The Bored Ape Kennel Club is a collection of 10,000 NFTs based on the Ethereum network and stored as ERC-721 tokens. The collection was given to the owners of BAYC completely free.
9,600 dogs got their companions; however, the remaining were released into the swamp.
In May 2022, the dogs made headlines when Bored Ape Kennel Club’s Dog #5034 was purchased for 8.179 ETH
Brief history of BAKC
Released by Yuga Labs on June 18, 2021, the BAKC collection is quite new, as it was launched only a year ago. The mint got over on June 25 and the dogs were disclosed to their respective owners.
Introducing the Bored Ape Kennel Club.https://t.co/s0Ri7jppoJ pic.twitter.com/i6sRAfK6Wf
— Bored Ape Yacht Club (@BoredApeYC) June 18, 2021
During the initial six weeks of trading the collection, on secondary sales, Yuga Labs held 2.5% royalty plus another 2.5% fee via OpenSea.
The extra trading fee was donated to no-kill animal shelters like Wright-Way Rescue and The Giving Block.
Benefits of a BAKC NFT
A BAKC NFT provides direct access to the BAYC community as well as events, which means opportunities to earn rewards.
A BAKC NFT is also said to offer staking perks in the future.
Though the NFTs have a certain utility, since they have fewer uses than Bored Apes, their floor price is less as well.
BAKC NFT comes with the right to full artwork ownership.
Estimating the dogs
The Bored Apd Kennel Club is flooded with variety. Each dog is rare and features 1 among the 170 different characteristics.
A dog differs from another on the basis of its individual traits, which also makes it rarer than the other. Eyes, fur, neck, feet, mouth, and head individualize a dog. Also, the backpack accessory of every dog is different, along with a diverse background and one among the nine themes.
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Major considerations
The dogs are differentiated based on 8 categories that include fur, eyes, mouth, background, head, back, feet, and neck.
Coming to the background, they include a swamp, outhouse, bar, SS Monke Biz, and club exterior.
The fur can be of any type like pink, black, tan, brown, DMT, galaxy, death bot, cheetah, robot, Cyberpunk, and radioactive.
The back can include a Cyberpunk pack, mega-rocket launcher, service vest, doggie pack, basketball hoop, toilet paper dispenser, and beer saddle.
Each dog has one theme like combat, alcohol, golden, zombie, robot, Bayc, Cyberpunk, water and trippy.
A dog can have more than one trait. As obvious, cost of an NFT depends on the rarity of its traits.
Buying a BAKC NFT
Many reputed marketplaces sell BAKC; however, most of the trading volume takes place on OpenSea. To buy the NFT effortlessly, here are some simple steps.
The first step begins with an online account. Buying ETH via a crypto exchange is necessary. Wait for some days to make sure the ETH can be sent off the exchange.
The second step is downloading or buying a crypto wallet. A software wallet can be downloaded. For increased safety, a hardware wallet is a better option.
Now is the time to fuel the crypto wallet with cryptocurrency. ETH tokens must be transferred to the crypto wallet.
After adding the ETH into the wallet, the wallet must be connected to a marketplace. Next, browse the marketplace and find the NFT that looks worth buying. The NFT can be bought using the ‘Buy Now’ feature.
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A good investment?
Prices of tokens are speculative. Undoubtedly, BAYC is among one of the most active and influential projects in the NFT world, and being its integral part, BAKC has the lowest floor price; however, the dogs do not provide access to BAYC. Moreover, they lack utility, plus their value depends on the community as well as the perks offered.
Current Statistics
At the moment, there are 5551 owners of the NFT at a floor price of 8.49 ETH. The 7-day volume is 994.36 ETH, and the total volume is 105,835.79 ETH with a 7-day average price of 8.72 ETH.
FAQs
The Bored Ape Kennel Club is a collection of 10k Dog NFTs that are not available for sale; hence, can only be claimed.
BAYC owners minted the Bored Ape Kennel Club before the collection was made public. After minting, a BAKC token appeared in their wallet. Dogs that were not minted were released into the swamp.
