Bored Ape NFTs Celebrate Its 2nd Anniversary – Here’s What Has Been Driving Its Growth

Updated: 24 April 2023

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Bored Ape Yacht Club, a non-fungible token collection from digital assets incubation studio Yuga Labs, has turned two years since joining the nascent NFT sector. The Bored Ape NFTs have remained the top-ranking assets in market capitalization.

Bored Ape NFT Collection Turns Two Years

Launched in April 2021, Bored Ape Yacht Club is a non-fungible token from famous NFT pioneer Yuga Labs. The NFT collection comprises a limited edition of 10,000 NFT on the Ethereum network. Bored Ape NFTs collection features profile pictures of cartoon apes that are procedurally generated by an algorithm.

Since its inception, the Ethereum-based NFT collection has been one of the most successful NFT projects in the crypto industry. In a previous tweet, Yuga Labs noted it had “no idea” its Bored Ape Yacht Club NFT project would grow “this big.”

Happy 2 year anniversary to the Bored Ape Yacht Club. Community led projects have brought the BAYC places we never expected. Can’t wait to see what comes next. pic.twitter.com/PGN48cL0Un

— Bored Ape Yacht Club 🍌 (@BoredApeYC) April 23, 2023

The Top Secrets Behind Bored Ape NFTs Success

Yuga Labs began plotting the “Big Idea” about Bored Ape Yacht Club in early 2021 after observing how the CryptoPunk NFTs became a sort of cultural currency. The team examined how “crypto Twitter” was beginning to flourish and combined the new art with community members to win trust.

Moreover, the Bored Ape Yacht Club creator has applied the “Law of a Few” and used a few crypto influencers and celebrities to promote its new NFT collection. The Bored Ape Yacht Club NFTs have become one of the most successful NFT projects.

Bored Ape NFTs Market Health

Last month, Bored Ape NFTs amassed more than 22,000 ETH in trading sales volume. As of last week, the NFT collection has already generated 17,000 ETH, recording a sale volume of 1,600 ETH in the past 24 hours.

Bored Ape Yacht Club Performance: CoinGecko.com

Bored Ape Yacht Club NFT collection has reacted sharply on its birthday surging by 2.6% on its floor price. According to CoinGecko, the NFT collection has a floor price of 50.91 ETH and a market capitalization of $970 million. The NFT collection ranks third among ten top-selling NFTs collections.