{"id":400907,"date":"2022-01-29T15:00:41","date_gmt":"2022-01-29T12:00:41","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/what-is-a-bored-ape-nft\/"},"modified":"2022-01-29T15:00:41","modified_gmt":"2022-01-29T12:00:41","slug":"what-is-a-bored-ape-nft","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/what-is-a-bored-ape-nft\/","title":{"rendered":"#What Is a Bored Ape NFT?"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_84 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a2896eede33d\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a2896eede33d\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/what-is-a-bored-ape-nft\/#NFT_Avatars_in_a_Nutshell\" >NFT Avatars in a Nutshell<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/what-is-a-bored-ape-nft\/#So_Whats_Up_With_The_Monkey_Business\" >So What\u2019s Up With The Monkey Business?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/buradabiliyorum.com\/en\/what-is-a-bored-ape-nft\/#OK_But_Why_Are_They_Worth_Anything\" >OK, But Why Are They Worth Anything?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/buradabiliyorum.com\/en\/what-is-a-bored-ape-nft\/#Celebrities_Are_Going_Bananas_for_Bored_Apes\" >Celebrities Are Going Bananas for Bored Apes<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/buradabiliyorum.com\/en\/what-is-a-bored-ape-nft\/#Why_Are_NFTs_Exploding\" >Why Are NFTs Exploding?<\/a><\/li><\/ul><\/nav><\/div>\n<p><strong>&#8220;#What Is a Bored Ape NFT?&#8221;<\/strong><\/p>\n<div>\n<figure style=\"width: 1200px\" class=\"wp-caption alignnone\"><img loading=\"lazy\" decoding=\"async\" class=\"type:primaryImage wp-image-782702 size-full\" data-pagespeed-lazy-srcset=\"https:\/\/www.howtogeek.com\/wp-content\/uploads\/2022\/01\/shutterstock_2099895151.jpg?width=398&amp;trim=1,1&amp;bg-color=000&amp;pad=1,1 400w, https:\/\/www.howtogeek.com\/wp-content\/uploads\/2022\/01\/shutterstock_2099895151.jpg?width=1198&amp;trim=1,1&amp;bg-color=000&amp;pad=1,1 1200w\" sizes=\"auto, 400w, 1200w\" data-pagespeed-lazy-src=\"https:\/\/www.howtogeek.com\/wp-content\/uploads\/2022\/01\/shutterstock_2099895151.jpg?width=1198&amp;trim=1,1&amp;bg-color=000&amp;pad=1,1\" alt=\"Bored Ape Yacht Club ape NFTs.\" width=\"1200\" height=\"675\" data-crediturl=\"https:\/\/www.shutterstock.com\/image-photo\/bored-ape-4873-nft-digital-art-2099895151\" data-credittext=\"mundissima\/Shutterstock.com\" src=\"\/pagespeed_static\/1.JiBnMqyl6S.gif\" onload=\"pagespeed.lazyLoadImages.loadIfVisibleAndMaybeBeacon(this);\" onerror=\"this.onerror=null;pagespeed.lazyLoadImages.loadIfVisibleAndMaybeBeacon(this);\"\/><figcaption class=\"wp-caption-text\"><span class=\"type:primaryImage imagecredit\"><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.shutterstock.com\/image-photo\/bored-ape-4873-nft-digital-art-2099895151\">mundissima\/Shutterstock.com<\/a><\/span><\/figcaption><\/figure>\n<p>If you\u2019re scratching your head at the deluge of Gorillaz-style monkey avatars everywhere on the web, congratulations! You\u2019ve just had your first encounter with the <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/boredapeyachtclub.com\/#\/\">Bored Ape Yacht Club<\/a>, and it might make even less sense than you imagine.<\/p>\n<h2 role=\"heading\" aria-level=\"2\"><span class=\"ez-toc-section\" id=\"NFT_Avatars_in_a_Nutshell\"><\/span>NFT Avatars in a Nutshell<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Before we can even touch what the whole Bored Ape thing is about, you need to know a few fundamental things about NFTs or\u00a0<em>Non-fungible Tokens.<\/em> We\u2019ll go over the least you need to know for it all to make sense, but you can check out our NFT explainer\u00a0for the complete rundown.<\/p>\n<p>NFTs are cryptographic tokens on a blockchain. A blockchain is a public record of transactions that can\u2019t be altered. Blockchains are usually decentralized, which means that no one owns or controls them.