NFT guide: What is the Bored Ape Yacht Club (BAYC)?

The Bored Ape Yacht Club NFT collection is very well known in the crypto and Web 3.0 space.

The Bored Ape Yacht Club is one of the most well-known and infamous NFT art collections out there.

Often referred to as the BAYC, this NFT collection was developed by Yuga Labs and it was launched in April of 2021, raising over $1 billion in sales revenue.

Snoop Dogg and Logan Paul are just some of the many celebrities who have purchased a Bored Ape, which has quickly established itself as a status symbol.

Do Bored Apes have any utility?

NFTs from the BAYC are utility NFTs, as holders are given access to exclusive events, which are both in-personal and virtual.

However, despite this, most people buy a Bored Ape as a speculative investment, hoping its price will rise in the future, in a similar fashion to how people commonly invest in cryptocurrencies.

How to buy a Bored Ape NFT

You can buy a Bored Ape from a popular NFT marketplace, such as OpenSea, by accessing the secondary trading market.

Here, you can see the price of various different NFTs from this collection, and easily purchase one from verified holders/sellers.

You can later sell your Bored Ape in the same way, but by taking the other end of the transaction.