The Collectibles project that raised $94 Million Sales in just 3 months rewarded its community with free NFTs from the Bored Ape Kennel Club. Last June 19, BAYC announced that each Ape NFT holder could receive an NFT airdrop corresponding to their own Ape number. The Bored Ape Kennel Club comprises 10,000 Club Dog NFTs, which NFT holders were able to claim by simply paying gas fees.
Following the pattern of success of BAYC, the Bored Ape Kennel Club’s 30-day performance shows that total volume is now at $14.71 Million or 38.95% up swing.
The Bored Ape Yacht Club is a collection of 10,000 unique Bored Ape NFTs. The Ape avatars doubles as a Yacht Club Membership card and grants access to members-only benefits. The first of which is THE BATHROOM, a collaborative graffiti where community members can contribute. So the free dog NFTs expanded the exclusive benefit for current BAYC Members.
Bored Ape Kennel Club NFT Airdrop
Bored Ape Yacht Club was an instant success. Even when Ethereum cooled off, the project sustained its momentum and now sits Top 6 at DappRadar Charts in terms of All-Time Volume. Aside from the eye-catching avatars, the project stands out because of its storytelling. BAYC demonstrated this strength once again with the launch of the Kennel Club NFTs. The listing reads, “It gets lonely in the swamp sometimes. That’s why every ape should have a four-legged companion.”
BAYC donated the royalties from secondary market sales to charity. In line with the theme, the beneficiary are local dog shelters. The project is channeled a whooping 2.5% royalties to support animal welfare causes.
The Bigger Picture Based on the Numbers
It is worth noting that BAYC followed the model of Larva Labs’ CryptoPunks. Basically, anyone who had Larva Labs’ previous NFTs, CryptoPunks, and Autoglyphs, were eligible to mint Meebits without buying one. The project is a massive success and is now ranked #7 DappRadar’s Top Collections (All-Time). Just 2 weeks ago, Meebits joined the million-dollar club when Meebits #17522 was sold for 1000 ETH or $2.1 Million.
The numbers can confirm that the airdrop is a massive hit. The community claimed 9600 Bored Ape Kennel Club NFTs, just 400 shy of the total supply. The free dog NFTs are spread across 4300 owners. What’s even more impressive is that the floor price is currently at 1.3 ETH or almost $3,000. Looking at the 7-day performance of Kennel, Club NFTs inspires confidence because it’s ranked #8 ahead of more established projects.
The airdrop certainly boosted the brand’s overall value. It was straight A’s on all fronts between the element of surprise, storyline, graphics, and mechanics. NFT collectibles are often criticized for their lack of utility. BAYC just smashed this tag by surprising and rewarding its community with free dog NFTs.
The project’s roadmap lists ‘Mutant App Arcade’ as part of the milestones. Thus, owners can soon start breeding their Bored Apes like the #1 play-to-earn game, Axie Infinity. Once this feature is live, the rarity of OG Bored Apes and Kennel NFTs will increase and so will its value. Needless to say, the excitement of the community is at an all-time high.