What is the most popular and successful NFT brand today? A year after launching as a collection of 10,000 NFTs, Bored Ape Yach Club (BAYC) will have its own movies ”The Degen Trilogy ”. Is it feasible for an NFT collection to become a genuine mainstream brand? The Bored Ape Yacht Club is attempting this.
Almost exactly a year after being created as a set of 10,000 NFTs, Coinbase announced that a trilogy of BAYC movies would be released.
The first will debut in June, and it will be linked to Coinbase’s NFT marketplace, which has been anticipated for a long time.
Why The Degen Trilogy?
The Degen Trilogy is the name for the film series, which is produced by Coinbase. In crypto jargon, a “degen” is a popular and often affectionate term used to describe someone who purchases coins or NFTs without conducting any serious research into what they’re purchasing.
The first part will be shown for the first time at NFT NYC, a conference dedicated to nonfungible tokens that is held in New York every year between June 20 and June 23.
“We have an amazing collection of directors, writers, and animators working on this film,” Coinbase says on the film’s website. “We can’t tell you who they are just yet because you’ve seen their work before.”
BAYC – a status symbol?
BAYC is the most popular NFT collection in the world, having been established by Yuga Labs. Bored Ape NFTs are now out of reach for less than $300,000, having debuted for around $250 each.
The NFTs function as status symbols similar to how a CEO may show off a new Rolex to clients and coworkers on social media.
Finally, the NFTs function as memberships to a network of crypto and NFT traders: part of the allure of making money through these ties is why individuals are prepared to keep jpegs worth roughly $500,000.
The benefit of being an owner
Owners of Bored Ape Yacht Club NFTs will be able to audition their apes for the series. Each Bored Ape NFT has its own set of characteristics and accessories, and Coinbase is inviting owners to develop a backstory for their character.
If you choose to buy a NFT, the owner will receive a $10,000 licensing payment in bitcoin or ape coin, which is owned by Yuga Labs.
The BAYC brand belongs to Yuga Labs, but the NFTs grant their holders with license rights for only the particular ape they own. This has prompted some people to form a band and write a Bored Ape book by Neil Strauss.
BAYC influence on mainstream culture
BAYC has already broken away from the confines of NFT culture. On Twitter, celebrities including Eminem, Snoop Dogg, and Steph Curry use Bored Apes as their profile pictures. During a Tonight Show interview with Paris Hilton and Jimmy Fallon, the hosts discussed their ape-related issues.
The segment was widely mocked but was seen by a million people. It’s generated enough buzz to inspire a Rolling Stone cover and a special-edition magazine with a Bored Ape on the front. Adidas and Prada also have collaborated with it.
The main concern is just how big an NFT brand may develop. Buying into the Bored Ape Yacht Club by a dozen or so celebrities is one thing. To have hundreds of people concerned about NFTs to care about the Bored Ape Yacht Club is a much greater achievement.
