How to buy ape nft: Bored Ape Yacht Club NFTs Explained

How to buy ape nft

These properties are displayed on OpenSea, the main platform where NFTs are traded. On any given NFT’s page, its properties will be listed as well as the percentage of NFTs in the collection that share the property. For instance out of 10,000 apes only 46 have solid gold fur, making these particularly valuable. In essence, an NFT is like a certificate of authenticity for a fancy watch or the deed to a house.

You should start the first step of buying Bored Ape Kennel Club NFTs with an online account. Buyers must purchase ETH by using a crypto exchange such as Gemini or Coinbase. Make sure that you wait for a few days after purchasing ETH on the exchanges, thereby ensuring that you can send it off the exchange.

  • The cheapest ape with gold fur goes for more than $2 million, while cheaper apes sell for around $300,000.
  • Is it another Bored Ape derivative project tailored as a pump and dump scheme?
  • For example, out of the 10,000 NFTs in existence, only 46 boast solid gold fur.
  • The token also exists to incentivize third-party developers to participate in the APE ecosystem by building applications that incorporate ApeCoin.

After fuelling up your crypto wallet with the desired amount of ETH required for the Bored Ape Kennel Club NFTs, you should connect the wallet to an NFT marketplace. Browse the NFT marketplace and try to find the NFTs which suit your preferences. Over the course of time, Bored Ape Kennel Club NFTs gradually fell back into the shadows of Bored Apes and Mutant Apes. However, Bored Ape Kennel Club still enjoys a prominent reputation in NFT marketplaces such as OpenSea. The following discussion aims to offer you a brief introduction to Bored Ape Kennel Club NFTs and their history. Most important of all, you can figure out the suitable best practices for buying BAKC NFT in the following post.

Can I Make My Own Bored Ape Yacht Club NFT?

The higher the floor price on a collection, the more crypto-rich traders you can expect to be holders. These savvy investors trade information within locked Discord groups, providing valuable (sometimes insanely valuable) tips to one another. As noted, the “floor price” for the project — what you’ll pay for an ape with common traits — is currently about $150,000 (85 ether). Apes with the golden fur trait are rare, and so sell for much more. Another with gold fur and laser eyes, two sub-1% traits, went for $3 million.

How to buy ape nft

It took 12 hours for all 10,000 to sell out at a price of $190 (0.08 ether). The price of Bored Ape NFTs rose steadily until July, when they spiked dramatically and the collection became a blue-chip set. Some people think they’ll revolutionize the internet, at last allowing digital goods to be bought and sold like real-world, physical products. The premise of the BAKC was that every ape needed a companion and each member of the BAYC received a free Kennel club NFT. The Mutant Ape Yacht Club was released on August 24, 2021, with the same premise.

How to Buy Bored Ape Kennel Club NFTs?

Unlike traditional brokerage firms, cryptocurrency exchanges are not members of the Securities Investor Protection Corp. (SIPC). Finally, make sure to transfer your APE tokens from the exchange to your personal, non-custodial crypto wallet that supports ApeCoin. By securing your tokens in your own wallet as opposed to on an exchange, you can avoid losing your assets in case of an exchange bankruptcy or a hack. Once you have funded your account, you click on ApeCoin in the list of tradable assets and place an order to buy the amount of APE you would like to purchase. Verify that all the order details are correct and confirm the transaction. As soon as your order is filled, you will receive the APE tokens on your exchange account.

As the DeFi industry continues to grow, Bored Apes and Mutant Apes have become increasingly popular. The floor price for these assets have grown exponentially since their release with no signs of slowing down. Mutant Apes along with the original BAYC collection were created by the anonymous Yuga Labs team. Although the team prefers to stay anonymous, the founders identity is now public information, thanks to a Buzzfeed leak earlier this year. While prices have risen dramatically in the past several months, they could crash at any moment.

If you put a bid on a piece and it is accepted, the owner will pay the gas fee. Mutant Ape Yacht Club is a derivative collection of the infamous Bored Ape Yacht Club project on the Ethereum network. These Mutant Apes are created by exposing a Bored Ape to the Mutant Serum or by minting a mutant Ape during the public sale. MAYC is a collection of up to 20,000 unique Apes with roughly 18,000 currently minted. There is also a digital board created by BAYC called “the bathroom.” The bathroom is a digital drawing board, where ape owners can draw anything they want.

Needless to say, the event was an extravagant flex on the crypto world. The art for BAYC is cartoonish apes with pronounced features and outlandish characteristics. Some think the art is childish, while others say it belongs in the Louvre. Either way, the apes are a status symbol to many in the blockchain community.

You have a set amount — usually between 5,000 and 10, which all have the same template, but each has different attributes that make them unique. In the case of BAYC, there are 10,000 apes, each with varying fur types, facial expressions, clothing, accessories and more. Each attribute has a rarity component, which makes some much more valuable than others. Like everything else to do with NFTs, the Bored Ape Yacht Club is contentious.

During the height of the NFT boom in 2021, Bored Ape emerged as one of the most popular NFTs, with rare Apes selling for hundreds of millions of dollars. The second largest perk to holding a MAYC would be the aspect of being a community member. Holders become part of exclusive communities with other famous celebrities. Not only this, but members of the club (both MAYC and BAYC) will be able to earn tokens in Bored Ape Yacht Club’s upcoming play-to-earn blockchain game. What was once minted for 3 ETH is now currently trading at over 14 ETH with a remarkable all-time high of above 40 ETH.

How Much Does a Bored Ape Yacht Club NFT Cost?

