Founded by Young Labs, the Bored Ape Yacht Club officially launched on April 30th and holders continue to benefit from the project.
Getting access to a digital graffiti wall (called The Bathroom Wall) for instance, is one way these NFT holders benefit.
The Bored Ape Yacht Club recently dropped a new collection: The MAYC( Mutant Ape Yacht Club) also referred to as Mutant Apes.
What are Mutant Ape Yacht Club NFTs?
The Mutant Ape Yacht Club is a collection of 20,000 Mutant Apes. There are two ways to create the Mutant Ape NFTs; exposing an existing Bored Ape to Mutant Serum or minting the Mutant Ape.
Half of the total number of apes raised a total of $96 million through a public auction held last Saturday when half of the Mutant Ape Yacht Club NFTs got sold out.
The Uniqueness of the Mutant Ape Yatch Club NFTs
For an NFT to achieve success, the project needs to portray uniqueness, and BAYC has done just that. Bored Ape Yacht Club provides buyers with Serum Vials that allow the Apes to Mutate.
The serum vial works to generate a new Mutant Ape from a pre-existing Bored Ape meaning the original one is not altered. There are three types of Serum injections; M1, M2, and M3(Mega Mutant).
The Mutant Apes created with M1 & M2 serums will keep the original traits of the ape, while the ones with M3 will possibly acquire rare qualities.
“There are two ways to acquire a Mutant. The first is by MUTATION – exposing a Bored Ape to a vial of Mutant Serum. There are three tiers of Mutant Serum – M1, M2, and Mega Mutant. MUTATION will begin after the public sale concludes,” BAYC wrote on Twitter.
The second method was minting Mutant Apes during the public sale, where these Mutants remained unreleased until the public sale came to an end. This late unveiling ensured random distribution.
Are the Serums Available?
An hour after taking snapshots of all Bored Apes, the BAYC team airdropped 10,000 Mutant Serums to the holders. The original BAYC holders then created their Mutated Ape versions by exposing the bored Apes to the serum (this was after paying the gas fee).
After the public sale, serum prices hiked, with one holder paying 269 ETH for the serum vials.
It is important to note that the pixelated monkeys remain intact even after mutation and that once ingested, the serum thereafter gets burnt (hence the serum is used only once).
Starting at three ETH, the minimal price per NFT rose to and is currently at 25 ETH. So far, the project has raised a whopping $354 million.
Many celebrities are buying into the NFT world including Stephen Curry, a basketball superstar, who revealed that he owns one of the Mutant Ape Yacht Club NFTs and bought it for 180,000 USD.
Conclusion
The NFTs business is booming as projects sprout each week with some NFTs recording level highs as the Crypto market keeps progressing. Some of the NFT projects that have high gross income include; Axie Infinity, Cryptopunk, NBA Top Shot, and Art Blocks.
The Mutant Ape Yacht Club seems to be joining the A-team. As a result of the growing Cryptocurrency Market, MAYC’s future (focused on adding utility and benefits only its members will get to enjoy) looks promising.
Additionally, the MAYC’s launched a game called the Mutant Ape Arcade Game, played for three days maximum.
The goal of the game is to defeat the Mutant Ape and thereafter escape the Mutant Aracade Yacht Club. The result therefore is winners getting badges after keying in their wallet addresses.