The collectors are now inclined towards owning a [CryptoPunks](/news/article/jay-z-cryptopunks-nft) collectable instead of this project’s NFTs.


Why BAYC NFTs Suffered Most from the FTX Crash

The [Monkeyland](https://monkeylandnft.com/), a Metaverse game, has launched its NFT, taking social circles and many communities by storm. It has also attracted the involvement and interest of numerous KOLs and big Vs.

The Metaverse is rapidly evolving. Big names in technology, such as Facebook, Google, Microsoft, Apple, Sony, Tencent, and Huawei, have already implemented the most popular concept, "Metaverse".

## What is Monkeyland?

It is a collection of 3,999 ERC-721 non-fungible tokens on Ethereum. It is a monkey experimental P2E NFT game in which 3,999 monkeys are built, trained, and watched grow in the Metaverse. Monkeyland tokens can be earned by winning or engaging in other people's games.

## The popularity of "Monkey" NFT

The Monkey is immensely popular in the market and is generally in the top ten NFTs preferred by users. Monkey-related tokens have become a social media trend. They have attracted many celebrities, big Vs, famous athletes (including NBA Rookie of the Year LaMelo Ball), and other influential people to participate.

This "[Monkey](/news/article/how-to-buy-monkey-nft)" NFT's east wind naturally blows to Monkeyland NFT. Aside from the hot market caused by the overall environmental situation, the founder of Monkeyland put in place a detailed roadmap before the project's launch, clearly explaining its ownership. The advantages of NFTs include ground monitors, snipers, liquidity pools, and contract manufacturers.

## The wealth effect of Monkeyland NFT

NFT projects with "ecological" attributes are becoming increasingly popular as NFT participants become more interested in projects with utility (rather than just a piece of digital art).

When people purchase digital tokens, they are very concerned with whether they will make money, which sometimes exceeds their liking.

An NFT project will unavoidably draw attention from the outside world if it has a significant wealth effect. There are numerous examples of "small investment, big return". For instance, NBA Top Shot gained popularity after a LeBron James NFT card sold for a handsome $100,000.

Monkeyland has the same genes. You can make huge profits if you purchase the first batch of the NFT. There is still ample room for profit in the secondary market if you have a good eye.

## Monkeyland launch

Within three hours, the Otherside Metaverse sold 55,000 units of Monkeyland tokens, also recognised as the Otherdeed. The land cost 305 [ApeCoin](/news/article/gucci-accepts-apecoin-payment), worth about $5,800 at the time of minting, and grossed $317 million.

55,000 of the 100,000 Otherdeed NFTs have been purchased by more than 27,000 users, with the remaining 45,000 included in the airdrop open to existing BAYC and MAYC NFT holders.

Customers were required to complete a Know Your Customer (KYC) verification of NFT to arrive in the virtual world of the Otherside metaverse.

Holders of the [Bored Ape Yacht Club (BAYC)](/news/article/bored-ape-nft) and Mutant Ape Yacht Club (MAYC) were free to claim Monkeyland for 21 days.
According to Etherscan block explorer data, the Otherdeed sale increased the GAS fee on the Ethereum blockchain to 8,000 GWEI.

## The community effect

People with [Monkey](/news/article/lazy-monkey-nft)-related avatars have recently been seen on social media platforms. Monkeyland has a booming market and attracts a variety of big names in the business and movie industry due to its community effect.

Before this, it was challenging to imagine an NFT project that would inspire thousands of individuals to promote it voluntarily and actively and even express their love by changing their avatars.

## Is it a promising investment?

Monkeyland, the Metaverse game, promises huge profitable returns to its holders. The monkey avatars have taken social media by storm. Looking at the [Monkey NFTs](/news/article/monkeyball-nft) craze, we can say Monkeyland NFT can be a promising investment in the long run. 

But, it is always suggested to conduct in-depth market research before investing.


Monkeyland: Metaverse NFT Game

Wardell Stephen Curry II, born March 14, 1988, is an American professional basketball player for the Golden State Warriors in the National Basketball Association (NBA). He is widely regarded as one of the greatest basketball players of all time and the most excellent shooter in NBA history. He is credited with revolutionizing the sport by inspiring teams and players to shoot more three-pointers.

