What is the bored ape Yacht Club (bayc)?

The Bored Ape Yacht Club (BAYC) is arguably the most influential NFT project in the world. For nearly a year, it remained second to CryptoPunks in the race for the world’s . But as the start of 2022 came and went, the price of BAYC NFTs soared.

What is the bayc collection?

In short, the BAYC collection is an edition of 10,000 NFTs. There are generally two kinds of NFTs. There are standalone pieces of art, which are called “1/1.” These are a little like paintings in real life in that only one exists. Beeple’s “Everydays” Then there are “editions” like the Bored Apes.

Is bayc (bayc) on a downtrend?

According to data from CoinGecko, it has been on a downtrend since reaching an all-time high of 153.7 ETH on May 1. BAYC remains the biggest NFT collection by market capitalization, at 656,800 ETH— just above its nearest rival, CryptoPunks, with a total market cap of 655,000 ETH and floor price of 65.5 ETH.

What did bayc do Right?

Part of what the BAYC founding team did right was making the utility clear from the start. Subsequently, they kept their community interested — and individuals interested in buying their NFTs vis secondary sales — by continually offering more perks.