The project is a collection of 10,000 unique Bored Ape Tokens, and each Ape acts as a membership card to their exclusive collaborative art experiment called the “BATHROOM.” Each Ape is made up of 170 random traits and attributes, making some rarer than others.
“The Bored Ape Yacht Club is a collection of 10,000 unique Bored Ape NFTs— unique digital collectibles living on the Ethereum blockchain. Your Bored Ape doubles as your Yacht Club membership card and grants access to members-only benefits, the first of which is access to THE BATHROOM, a collaborative graffiti board. Future areas and perks can be unlocked by the community through roadmap activation. Visit www.BoredApeYachtClub.com for more details.”
The project exploded over the weekend; within a blink of an eye, all 10k apes were sold out. This explosion was unexpected; the story for many people is that they went to bed not knowing what this was and woke up to see a new project that exploded and sold out.
WE JUST SOLD OUT— Bored Ape Yacht Club (@BoredApeYC) May 1, 2021
The Ape hype seemed to have come from many big influencers and flippers that bought them up. One example of a big influencer drawing in all the hype is Pranksy. He is now the largest owner of Bored Apes with more than 1,200 Apes. It’s also worth mentioning that Jimmy, who started a lot of this hype, is the second-largest owner of Bored Apes with a little less than 400 Apes.
I just grabbed 250 @BoredApeYC thanks to @j1mmyeth, 10,000 limit, no horrible fomo pricing strategy, each ape is .08 ETH, + they look great :Dhttps://t.co/AKcGxtyJa8#NFTs— Pranksy 📦 (@pranksyNFT) May 1, 2021
You can mint them here: https://t.co/8jXxs2eeY1 pic.twitter.com/Y1kAYwlhlZ
Not only did the primary market explode, but so did the secondary. Just today, we saw an Ape sell for 21 ETH.
Overall this is a great project with great marketing, which allowed it to sell out so fast. The only concern that comes up like all projects that explode out of nowhere is longevity. But this concern is coming from a person that was asleep during the buying and missed out.