## Stephen Curry bought Bored Ape Yacht Club NFT

Stephen Curry recently paid 55 ETH ($180,000) for a [Bored Ape](/news/article/how-to-buy-monkey-nft) Yacht Club NFT.

His Bored Ape #7990 NFT depicts a blue-fur ape dressed in a brown tweed suit and sporting green zombie eyes. Currently, his (username SC30) Bored Ape is being bid on for 39.61 ETH ($125,700), significantly less than he paid.
 
## Stephen Curry's Partnership with Under Armour

Under Armour, a sportswear company based in the United States, has [announced](https://lab.currybrand.com/currycounter) that they will release NFTs to commemorate every three-point shot made by NBA star Stephen Curry during the current playoffs.

The Stephen Curry NFTs will be given out to fans on a first-come, first-served basis. It will include 'serums,’ kept in digital wallets that allow owners to customize their avatars' appearance.

For every three-pointer Curry makes in a playoff game, the most active Golden State Warriors fans can collect three free digital Basketballs. It will be released under the Curry Brand.

## How can a user get NFTs released by Under Armour?

Before proceeding to the 'Reserve an NF3 Basketball' option, fans must first link their MetaMask wallet to the website. When a Basketball is available for reservation, Steph's fans can click 'Agree to Terms & Conditions and then 'Reserve.'

Users must then scroll down to the 'NF3 Basketball Winners' section to determine whether or not they have successfully reserved a Basketball. After verification, they should scroll down to 'NF3 Counter' and select 'Claim' one hour after the game.

The reserve button will be activated when Curry makes a three-pointer in the Playoffs. Pressing Reserve does not guarantee NF3 Basketball. The first person to click 'Reserve' will secure an [NFT](/news/article/free-nfts), but they must pay the gas fee.
If a user has successfully reserved a Basketball NFT, they cannot book another one until the next game. 

## Stephen Curry 2974 NFT collection

Offered in collaboration with the 2974 Collection, this is a special "Birthday Game" 2974 Collection NFT commemorating Stephen Curry's impressive performance against the New York Knicks on March 14, 2015. Steph's 27th birthday also doubles as an invitation to his exclusive, upcoming birthday celebration, where, among other things, the winner will receive an opportunity to play basketball with the two-time NBA Most Valuable Player.

Curry's historic three-pointer inspired the development of his famous 2974 Collection, which was named one of five finalists in the NFT NYC Awards' Most Impactful for Charity category. It's worth noting that Curry donates 100% of the 2974 Collection NFT profits to charity, specifically his Foundation [eatlearnplay.org](https://www.eatlearnplay.org/).

This historic NFT is a thrilling remembrance of the future Hall of Famer and Golden State Warriors icon, appearing in his sixth NBA Finals since 2014-15.

Exclusive merchandise, game trivia giveaways, autographs, memorabilia, and more are available to all 2974 Collection NFT holders. Curry has also participated in video sessions on the Discord channel for the 2974 Collection.

Stephen Curry's involvement in the [NFT](/news/article/nft-land) market will make other sports professionals dive into this space. This would also encourage many different companies to embrace blockchain technology and launch new NFTs in partnership with other celebrities. 



Stephen Curry NFT involvements

Although NFTs have existed for five years, the nonfungible token boom didn't start until 2021. It happened at the same time as the debut of the [Bored Ape Yacht Club](https://boredapeyachtclub.com/#/), a collection of 10,000 Lazy Ape NFTs featuring cartoon monkeys that have come to represent the entire industry. The past year has seen BAYC develop into a bellwether for NFTs, much like bitcoin is for the overall crypto market.

## What are Lazy Monkey NFTs?

Yuga Labs' Lazy Ape is an NFT collection built on the Ethereum (ETH) blockchain. Each NFT is known as an Ape.

These digital artworks depict bored simians. They all have a similar appearance and feel, but each monkey has a unique combination of facial expressions, accessories, and outfits, so no two are alike.

