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    What is Bored Ape Yacht Club?

    Bored Ape Yacht Club (BAYC)

    The Bored Ape Yacht Club (BAYC), or just Bored Ape, is a non-fungible token (NFT) collection based on the Ethereum network. Profile photos of cartoon apes are procedurally created by an algorithm in this collection.

    Yuga Labs is the parent business of Bored Ape Yacht Club. On April 23, 2021, the project began with a live pre-sale. An exclusive online club, special in-person events, and intellectual property rights for the image are available to owners of a Bored Ape NFT.

    The Bored Ape Yacht Club NFTs have sold for nearly $1 billion as of 2022. These non-fungible tokens have been purchased by a number of celebrities, including Justin Bieber, Jimmy Fallon, Snoop Dogg, Madonna, Paris Hilton, and DJ Steve Aoki.

    How does the Bored Ape Yacht Club NFT function?

    The NFT collection was created by four guys who “went out to make some dope apes, test abilities and try to build something (crazy),” according to the website of the Bored Ape Yacht Club (BAYC). Bored Ape NFTs, like other NFTs, made and utilized for digital art, aim to offer “original” artwork to its owners. Owners of Bored Ape NFTs are said to have “a unique unit of data recorded in a digital blockchain, which maintains its provenance or sales history eternally.”

    The collection, which is hosted on the Ethereum blockchain, has 10,000 unique NFTs derived from 172 different assets. The NFTs can serve as a Yacht Club membership card. The BATHROOM (stylized in all caps), a digital graffiti board, is available to club members. The NFTs were initially auctioned for 0.08 ether each, or roughly $190 at the time of its April 2021 launch, and sold out in less than 12 hours.

    Bored Apes vary from other NFTs in that “whoever owns a Bored Ape can spin it into whatever film, music, TV, book, or media product they desire,” as BAYC “has made it clear that NFT holders have complete commercialization rights to their ape.”

    Founders of Bored Ape Yacht Club NFTs

    Under the pseudonyms “Gargamel” and “Gordon Goner,” two of BAYC’s founders define themselves as “literary bros.” According to The New Yorker, the two first became friends through debating David Foster Wallace’s work. “They used Austrian-British philosopher Ludwig Wittgenstein’s idea of the unutterable to describe [Bored Apes],” according to a CoinDesk interview. In Miami, the two of them grew up together. “No Sass” and “Emperor Tomato Ketchup” are the pseudonyms of the other two founders. The latter got his moniker from the same-named Stereolab record from 1996, which was inspired by the 1971 film.

    Under the pseudonyms “Gargamel” and “Gordon Goner,” two of BAYC’s founders define themselves as “literary bros.” According to The New Yorker, the two first became friends through debating David Foster Wallace’s work. According to a CoinDesk interview, “They used Austrian-British philosopher Ludwig Wittgenstein’s idea of the unutterable to describe [Bored Apes].” In Miami, the two of them grew up together. “No Sass” and “Emperor Tomato Ketchup” are the pseudonyms of the other two founders. The latter got his moniker from the same-named Stereolab record from 1996, which was inspired by the 1971 film.

    No Sass and Emperor Tomato Ketchup, two of Solano and Aronow’s buddies, were brought in to handle the blockchain coding. The latter two were computer science experts, having studied the subject at the same university as Solano; nonetheless, they “weren’t crypto-savvy,” having written their first lines of Solidity code, a smart contract programming language, in February 2021.

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