Since bursting onto the scene in April 2021, one NFT collection has redefined the very fabric of what it means to be a digital community, becoming a global phenomenon that intertwines art, technology, and culture in unprecedented ways.
That collection is the Bored Ape Yacht Club.
The Bored Ape Yacht Club (BAYC) stands out not just for its striking artwork, but for its rapid rise to the pinnacle of the NFT industry, its colourful community, and its many trials and tribulations to date. Bored Ape NFTs have become highly-desirable status symbols, held by blockchain heavyweights and celebrities alike – but why are they so special, how did they become so popular, and why do they continue to capture headlines worldwide?
Here’s our complete 2024 guide to the Bored Ape Yacht Club.
What is Bored Ape Yacht Club?
Bored Ape Yacht Club is a collection of 10,000 cartoon-style NFT apes minted on the Ethereum blockchain. Created by Yuga Labs, these Apes are algorithmically generated from a vast array of traits, such as clothing, hats, accessories and more, making each one distinct in appearance and rarity.
Holders of Bored Ape NFTs join an exclusive club, with members enjoying a range of unique perks. These include access to members-only online spaces, exclusive merchandise, in-person events – such as the annual ApeFest – and access to their growing portfolio of additional NFT collections and products, such as Mutant Ape Yacht Club, the Otherside metaverse and more.
Collectors of Bored Ape Yacht Club NFTs are also granted the commercial rights to utilise the image of their Ape however they would like. This has led to a vibrant ecosystem of derivative brands – many supported by the official Made by Apes initiative – including the Bored & Hungry restaurant in Long Beach, Forever Apes, Bored Goods and many more.
Bored Apes have attracted attention from many high-profile celebrities, including Eminem, Snoop Dogg, Jimmy Fallon and more. Many of them have either set their Bored Ape as their profile picture on social media apps, or use their ape in prominent mainstream media, which has gone a long way in boosting their visibility, appeal and prominence.
The history of Bored Ape Yacht Club
BAYC minted on April 30, 2021, priced at 0.08 ETH each – roughly $190 USD at the time. Initial sales were modest, until prominent NFT collector Pranksy purchased several Apes and promoted them, leading to all 10,000 NFTs being purchased within 12 hours.
As NFTs exploded into mainstream popularity in late 2021 and early 2022, Bored Apes rose to become the 2nd most valuable NFT collection in the world – only behind CryptoPunks – and is a spot they’ve maintained to this day.
Bored Apes hit their all-time high on May 1, 2022, with a floor price of 128 ETH – roughly $360,000 USD at the time. Individual BAYC NFTs have sold at much higher prices, including in high-profile auctions at Sotheby’s and Christie’s, with the biggest being the sale of Bored Ape #8817 in October 2021 for $3.4 million USD.
The success of Bored Ape Yacht Club has seen creators Yuga Labs mint a number of related NFT collections since, including Bored Ape Kennel Club in June 2021, Mutant Ape Yacht Club in August 2021, and Otherdeed NFTs for the planned Otherside metaverse in April 2022.
The ApeCoin DAO – a decentralised governance framework that supports the Bored Ape ecosystem – was formed in early 2022. This led to the release of the ApeCoin ($APE) cryptocurrency token in March 2022, providing another vehicle for Bored Apes to continue their growth.
These achievements have also allowed Yuga Labs to expand outside of NFTs. There’s the aforementioned Otherside metaverse – which as of writing, is still in its members-only testing phases – endless runner game Dookey Dash in January 2023, and their famed ApeFest events – an annual convention for Bored Ape holders.
This expansion has included the acquisition of other major NFT collections. Larva Labs’ CryptoPunks and Meebits collections entered Yuga ownership in March 2022, Beeple’s 10KTF was acquired in November 2022, and the entire PROOF Collective – including the likes of Moonbirds – was purchased in February 2024.
It hasn’t all been sunshine and rainbows. Bored Apes biggest challenge came in the middle of 2022, when artist Ryder Ripps created the copycat RR/BAYC collection. This was met with a lawsuit from Yuga Labs, which spurned wild speculation from Ripps that Bored Apes contained coded racist imagery and “neo-Nazi dog whistles” – leading to a court case that was eventually settled in Yuga’s favour in 2023.
What’s next for Bored Apes?
As 2024 draws to a close and we enter 2025, all signs point to Bored Ape Yacht Club retaining its position as one of the most prominent NFT collections in the world.
The Otherside metaverse – where Bored Ape holders can interact, play games and participate in large-scale events – continues its developments, with ever more regular testing events being held in recent months.
ApeChain – a purpose-built blockchain for the Bored Ape community – has been in the works for the best part of 2024, with 2025 looking to be the year in which its core features – such as native yield, one-click onboarding and Apple Pay integration – go live.
Finally, Bored Apes recently struck a partnership with car manufacturer BMW, which included both an exclusive merch line and the release of the first ApeCar – a BMW 2 Series Gran Coupe with a custom BAYC livery, available to 1 lucky member of the community.
Bored Ape Yacht Club has become much more than a simple NFT collection – it’s become the face of the NFT industry. With its growing list of partnerships, experiences, products and more, BAYC has become one of the most adored, respected and honoured NFT collections in the world – and we’ve got a feeling that they’re only just getting started.
