June 16, 2022

Bored Ape Yacht Club NFTs

Bored Ape Yacht Club NFTs continue to expand in popularity as sales move into the $2 billion range.

What happened:

Yuga Labs, the U.S. startup behind BAYC, recently crossed $2 billion in sales by selling 10,000 NFTs of cartoon apes in 2021 and 50,000 NFTs of their new collection Otherdeeds in 2022. These NFTS double as Bored Ape owners' Yacht Club membership cards with access to members-only benefits like a communal, online graffiti board. With a growing community of BAYC owners, Yuga Labs now plans to release a Bored Ape-themed game in the metaverse called Otherside where members will have rights to plots of land and other benefits.

Why it matters:

The frenzy over BAYC NFTs continues to cement Yuga Labs' position as a significant player within the NFT space and underscores the growing mainstream interest and demand for crypto-assets. Yuga Lab's upcoming launch of a new project, Otherside, in the metaverse will create a bridge between major digital communities: cryptocurrency and virtual reality. By bringing these two communities together, Otherside will provide users with a new way to interact with and use digital assets. Will this cement Yuga Labs as an NFT pioneer? 

Since 2021, talk across social media has exploded. On social media platforms, 394 influencers produced a total of 2852 posts with 601M impressions and a total estimated Earned Media Value (EMV) of $12.2M over the course of 497 days. On Instagram, 141 million users interacted with a post tagging BAYC, while posts on Twitter generated the highest EMV at 508M $. The top post across all platforms was a video of a Squid Game inspired BAYC NFT posted on TikTok by virtual cyborg rapper FNMeka with 23.4 million views. 

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