This combination of features—or the relative rarity of each variety—could be the driving force behind the Lazy Apes' popularity. "Rarity" is a formal measure of each Ape's uniqueness in the BAYC community.

## What makes Lazy Monkey NFTs so expensive?

1. Utility
Lazy Ape is valuable not only because it serves as a digital identity but also because it comes with commercial usage rights. Lazy monkey NFT owners can not only resell the NFT for a profit but also sell spinoff products based on the art.

One Bored Ape owner created a Twitter account for his Ape and created an entire backstory in which the Ape is Jenkins, a valet at the Yacht Club. Jenkins is personable, crypto-savvy, and tells incredible stories—the ideal combination for a successful Twitter account.
Jenkins' story is enhanced by the fact that he was the cheapest Ape in the collection, which influenced his character as a valet. People are drawn to the classic "underdog rise" story on a basic level.

 2. Limited supply
Basic economics: because there are only 10,000 Bored Apes, the supply of NFT art is quite limited. With the brand's massive popularity, we have a high-demand/low-supply dynamic that will inevitably drive prices up.

Furthermore, some Bored Ape avatars in the same collection are rarer than others. Each monkey is a unique, randomly generated combination of 170 characteristics such as background colour, earrings, expression, headwear, clothing, etc. This derived scarcity also contributes to some Bored Apes' high prices.

3. Celebrity Support
Celebrities nowadays are showing immense interest and support for Lazy Apes. BAYC NFT is owned by Jimmy Fallon, Post Malone, Mark Cuban, Paris Hilton, Stephen Curry, [Snoop Dogg, Eminem](/news/article/snoop-dogg-nft-song), and Shaquille O'Neal. It's also common knowledge that involving celebrities in anything can increase interest—and prices.

Because of the significant celebrity involvement, [Bored Apes](/news/article/how-to-buy-monkey-nft) have become a status symbol — similar to a digital Veblen good — the higher the price, the more people want 
one.

 4. Unique content
BAYC provides Lazy Ape holders with exclusive content benefits, some of which are detailed in the roadmap on the BAYC website. The roadmap is a to-do list that the founders intend to cross off when they reach their sales percentage targets.

5. Early entry to the NFT world
[While Bored Apes NFT](/news/article/bored-ape-nft) is not the first among NFT collections, they are one of the few available. Not to overlook the novelty, but it does contribute to the movement's success. For example, CryptoPunks are valuable because they are the first NFT collection.

 BAYC acquired Cryptopunks in early March 2022, significantly reducing competition and establishing their position as forerunners of the NFT-community movement. BAYC intends to grant CryptoPunks owners intellectual property and commercialization rights, as they have with Bored Ape owners. This will inevitably increase demand, resulting in a price increase.



Why are lazy monkey NFTs so expensive?

Monkey NFT- the [Bored Apes](/news/article/bored-ape-nft) are a collection of 10,000 illustrated ape pictures.  Each picture features a colourful background and a photograph of an ape. 10,000 distinct NFTs of the apes are created by changing and combining their various traits. There are several variations for every aspect of the image. Hats and clothing are not the same. Teeth and eyes are interchangeable, as are their moods. 

This collection of pictures are purchased, sold, and traded as NFTs. Each of the many traits, characteristics, assemblages, and designs contributes to the development of an ape with a specific value. The NFTs are regarded as securities, and the market determines how much they are worth. They could skyrocket in value or they might vanish at any time. 

## How to purchase Bored Apes NFTs?

1.	Create an online account

[BAYC](https://boredapeyachtclub.com/#/) runs on the Ethereum network. As a result, buying Ethereum is the first step in getting an ape. Create an account on a trading platform to achieve this. Gemini Trust Co., Coinbase Global Inc., and eToro are the best exchange platform despite the wide range of options available because of their security, usability, and affordable costs.

After you've created an account on one of these exchange platforms, fund it by buying ETH. You will, however, require a place to keep your ETH and NFTs.

