The Bored Ape Kennel Club (BAKC) project has been making waves since its emergence in June 2021, and its popularity shows no signs of slowing down. As an offshoot of the Bored Ape Yacht Club project, BAKC NFTs use the ERC-721 token standard on the Ethereum blockchain, enabling the verification of scarcity and tracking of NFT ownership.
In this guide, we’ll take a closer look at the history of BAKC, the project’s mission to promote social good, and how you can purchase BAKC NFTs. We’ll also provide you with essential details about web3’s favorite doggos to help you get started in the exciting world of BAKC NFTs. So let’s dive in and discover all there is to know about these lovable pups!
What Is Bored Ape Kennel Club?
The Bored Ape Kennel Club (BAKC) believes that every ape needs a loyal four-legged companion. Especially during times of isolation in the swamp. BAYC aims to provide dogs for adoption to all its members at no cost, apart from gas fees. These dogs are a source of comfort, a friend, a beer retriever, or even a missile launcher to attack other primates, such as Jimmy. The BAYC recognizes the importance of canine companionship and hopes to bring joy to its members through this initiative.
The Bored Ape Kennel Club BAKC NFT collection was created to reward Bored Ape NFT holders with a furry four-legged friend – a digital canine NFT with 170 different traits. These traits include fur color, eye and mouth position, and accessories like glasses, hats, shoes, collars, and fashionable outfits.
These NFTs are referred to as “Club Dogs” and are companions to Bored Apes. These furry friends frequently visit the metaversal Yacht Club, which inspired the whole BAYC NFT universe. It’s like collecting virtual pets, but make it blockchain.
Who Created Bored Ape Kennel Club?
Yuga Labs, the creators of Bored Ape Yacht Club, launched the Bored Ape Kennel Club NFT collection. The dogs in the collection were first revealed on the last day of the minting period, which was June 25, 2021. During the first six weeks of BAKC NFT trading, Yuga Labs collected a 2.5% royalty on secondary sales.
This was in addition to the 2.5% transaction fee charged by the OpenSea marketplace. The extra royalty was donated to no-kill animal shelters. However, the additional trading fee has now been removed.
When Did BAKC NFT Mint?
In April 2021, the Bored Ape Yacht Club (BAYC) NFTs sold for $200, and then skyrocketed in value. Just a few months later, in June, the Bored Ape Kennel Club (BAKC) NFTs went through the same rollercoaster. The BAKC NFTs have accumulated a total of over 253,314 ETH in trading volume. These canine NFT companions sell for over $100,000 on marketplaces like OpenSea and Sotheby’s.
And if that’s not enough, the Yuga Labs team also released a subsequent collection called Mutant Ape Yacht Club (MAYC), and even gave BAYC collectors an airdrop allocation of ApeCoin (APE) in March 2022. APE is an ERC-20 token used for governance and utility in the vast BAYC crypto ecosystem of NFTs, merch, events, games, and metaverses.
The BAYC Airdrop – Bored Ape Kennel Club Adoption Drive
Bored Ape Yacht Club has been making waves in the world of non-fungible tokens (NFTs) thanks to its unique storytelling approach. The project recently launched the Bored Ape Kennel Club (BAKC) airdrop. This drop rewarded eligible BAYC members with free NFTs designed to support animal welfare causes. This includes donations over $1M across welfare organizations like Orangutan Outreach, Friends of Bonobos, Wright Way Rescue, and Wolf Conservation Center.
This move was a hit with the community and helped to increase the value of the BAYC brand overall. By using creative methods like surprise drops and compelling narratives, BAYC sets itself apart from other NFT projects that lack originality and practicality. Giving away free NFTs is a great way to say “thanks” to supporters and enhance the project’s reputation.
Bored Ape Kennel Club NFT Utility
One of the major utilities of the BAKC NFTs are that it is quite simply the easiest, cost effective and simplest way into the Yuga Labs ecosystem. Moreover, the tradability of these pet NFTs make them appealing to most traders. The benefits of a Bored Ape Kennel Club (BAKC) NFT include:
- Complementary Airdrop: Holders of a Bored Ape Yacht Club NFT at the time of the airdrop received a BAKC NFT for free. The BAKC also airdrop ApeCoin to holders from time to time.
- Randomized Traits: Each BAKC NFT comes with a set of randomized traits, making them unique.
- Exclusivity: The relative exclusivity of BAKC NFTs has led to a high value on the secondary market.
- Lower Cost: Compared to other NFTs in the Bored Ape Yacht Club pantheon, BAKC NFTs have a lower cost of entry.
- Tradeability: Holders can trade their BAKC NFTs on the secondary market. This allows them to potentially earn a profit or match up with similar traits.
Overall, owning a BAKC NFT provides holders with the opportunity to own a unique and exclusive digital dog with the potential to increase in value over time.
How Much is a Bored Ape Kennel Club NFT?
The current mint (floor) price for BAKC is around 4.79 ETH. It is confirmed that no further Club Dog drops are to come. These particular BAKC dogs are the only ones that will ever be in existence. Moreover, once the adoption drive has concluded, it will no longer be feasible to obtain one.
Aside from owning an adorable digital pet, there are benefits to owning a BAKC NFT. These NFTs grant access to the Bored Ape ecosystem. This is where collectors receive exclusive rewards like community access and special events. Additionally, owning a BAKC NFT means that you have full ownership rights to the artwork, giving you the ability to create and sell your own merchandise with your NFT dog.
In the future, there may be more benefits to owning a BAKC NFT. There’s a possibility of staking your NFT, which could result in even more rewards. Binance has already announced the release of their Bored Ape Staking Program, and BAKC staking might be available soon.
Where Can I Buy a BAKC?
BAKC NFTs are available on major digital marketplaces such as OpenSea and Binance.
Conclusion
In conclusion, the Bored Ape Kennel Club has made a significant impact on the NFT world. They offer unique digital dogs to its members and supporting animal welfare causes. Yuga Labs, the creators of the Bored Ape Yacht Club, have created a loyal community that values creativity, originality, and practicality. The BAKC NFTs have provided an entry point into the Yuga Labs ecosystem and increased the value of the BAYC brand overall. The randomized traits, exclusivity, and tradability of BAKC NFTs have made them appealing to traders and collectors alike.
The BAKC Airdrop, where eligible BAYC members received free NFTs designed to support animal welfare causes, was a hit with the community and helped to enhance the project’s reputation. The BAKC NFTs have a lower cost of entry compared to other NFTs in the Bored Ape Yacht Club collection. Holding a BAKC NFT provides an opportunity to own a unique and exclusive digital dog that can potentially increase in value over time.
Overall, the Bored Ape Kennel Club has demonstrated the potential of NFTs to support meaningful causes while offering unique and collectible digital assets to its members. The BAKC collection has shown that digital pets can be just as valuable and beloved as their physical counterparts. The Bored Ape Kennel Club is a testament to the power of community and creativity in the world of NFTs.
