Beginner's guide to NFTs I: What are Bored Apes?

image: Bored Ape NFT collage / Article by Chris pace

Hello guys and welcome to a new series of articles called Beginner’s guide to NFTs. Now that we have talked about many crypto topics, I think its time to go deeper into the NFT world, and with this, I introduce you to Beginner’s guide to NFTs

In this episode, we will talk about the very well-known “Bored Ape” NFT collection.

Although before we start, I recommend reading these articles, as they will give you context so you can understand this topic as easily as eating pie.

  1. Beginners Guide to Blockchain Part V: What is an NFT?
  2. Beginners Guide to Blockchain IX: Crypto Dictionary (other terms you need to know).
  3. Beginners Guide to Blockchain Part III: What is Ethereum?

If you are interested in reading more articles like the ones I already mentioned, feel free to check out my page, I write a lot of crypto-related stuff which you could find interesting.

With nothing else to say, let's get right into it.

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If you have heard the word NFTs then Bored Ape Yacht club or BAYC will ring a bell, nowadays NFTs are becoming more popular and within those popular NFTs, the BAYC exists.

Now…

What exactly are Bored Apes?

It's really not that complicated, Bored Apes are a collection of Non-Fungible-Tokens (NFTs) produced on the Ethereum blockchain and owned by the Yuga Labs company, they include images of cartoon apes generated by an algorithm.

Not two images are alike.

Image: BAYC Yuga Labs / Article by Chris Pace

Why are they so popular?

The name gives you a clue, the Bored Ape Yacht Club bills itself as an exclusive society or social organization, and owning one of the desirable NFTs gives access to that membership.

It gives members access to a private Discord server, for example, where other fellow owners, including celebrities, may hang out and talk.

Apart from that, they are becoming very popular due to their rarity and uniqueness, one of them could reach the price of about $429,000 US dollars

Image: BAYC Yuga Labs / Article by Chris Pace

How can I get one?

There are many ways you can get one, the most popular one being through OpenSea, an NFT marketplace where hundreds of NFTs are sold.

Here is the step by step process:

Open a crypto wallet using MetaMask, open an OpenSea account, connect Metamask to OpenSea, buy ETH and transfer it to MetaMask, search for the Bored Ape that you like, and buy it.

Interesting fact:

The entirety of BAYC revolves around the storyline that is the year 2031. BTC and ETH have taken over the world, and everyone who aped into crypto is rich beyond their wildest dreams. But now they are all bored and want to hang out with other like-minded apes in an exclusive club and hang out in a bar.

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So there you go, this was my article about Bored Apes, I hope you enjoyed it and that you were able to learn something new from this article.

If you would like to hear more crypto-related stuff, make sure to follow @bychrispace on Twitter and on pretty much all other social media.

Chris Pace.

thechrispace.com

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