The First Anniversary of BAYC: How Can BAYC Become One of The Best Investments of NFT

With the first anniversary of the boring ape man Yacht Club (BAYC), let’s recall how the NFT series became one of the greatest investments in the cryptocurrency world in 12 months. Five years ago, the unforgeable token (NFT) was an esoteric concept used by a few cryptocurrency enthusiasts, but this changed in 2021 and NFT entered the mainstream. Since then, this niche market has overturned many industries, especially the art and game markets.

Although hundreds of different NFT projects exist today, and each project tries to surpass other projects, several of them, such as the popular bored ape Yacht Club (BAYC), have changed the lives of some investors in a short time.

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Birthday of Bored Ape Yacht Club

On Saturday, April 23, 2022, marking the first anniversary of BAYC, some enthusiastic ape holders, such as Web3 enthusiast Chris judan, also known as captain Zwingli, reviewed the early stage of the NFT project and how it helped promote the development of “Web3 space” and became “a cultural phenomenon”.

In April 2021, Yuga laboratory launched the boring ape man yacht club as a collection of 10000 boring ape man NFTs. However, unlike other NFT projects using bond curve issuance (BCO), users participating in BAYC’s public coinage pay a flat price of 0.08 eth (about $190) for each ape.

According to captain Zwingli, the founder of BAYC decided to adopt a fair and unified price distribution to collect, which greatly promoted the success of the project in its early stage.

But before the public release, BAYC’s deployer contract cast the first 30 apes and distributed them to the founders and other active members of the Web3 ecosystem. The remaining 9970 ape men will be available for public coinage on April 23, 2021.

Interestingly, at some point, the reserve price of the series is about 40% lower than the mint price, and the cheapest boring ape trades at about 0.03 eth ($70).

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BAYC Soared 173 Times in One Year

In the week or so of the public event, all 10000 ape men were cast. Previously, the transaction price of one ape man in secondary sales was about 0.16 eth. At that time, the BAYC series began to gain the interest of cryptocurrency investors, and the price soared to the roof in the following months.

Soon after, mainstream investors, including popular celebrities and large companies, began to join BAYC, further promoting the popularity of NFT and floor prices.At present, the base price of BAYC series is 139eth, about US $403000, with a return on investment of more than 173600%. But in addition to the reserve price, the most expensive BAYC NFT, boring ape #8817, has a record transaction price of $3.4 million, while the transaction price of other rare and famous apes is as high as $2.3 million.