Mutant Ape Yacht Club NFT
The Mutant Ape Yacht Club can be seen not as a derivative project but as a companion project of the Bored Ape Yacht Club. The general idea of the Mutant Ape Yacht Club is that the Mutant Apes are formed when mutant serums are administered to the NFTs in the collection of Bored Ape Yacht Club.
Rather than derivative pieces, these new mutations within this blockchain project number 20,000 — digital collectibles of Mutant Apes created with a special serum. It is one of the cool projects to follow up from its earlier version: the Bored Ape Yacht Club.
This non-fungible tokens collection has risen to prominence like its parent organization and stands on the list of billion-dollar companies or collections in the NFT world. Developed by Yuga Labs, this better than derivative collection of Mutant Apes has incorporated celebrities, such as star basketball player Stephen Curry and members of English French-based band Stereolab.
The club for Apes has garnered immense support and investment within a year after its launch. At current times, the parent community, the Bored Ape Yacht Club, stands near the top of the secondary market of NFT sales with a market volume of 551,000 ETH.
On the contrary, the Mutant Ape Yacht Club is leading in the second position with a market volume of 382,000 ETH. Hence, these collections, related to the Kennel Club BAYC collection, are the undisputed champions of the OpenSea crypto community by bagging the two of the top three positions.
A Glance at The History of Mutant Ape Yacht Club
Creators of the Appealing Collection of Mutant Apes
This (some would say) derivative project is one of the most creative projects in the metaverse universe with art pieces of 20,000 Mutant Apes. Yuga Labs is the sole owner and creator of this club for Apes. There has been significant development ever since the inception of this collection.
Different categories of serums are available for the Ape holders to convert their Bored Ape Yacht Club collectibles into a Mutant version, along with keeping the previous BAYC NFT intact. The creators are working continuously for the development of this NFT community and have created enough value to keep it in the two of the top three slots on OpenSea.
Breaking Down the Storyline
The story begins on 29 April 2021 with the first public sale of the Bored Ape Yacht Club. The storyline portrays a metaverse decentralized community with Apes as the leading figures. The Apes have taken over, and that is the new world order in this part of the metaverse.
The three categories of serums are M1, M2, and M3 (Mega Mutant). The M1 and M2, when used with a Bored Ape, will create a Mutant figure resembling the parent version. However, the M3 serum has different rarities and will create a diverse and completely new digital art of Mutants.
The Apes are ruling and propagating through activities, including community-building. The roadmap is extended with this Mutant Ape Yacht Club, which adds to the BAYC NFT collections. A serum is created and is available to token holders of the Bored Ape Yacht Club art community.
The Bored Ape Yacht club sells serum of different potency. After being injected with serums, a new version of apes, Mutant Apes, come into existence. Exclusive communities have been created within the Mutant version of this NFT project to keep on increasing the growth rate.
The Market Impact of Mutant Ape Yacht Club
According to the blockchain analytics, the Mutant Ape Yacht Club is a growing collection (not a growing company) and is third on the list of OpenSea NFTs in terms of all-time market volume. The public sale of these non-fungible tokens, aided by smart contracts, started at low prices.
However, while there was an intriguing price discovery when the collection first minted, the NFTs have seen a sharp increase after they gained immense popularity in the NFT world. The digital collectibles of the Mutant Ape Yacht Club were sold based on a Dutch auction mechanism.
The Dutch auction mechanism is a bidding series for an available commodity. In this methodology, bids are placed on the respective objects, and the highest bid is awarded the sale. If there are no bids, the price decreases after a certain time frame. That method has been prevalent in the trading of NFTs on the OpenSea platform ever since its inception. This Dutch auction pricing mechanism is one of the most common tools or factors amongst projects selling NFTs.
During the time of launch, each digital collection of Mutant Apes was priced at 3 ETH, and now the floor price has reached a whopping cost of 40 ETH, one of the highest in the NFT community. The traded volume of Mutant Ape Yacht Club is only third to its parent collection and the CryptoPunks collection.
Currently, the ERC-20 tokens of these Ape communities are the most fast-paced NFTs. They have been at the top of leaderboards for quite some time, and these general blockchain applications are not going to vacate the positions easily. They will keep on ruling the market unless a tough competitor intrudes in to challenge the rule of Mutant Apes.
Blockchain Game: A Future Leap of the Bored Ape Yacht Club
The creators of these two collections vowed to take the initiative in a future blockchain game. The game was called “Mutant Ape Arcade Game.” However, it is only available for a limited period of three days.
The sole aim of playing this game revolved around the idea of defeating Mutant Apes and escaping the Mutant World. The winning member was entitled to different perks within the community. The provision of a gaming component with community membership is a great addition and a lucrative opportunity for members.
The Discord community managers of this club are leading the overall development of the community. However, the developers have provided equal opportunities to all the members of the Discord by having considered their viewpoints.
It is a club for people and is not controlled by any individual entity. Furthermore, the purpose of the community is to bond stronger and make the Mutant Apes a reckoning force in the metaverse. Furthermore, the holders of NFTs will be provided exclusive membership benefits and will be engaged in community activities.
Mutant Ape Yacht Club: Final Thoughts
Mutant Ape Yacht Club is the leading collection in the OpenSea NFT world. It stands third to its parent collection and CryptoPunks (both owned by company Yuga Labs) and has a whopping collectibles of 20,000 characters of Mutant Apes. The developers have ensured the provision of serums to the members of Bored Ape Yacht Club, which they can use to get a Mutant version.
The popularity of this NFT project has soared beyond imagination, and it has taken second place in the NFT rankings in a short period. Keeping in check the market analytics is perfect for predicting that the value of this digital asset will keep on increasing in the days to come.