Author: Staff

Last year, non-fungible tokens (NFTs), which are data recorded on a blockchain and guarantee the ownership and uniqueness of a digital object, surged into the mainstream, fueled by the assumption that people want to own, showcase, and trade their digital assets in the virtual world.

Digital artworks sold for tens of millions of dollars, while cartoon profile images took over social media platforms. Major businesses and celebrities snatched up virtual property in virtual worlds. Months into the NFT craze, some are already complaining of NFT weariness, and new ventures are finding it increasingly difficult to differentiate, especially if they lack a compelling story or marketing chops.

NFTs, on the other hand, aren’t just get-rich-quick schemes. Here’s a simple beginner’s tutorial on minting an NFT, or putting the data of a digital file to a blockchain, for artists who want to get their feet wet in the world of digital assets.

That may sound complicated, but NFT marketplaces have made the process relatively simple, and we’ll use some of the most popular platforms as examples in this tutorial.

Step one: What are you minting?

What type of NFT do you want to make? While some of the most popular projects use cartoon avatars, practically any digital file format, including GIFs and numerous audio and video formats, can be converted into an NFT.

Wong Kar-Wai, a prominent Hong Kong director, created an NFT in September 2021 from never-before-seen footage from his critically acclaimed 2000 film In The Mood For Love, which was auctioned by Sotheby’s. NFTs of singles and music videos have been released by musicians. A still image, such as a work of digital photography or a digital representation of a poem, can also be turned into an NFT.

NOTE: Make sure it’s your own creation or something you have legal ownership of before going.

Step two: Decide on marketplace

Many marketplaces exist to help you find, buy, and sell NFTs, but others are better suited to individual makers and artists.

Many NFT developers and purchasers choose OpenSea, which is built on the Ethereum blockchain and has the largest user base and trade volume.

Rarible allows you to mint your works on Ethereum, Tezos, and Flow, the latter of which is used by NBA Top Shot and ARTIFACT, the South China Morning Post’s own NFT project.

Both OpenSea and Rarible allow you to generate and list your NFT for free, with the NFT being minted on the blockchain only when it is sold. After the initial sale of a certain NFT collection, the buyer pays the “gas fee,” or the transaction amount required to write data on a blockchain network. Other fees apply as well, as will be discussed later.

Some sites, like Foundation and SuperRare, only allow you to join and build your own NFTs if you’ve been invited. At present time, other popular marketplaces like Magic Eden and Solanart, which are built on the Solana blockchain and provide lower costs and faster speeds, only enable secondary transactions.

When a collection of NFTs is previously sold on its own project website, it is then traded among buyers in a secondary NFT transaction.

Step three: Create a crypto wallet and get crypto

Create a crypto wallet that works with your preferred marketplace and blockchain. Crypto wallets store the private keys to your crypto assets, such as cryptocurrencies and NFTs, and allow you to transfer and receive cryptocurrency using your wallet address.

For Ethereum-based marketplaces, MetaMask and Coinbase Wallet are popular options, while Phantom and Solflare are wallets that operate with Solana-based sites. You can create a wallet without owning any cryptocurrencies by using an online platform, browser extension, or app. Later, you may buy cryptocurrencies on a cryptocurrency exchange or through services like MoonPay, which allow you to buy them directly with credit cards.

Due to the fact that platforms cannot assist you retrieve the login password to your wallet or the “search phrase,” a series of simple phrases that gives you access to your wallet, it is critical not to lose them. You will lose access to your crypto assets if this happens.

Step four: Upload and Mint

You can begin generating after you have a crypto wallet. As examples, we’ll look at OpenSea and MetaMask.

Click “create” from the menu options at the top of the OpenSea page to link your MetaMask wallet to the platform. You’ll see a pop-up asking you to finalize the connection. Then you can upload your prepared file, give it a name and description, and pick whether you want it to be minted on Ethereum or Polygon, a related but less expensive option to Ethereum.

To finish, go to the bottom of the page and click the blue “create” button. After it is sold, your new NFT will be minted on the blockchain.

OpenSea charges a one-time gas price to sell your first Ethereum NFT, which varies depending on network usage. The charge in the Post’s test on Thursday 27th was 0.0525 ether, or about $128 USD.

