- BAYC NFTs are one of the most popular projects and are considered one of the most expensive NFTs.
- Digital identity and accompanying commercial usage rights made the concept more popular in the digital asset market.
BAYC is a group of 10,000 Unique Bored Ape NFTs on the Ethereum blockchain. The concept is simply a graphical representation of cartoons such as Ape that are particular by their metadata and involves characteristics like backgrounds, eyes, fur, clothes, and earrings. The concept is emerging as one of the most popular NFTs worldwide, and the price of the Apes hiked.
What is BAYC?
BAYC was developed by Yuga Labs in February 2021 and houses around 10,000 collectible NFTs, and is stored as ERC-721 tokens on the Ethereum platform. Initially, the NFTs were provided on a first-come, first-served basis at the price of $190 or 0.08 ether, later shifted to the secondary market.
Bored Ape #8817, worth $3,408,000, and #3749, worth $2,907,016, are some of the most popular and valuable BAYC in the marketplace. Bored Ape #7090 is among the rarest BAYC, appearing around 46 times out of 10,000 in the collection.
The price of BAYC at present is approximately $69,502.61, and most of the NFTs were once sold for $3.4 million.
How to buy and sell BAYC NFTs
2021 was the year of NFTs, and tens of billions of dollars have been transacted in space. BAYC involves aspects of the community, social capital, and exclusivity to develop a major NFT project. There are some basic steps an individual needs to follow to buy or sell the BAYC NFTs. An individual must have an online account that can be opened from a trading platform. Gemini Trust Co., eToro, Webull Financial LLC, and Coinbase Global Inc. are common trading platforms that can be used to open accounts. Having a crypto wallet and sending ETH to Metamask will help individuals buy and sell BAYC NFTs.
What makes BAYC expensive?
The entry price for BAYC was around $400,000 when NFTs were at their hottest. The value of BAYC has declined by 3.90% in the last seven days, but still, the NFT is one of the most popular and most valuable NFTs in the marketplace.
BAYC is a well-known and respected NFTS group with an active owner community. The concept is endorsed by celebrities like Jimmy Fallon, Stephen Curry, and Morgan.
The NFTs can be used to get exclusive events and experiences and different digital assets, including accessories and clothing. Another factor boosting individuals’ interest in BAYC is its continuous evolution. The BAYC team continuously worked on the concept to add new and unique features. The evolution aims to offer unique and outstanding experiences to the owners.
Simply, the never-ending discoveries in the NFTs that feed the curious minds of individuals play a vital role in the popularity of BAYC.
Conclusion
BAYC is a unique bored Ape available on the Ethereum blockchain and was developed by Yuga Labs in February 2021. The concept offers a group of 10,000 Unique Bored Ape NFTs to enhance the experience of individuals with different types of digital assets, including accessories and clothing.
