project overview
name: Bored Ape Yacht Club (BAYC)
Release date: April 30, 2021
Platform: Ethereum
Total amount: 10,000 unique NFT avatars
Initial selling price: 0.08 ETH (about $190)
Art style: Hand-drawn cartoon-style ape avatar with diverse accessories and backgrounds
background and founding team
BAYC was co-founded by four anonymous founders who use the pseudonyms Gargamel, Gordon Goner, Emperor Tomato Ketchup, and No Sass. The initial goal of the project was to create a fun digital art project, test their skills, and try to build a fun brand. Despite the slow initial sales, BAYC quickly gained a lot of attention and recognition, fueled by the NFT market.
ecosystem and business
modelBAYC is not only a digital art collection project, but also has developed a diversified ecosystem:
ApeCoin ($APE): In 2022, Yuga Labs launched ApeCoin as the native token of the BAYC ecosystem for community governance, incentives, and brand collaboration.
Otherside: BAYC's virtual world platform designed to provide an immersive virtual experience for NFT holders.
ApeFest: An annual event hosted by BAYC, including concerts, art exhibitions, and social gatherings, further strengthens the community's cohesion.
Brand licensing: BAYC holders own the commercial use rights of their NFTs, and many holders use this right to conduct businesses such as derivatives, dining, and entertainment.
celebrity endorsements and market
performanceBAYC has attracted the attention of many celebrities and brands:
celebrity endorsements: Including Eminem, Snoop Dogg, Madonna, Paris Hilton, Jimmy Fallon, Gwyneth Paltrow, and more.
Brand Collaborations: Collaborate with brands and individuals such as Adidas, Nike, Serena Williams, Timbaland and more to launch co-branded merchandise and campaigns.
These collaborations not only enhance BAYC's brand value, but also drive the acceptance of NFTs in mainstream culture.
Intellectual Property & Legal
DisputesBAYC's intellectual property policy allows NFT holders to have commercial use rights for their avatars, which is relatively unique in NFT projects. However, this has also sparked some legal controversy:
Ryder Ripps lawsuit: In 2022, Yuga Labs sued artist Ryder Ripps and the RR/BAYC collection he created, alleging infringement of BAYC's trademarks and copyrights.
Trademark dispute: RIPPS counterclaimed that BAYC's terms waived rights to the trademark, arguing that the holder should have the right to the trademark.
These cases have sparked extensive discussions about the ownership and protection of NFT intellectual property.
sustainable development and future
prospects Despite the volatility experienced by the NFT market, BAYC has maintained its leadership position in the digital art and Web3 space. Yuga Labs continues to drive the growth of its ecosystem, focusing on core projects such as BAYC and Otherside. With the launch of ApeCoin and the construction of the virtual world platform, BAYC is expected to continue to expand its presence in the field of digital entertainment and virtual reality in the future.
BAYC is not only a successful NFT project, but also a model of brand building and community culture in the Web3 era. Through an innovative business model and deep community support, BAYC demonstrates the deep integration of digital art with real-world commerce