The additional royalty in the trading fee served as contributions in donations to no-kill animal shelters. Interestingly, the additional trading fee has been removed, and you can find only the 2.5% transaction fees imposed by OpenSea. Before you invest your time and effort in trying to find “How to buy BAKC NFTs,” it is important to know the background of the collection. As of now, BAKC non-fungible tokens have been around for only a year. Yuga Labs, the team behind Bored Ape Yacht Club, released the Bored Ape Kennel Club NFT collection. The last date for minting the Bored Ape Kennel Club NFTs on June 25, 2021, turned out to be the first date people witnessed the dogs in the collection.

It certifies that the digital asset — in this case a cartoon picture of an ape — is legitimate, and denotes who the owner is. For investors, ApeCoin provides investment exposure to the Web3 ecosystem built on the Bored Ape brand. Apart from status and exclusivity, some invest in BAYC with the hopes of making a profit. As BAYC becomes more and more popular, the floor price, or minimum price an NFT is listed for, increases. Because of this, investors will purchase apes with the intention of selling them for a profit in the future.

How to buy ape nft

For example, MetaMask is one of the common options among software wallets. Users prefer MetaMask for the interface, which you can add as a browser extension. The wallet helps in interacting with various web3 technologies like NFTs, thereby driving plausible value advantages. The BAKC NFT collection is available for sale on many renowned NFT marketplaces. As of now, majority of trading volume for BAKC NFTs can be traced back to the NFT marketplace, OpenSea. Here are some of the simple steps which can help you find how to buy BAKC NFTs without any difficulties.

The first instance of minting BAKC NFTs started in the latter part of June 2021. BAYC holders could claim a dog by paying a specific gas fee for minting the NFT. The short answer is that they’re status symbols, and like all status symbols their value comes from perception and branding rather than utility. Just like a CEO may try to communicate business acumen with a Rolex or a luxury suit, people who trade NFTs display their success with a Bored Ape Yacht Club NFT. Decentralized exchanges are smart contract-powered online trading platforms that enable users to trade crypto on a peer-to-peer basis without the need for a central authority.

Each NFT has a unique address on the blockchain that can not be recreated or faked. This allows for proof of ownership amongst the community and invalidates any concerns of “screenshotting” the art for ownership. Notably, Mutant Apes are the 2nd and final collection to be part of the Bored Ape Yacht Club, offering holders exclusive benefits for owning the NFT. Members of the Yacht Club receive perks like the ApeCoin airdrop, metaverse land, and access to events in real life, such as Ape Fest. The first thing you must note other than “what are bored ape NFTs? ” would be the place where you can find them, i.e., NFT marketplaces.

Let’s take a look at the requirements to open an account on a crypto exchange. The first thing you need to do if you are looking to buy ApeCoin is to sign up for an exchange that supports the cryptocurrency. Currently, Binance, Coinbase, and Kraken are among the largest exchanges supporting APE.

Bored Ape Yacht Club assets are rare NFTs that are available on the Ethereum blockchain. They are Inspired by the ERC-721 standard, making them collector’s items and are highly sought-after by serious NFT investors. The project was created by four friends at Yuga Labs who stated they wanted to test their skills and build something. Not only did they succeed in creating a product that everyone wants, but they have generated additional hype by dropping additional NFTs to BAYC holders. Another perk that is often overlooked is the aspect of holding to make a profit.

In just a few short months, the apes have grown exponentially in value to where one sold in auction for $2.25 million. Metamask has to store your wallet information on the internet to make it easy to use the app which makes it less secure than a hardware wallet. However, at least it encrypts personal information and keys so it is still quite safe. Owning a Bored Ape NFT gives you full commercial rights to it, and holders are taking advantage of that in some creative ways.

Wait, what are NFTs again?

Bored Ape Kennel Club is more than a derivative of the Bored Ape Yacht Club NFT collection. Users can even expect staking rewards with the NFT collection in the future. Above all, the utility and acceptance of NFT collections such as Bored Ape Kennel Club can fuel NFT adoption. You can purchase a BAKC NFT in a simple procedure by using the “Buy Now” feature. Anyone who wants to buy Bored Ape Kennel Club NFTs would obviously find interesting options in making offers for NFTs.

These marketplaces typically use  escrow to enhance security, but it’s still advisable to only trade with users with high trust ratings. The first thing you will need to do when buying NFT digital assets is to create a web3 wallet using MetaMask, a Google Chrome extension. MetaMask allows you to easily (and safely) make crypto transactions. Mutant Ape Yacht Club is an NFT collection made by Yuga Labs, the creator of Bored Ape Yacht Club.

Each BAYC holder received mutant serums that allowed them to “mutate” their ape, creating unique NFTs without altering the original. If you buy a Mutual Ape NFT, you get to be 1 of 13,000 members in an exclusive group. Others find value in the perks like private New York City parties for Ape holders, and some people truly just want to purchase an NFT for the art itself. Mutant Ape Yacht Club NFTs, like many other projects, are entirely speculative investments.

Yuga Labs, the company behind the NFT collection, has already expanded the ecosystem to include a cryptocurrency (Ape Coin). Already it’s collaborated with brands like Adidas and Gucci, and last year a Bored Ape graced the cover of Rolling Stone magazine. Alternatively, you could deposit APE tokens on Binance to make use of Binance Earn accounts that enable you to earn yield on your ApeCoin holdings for a set period of time. While the yields offered are high, they come with the risk of leaving your funds on a centralized exchange, thus giving up control over your crypto. Crypto exchanges typically require you to make a minimum deposit, ranging from $10 to $20.