What is Yuga Labs going to do? YugaLabs created the ape image NFT, which created a whirlwind. Later, the wind became larger and larger, and even the trading volume came out of the cryptocurrency circle. On December 1, ALTAVAGroup, a company trying to bring the luxury fashion circle into the meta universe, announced that it would join the YugaLabsBoredApeYachtClub Club (BAYC Bored Ape) ecosystem, a derivative NFT series of Bored Ape. This article will answer for you.
1、 What is YugaLabs going to do?
On December 1, ALTAVAGroup, a company trying to bring the luxury fashion circle into the meta universe, announced that it would join the BoredApeYacht Club (BAYC boring ape) ecology of YugaLabs, and BoredApeGolf Club (BAGC), a derivative NFT series of boring ape.
On November 15, YugaLabs announced the acquisition of NFT creation platform WENEWLabs and its flagship NFT series 10KTF, and hired 10KTF digital artists Beeple and Michael Figge as consultants in the design team.
There are more and more signs that YugaLabs, which started NFT from its release, doesn't want to be an NFT publisher anymore. It brings many digital IPs into its bag - BAYC, which started the NFT wave, is its original work, MAYC, the mutant ape, is its derivative product, and CryptoPunks and Meebits, two blue chip NFTIPs, are acquired from LarvaLabs. Now, the 10KTF joined by the famous digital artist Beeple belongs to its command, There are many NFT related projects like ALTAVAGroup flowing into its ecology.
With so many NFT digital IPs in hand, YugaLabs, what are you going to do? Selling blue chip NFT is a conventional route, so it is not surprising to let NFT go from digital online to offline. BAYC and CryptoPunks have been purchased and recreated by some physical brands, but if only YugaLabs is regarded as NFT seller, it is really underestimated.
As you know, it is also a token of APE issued in the name of an autonomous organization, and plans to use Otherside as a meta universe game platform.
If the NFT digital carrier is regarded as a person (virtual identity or image) or an object (commodity), the Otherside is built on the bottom of the Web digital word space. Token can establish economic relations for this space - so a printed YugaLabsLOGO meta universe looms.
And all this starts with a group of monkeys.
2、 Why is the leader of Monkey Army prosperous?
YugaLabs created the ape image NFT, which created a whirlwind. Later, the wind became larger and larger, and even the trading volume came out of the cryptocurrency circle. The BoredApeYacht Club, or BAYC for short, is translated as the "boring ape club". A group of ape pictures with different appearances, different accessories and most of the lazy ones are randomly generated on the Ethereum blockchain network, but each picture has a unique chain code. This differentiated digital asset is called NFT. On NFT, the 10000 ape heads issued by YugaLabs are not the ancestors.
In June 2017, Pixel Man NFT Series CryptoPunks was born, but unfortunately, it was born at the wrong time, and it was not until four years later that NFT returned to the Jianghu. It is very popular. Sharp players began to look for the next extraordinary product, and boring ape BAYC came to us.
When it was first issued, the casting cost of BAYC was only 0.08ETH (the current value was about $190). With the cooling of the cryptocurrency asset market, the NFT market has cooled. However, the price of BAYC series flooring is still about 69ETH, about $89700. According to third-party data websites, NFT's series trading volume in recent seven days was 14.52 million US dollars, ranking first in NFT sector.
From the beginning of 2021 to now, new projects on the NFT market have been emerging. The data shows that in less than two years, tens of thousands of new projects NFT have been born in various blockchains, creating a sales volume of 10 million dollars. BAYC has always been prosperous, firmly occupying the top position of the transaction volume. The reason is that openness is an important reason for BAYC's longevity.
After YugaLabs released BAYC series, supporters set it as social media avatar. Web3 products are linked with more familiar public Web2 products, and BAYC quickly opens its popularity. Having a boring ape head not only means that you can join the small circle of BAYC community, but also is the tacit certification of cryptocurrency enthusiasts. With the rising price of digital monkeys, the trend statement of young people has even become a symbol of wealth. Social media avatars are just one of BAYC's purposes.
When the circulation of YugaLabs Open Funny Ape NFT occurs, the ownership and commercial use right of this series will also be transferred, and the holder can commercialize it. Therefore, the shoes with the image of boring apes, T shirts, mugs and other peripheral goods appear, and BAYC monkeys become a digital IP. Soon, the real brand that thought it was valuable came.
China's Li Ning purchased # 4102BAYC, and made shoes, clothing and other products in this image, taking it as the manager of offline flash stores; Adidas bought # 8774BAYC, named the boring ape system "IndigoHerz" with this number as its meta universe character, and designed virtual clothing and physical clothing around it.
What does YugaLabs do with the above content? Why is the leader of Monkey Army prosperous? Answer these two questions. After BAYC became an expensive IP, YugaLabs struck while the iron was hot and thought that the holders could increase their playing methods so that non holders could own it at a low price.