Overthe last few years, cryptocurrency and other decentralized forms of financehave seen a massive surge in interest. It seems like practically everyone andtheir uncle has bought in at one point or another, and the current skyrocketingpopularity of NFTs only further supports this. They truly are becoming the‘next big thing’ within the world of alternative currency.

Butlike with anything else, not all NFTs are created equal -- both literally andfiguratively. Some collections simply appear to have an innate edge over thecompetition, garnering a higher value, impact, or interest than would usuallybe seen in the niche. It all comes down to public perception, and there’s nonewho do better here than the all-too-mysterious Bored Ape Yacht Club. 

Doesthe name sound familiar? It should. The Bored Ape Yacht Club (also known as theBAYC) is an NFT project that has taken the world by storm. Post Malone, Eminem,Stephen Curry, and even Jimmy Fallon have all reportedly bought into thecollection, along with dozens of other top celebrities and cultural icons.It’s huge, widelyknown, andnow worth more money than any of us are likely to see in a lifetime. But howdid it all start? After all, the BAYC practically popped up overnight and itdoes tend to feel rather cloak and dagger. Surely there’s a story to tellthere. 

Well,there is and an interesting one at that, although probably not as secretive asyou might expect. The story of the Bored Ape NFT collection actually startslike many do: as an idea conceived by two friends. The friends in thisparticular tale are Greg Solano and Wylie Aronow, two thirty-something Floridaresidents who’d previously only gone by the pseudonyms Gargamel and GordonGoner before having their identities revealed by Buzzfeed late lastFriday. 

Solanoand Aronow had both individually acquired an interest in cryptocurrency duringearly days and found the idea of creating an NFT collection appealing. It onlymade sense for them to team up, so they did. After deciding to work together,the concept of “rich apes living in a swamp clubhouse” began to form, and thepair reached out to others who could bring their idea to life. One freelanceartist, two co-founders called No Sass and Emperor Tomato Ketchup, and theformation of Yuga Labs later, the Bored Ape Yacht Club was born. 

Createdwith the intent to give NFT collectors a community of their own to call home,the BAYC is more than just another grab-bag of digital assets. However, thatside of the crypto project is indeed the more visible one, and for obviousreasons. It is what the public sees, and it’s come a long way in the pastyear. 

Thecollection had a relatively humble beginning. Its late April 2021 marketappearance consisted of 10,000 computer-generated apes, each with a flat priceof .08 ETH that would’ve translated to about $320 at the time. That kind oflaunch was generally considered to be a fair one -- not overly impressive butenough to make the NFT project worth such a new company’s valuable time andenergy. 

YetYuga Labs and its ragtag team were about to be in for a shock. Thanks to thecollection’s cool artwork and 12-hour sellout, interest exploded. It tookpractically no time at all for the NFTs to appear on Rarible and othersecondary markets where buyers were more than happy to purchase the digitalapes at a premium. The floor price near-instantly surpassed the original .08ETH fee and by December, was already up to right under 50 ETH, or about 225,000USD. Another month later and some of the BAYC’s rarer avatars found themselvesgoing (and selling!) for a few million Sotheby’s auction house. 

Injust under eight months, the Bored Ape NFTs had become a roaring successdespite many’s expectations that it would quickly crash and burn. And indeed,the BAYC is now bigger than ever. Some of the most famous names imaginable haveacquired an ape to call their own, every major publication from Rolling Stoneto Forbes has provided coverage on the Club, a mobile game has recentlylaunched, and Adidas has even partnered up with the BAYC for a bold leap intothe NFT game. 

Inother words, big things are happening. The Bored Ape Yacht Club is no longerjust an insulated non-fungible token project; it’s a full-out, mainstreambrand. Simultaneously exclusive and yet culturally-significant, the profitablecreation is bound to only grow from here. There’s no telling what will happennext, but we do know it’ll be worth sticking around for. 

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