The Complete Guide to Bored Ape Kennel Club
The Bored Ape Kennel Club was brought to us by Yuga Labs, creators of the famous Bored Ape Yacht Club (often shortened to BAKC). This collection, as the name suggests, features dogs rather than apes, but these are no ordinary canine companions. As you will see, their uniqueness, plus the caliber of their creators, helps explain why the NFTs from the collection remain hugely popular and have a floor price well above more artistically impressive offerings.
What is the Bored Ape Kennel Club?
The rationale for the creation of the Bored Ape Kennel Club was to give every Bored Ape a “four-legged companion”. This gave rise to the announcement of 10,000 digital canines of various design and dress, with every Bored Ape NFT owner entitled to a free Bored Ape Kennel Club NFT. Yuga Labs announced the doggy “adoption drive” on June 18, 2021, although owners had just one week to put in their request. Some missed out, which explains why only 9,602 BAKC NFTs have been minted.
What are Bored Ape Kennel Club traits?
The Bored Ape Kennel Club collection has 8 different trait categories sharing a total of 170 traits between them:
As we can see, the mouth has the highest number of different appearances while at the other end only five different backgrounds are represented. There is also a huge range of rarity within the categories themselves. For example, there are 1,694 BAKC NFTs with closed eyes and only 64 with blue beams for eyes. These differences show just how much variety there is in the overall rarity of the NFTs, with some lucky Bored Ape owners being handed very rare specimens while others have much more common ones.
How does the trade combination impact the price of Bored Ape Kennel Club NFTs?
Certain traits can make a big difference when it comes to the value of your Bored Ape Kennel Club NFT. For example, the 33 NFTs that have a party hat have a floor price of 38 ETH, 10 ETH more than the second most valuable trait – solid gold fur. At the other end, BAKCs with a tie are the cheapest on the market, even though only 202 of them have ties out of the 9,602 in the collection.
This shows that rarity of a trait does not always guarantee a higher average price and that buyers must consider other factors too.
How you can trade Bored Ape Kennel Club NFTs?
Even if you own a Bored Ape NFT, the chance to mint a canine companion has long gone. OpenSea is now the home of the Bored Ape Kennel Club NFT collection, and with the floor price being 8 ETH you’ll need at least this to buy even the most common one. You can also sell your Bored Ape Kennel Club NFT here if you no longer want the responsibility of looking after a dog.
Almost 10% of the Bored Ape Kennel Club NFT collection is for sale on OpenSea, with interested buyers able to snap one up in seconds by using the ‘buy it now’ option or they can make an offer if the BAKC in question is up for auction.
What was the most expensive Bored Ape Kennel Club NFT?
The most expensive Bored Ape Kennel Club NFT ever sold was BAKC #8800 which was sold on August 6, 2021 for 75 ETH ($217,000). Once again we can look at the traits of this NFT to see why it might have attracted such a high price – two of its traits, head and neck, had values shared with 0.34% and 0.87% of the collection respectively, making it the 8th rarest Bored Ape Kennel Club NFT in the collection.
Where can you find Bored Ape Kennel Club NFTs for Sale?
OpenSea is the only place where you can buy Bored Ape Kennel Club NFTs now, with the floor price of 8 ETH meaning they are an investment rather than an impulse purchase. To ensure you have the genuine Bored Ape Kennel Club collection, make sure you see a blue ‘verified’ tick next to the collection name on the OpenSea site.
How can you buy a Bored Ape Kennel Club NFT?
OpenSea lets you either purchase a Bored Ape Kennel Club NFT outright, providing it’s for sale, or place a bid if it’s not. This is easily done through the ‘buy it now’ or ‘make an offer’ options that appear next to the BAKC NFT you’re interested in. Make sure you have ETH in your wallet to pay the transaction fee.
It cannot be disputed that the Bored Ape Kennel Club owes its success largely because of the infamy of the Bored Ape Yacht Club, which helps it keep its floor price high. While this collection will never hit the lofty heights of its simian ancestor, its members may find a useful spot in the Bored Ape metaverse, The Otherside, giving it some utility too.