The Rise of “Yuga Universe”
While some people may question the artistic value of these NFTs, the high prices paid for them show that they hold some significance for the buyers. For many, the Bored Ape Yacht Club NFTs are rare and expensive, reminiscent of the exclusivity of the virtual world.
This phenomenon has also led to the “fear of missing out” (FOMO) for investors and business leaders - all started when NBA star Stephen Curry changed his Twitter profile picture to a blue-furred, brown-suited ape. He bought the image for 55 Ethereum, worth around $18,000, and that’s when people started wondering about the ape’s significance and value. Soon, other celebrities and musicians, including Shaquille O’Neal, Neymar Jr., and Jay Chou, followed suit, holding NFTs of their own Bored Ape avatars.
The project behind the Bored Ape Yacht Club is more than just the creation of these NFTs; it is a team that focuses on making the ‘Ape IP’ a crossover success, stepping out of the niche circles of NFT and Web3. The team hired artists and animators to create 3D versions of the apes, forming a virtual band called KINGSHIP. The apes also appeared on the cover of Rolling Stone magazine’s first NFT issue alongside singer Billie Eilish.
The Bored Ape Yacht Club’s marketing strategy resembles that of multi-channel networks (MCNs) for YouTubers and TikTokers. The team works with cryptocurrency influencers and key opinion leaders to promote the ape series on social media. The Bored Ape Yacht Club also partnered with a fashion brand to produce clothing and accessories with the ape’s design. This collaboration makes the ape image accessible to the masses, instead of just a toy for the rich.
The community operation of BAYC is primarily driven by its owners(community members), who share their passion and interest in these unique digital artworks, aiming to promote a close-knit social network within the community, increase the recognition and value of Bored Ape NFT, and promote NFT art and blockchain technology. Here are some details explaining the community operation of Bored Ape NFT:
Community hub: The community hub of Bored Ape NFT is mainly on Discord and Twitter. Discord is an online chat platform for gamers and communities, serving as the primary platform for communication and interaction within the Bored Ape NFT community. Twitter is the primary platform for promotion and outreach.
Community events: Bored Ape NFT community organizes various types of events such as virtual exhibitions, concerts, contests, and other forms of gatherings. These events aim to foster communication and connection within the community and increase the recognition and value of Bored Ape NFT.
Community governance: Bored Ape NFT community adopts a decentralized governance model, where owners can participate in decision-making and management. Community members vote to decide how to handle various affairs such as fund management, community rules, and other important decisions.
Community development: Bored Ape NFT community is committed to continuous growth and expansion. The community regularly releases new works and collections, collaborates and interacts with other NFT communities. The community is also dedicated to promoting NFT art and blockchain technology to increase people’s awareness and understanding of NFT.
