, 2022-04-28 02:00:00,
NFTs are a big business, with about $25 billion being spent on them in 2021. But despite all that money flying about, nonfungible tokens have yet to enter mainstream culture. Tens of millions have heard about NFTs, but only a fraction could describe what they actually are — . Yet if there’s one brand that’s transcended NFT culture, even in minor ways, it’s the Bored Ape Yacht Club.
You’ve probably seen one, even if you didn’t realize you were looking at a pricey NFT.
Bored Ape owners currently using their NFT as a Twiter profile picture include Timbaland (1.6 million followers), Eminem (22.6 million followers) and footballer Neyman Jr. (55 million followers). Jimmy Fallon and Paris Hilton are also BAYC holders, discussing their Apes in a (cringey) Tonight Show segment. Justin Bieber made headlines with his purchase of a $1.29 million Bored Ape Yacht Club NFT in February.
Since the launch last April at $200 (0.08 ether) each, the cost has skyrocketed: The cheapest you’ll find a Bored Ape NFT on OpenSea, the biggest marketplace for such wares, is $420,000 (145 ether). That ridiculous rise led to the NFTs being used as, first in the NFT space and then among celebrities too.
Yuga Labs, the company behind the NFT collection, has already expanded the ecosystem graced the cover of Rolling Stone magazine.. Beyond that, people holding Bored Ape NFTs are betting that the brand will completely breakthrough and go mainstream. Already it’s collaborated with brands like Adidas and Gucci, and last year a Bored Ape
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