<\/p>\n<p>A \u201ctoken\u201d on a blockchain is a unique string of numbers that can be assigned to a \u201cwallet\u201d, which is in turn controlled by someone. NFTs are non-fungible tokens because each one is totally unique. That\u2019s as opposed to a dollar bill, which can be exchanged for any other dollar bill without changing anything about its value. Gold, money, and bananas are all fungible.<\/p>\n<p>The avatars you see online aren\u2019t the actual NFTs! Instead, each of those images is associated with a specific NFT. A third-party entity, such as the <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/opensea.io\/\">OpenSea marketplace<\/a>, maintains a record of the images and which token represents them.<\/p>\n<p>The last thing you need to know is that NFTs can be traded, or sold for currencies such as US dollars, Bitcoin, or Ethereum. The last one is pretty important because NFTs are <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/general\/\" data-internallinksmanager029f6b8e52c=\"3\" title=\"General\" target=\"_blank\" rel=\"noopener\">general<\/a>ly \u201cminted\u201d on the Ethereum blockchain.<\/p>\n<h2 role=\"heading\" aria-level=\"2\"><span class=\"ez-toc-section\" id=\"So_Whats_Up_With_The_Monkey_Business\"><\/span>So What\u2019s Up With The Monkey Business?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<figure style=\"width: 650px\" class=\"wp-caption alignnone\"><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-782703 size-full\" data-pagespeed-lazy-src=\"https:\/\/www.howtogeek.com\/wp-content\/uploads\/2022\/01\/nft-avatars.jpg?trim=1,1&amp;bg-color=000&amp;pad=1,1\" alt=\"Pixel art NFT avatars on a smartphone and computer.\" width=\"650\" height=\"433\" data-crediturl=\"https:\/\/www.shutterstock.com\/image-photo\/vilnius-lithuania-march-8-2021-nonfungible-1932205373\" data-credittext=\"Rokas Tenys\/Shutterstock.com\" src=\"\/pagespeed_static\/1.JiBnMqyl6S.gif\" onload=\"pagespeed.lazyLoadImages.loadIfVisibleAndMaybeBeacon(this);\" onerror=\"this.onerror=null;pagespeed.lazyLoadImages.loadIfVisibleAndMaybeBeacon(this);\"\/><figcaption class=\"wp-caption-text\"><span class=\"imagecredit\"><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.shutterstock.com\/image-photo\/vilnius-lithuania-march-8-2021-nonfungible-1932205373\">Rokas Tenys\/Shutterstock.com<\/a><\/span><\/figcaption><\/figure>\n<p>The Bored Ape avatars are a type of NFT image known as a \u201cgenerative\u201d image. There are various takes on this and NFT pioneers <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.larvalabs.com\/\">Larvalabs<\/a>, famous for their similar <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.larvalabs.com\/cryptopunks\">Cryptopunks avatars<\/a>, are possibly the earliest example before the boom.<\/p>\n<p>Essentially, an outfit like Larvalabs will generate a set of avatar images using a random generation method that mixes and matches character art elements almost like a video <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/game\/\" data-internallinksmanager029f6b8e52c=\"7\" title=\"Game\" target=\"_blank\" rel=\"noopener\">game<\/a> character creator. This ensures that every image is unique. You can look at it as a set of trading cards, but there\u2019s only one copy of each card in the set.<\/p>\n<p>Once the initial run of NFTs is purchased from the creators of the set, the monkey-trading begins. Owners of these NFTs can put them up for sale and see if there are any takers, and boy have there been some takers. Bored Ape Yacht Club NFT sales have totaled over <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/markets.businessinsider.com\/news\/currencies\/bored-ape-yacht-club-nft-sales-1-billion-opensea-bayc-2022-1\">1\u00a0<em>billion\u00a0<\/em>dollars<\/a> alone. The current record for a <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/redirect.viglink.com\/?key=204a528a336ede4177fff0d84a044482&amp;u=https%3A%2F%2Fhypebeast.com%2F2021%2F10%2Fbored-ape-yacht-club-nft-3-4-million-record-sothebys-metaverse\">Bored Ape NFT is $3.4 million<\/a>, although more typically they sell in the hundreds of thousands.<\/p>\n<h2 role=\"heading\" aria-level=\"2\"><span class=\"ez-toc-section\" id=\"OK_But_Why_Are_They_Worth_Anything\"><\/span>OK, But Why Are They Worth Anything?