The Bored Ape Yacht Club (BAYC) NFT project has hit a new milestone. Well, make that two! BAYC has amassed an incredible half a million followers on Twitter. What’s more, its OpenSea floor price has reached a new record of 83 ETH! For the NFT novices, floor price marks the lowest price at which you can buy an NFT from a particular collection.
The achievements come just weeks after BAYC hit a record floor price of 70 ETH, flipping CryptoPunks. The collection, launched early last year, features 10,000 Bored Apes. Today, it is one of the hottest NFT projects in the NFT market with some apes selling for millions of dollars. So much so that one fan even allegedly sold his Lamborghini to buy a BAYC NFT! Not only that, this year’s Super Bowl Halftime Show might showcase the Bored Ape Yacht Club!
Bored Ape Yacht Club crosses $1 billion in sales
Early this year, the Bored Ape Yacht Club achieved the remarkable achievement of crossing $1 billion in total sales. At the time of writing, the total OpenSea trading volume had reached 326,000 ETH or about $1.06 billion. According to DappRadar data, the collection currently has a market cap of $2.72 billion. Besides, a single BAYC NFT will cost you an average of $300,000.
One of the primary reasons for the collection’s tremendous success is celebrity endorsement. A range of celebrities from across industries have aped into BAYC. Take for instance Eminem, who sent Twitter wild after his recent Bored Ape purchase. He bought BAYC #9055 for $462,000. What’s more, the singer will allegedly dedicate a song on his new album to the BAYC community.
Snoop Dogg, meanwhile, is another celebrity that has gone “all the way in” with BAYC. Basically, the American rapper owns a full set of pink-furred Bored Ape. In other words, he owns a Bored Ape, an M1 and an M2 Mutant, and their companion Bored Ape Kennel NFTs.
Similarly, Grammy winner and the Tonight Show host, Jimmy Fallon owns BAYC #599. Reportedly, he paid around $225,000 for the NFT. Some of the other celebrities who own Bored Ape Yacht Club NFTs include Post Malone, Golden State Warriors star, Steph Curry, music stars Diplo, DJ Khaled, and Martin Garrix, Steve Aoki and Shaq!
BAYC racism accusations loom
Amid all the success, the Bored Ape Yacht Club has recently been facing several racism accusations. Early this month, Phunks creative director, Ryder Ripps accused BAYC of racism and supporting alt-right symbols. Some of these accusations include the BAYC logo’s resemblance to the nazi Waffen Totenkopf, a division of the army combat branch of Nazi Germany.
In addition, as many as nine out of 36 head items in the collection have military connotations. Alleged references to Kamikaze bands, “swastikas”, Pith helmet, and more are also part of the racism accusations raised by many. The allegations have left Twitter divided, with some supporting the collection and others selling their apes.
The time will tell what will happen but one thing is for sure Bored Ape Yacht Club will go down in history and it has been an incredible show. Always DYOR and get involved in projects you love and understand and take it all with a grain of salt we are all just Apes that look like men.
🌏Disclaimer: Some members of our team, including editors of this article, have personally invested in a number of cryptocurrency’s, NFTs and DAOs. We also earn commissions on some of the products we recommend.