2.	Purchase or download a cryptocurrency wallet

A [cryptocurrency wallet](/news/article/crypto-wallet-multiple-currencies) is required for both buying and storing NFTs. The most popular software crypto wallet for OpenSea- the exchange where most investors purchase and sell NFTs, is MetaMask. For convenience, OpenSea may be downloaded for Google Chrome and added as an extension.

3.	Send ETH to crypto wallet

You must transfer ETH you have on a trading site to your wallet. You must locate your Metamask wallet address in order to accomplish this. You can find a string of 64 letters and digits in your wallet. Copy this address and paste it into your trading platform's "Send" section. Send the specified amount, then complete the transaction.

Ethereum is now running slower and costing more than normal. As a result, ETH may take 30 minutes to reach your wallet and cost you hundreds in gas. When compared to the cost of an ape, these fees are modest.

4.	Purchase your desired monkey nft

Go to OpenSea once you have ETH in your wallet. Find the NFT you want to buy and connect your wallet. You can buy the NFT instantly if it has a "buy now" price. You may also place a bid on the ape if one has been placed and wait for the seller to accept. The NFT will be saved in your wallet after the deal has been completed.






How to buy the monkey NFT- Bored Ape

Gucci, an Italian luxury brand, announced on Monday that it would [accept apecoin as a payment method](https://cointelegraph.com/news/gucci-becomes-first-major-brand-to-accept-apecoin-payments). The payment mode is currently only accessible in the United States because not many countries allow crypto to be accepted as a payment method. The brand is partnering  with Bitpay to make the payment option available. Bitpay is a cryptocurrency payment processing firm that has worked with numerous well-known companies to make cryptocurrency payments possible.

It is, however, Gucci's 12th cryptocurrency that they accept as payment. In May, the company announced plans to accept 12 crypto assets as payment options in 111 stores across North America. Bitcoin, Ethereum, Dogecoin, SHIB, Litcoin, Wrapped BTC, USDT, USDC, and many more were on the list.

Gucci has emerged as one of the few large companies to engage with cryptocurrency aggressively. In February, the Italian brand launched the "SUPERGUCCI" NFT collection in collaboration with the vinyl toy brand SUPERPLASTIC. The following month, it released the "Gucci Grail" NFT collection, targeted at owners of top NFT projects like the [BAYC](/news/article/bored-ape-nft). The brand is profiting from the current excitement in the cryptocurrency and NFT markets.

## Apecoin community reactions

ApeCoin's official Twitter page responded by stating that they are thrilled that Gucci will be the first large company to accept the cryptocoin for in-store transactions. Everyone is excited about this move because it is a community-driven initiative. As a result, it's not surprising that Twitter is flooded with tweets concerning Gucci's moves. Users have been seeing that more corporations are adopting the Web3 environment, and it appears that Gucci is ready as well.

Apecoin (APE) has experienced a rise in its general acceptance as a payment method. As the market has gained traction and the cryptocoin has witnessed some favourable developments, it has increased by about 50% in the previous month. It is currently trading at $7.32. However, the coin is still nearly 75% down from its ATH.



Gucci now accepts ApeCoin as payment

So, it's been a year in the life of [Bored Ape NFT](https://boredapeyachtclub.com/#/).

Bored Ape Yacht Club celebrated its first anniversary with close to $2 billion in sales volume as of the end of April 2022.
This places Bored Ape NFT in third place behind CryptoPunks and Axie Infinity in the all-time rankings in terms of volume.  

Bored Apes became a mainstay in the non-fungible token (NFT) space in 2021 after its launch in April of that year. The Bored Ape Yacht Club contributed substantially to the more than $25 billion spent on NFTs in 2021.

Although millions of people have heard about a digital collectible called BAYC NFT, only a fraction could describe what non-fungible tokens entail.

Yet, if there is a single brand that exposed NFTs to millions of decentralized finance fans and blockchain enthusiasts, it was the Bored Ape Yacht Club. The impact of Ape NFTs on the market has seen numerous celebrities use some of the unique collectibles as their profile picture.

Among them are footballer Neymar JR., comedian Jimmy Fallon, rappers Eminem and Timbaland, and socialite Paris Hilton.