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The simplest answer to this is because people say they are worth something. This might sound a little trite, but the truth is that value is subjective. Humans tend to value things that are scarce or unique more than things that are commonplace and plentiful. We have irrational attachments to certain things too. A perfect replica of Elvis Presley\u2019s white jumpsuit might be worth a few hundred bucks, but the one that Elvis actually wore is worth more than a <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/redirect.viglink.com\/?key=204a528a336ede4177fff0d84a044482&amp;u=https%3A%2F%2Fparade.com%2F1258636%2Flindsaylowe%2Felvis-presley-white-jumpsuit-outfit-sold-at-auction-find-out-price%2F\">million dollars<\/a>.<\/p>\n<p>The real-world examples of things that have little intrinsic value (e.g. Issue 1 of Action Comics), but then sell for <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.supermanhomepage.com\/action-comics-1-sells-for-record-price\/\">insane amounts<\/a>. NFTs are worth what people are willing to pay for them, the hard part was convincing people to buy them in the first place, which is easier if you have a little help from a famous friend!<\/p>\n<h2 role=\"heading\" aria-level=\"2\"><span class=\"ez-toc-section\" id=\"Celebrities_Are_Going_Bananas_for_Bored_Apes\"><\/span>Celebrities Are Going Bananas for Bored Apes<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<figure style=\"width: 650px\" class=\"wp-caption alignnone\"><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-782704 size-full\" data-pagespeed-lazy-src=\"https:\/\/www.howtogeek.com\/wp-content\/uploads\/2022\/01\/ape-cash.jpg?trim=1,1&amp;bg-color=000&amp;pad=1,1\" alt=\"Bored Ape #9055 displayed on a smartphone on a pile of cash.\" width=\"650\" height=\"433\" data-crediturl=\"https:\/\/www.shutterstock.com\/image-photo\/bored-ape-yacht-club-9055-nft-2101462063\" data-credittext=\"mundissima\/Shutterstock.com\" src=\"\/pagespeed_static\/1.JiBnMqyl6S.gif\" onload=\"pagespeed.lazyLoadImages.loadIfVisibleAndMaybeBeacon(this);\" onerror=\"this.onerror=null;pagespeed.lazyLoadImages.loadIfVisibleAndMaybeBeacon(this);\"\/><figcaption class=\"wp-caption-text\"><span class=\"imagecredit\"><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.shutterstock.com\/image-photo\/bored-ape-yacht-club-9055-nft-2101462063\">mundissima\/Shutterstock.com<\/a><\/span><\/figcaption><\/figure>\n<p>Whether we like to admit it or not, celebrities and other influencers have an effect on how we live our lives and, in particular, how we spend our money. This is at least partly because of the \u201c<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.simplypsychology.org\/halo-effect.html\">halo effect<\/a>\u201d where one positive trait (such as being a beautiful actor) makes us think of someone as having other positive traits, such as intelligence or trustworthiness.<\/p>\n<p>It\u2019s hard to tell if a tweet like this one by <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/GwynethPaltrow\/status\/1486482496883625984\">Gwyneth Paltrow<\/a> or a weird interview between <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.forbes.com\/sites\/danidiplacido\/2022\/01\/25\/awkward-moment-between-paris-hilton-and-jimmy-fallon-shows-the-absurdity-of-nfts\/?sh=40434d66adee\">Jimmy Fallon and Paris Hilton<\/a>\u00a0are the result of sincere enthusiasm or cynical profit, but they provide the <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.psychologynoteshq.com\/social-proof\/\">social proof<\/a> members of the public who are confused about NFTs need to take an interest in them.