New cryptocurrency technologies seem to be doing much better than crypto coins. NFTs are the thing, therefore, ‘Is Bored Ape Yacht Club a Good Investment?’
Bored Ape Yatch Club
This collection of “bored apes” art pieces was created with 170 unique traits earlier in February by Yuga Labs LLC. NFTs are collectibles created programmatically and stored as ERC-20 tokens on the Ethereum Blockchain. The NFTs are Bored Apes, and there’s no symbolic crypto meaning behind the name.
Each Bored Ape piece of Artwork serves as a membership card to the Yacht Club. Members can also access the “Bathroom wall”, a digital graffiti board, and even adopt a virtual dog.
Investment
The Bored Ape Yacht Club is an excellent investment. Several reasons, like its unique pieces of boring artwork and its limited supply, make it a worthy investment.
Unique Pieces of Artwork
The BAYC consists of unique pieces of Artwork showing different Bored Apes, each with 170 unique traits. Art is a special form of expression of human traits and the universe.
Limited NFT Supply
There are 10,000 different NFTs of the BAYC, which is a maximum of the total NFTs created. The NFTs launch was for $1500 and rose to 3.5365 ETH on the 9th of August. The current price is $71,000. The market has an optimal trading volume of about 65 000 ETH. The most expensive Bored Ape is #7345 was sold for 18. 5 WETH. In September, however, the Ape sold for 740 ETH, that is, $2.9 million.
Art triggers the human mind to an unexplainable state. The human connection to Art is so in-depth that human beings cannot resist the urge to buy pieces of art, especially intriguing ones. Bored Ape Yacht Club has unique pieces of artwork leaving one wondering what the creators were thinking of during creation.
It is a pure expression of art that mimics human boredom but in a more expressive manner. It is hilarious and exciting to look at the apes because they are Bored. Most of the cryptocurrency community connects to the artwork because most work online and can relate to the periods of boredom you go through while working or trading.
Bored Ape Yacht Club Shares
Rally Rd recently made a launch of Bored Ape Yacht Club Shares with Cryptopunk number #9679 worth $72,000. However, this is simply a launch, and you can purchase shares of the Bored Ape Yacht Club for as little as $10.
Billionaire Art Lovers
The crypto space has made many people billionaires and will continue to. This is simply a start. It is good that it is now inclusive of Art Lovers. The crypto space is unpredictable, but the truth is the opposite for NTFs, which seem to only gain value. NFTs are here to stay; Bored Apes Yacht Club is a worthy investment because the returns yielded within a few months are more than any stocks company combined.