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Tuesday, January 31, 2023

Bored Ape Yacht Club Has Gone Mainstream

Within months of it being launched, the Bored Ape Yacht Club has gone mainstream- turning it one of the reasons why Wall Street should start accepting NFTs. This could also be due to the NFT having a recent sales turnover of around $1 billion.

For the uninformed, the BAYC is a host of 10,000 cartoons o several anthropomorphic apes that have been decked up in disreputable expressions and stylish clothes. Every single ape is practically a JPEG file that should ideally be considered useless in a sane world. Nevertheless, they have been managing to bring about astonishing sums, while pulling some of the wealthiest celebrities from around the globe. 

Bored Apes Taking Wall Street By Storm

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Recently, Jimmy Fallon, the star of Late Night TV shows, bought the image of a Bored Ape that had been decked up in a striped tee-shirt along with heart-shaped shades, which sold for a whopping $220,000 in November. Another celebrity who recently purchased one of the apes which closely resembled him for a sum of $462,000 was Eminem, the Academy Award-winning rapper.

Interestingly, the rarest of the Apes, which has a gold fur trait, went on to fetch a staggering sum of $3.4 million in an auction that took place online, which was held by Sotheby’s in October. 

One needs to understand that it isn’t rarity that has let Bored Apes reach the heights that it has climbed to. Sure, that is one of the reasons, along with gaining a unique avatar, people also end up gaining admissions to a very exclusive membership club that is completely embossed with tokens. This also provides them with the opportunity to be a part of an inner circle of elites, bringing with it status and other opportunities. 

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Evan Luthra, one of the club members of Bored Apes, recently spoke about the allure that was attached to this elite association. The 26-year-old CEO of EL Group International stated that there was a new celebrity joining in every single day. 

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