What is the Bored Ape Kennel Club?
Bored Ape Kennel Club consists of 10,000 programmatically generated dog NFTs with 170 possible traits. Initially launched by the Bored Ape Yacht Club developers for the Ape owners as free drops last year, NFT enthusiasts can now find these dogs floating around in several marketplaces.
Taking cues from its forefathers, the Bored Ape Yacht Club dropped these programmatically generated puppies on their official platform for free. Meant as companions for the original Bored Ape troupe, these NFTs soon hit their stride and took the NFT world by storm, reinforcing the precedent other successful PFP projects set.
And it is done all for the sake of altruism because as we said, every member of the Bored Ape Yacht club had the chance to own one of them for free (only paying for the gas).
Each generated four-legged mammal has unique traits ranging from armors to collars to even the type of asset between their teeth. So, it should not be an understatement stating these pups have a lot of value to go along with their cuteness. And considering they were free when they initially dropped, they can be a sign of opportunity within the NFT space that would make it more appealing to those still yet to enter this domain.
Who are the founders of the Bored Ape Kennel Club?
The Bored Ape Kennel Club are limited drops of the Bored Ape Yacht Club, a group of NFTs popular among celebrities. Each dog is stored as an ERC-721 token on the IPFS-hosted Ethereum blockchain.
The founders of this club are only known by their digital avatar names: Gargamel, Emperor Tomato Ketchup, Gordon Goner, and No Saas.
The eccentric nature of these names is reflected in the programmatically generated apes owned by celebrities such as Paris Hilton, Jimmy Fallon, and even, the rap god himself, Eminem.
After garnering the attention of celebrities, the founders came around and launched Bored Ape Kennel Club – programmatically generated pups with several unique and eccentric traits that quickly made them the favorite of most Bored Ape Yacht Club Owners.
The developers described BAKC (Bored Ape Kennel Club) as four-legged companions of the Apes that parade around in the swamp. They emphasized that these pups can do everything for Apes, from bringing beer to shooting rockets at an enemy.
After gaining enough notoriety among the celebrities, the founders created Bored Ape Kennel Club for a particular purpose – to offer one dog for adoption every time a BAYC member claims a pup.
By doing so, they have reinforced that NFTs are not just for the sake of vanity, but also have value beyond the blockchain.
When asked why they launched this NFT, the developers replied that they wanted a chance to give back to the community – plus they love dogs.
The impact of launching Bored Ape Kennel Club on the BAYC
Some NFT developers consider “utility” a great addition to NFTs that may help gain the interest of the blockchain enthusiasts. It can be exclusive access to pay-to-earn games or a way to stake that NFT on the market to earn the associated cryptocurrency.
In 2017, Crypto Punks gained the interest of the NFT space by giving away 10,000 NFTs away for free for everyone that has an Ethereum wallet. Being one of the earliest examples of non-fungible token-based digital collectibles, they were the first ones that really got people interested in crypto art and its worth. And because of their move, they were the first ones to succeed at creating a tangible market for the NFTs.
Thinking along the same lines, Gargamel and his team of NFT developers created the Bored Ape Kennel Club. On the offset, one can understand that these dogs mimic the traits of the Bored Ape Yacht Club. However, the interest it generated among the enthusiasts and the fact that it was for a good cause helped the BAYC’s value skyrocket. As a result, their price floor rose from 4ETH to more than 11ETH as of February 1st, 2022.
However, the aspect that really pushed these dogs into the horizon and into the wallets of NFT enthusiasts is the way BAYC approached the secondary sales market.
BAKC approach to secondary sales is what makes it unique
Many aspects make these Dog NFTs unique in the space. But it is the approach that founders took with their secondary sales that really set the benchmark for many upcoming NFTs.
When an owner sells their dog on the OpenSea marketplace, he will need to pay 2.5 percent of the royalty fee. A 100% of that fee does not go in the pocket of the developers, but to the Giving Block, an animal shelter.
After six weeks, the developers removed that 2.5% royalty fee. So now, those who have claimed their NFTs can enjoy the entire bounty of their sale.
What are the specs of Bored Ape Kennel Club?
The Bored Ape Kennel Club has 170 traits. These traits are unique, fit the metaverse they are part of and act as a nice cohort for the Ape NFT of the BAYC.
Here are the list of customizations of Bored Ape Kennel Club NFT
- 16 backpacks that include highly artistic service pack, toe beer kegs to jetpacks to kunai and more
- 5 backgrounds that are meant to reflect the metaverse, consisting of swamp, outhouse, Club exterior, and a bar
- 32 eye variations that lay emphasis on the expressive nature of these dogs, making it truly memorable for the NFT owners.
- 17 feet variations that range from caste to high tops to flippers and more
- 16 fur variations that can either accentuate on the wild like brown and furry and more align with a modern expression of this cyberized world like Cyberpunk
- 32 Head variations that decorate these dogs with headbands, beanies and more.
- 36 mouth variations.
- 23 neck variations.
These variations combine to create 10,000 unique pets. You can treat them as good companions for your apes or treat them as great investments into your crypto future.
What makes BAKC valuable?
Many aspects make these dog NFTs valuable. Still, it depends on whether or not you already own a BAYC NFT.
If you are one of the individuals who were part of the one-week event and were able to score one pup for your own by just paying the gas fee, you can now stake it on the marketplace to enhance your investment.
And, if you are someone new who has just now heard of these dogs – here are the reasons that make this NFT valuable to you.
- The expressive customizations are something to behold. You can make your pup truly unique.
- You can enter the metaverse with a purpose (if you wish to be a part of it).
- And, the current trend of the NFT price is high. So, if you take it now, there is a chance that you can gain a lucrative ROI.
How to buy Bored Ape Kennel Club NFTs?
If you couldn't grab one dog for free when it first launched, don’t worry. The secondary market is open to you. But, if you truly want to have a more symbiotic relationship with your programmatically generated pup, you can try becoming a member of the Bored Ape Yacht Club. The adoption drive is still ongoing and you can become a part of it once you become a member.
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