BAYC is one of the most popular NFTs in the crypto space. But do you know that BAYC members are monetizing their NFTs? This article will cover everything you need to know about BAYC monetizing and how holders are doing it.
Introduction to BAYC
The Bored Ape Yacht Club (BAYC) is arguably the most influential NFT project in the world. For nearly a year, it remained second to CryptoPunks in the race for the world’s most successful collection. But as the start of 2022 came and went, the price of BAYC NFTs soared. Today, if you took all the NFTs in the collection and sold them, you’d make billions of dollars (they sell for about $200k each).
The BAYC collection is an edition of 10,000 NFTs. There are generally two kinds of NFTs. There are standalone pieces of art, which are called “1/1.” These are a little like paintings in real life in that only one exists. Beeple’s “Everydays” is an example of a 1/1 NFT.
How are BAYC holders monetizing their NFTs?
BAYC gives holders of its original 10,000 NFTs full commercial rights over their tokens and with no monetary cap. This means BAYC members can take full advantage of the NFTs they own. Let’s look at some of the ways creators do this.
1) Bored Apes in food and beverages
Food Fighters Universe
Food Fighters first staked its claim in the industry with Bored & Hungry — a fast food restaurant that employs four BAYC NFTs as a facet of its branding. Since the launch of Bored & Hungry, Food Fighters has also branched out to a variety of different BAYC-inspired food endeavours.
Bored Wine Co.
Bored Wine Co. is a company that allows BAYC NFT owners to have their unique Apes printed on the bottles of six different types of wine.
Ape Water is a beverage company endorsed by BAYC holders. Ape Water has yet to launch its brand but has already begun to make a statement by hosting events alongside conferences like NFT.NYC.
AriZona Iced Tea
AriZona Iced Tea has also joined the BAYC community with the purchase of a single BAYC NFT in the fall of 2021. Also, AriZona gave the nod to a project called The Bored Ape Comic, which seems to have some affiliation with the brand.
2) Bored Ape clothing and accessories
Bored Ape Wear
Bored Ape Wear is a line of officially-licensed BAYC merch created by members of the BAYC community. Said to be inspired by the entrepreneurial spirit of the Bored Ape Yacht Club, Bored Ape Wear’s purpose is “to put a spotlight on the commercial rights that come with Bored Ape Yacht Club membership.”
Diamond Supply Co. x Zumiez
In early 2022, Diamond Supply Co. released its Diamond Ape Collection, which included numerous items featuring both Bored Apes and Mutant Apes.
Adidas utilized its owned BAYC NFT — which was given the name Indigo Herz — as the spokesperson for an ongoing metaverse x IRL wearables initiative.
3) Bored Apes making music
Bassjackers have been a prominent part of the NFT community as collectors for quite some time. Bassjackers cited their affinity for the Bored Ape Yacht Club with a music video titled “Bored Ape Rave Club”.
In late 2021, Universal Music Group announced that four characters from the influential BAYC project were to be united as a band called Kingship. As Kingship, the band of BAYC characters is set to release music, NFTs, community-based products, activations, and experiences.
The escape plan comprises of two characters — ETHan and zeETH — brothers whose “origins lie in the snow-covered mountains of Sethan Village, India.” Escape Plan is a producer/DJ duo featuring two BAYC NFTs.