2022, the year of the NFT
What’s the big deal with NFTs?
If you’ve been paying attention to crypto in the last year, then you already know –
2021 was the rise of the “non-fungible token” (NFT). Adding to an already incredible rise in popularity for Bitcoin and Ethereum, the crypto industry added a cool 22 billion dollars in volume last year, thanks to an exploding digital art scene with the latest blockchain innovation at the center of it – the NFT.
A “non-fungible token” is an asset created on a blockchain with a digital signature
that proves its originality and authenticity, which solves a historically major hurdle
for art & collectibles. While one could argue that digital art is too easily copy/pasted, original artworks have always fetched multiples higher than their replicas – no matter how indistinguishable the replica may be.
Enter the NFT, a technological innovation that allows art to be minted onto a blockchain, forever proving its authenticity, while preserving its ownership and sales history on a public record.
Crypto’s newest pioneers are... apes?
Just as crypto finance has followed the lead of its most successful household names like Bitcoin and Ethereum, the entire NFT industry has been drafting off the innovations of Yuga Labs’ “Bored Ape Yacht Club”, which has quickly established itself as one of the most coveted collections in the space.
Members of the Bored Ape Yacht Club can join simply by purchasing one of the ape portraits that belong to the collection, each with its own personality. And who wouldn’t want to be a member of this exclusive group, and join the likes of Jimmy Fallon, Steph Currey, Post Malone, and Eminem? There’s just one tiny catch – the cheapest BAYC NFT at the time of writing is currently listed for 68 ETH, or a little over $250,000.
To expand their community even further, each BAYC member was given a serum that they could apply to their digital ape, and the Mutant Ape Yacht Club was born – which enjoy the majority of the same perks as owning an original Bored Ape, per their roadmap here.
Mutant Apes were selling for as little as $10,000 at the time of their first launch in August and have steadily risen to their nearly $50,000 floor price today, with no signs of slowing.
A New Meta For The Metaverse
Communities like the Bored Ape Yacht Club have already started building on top of this new paradigm for club memberships, both online and offline. From private “Ape Only” parties in NYC, to exclusive performances from celebrities like Lil Baby (who’s a BAYC member himself), this exciting new way of gating access to perks & privileges is already redefining the way we think about community.
For a chance to win our beloved Mutant Ape Yacht Club NFT, click here!