## Why Are There 10,000 Bored Apes?

The Bored Ape Yacht Club was created by Yuga Labs and comprises 10,000 unique collectibles. In the non-fungible token world, like the real world, there are several art forms. Among others, there are one-off visuals and NFT collections that come in limited numbers.

A great example of a one-off visual can be attributed to Beeple’s NFT called The First 5000 Days, which sold for $69.3 million at Christie’s auction house in New York.

On the other hand, digital collection is what you are experiencing with BAYC, CryptoPunks, and NBA Top Shots, among others.
Instead of making a generic image of a bored ape that could be sold at the same price to millions of people, Yuga Labs decided to take a different approach.

Their strategy was to make 10,000 apes with the same template, but each Ape NFT comes with different attributes that confer uniqueness.
In the Bored Ape Yacht Club, each Bored Ape has unique clothes, fur, facial expression, and accessories.

This fell in line with one of the four attributes of NFTs, which is indestructibility. The data of all 10,000 NFT bored apes are stored on the [Ethereum](/coins/eth) blockchain. Each token cannot be removed, destroyed, and, more importantly, replicated.

Out of the 10,000, 46 bored apes came with solid gold fur. Since they remain virtual assets, Bored Apes with solid gold furs are more expensive than Ape NFTs with little to no accessories.

Aside from Axie Infinity, BAYC NFTs has given competition to the World of Women, Art Blocks, Azuki, CloneX, Moonbirds, the Sandbox, Cool Cats, Meebits, Farmers World, and Adidas Originals.

## What Makes Bored Ape Yacht Club Valuable? 

Six attributes confer value on a crypto token in the crypto finance space. They are scarcity, utility, transferability, non-counterfeitability, divisibility, and durability.

Aside from the indestructible attribute earlier pointed out, non-fungibles are indivisible, verifiable, and non-interoperable.

This takes divisibility out of the attributes that confer value to the Bored Ape NFTs, since one Bored Ape is a whole item that cannot be interchanged or divided. Analyst Ollie Leech of Yahoo Finance believes NFTs exist exclusively as whole items.

After being launched in April 2021, all 10,000 bored apes sold out at a price per ape of $190, which was around 0.08 ETH within 12 hours. By the close of July 2021, a single Bored Ape was exchanging hands at $17,334.

Bored Apes ended the third quarter of 2021 with a price of $107,726. In five months, Bored Ape NFT price increased by 56,597.9%.

Bored Ape NFTs' price in the opening days of October 2021 was $122,113, reaching a quarterly high of $306,219 on December 30, and closing the last quarter of the year at $178,660.

There was a 46% increase between BAYC’s opening and closing price in the fourth quarter of 2021.

Overall, there was a 93,931.6% spike in bored ape price from April to December 2021.

With that said, what makes a digital collection successful is subjective. Utility, community appeal, celebrity involvement/influencer, and mainstream potential are factors that have conferred value on Bored Ape NFT.

## Utility

Although several NFT projects claim to offer utility of some sort, most of them do not.

When ApeCoin launched on March 17, 2022, the ApeCoin Foundation linked APE to the Bored Ape Yacht Club and its sister project, the Mutant Ape Yacht Club (MAYC) NFT projects.

Till mid-June 2022, the ApeCoin airdrop remains active.

Holders of the BAYC and MAYC stand a chance of earning free APEs. Bored Ape Yacht Club holders are eligible to claim up to 10,950 APE, while Mutant Ape Yacht Club holders can claim up to 2,042 APE. Overall, 150 million APEs will be airdropped.

This has largely contributed to the soaring Bored Ape Yacht Club NFT price in 2022.

After opening at $183,276 on January 1, a single Bored Ape NFT exchanged hands for $351,561. There was a 91% between ape NFTs' opening and closing price in the first quarter of 2022.

Bored Ape traded for $373,399 in the early days of April and closed the month exchanging hands for $382,423.

Bored Apes reached such valuation due to conferring eligibility on holders to earn free ApeCoins.

Bored Ape Yacht Clubs utility (medium of exchange) or transactional currency comes with APE.

