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The Bored Ape Kennel Club or BAKC is a new and interesting NFT project that has spurred lots of interest because of its connection to the Bored Ape Yacht Club or BAYC. Just like the name suggests, BAKC introduces a lineup of dog pets for the BAYC apes. Welcome to NFT Droppers, where we dive deep into one of the fastest-growing NFT projects of the year – Bored Ape Kennel Club and how it fits into the crypto-narrative.
Who and What is the Bored Ape Kennel Club
The Bored Ape Kennel Club is a collection of 10k PFP (profile picture) NFTs of unique digital dogs introduced as side characters to the Bored Ape Yacht Club. To increase association between the two sets BAYC holders were gifted a BAKC dog for free. Each BAKC combine various characteristics thus making them easy to tell apart like the Bored Ape Yacht Club, and still, its NFTs are as rare as titanium.
Why BAKC NFTs So Expensive?
Exclusive Access: AKIT, BAYC, and others are only accessible as rental spaces to Own Your Own NFT for BAKC and Blase to enjoy events related to BAYC. This has ensured that the collection gathers a lot of demand from people interested in crypto and NFTs.
Strong Branding: Since BAKC collection is related and inspired by Bored Ape Yacht Club, the success achieved by this NFT project has increased the value of BAKC. The same way BAYC grows in popularity, so does its canine counterparts.
Scarcity: The third and final intrinsic characteristic is also common in most other NFT projects; BAKC is a rare product, as the total amount of NFTs is quite small. Some Owners were lucky to be allocated a limited number of dogs and those who received the same were very lucky as they had rare items.
Cultural Significance: BAKC has continued to evolve from a simple repository of digital assets; it now fits into the burgeoning culture of NFTs. The ups of this collection have been as a result of being associated with membership of the Bored Ape Yacht club.
The Unique Value Proposition of Bored Ape Kennel Club (BAKC)
BAKC is not just another NFT project; it is a deliberate offshoot of, and continuation from, the Bored Ape Yacht Club. These are 10k 1/1 digital dogs which was launched as the ‘friends’ of the Bored Apes and understanding the relation between the two is relevant. Yet another important point is that BAKC gifted a BAKC dog to all BAYC holders, which connected these two successful projects seamlessly. The dogs are characterized by breed, colour of the fur, and sometimes accessories, which means collectors shall never lack variety to choose from. The scarcity of these BAKC NFTs is the second prong as BAKC ‘s NFTs are very limited and owning them gives the holder membership privileges including access to private events and collaborations within the BAYC family. Given how interconnected the Bored Ape Kennel Club is with BAYC, owning a membership card is an absolute necessity for every serious NFT minimalist and collector who wants to be part of this emerging and highly effective community.
That is why NFTs created as part of the Bored Ape Kennel Club collection is so popular.
BAKC was among the most popular NFT collections, and there are several explanations why this happened with it. Scarcity is another factor causing people’s interest, since having a BAKC NFT means getting into the select club of BAYC owners. As a member of the BAYC, owners receive invites to special events, projects, and secondary chances within the NFT and crypto space. The first is that, due to its tight association with the BAYC, which has been extremely successful, the BAKC dogs have also derived value from the success of the corresponding apes. Also, shortage is another factor that makes them popular, since few and only electronically stored assets exist. There will be more people wanting to invest in BAYC and since the maximum supply of both BAKC and NFT token supply is limited, these tokens will continue to appreciate in the future. The sentimental value associated with owning a BAKC NFT, an asset considered-sectional that discrimines possession from one of the most private and high-performing NFT groups, also contribute to the desirability of these digital canines. This is evidenced by NFT Droppers’ documentation of this collection’s growth; BAKC will continue to hold a significant reputation in the NFT market over the course of years.
Conclusion
The Bored Ape Kennel Club collection is one of the best-known NFT collections out there; providing implicit canine associates to the legendary Bored Ape Yacht Club. Considering its activeClassName to BAYC and continuous popularity increase, BAKC is expected to be an important part of NFT collectibles for several years in the future.
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