The Bored Ape Yacht Club Story

Imagine a yacht club where a huge amount of cartoon apes get together to discuss the latest science fiction they’ve read or share tips on crypto art collecting.

Well, welcome to the Bored Ape Yacht Club this was NFT’s most talked about project in crypto circles. There is a reduced supply of tokens, in this situation, 10,000 Bored Ape NFT are unique. Their owners possess entry to special functionalities, such as a digital graffiti wall called The Bathroom.

This idea of “token-locked login” has appeared in these social or particular token projects, where members own a certain balance of tokens to gain entry to a particular Discord server or Telegram chat set.

Another interesting social interaction of these NFTs is that Ape owners additionally can do whatever they want with the intellectual property tied to the token, which means they can produce T-shirts or other merchandise with artwork tied to the token they own, and no one is going to sue them for that reason.

The Ape’s win opened the door to a new way of forming partnerships around the crypto world and NFT assets. As we remember these are tokens that are bought and sold on the open market.

In the past, this social interaction was left to chance. For example, CryptoPunks fans could generate their chat rooms to dialogue about the scheme among themselves. Or they developed their ways to signal their membership, such as modifying their social networking profile to that of the CryptoPunk they had). However, as NFT projects evolve, they begin to build these properties from the ground up, such as Apes’ token-activated chat.

When that is in place, a plan requires things for individuals to do. The initiative is that since the whole program is open source and smart contracts live on a blockchain for anyone to interact with, in theory, individuals could generate new projects that work with those contracts, building a “composable” program world, which is changing as NFTs mature.

These NFTs were created by four friends who introduce themselves on the BAYC website as Gargamel, Gordon Goner, Emperor Tomato Ketchup, and No Sass.

There is not much information about them but, thanks to their initiative and the community that has been created around the Apes, we have seen thousands of projects that have tried to replicate this success.