APE can be used as a payment method on the crypto casino BC.GAME. People who enjoy gambling with cryptocurrency can use their APE on their crypto wallets without any extensive verification process from traditional financial institutions. Aside from this, APE can be used to pay for digital subscriptions by TIME magazine.

Moreover, APEs can be earned through the play-to-earn game Benji Bananas.

More importantly, APEs attribute as a utility token will soar as it is the primary currency that will be overseeing all transactions on the metaverse called Otherside.

## Celebrity Involvement/Influencers 

Celebrities have millions of followers across several social media channels. Most of them throw their weight behind projects deemed credible by the major players in the crypto finance space. With Bored Ape Yacht Club, celebrities such as NBA star Stephen Curry, musician Justin Bieber, and other stars have purchased Bored Ape NFT. Some have gone public about it. Once millions of people see the mileage BAYC is garnering in the traditional news media and social media circles online, the resultant effect will be an ascension in the price of the digital collectible.

## Community Involvement 

The ApeCoin Community is one of the most vibrant communities in the space. ApeCoin has channels across Twitter, Facebook, Reddit, Instagram, Telegram, and Discord.

Discord and Telegram are used to promote events such as airdrops, the launch of the metaverse, and news of acquisitions made by Yuga Labs.

Bitcoin would not have survived for 13 years without its community. Dogecoin (DOGE) and Shiba Inu (SHIB) would have become relevant were it not for the impact of Dogecoin and Shiba Inu Army. In the same way, conversations about the Bored Ape Yacht Club project have played a substantial role in each collectible becoming more expensive daily.

## Mainstream Potential 

There are more than 100 NFT projects in the space.

What’s more, as of May 1, 2022, there are more than 19,000 crypto projects in circulation.

If the Bored Ape Yacht Club NFT distribution of 10,000 APEs was not of top-notch quality, the project would have headed into extinction zones, as others have done.

All 10,000 bored apes are unique, poke fun at NFT lovers, and attract buyers.

In April 2021, there were 141 unique buyers, and sales were in the region of $37,556.

When the financial markets reached their peak in May 2021, which saw several coins such as Ether (ETH) and Internet Computer (ICP) reach new all-time highs, the number of unique buyers increased. In May 2021, there were 3,548 unique buyers, and sales were around $17 million. In 2021, Bored Ape Yacht Club's sales volume peaked at $297 million in August, as per data retrieved from CryptoSlam.

As investors rely on past data to make projections about the future sales patterns of digital assets and collectibles, the potency of the project has seen soaring volumes in 2022.

In January 2022, Bored Ape Yacht Club's sales volume was approximately $339 million.

Overall, BAYC's sales volume in the first fourth months of 2022 was $957 million.

With these statistics in mind, it would be extremely easy for a holder to sell a bored ape NFT for more than $400,000.

It would also be easy for a prospective buyer to purchase one NFT bored ape for more than $400,000 since it could be resold for twice that amount within a short period.

## Who are the major players behind the Bored Ape Yacht Club? 

Yuga Labs is the team behind bored ape NFTs. Copying the pseudonymous nature of the crypto stratosphere, the four players behind the project go by unidentifiable names.

They are Gargamel, Gordon Goner, Emperor Tomato Ketchup, and No Sass.

Yuga Labs is also the company behind the Mutant Ape Yacht Club and acquired CryptoPunks in March 2022.

In addition to this, Yuga Labs created the ApeCoin ecosystem.

The ApeCoin Foundation has representatives from cryptocurrency exchange FTX, blockchain-based technology company Horizen Labs, and social media platform Reddit.

They will contribute to the sustainability of the ApeCoin project.
 
## What’s next for the Bored Ape Yacht Club? 

On Saturday, April 30, 2022, the Bored Ape Yacht Club team launched a new NFT collection which crushed the blockchain technology of Ethereum.

This collection was part of Bored Ape’s metaverse launch called Otherside.

The NFT collection comprised 100,000 land deeds specifically designed for the virtual world.

With the project's popularity, demand for a share of these land deeds exceeded supply.

With Ethereum still in the process of making a successful transition from proof-of-work (POW) to proof-of-stake (POS), the network could not handle the load.

