Since the rise of CryptoPunks in 2017, many NFT projects were born with the year 2021 as the culmination of this production. This was also marked by the launch of the collection The Bored Ape Yacht Club which was effective towards the end of April. NFT’s collection which is based on unique representations of monkeys quickly found success to the point of becoming a phenomenon on Twitter. The collection is now competing for first place in NFT sales with CryptoPunks.
What makes The Bored Ape Yacht Club a good project?
The collection The Bored Ape Yacht Club is successful because of its strong community and engaging artwork. Developed by Yuga Labs, the NFT project offers a unique aspect of membership and has established itself as a leader in the NFT avatar space. Have a Bored Ape as profile picture started serve as a membership in a particularly active community on Twitter.
In addition to exclusive community-only accessories, Yuga Labs plans to add other features to make users want to keep NFTs for the long term. The company has also donated a huge amount of money through The Giving Block platform to several charities. She gave $ 900,000 to Orangutan Outreach, whose mission is to protect orangutans in their native forests.
The process of buying an NFT from the collection can be summed up in three simple steps. The first is to create a digital wallet capable of interacting with the Ethereum blockchain. The most commonly used digital wallet is MetaMask due to its simple user interface.
Once the MetaMask wallet is connected and it contains enough ETH to purchase the NFT (transaction fees included), users have the option to buy and bid. Finally, the purchasing phase is done through smart contracts that allow the wallet to interact with the blockchain.
An NFT Bored Ape Yacht Club is it a good investment?
It is important to clarify that NFTs are highly speculative investments. However, many specialists already consider The Bored Ape Yacht Club like the second most important NFT collection in terms of notoriety after the CryptoPunks.
It is now undeniable that a strong community has developed around the project. Buying a Collection NFT could be a good investment because of the benefits that come with ownership and Yuga Labs’ promising track record.
Proof of the interest of collectors in the project, the floor price of NFTs Bored Ape Yacht Club finally overtook that of CryptoPunks. The creation of a token linked to the collection should also be effective during the first quarter of the year 2022 to give a new dimension to the project.
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Luc Jose Adjinacou
Far from having dampened my enthusiasm, an unsuccessful investment in 2017 in some crypto only increased my enthusiasm. I therefore resolved to study and understand blockchain and its many uses and to relay information relating to this ecosystem with my pen.