Bored Ape Kennel Club
The Bored Ape Kennel Club (BAKC) is a collection of non-fungible tokens (NFTs) on the Ethereum network. The 10,000 NFTs were dropped to all Bored Ape Yacht Club (BAYC) holders for free and currently 9,600 out of the 10,000 Bored Apes have claimed their canine buddy.
More recently, having a BAKC NFT in conjunction with a Bored Ape or Mutant Ape increased the number of $APE tokens airdropped to you in ApeCoin release, which had significant value for holders.
The issuance of this cryptocurrency delivered the first realized return on investment for Bored Ape holders, demonstrated that BAKC had ongoing use in the Bored Ape ecosystem, and further demonstrated that NFTs can be viable investments.
Bored Ape Kennel Club NFT Collection: A Brief History
The Bored Ape Kennel Club (BAKC) is a collection of 10,000 distinct NFT canines produced by Yuga Labs, creators of the Bored Ape Yacht Club (BAYC). The BAYC was a pioneering collection in the NFT space, and has grown into a vibrant community that has attracted celebrities, athletes, and companies to invest.
Yuga Labs decided to make the furry digital friends for all BAYC owners after the success of BAYC (similar to the related Mutant Ape Yacht Club (MAYC)). BAKC puppies, according to the project's developers, were intended to bring companionship to all Apes in the Bored Ape Yacht Club. Consequently, each member of the Bored Ape Yacht Club won an NFT dog.
Once minted, an owner could sell, hold, or transfer the BAKC Dog as they saw appropriate. The BAKC Dogs first appeared in the NFT world in June 2021. The companion NFT, Bored Ape Kennel Club, was an instant success due to the popularity of BAYC NFTs.
As noted by the BAYC designers, "It can feel lonely in the swamp at times. That is why every ape needs a four-legged friend."
As BAYC continues to deliver on its roadmaps, these cute pets may have some utility for holders in the future.
As an added plus, Giving Block contributes royalties from the secondary sale of these dogs to animal shelters. The supplemental royalty charge of 2.5 percent was withdrawn after the first six weeks of their distribution.
Bored Ape Kennel Club NFT Collection: The Key
Consider each token's characteristics before adding Bored Ape Kennel Club canines to your NFT collection.
BAKC dogs can have traits in the following eight categories:
The Key Traits
Each characteristic can be further classified.
The following are examples of backgrounds:
- Club exterior
Fur types can include the following:
- Death Bot
The back can include the following:
- Basketball hoop
- Beer saddle
- Cyberpunk pack
- Doggie pack
- Mega rocket launcher
- Rocket launcher
- Service vest
- Toilet paper dispenser
Each dog also follows 1 of 9 different themes:
Dogs from the Bored Ape Kennel Club might have several traits. The more uncommon the characteristics, the more valuable an NFT may become. An NFT marketplace allows investors to examine the features possessed by a BAKC dog and the rarity of each attribute.
Bored Ape Kennel Club NFT Collection: The Floor Price Rate
The Bored Ape Kennel Club NFT collection has grown to include a new ATH floor price of 12 ETH. With a single NFT, the lowest price is now around $36,000.
Each of the Bored Ape Yacht Club's 10,000 NFTs was paired with one dog per BAYC, with the owner of the BAYC able to “adopt” (mint) the BAKC in June 2021. So BAYC owners could generate one Club Dog NFT at random by paying only gas fees for each BAYC they owned.
Surprisingly, 400 BAYC owners did not claim one for adoption, resulting in a total supply of 9.6k BAKC pups. Given the current value of gas, they may regret their decision to avoid the expenses. For the first six weeks, The proceeds went to the no-kill animal shelter organization Wright-Way Rescue.
The highest price paid for a BAKC this week (late April, early May 2022) was $104,000. It has solid gold fur, which just 1% of Bored Ape Kennel Club canines have. In addition, just 18% have closed eyes. In the randomized minting, some BAYC owners were fortunate enough to obtain club dogs with high rarity.
As ERC-721 tokens, each dog is unique and stored on the Ethereum blockchain. They have approximately 170 potential traits, some of which are more common than others. Yuga Labs made the Club Dog drop to provide entertainment and surprise while they focus on mutant-breeding and the treasure hunt.
There will be no more Club Dog drops. Therefore BAKC is a limited edition collection. Yuga Labs has continued its generous contributions by donating 10 million ApeCoin tokens to charity.
Bored Ape Kennel Club NFT Collection: The Roadmap
There is no clear plan for this non-fungible token collection. However, similar to past supply drops like BAYC, you may anticipate the devs adding unique value to these tokens that prior collection Ape owners may use in the future.
As with previous projects, owners may be able to obtain rare BAKC products and unlock limited edition items specific to the collection. Any single member may also get first dibs on the collections listed below.
Bored Ape Kennel Club NFT Collection: The Future
The legendary Bored Apes will be accompanied on their voyage by this collection of 9,600 four-legged NFT companions. As a result, the project administrators may add significant functionality to Kennel NFTs this year, enhancing their value!
Bored Ape Kennel Club NFT Collection: The Clinch
Many reasons led to BAKC's success, but apart from time and the NFT market evolving in front of our eyes, the team created a fantastic tale through art and has continued to offer value to the project's holders. It will be amazing to see how much the Bored Ape brand spreads as owners use their commercial rights.
BAKC is a very speculative endeavor. In recent months, prices have climbed considerably, but they might decrease. The Apes' value stems from their scarcity and media attention. Investing your life wealth in an Ape is not a good idea; however, an ape may be rewarding if you have the money and are ready to take a risk. However, one thing is sure: BAKC is not going away anytime soon.