As a result, the gas fees, which reached new high lows in 2022 thanks to the EIP-1559 upgrade (London Hard Fork), skyrocketed to record highs. Many users paid thousands of dollars in fees, but their transactions could not go through.

The NFT distribution came in two waves. The first 100,000 lands were sold to new users and some of them were airdropped to holders of BAYC and MAYC.

The other 100,000 lands would be given to users who would make effective contributions to the development of the Otherside.

Concerning the first 100,000 lands, 30,000 were airdropped, and 70,000 plots were sold to new and existing holders of BAYC and MAYC.

For starters, each plot of land cost $5,846, which was the equivalent of 305 APE at the time of sale. The 70,000 lands sold within a few hours and netted Yuga Labs about $420 million, which will be reinvested into expanding the ApeCoin ecosystem.

Like BAYC, Otherside land price has skyrocketed from more than $5,000 to over $20,000 in May 2022.

## Conclusion 

Is now the time to consider becoming a Bored Ape NFT holder? Although the BAYC digital collectibles started small, it has brought in more than $1.9 billion in sales.

There are more than 300 unique buyers monthly, and the average sale value has soared from $213.39 in April 2021 to $308,497 in the same period in 2022.

Being a BAYC holder makes you eligible for ApeCoins and plots of land that could sell for thousands of dollars.
There are many ways of taking a stake in the bored Apes project.

If you cannot afford one BAYC or a plot of land on the metaverse, perhaps you could consider investing in ApeCoin.

The token trades below $50 and with the expansion of the ApeCoin ecosystem, the token could reach new milestones and bring you enormous returns in the short, medium, or long term.
 
 
 
 
 
 
 
 
 
 
 



Bored Ape NFT: A Year in the Life

#M,
[Bored Ape Yacht Club](https://boredapeyachtclub.com/#/) is a successful NFT project, but has experienced cybersecurity flaws that continue to mire the decentralised finance space.

## What happened?

Bored Ape Yacht Club, through its Twitter handle, @BoredApeYC tweeted that there would not be any kind of minting on Monday, April 25, 2022. Representatives of the project asked holders not to mint, click or link their wallets to anything related to the Bored Ape Yacht Club project. This came after the project's Discord server and Instagram accounts were hacked due to a mint link sent out to followers of the digital collectibles by third parties.

## Why does it matter?

Through its partnership with Animoca Brands, Bored Ape Yacht Club will be launching its metaverse called "Otherside" on Saturday, April 30, 2022. With such an opportunity in sight, the hackers sent fraudulent links to users that they could "mint land" in BAYCs metaverse on or after the launch of the Otherside.

Users who were unlucky and clicked on this fraudulent link have seen their wallets compromised. What’s more, a series of Mutant Ape Yacht Club (MAYC) and Bored Ape NFTs have been transferred to the new wallets held by the hackers.

Based on the OpenSea transfers, it is estimated that around 30 Mutant Apes and 24 Bored Apes have been stolen.

This has a value of some $13.7 million, based on the floor prices of the 54 NFTs.

This number may have been inflated by holders transferring some of their Mutant Apes and Bored Apes for security reasons.

As of writing, Instagram and the company behind BAYC and MAYC, Yuga Labs, are still trying to determine how such a secured project was finally compromised.

## What's happening at the Bored Ape Yacht Club?

Bored Ape Yacht Club is the third-most successful NFT project based on sales volume after Crypto Punks and Axie Infinity.

With more than $1.8 billion in sales, BAYC is followed closely in fourth place by its sister project, the Mutant Ape Yacht Club (MAYC), which has raked in more than $1.3 billion in sales.

ApeCoin, seen as the native asset behind the Bored Apes project, is airdropping 150 million APEs to Mutant Ape and BAYC holders.

Users stand a chance of claiming up to 10,950 APEs if they hold BAYC. Users who hold the Mutant Ape Yacht Club also stand a chance of claiming 2,042 APEs.

Bored Ape Yacht Club is a non-fungible token (NFT) collection of 10,000 unique bored apes that live in the blockchain of Ethereum.

More [NFT news](/news/category/nft-news).


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