<\/p>\n<p>Celebrity involvement in NFTs, especially the Bored Ape Yacht Club, also makes sense thanks to extra perks that come with Yacht Club membership. For example, there\u2019s an exclusive Discord server, and you might get invited to <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.theverge.com\/22824387\/bored-ape-yacht-club-nft-party-new-york\">exclusive parties<\/a> where you might run into famous Bored Ape owners such as <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/redirect.viglink.com\/?key=204a528a336ede4177fff0d84a044482&amp;u=https%3A%2F%2Ffortune.com%2F2022%2F01%2F03%2Feminem-nft-bored-ape-yacht-club%2F\">Eminem<\/a>\u00a0(who spent $462 000 on his Bored Ape) or <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/boardroom.tv\/bored-ape-nft-celebrity-owners\/\">Snoop Dogg\u00a0<\/a><\/p>\n<h2 role=\"heading\" aria-level=\"2\"><span class=\"ez-toc-section\" id=\"Why_Are_NFTs_Exploding\"><\/span>Why Are NFTs Exploding?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Whether it\u2019s a Bored Ape, a Crypto Punk, or a <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/opensea.io\/collection\/lazy-lions\">Lazy Lion<\/a>, there\u2019s no denying that NFTs like these are white-hot right now. It\u2019s easy to fall into the trap of assigning a single reason why that might be the case, but in the real world any trend usually has multiple drivers. We\u2019ll probably never know what\u2019s behind the perfect storm that blew up NFTs into a mainstream, late-night TV topic, but there are a few likely factors.<\/p>\n<p>For one thing, in world of mass production, owning anything that\u2019s one-of-a-kind\u2014even a string of charaters on a computer!\u2014has a certain allure. Some people <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/caviar.global\/\">encrust their iPhones in diamonds<\/a>, too.<\/p>\n<p>Being part of an exclusive club is also a potent motivator. A crypto yacht club is ultimately the same as a real yacht club, and it seldom has anything to do with yachts.<\/p>\n<p>Lastly, NFTs are a goldrush. Just as with cryptocurrencies, people want to get in early and make their fortunes from those who are late to the party\u2014a party which they now have the required ticket to join.<\/p>\n<\/div>\n<p><script async src=\"\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p><script>\n setTimeout(function(){\n  !function(f,b,e,v,n,t,s)\n  {if(f.fbq)return;n=f.fbq=function(){n.callMethod?\n  n.callMethod.apply(n,arguments):n.queue.push(arguments)};\n  if(!f._fbq)f._fbq=n;n.push=n;n.loaded=!0;n.version='2.0';\n  n.queue=[];t=b.createElement(e);t.async=!0;\n  t.src=v;s=b.getElementsByTagName(e)[0];\n  s.parentNode.insertBefore(t,s) } (window, document,'script',\n  'https:\/\/connect.facebook.net\/en_US\/fbevents.js');\n   fbq('init', '335401813750447');\n   fbq('track', 'PageView');\n  },3000);\n<\/script><\/p>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more like this article, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/technology\/\" target=\"_blank\" rel=\"noopener\">Technology category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/www.howtogeek.com\/764192\/what-is-a-bored-ape-nft\/\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;#What Is a Bored Ape NFT?&#8221; mundissima\/Shutterstock.com If you\u2019re scratching your head at the deluge of Gorillaz-style monkey avatars everywhere on the web, congratulations! You\u2019ve just had your first encounter with the Bored Ape Yacht Club, and it might make even less sense than you imagine. NFT Avatars in a Nutshell Before we can even&#8230;<\/p>\n","protected":false},"author":1,"featured_media":400908,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/www.howtogeek.com\/wp-content\/uploads\/2022\/01\/shutterstock_2099895151.jpg?height=200p&trim=2,2,2,2","fifu_image_alt":"","footnotes":""},"categories":[18],"tags":[],"class_list":["post-400907","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-technology"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/400907","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=400907"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/400907\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/400908"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=400907"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=400907"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=400907"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}