What is bayc based on?

The entirety of BAYC revolves around the storyline that in the distant future, these rich but bored individuals form an exclusive club and hang out in in a bar. Each ape-themed character in the NFT collection depicts the various personalities and traits you would most likely expect from a futuristic crypto club.

Who owns bored ape Yacht Club (bayc)?

That was until Yuga Labs came along. That's the company behind the $3 billion Bored Ape Yacht Club (BAYC) collection. Unlike most NFT projects before it, Yuga Labs introduced new and improved strategies for enabling engagement and building a sustainable NFT ecosystem.

Is bayc a 'bored ape' NFT?

In recent months, BAYC seems to have cemented itself into the internet’s financial landscape: Millions of dollars in Ethereum, a cryptocurrency used for buying and selling NFTs on platforms like OpenSea, have been spent on Bored Ape NFTs.

How does bayc make money?

BAYC makes money not just from the initial sale (approximately $2 million) of its NFT apes, but also from a 2.5% royalty on future trades. It has real-world licensing deals with the likes of Adidas and was involved in a concert event with Chris Rock and the Strokes.