Why does people so fascinated by the Bored Ape Yacht Club floor price history

More and more people are fascinated by the BAYC floor price history recently. Please close your eyes and imagine a yacht club full of social elites. Thousands of cartoon apes gather inside to discuss the latest science fiction novels they have just read and share the techniques of NFT art collection... this is The latest world made up of encrypted tokens-welcome to Bored Ape Yacht Club!

Bored Ape Yacht Club is the latest NFT art project that was unveiled on April 30 this year. Within one day after its release, all 10,000 Bored Apes were sold out. Since its launch, Bored Ape Yacht Club floor price history had a unbelivable changed. Its transaction volume has exceeded 60 million U.S. dollars, and it ranks second in the NFT art collection of Opensea, the largest NFT trading platform. Currently, more than 5,100 people have been Trade Bored Ape.

The background of BAYC's story stems from the voice of many NFT collectors, "Every ape who devotes himself to the encryption field will have wealth and freedom."

BAYC was co-founded by four anonymous individuals. They entered the encryption circle early and witnessed the birth of classic projects such as CryptoPunks and CryptoKitties. BAYC did not cause a big sensation in the market at the beginning, but until May 1, the well-known collector Pranksy announced that he had purchased more than 250 apes, and BAYC sales, users, and transactions surged. After only 117 minutes, BAYC was sold out. In the following two months, BAYC received the attention of people in various industries. For example, NBA stars Curry and LaMelo ball, NBA chairman Daryl Morey.

Bored Ape Yacht Club floor price history has different stages. In the early stage of the project, BAYC NFT was sold at the same price, that is, the floor price of each ape was 0.08 ETH, and all users stood on the same starting line. Since the initial release period has passed, if you want to get a BoredApe avatar, you need to buy it on the secondary trading market Opensea. Which need to spend you around 40 ETH for one floor price’s BAYC NFT.

Since the issuance of BAYC NFT, its average price and transaction volume have shown an upward trend. From the end of May to the beginning of August, the average price rose nearly 28 times from 0.644 ETH to 24.8 ETH initially. The transaction volume increased from 35.45ETH to 2959.72ETH, and the transaction volume increased by more than 83 times. According to OpenSea, the floor price of BAYC NFT is currently 14.9 ETH, which is approximately US$40,000.

According to Non Fungible data, as of August 16, BAYC NFT had a transaction value of US$17.99 million in the last 7 days, and BAYC NFT sold 611 transactions in the last 7 days. The transaction value since its establishment was US$183 million. The number of times is 15501 times. It is worth mentioning that the average price and transaction volume have increased rapidly since August. On August 22, the average price reached the current peak of 29.07 ETH; on August 5, the transaction volume reached the highest value of 2959.75 ETH. From the perspective of the number of holding addresses: BAYC NFT issued a total of 10,000, the number of holding BAYC NFT addresses is 5,300, and a single address holds an average of 1.88 NFTs.

Bored Ape Yacht Club’s first batch of NFTs brought in more than $2 million in revenue. Since then, the transaction volume of the series has approached 100 million U.S. dollars, with the cheapest ape usually selling for nearly 14,000 U.S. dollars. In recent months, the project has inspired a wave of similar clubs and has sparked a craze for NFT incarnations among cryptocurrency enthusiasts. Collectors can buy cute cartoon cats from Cool Cats. Cool Cats released thousands of their own NFTs on July 1, and they sold out quickly. (Mike Tyson has one as his Twitter profile picture.) They can buy angular sci-fi women from Fame Lady Squad, punk ducks from SupDucks, 3-D rendering pills from BYOPills, and The Doge Pound To meme-ready shiba inus and bonsai trees from Zenft Garden Society. New projects are launched every week, and their products are advertised on Twitter, the main public place for cryptocurrency discussions, hoping to sell out. “Everyone saw the success of Bored Apes and started quickly abandoning their own projects,” said Aleksandra Artamonovskaja, London founder of curatorial consulting firm Electric Artefacts, who has bought and sold many NFTs. "I pay for rent by trading jpeg pictures on the Internet. This is what I told my parents."

For most culturally-produced brands, whether it is Supreme streetwear, Marvel superheroes, or pop music, the free circulation of intellectual property rights is prohibited; exclusivity is a business model. In contrast, the founders of the Boring Ape Yacht Club regarded their openness as an asset. This is also the reason attracting people to care about the Bored Ape Yacht Club floor price history. "Anything that people create with their apes will only grow the brand," Goner said. Just as Silicon Valley startups are obsessed with "scalable" software, they are growing exponentially in order to serve more users. The goal of NFT clubs is a scalable culture; like open source software, their cultural creation can be organic through the efforts of many users To expand while maintaining recognizability, thus forming a kind of user-generated myth. Dom Hofmann, the co-founder of the now-defunct social network Vine and the creator of an NFT club project called Blitmap, told me,“This idea has a lot of unknowns. In general, over time Over time, fans may know what is best for the universe they care about." Investor Austin envisions Bored Ape Yacht Club as a potential "decentralized Disney" in the future.