Surely, you’ve seen this artwork of an ape with a bored expression floating around the internet in the last year, and it’s been selling like hotcakes on the NFT scene.
What is Bored Ape Yacht Club (BAYC)?
The Bored Ape Yacht Club (BAYC) is a group of 10,000 NFT Apes, each with its own set of characteristics. Because some features are rarer than others, collectors place a higher value on them. As a member of BAYC, you gain exclusive access to upcoming collections and other privileges by purchasing an Ape.
With the help of an airdrop, BAYC holders have been able to convert their Apes to Mutant Apes. The mutants have also been offered for purchase in a public sale for 3 ETH each. Original BAYC Ape owners were also given the opportunity to mint a Club Dog NFT as complimentary. A royalty fee from secondary sales was contributed to animal organizations by the club.
The aim to create a universe and exclusive club behind NFTs have contributed to BAYC’s success. BAYC has sustained the anticipation and a somewhat high floor fee through videogames like the Mutant Arcade, philanthropic activities, and club privileges.
The artist behind the BAYC logo
This has been dubbed one of the world’s largest NFT projects, and it only came to light in May of last year, with each artwork fetching millions of dollars. What’s astonishing is that Seneca, a 27-year-old Asian-American artist who designed the main chimp character and brought it to life, received very little credit or acclaim for it.
She finally realized it after searching for the name months after it was created. All of this was revealed in an interview with Rolling Stone.
She produced the piece after meeting Nicole Muniz, a creative agency who saw her undergraduate portfolio and was impressed by her technique. Muniz introduced her to a variety of businesses, including the Bored Ape Yacht Club, which was formed by a boyhood friend of Muniz’s (who also had Muniz onboard as an advisor). At the time, the NFT trend was experiencing its first major upswing.
Concept of the BAYC logo
Seneca didn’t know what NFTs were at the time, but Yuga Labs, the firm behind them, gave her a lot of leeway in designing the classic figure. She added that while drawing the ape, she had in mind “an ape who is kind of cynical and bored with life but has all the wealth and time in the world and hangs out at a metal bar.”
Other creators took care of the ape traits and surroundings to put it in lighthearted settings as they desired. Seneca wasn’t the only artist on the project — she was the chief artist behind the original set — while other creators took care of the ape attributes and surroundings to put it in fanciful settings as they desired. However, Seneca was the one who came up with the basic structure, as well as the ape’s personality. It was her idea.
Seneca’s claim for credits
Despite the multi-million-priced ape NFTs’ fame, she expressed regret that few people know she created them, which she thinks is bad for an artist. She also stated that, while she was unable to provide financial details, her salary was not ideal. The only positive aspect is that word of mouth has grown as a result, and she wants to find more partnerships in the future.
Seneca’s NFT – Iconoclast
She even debuted her own NFT series as a portion of the Iconoclast collections at Miami’s Art Basel, where she auctioned four of her pieces created on Ethereum for 23.7ETH (about $84,000). She claims it’s enough to cover her expenses and keep her afloat until her next series, which is set to premiere in February.