Last year, non-fungible token transactions exceeded $17.5 billion around the globe.
NFTs can allow people to support artists and own a piece of artwork, a game, or a meme.
One of the trendiest fungible tokens currently circulating in the digital world is the Bored Ape Yacht Club.
Keep reading if you want to learn more about this NFT ape and invest in it yourself!
What Is the NFT Ape?
Before you can understand why the NFT ape is trending, you must discover what it is.
The Bored Ape NFT consists of more than 10,000 cartoon ape images. This NFT craze began last year and has become one of the most popular options in the crypto market. Non-fungible tokens, like these apes, can be used to make purchases and exchanges.
This fun avatar shows an ape with a solid color in the background. Depending on the style you purchase, you can get some with crazy accessories and make the apes look however you want. Each ape has different attributes, making some rarer than others.
Why Is It Trending?
Not only are these unique ape images funny and clever, but they are also valuable.
The cheapest cost to own part of these images is around $150,000, making them a desirable NFT. Earlier this year, the cost was more than double what it is now, which is making this affordable for many. The crypto crash in April caused disruption; however, it’s easier to purchase the art.
Famous actors, musicians, and influencers are investing in this NFT and using it in clever ways. This has spurred a lot of interest and people are seeing the apes everywhere.
Where Are They?
The ape avatar has been circulating, and you might not even recognize it at first glance.
Most people use the ape cartoons as a profile picture on social media accounts. For example, Eminem, Jimmy Fallon, and Paris Hilton have all used BAYC images on their professional accounts. Snoop Dogg and Eminem even released a shortened video that included the famous bored ape.
Keep an eye out for the apes with the golden fur trait, they are among the rarest!
How Will Bored Ape Yacht Club Evolve?
These famous and catchy ape images won’t be going anywhere, anytime soon.
A few months back, the Ape Coin was released. It is going to be the primary currency in a metaverse building. Integrating blockchain will increase the value of BAYC and you’ll see the apes collaborating with larger brands.
Some people are working on a mobile game that includes these apes, making it even more relevant.
Will You Be Getting an NFT Ape?
Discovering the NFT ape can introduce you to cryptocurrencies, coins, and tokens.
NFTs give you the chance to own a piece of art or content and claim it as your own. The Bored Ape is trending since its price recently dropped and famous people have started using them as profile pictures on social media.
Depending on which ape you purchase, you can own a rare piece of art.
If you want to learn more about NFTs and the world of digital currency, check out our blog for the latest content!
