That was until Yuga Labs came along. That's the company behind the $3 billion Bored Ape Yacht Club (BAYC) collection. Unlike most NFT projects before it, Yuga Labs introduced new and improved strategies for enabling engagement and building a sustainable NFT ecosystem.
What is bored ape Yacht Club?
It coincided almost perfectly with the launch of Bored Ape Yacht Club, a collection of 10,000 cartoon ape NFTs that's come to embody the whole industry. BAYC has over the past year become a bellwether for NFTs, just like bitcoin is for the crypto market at large.
How much do bored ape Yacht Club NFTS cost?
Bored Ape Yacht Club NFTs cost $190 at launch last April. Now they go for over $400,000. NFTs have been around for five years, but the nonfungible token boom only truly began in 2021. It coincided almost perfectly with the launch of Bored Ape Yacht Club, a collection of 10,000 cartoon ape NFTs that's come to embody the whole industry.
