Yuga Labs developed The Bored Ape Yacht Club as an NFT collection on the Ethereum (ETH) network. The term “Ape” refers to each unique NFT.
These digital pieces of art feature, well, bored Sims. Although they all have a similar appearance and feel, no two Apes are the same due to their distinctive combinations of facial expressions, accessories, and attire.
This particular feature combination, or the relative rarity of each variety, may make the Bored Apes so well-liked. In the BAYC society, “rarity” is a formal indicator of each Ape’s individuality.
Apes are rated according to their rarity on specialized websites. Bored Ape No. 8135 recently has the most excellent “custom rarity score,” according to Rarity Tools. Bored Ape No. 8135 stands out for its silver stud earrings, psychedelic captain’s hat, and dagger in its mouth.
The artworks aren’t extraordinary, other than their rarity; they’re just photographs of monkeys. The fact that BAYC has gained cultural traction sets it apart from the competition.
Owning a Bored Ape is a ticket that gives the possessor admission to an elite membership club with benefits including clothing, parties, and ApeCoins (APE), among other things, according to the NFT cognoscenti.
The Bored Ape Yacht Club is short on yachts. A crypto CEO, boat owner, and NFT holder want to change everything.
A brand-new civic initiative called The Bored Yachts Club seeks to provide NFT owners with unique access to yacht rental alternatives.
It comes from a Bored Ape Yacht Club NFT owner who is also the CEO of a cryptocurrency company and a yacht owner.
Ten thousand bored-looking Apes, to be exact, are available at the Bored Ape Yacht Club, although there don’t seem to be many boating options. A yacht owner and Bored Ape NFT holder want to change that by starting a decentralized yachting club.
The Bored Yachts Club wants to build a decentralized, NFT-gated yachting platform where users can charter actual boats anywhere and donate the rental fees to charitable causes. The project will start with “Lady Amanda,” the exclusive yacht owned by club founder Jad Comair, but over time, other yacht owners are expected to join while having the option to donate to causes of their choosing.
A Bitcoin-themed ETF focused on companies in the cryptocurrency industry was introduced in 2021 by Melanion Capital, a French investment company founded and led by Comair. He revealed to Decrypt that much earlier, in 2014, he started investing in the most popular cryptocurrency.
I was able to purchase my first yacht because of Bitcoin, he claimed.
Over the past few years, digital products including profile images, a la Bored Ape, digital artwork, and collectibles have proliferated. An NFT is a blockchain currency used to represent ownership of an item. The Bored Ape Yacht Club is one of the industry’s most significant achievements to date, and the market generated $25 billion in trade volume in just 2021.
Comair, an art collector, was drawn to NFTs and claimed that the celebrity-studded Bored Ape Yacht Club resonated with him as a sort of digital identity—in addition to the possible financial opportunities.
Bored Ape NFT owners are granted unrestricted permission by Yuga Labs to use their original artwork in any derivative projects and works. Others have made clothing, toys, food and marijuana packaging, and even themed fast food restaurants using their apes. Comair chose to transform his Ape into a fictional yacht’s captain and mascot.
Later this year, his Bored Yachts Club will host an NFT drop, and he thinks that the Ape (#634), which he calls John Blackeye, would help draw NFT aficionados to his business (most likely on Ethereum). The 8,200 NFT passes, covering three distinct benefit levels, will grant access to a portal that offers yachts for rent.
Participants won’t need to own a genuine Bored Ape NFT to purchase and utilize one of these NFT membership passes, and there is no official affiliation between the Bored Yachts Club and Yuga Labs. Comair told Decrypt that although the idea of a decentralized network for boat rentals predates his ownership of Apes, the atmosphere is correct, and the thematic pairing was fortunate.
The neighborhood is called Bored Ape Yacht Club, he claimed. “In my judgment, a few yachts were missing.”
Comair’s 30-meter-long “Lady Amanda” sails the Mediterranean while loaded with toys for the water. Members of the soon-to-be-established NFT club will be able to bid on rental windows, with all earnings going to a cause of the boat owner’s choosing. Alternatively, they can let the community decide how the money is used for good deeds.
The platform is intended to draw more yacht owners from all over the world, which, according to Comair, can help them achieve their dual goals of filling up open charter windows (when the boat isn’t being chartered) and contributing to charitable causes.
He added the boat leasing market: “It’s remarkable how much emptiness you have in this industry. “The goal is to close this gap—there are boats that are vacant and individuals who cannot use them.”
He claims to have more ambitious goals for the Bored Yachts Club. For instance, he believes it would increase awareness of yachting and perhaps introduce “revolutionary technology” to the sector. He continued, “We don’t have the Tesla of yachting.”
Additionally, Comair views the Bored Yachts Club as a potential first step toward a “crypto city”-style marina, given that boats can operate in international waters outside of land-based laws. Plans for crypto cities have been implemented elsewhere to varying degrees, but Comair’s program has a maritime theme.
The plan is to build a genuine yacht club with a Bored Ape theme that is NFT-gated, at least shortly. In addition to the philanthropic component, a YachtCoin token is intended to be released. He believes that between future token price increases and NFT pass royalties, there might be profitable for both brokers and owners of yachts.
The Bored Yachts Club has a different goal in mind since the original Bored Ape Yacht Club’s journey led to the metaverse with the forthcoming release of the Otherside game.
Comair added, “Instead of a metaverse at the end, you get a ‘yachtverse,’ where you essentially enjoy yachting instead of video games.”