Last June, BAYC purchased a large parcel of LAND at The Sandbox. Following this announcement, BAYC holders flocked to the metaverse and purchased parcels of LAND around BAYC’s virtual property.
The Bored Ape Yacht Club, a set of 10,000 unique digital ape NFTs has become a hit among collectors. As of July 1, a Bored Ape is trading at an average of $3600 on Opensea. This represents a 1574% jump from the launch price of $215 in April. Moreover, total sales have jumped to over $60 Million.
The excitement around The Sandbox and BAYC Partnership
The latest roadmap of BAYC revealed that The Sandbox team is making great progress on voxelizing the apes to allow all BAYC NFT holders to appear as their apes in the metaverse. Meanwhile, the BAYC team is partnering with a full professional team to build out the BAYC estate in style and detail.
The community responded positively. Following the confirmation of Josh Ong, a known BAYC community member, the community raced to become the new neighbors of the virtual property. In this metaverse, LAND is a virtual property that players, users, or investors can purchase to build experiences on and monetize, filling them with games and assets.
Sebastian Borget, COO and Co-founder of The Sandbox, welcomed the new BAYC LAND owners. He tweeted, “To all BAYC LAND owners out there, we’re here to answer your questions and help you in building your dream LAND. Let’s show the world what NFT Community means!”
The Sandbox is not the only Metaverse partner of BAYC. BAYC NFT holders will soon have a special hangout in Decentraland. The project clarifies that it’s not going to be a carbon copy of the main club. The next roadmap announcement would touch on this more.
BAYC Utility
Building a community came quite naturally for the BAYC because the aesthetic of the apes attracted a specific type of group. There’s no doubt that the BAYC team created a whirlwind of excitement within the NFT space. However, their core strength is building a tight community characterized by the right balance of exclusivity and fun. In fact, BAYC NFT holders are as unique as the ape characters they own.
The first utility it introduced is the graffiti wall. Basically, if you own an Ape in your crypto wallet, you can gain access to a private “bathroom” that allows you to put graffiti on the wall. Profanities and NSFW doodles aside, this perk allowed the community to collaborate in a cool way.
The project revealed that the next major utility is the “Mutant Ape Breeding.” This is similar to the breeding functionality of Axie Infinity. Soon, NFT holders can interbreed their virtual apes to produce new virtual apes. NFT breeding is more than just about the aesthetic component because it creates more commercial activities in the ecosystem. For example, the floor price of Mystic Axie NFTs is now worth 20.98 ETH or $47,575 because of Axie Breeding dynamics.
Proud BAYC NFT holders include NBA stars such as Tyrese Haliburton, LaMelo Ball and Josh Hart. In addition, renowned figures such as Rohan Gharegozlou (CEO Dapper Labs), Mark Cuban and Gary Vaynerchuk (VeeFriends) also owns ape avatars. Even Ethereum co-founder Vitalik Buterin was spotted in an unofficial BAYC clubhouse chat.
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