Although there is no charge for selling a Polygon NFT, customers holding Ethers must take extra measures to move their funds from the Ethereum blockchain to the Polygon blockchain. A gas cost is also charged when transferring cryptocurrency.

Finally, give your NFT a price and specify how long it will be on sale before clicking “finish listing.” Your NFT is now available for purchase.

What are the similarities between Paris Hilton, Jimmy Fallon, Steph Curry, and Eminem? They’re all members of the Bored Ape Yacht Club, which means they’ve each purchased one of 10,000 ape avatar NFTs with various qualities and attributes. With Jimmy Fallon as the newest entry, he purchased the NFT with the captain’s hat at more than $200,000.

The Bored Ape Yacht Club (BAYC) has attracted a lot of attention and has had a lot of success. The Bored Apes collection of NFTs has been the most popular collection of NFTs in terms of trading volume and value since its original release in April 2021. Unsurprisingly, the number of well-known celebrities who “aped-in” grew over time. Today, we’ll take a look at their Ape collection.

EARLY ADOPTERS

1. Steve Aoki

The EDM artist is a die-hard NFT supporter. He has spent more time engaging with NFTs than other celebrity Ape owners, and he has his own NFT collection. He was one of the first Ape adopters, purchasing BAYC #8716 for 49 ETH, and now has more than ten different Bored & Mutant Ape combos.

2. Gary Vee

GaryVee (a.k.a. Gary Vaynerchuk) is another NFT fan, like Steve Aoki. He has always been a strong supporter of NFT and its applications. He “aped-in” unusually early, according to a tweet, and was probably minted from launch. He presently has three Bored Apes, #1452, #7912, and #8106, as well as his personal VeeFriends NFT collection.

3. Dez Bryant

Dez Bryant was one of the first athletes to join the club, receiving Ape #2902 in the summer. The Ape #2902 was most likely given to him as a present at the time, and it was worth roughly 10 ETH. It is currently valued roughly $250,000. It is currently around 60 ETH.

4. Marshmello

The EDM DJ was one of the first to use NFTs. He also owns CryptoPunk and has released various NFT collections for his admirers in addition to the Bored Ape. His Ape, #4808, is a rare one that cost him 75 ETH at the time of purchase but is now worth over 150 ETH.

SPORTS ATHLETES

1. Mark Cuban

Mark Cuban, the billionaire investor and entrepreneur, is no stranger to the NFT space. He was given the Bored Ape #1597 as a gift, and it is now worth almost $250,000.

2. Steph Curry

With Ape #7990, the Golden State Warriors’ star shooter has aped into the Bored Ape Yacht Club. The Ape set him back 55 ETH, or around $180,000, or 0.39 percent of his $45.7 million salary next season.

3. LaMelo Ball

In early June 2021, LaMelo purchased an Ape. His first, Ape #7226, was purchased for 1.2 ETH in May, and his second, Ape #598, was purchased for 1.75 ETH a few weeks later.

4. Shaquille O’Neal

The Mutant Ape #14452 was “aped-in” by the retired NBA great and celebrity influencer at the start of the fourth quarter of 2021. He paid 4.8 ETH (about $20,000) for the Ape.

5. Von Miller

Von Miller, a linebacker for the Los Angeles Rams, purchased Bored Ape #4733 for 25 Ethereum. Miller also has Ape #1432, which was presumably given to him as a gift by NFL player Dez Bryant.

6. Neymar Jr

Neymar Jr., widely regarded as one of the top soccer players in the world, also has the most Twitter followers of anyone on this list. On January 20, 2022, he made a major entrance into the Bored Ape Yacht Club, purchasing two Apes for a total of almost $1 million in ETH. Bored Ape #6633, a bubble-blowing pink ape with holographic spectacles and a party hat, proclaimed his existence to his 55 million followers. He also has the #5269 with the laser eyes.

7. Serena Wiliams

The 23-time Grand Slam tennis champion was introduced to NFTs by her husband, Reddit co-founder Alexis Ohanian, a big supporter. He paid $414,000 in ETH for her Bored Ape #5797, which she subsequently uploaded on Twitter on January 20 with the phrase “GM.”

Ohanian had previously purchased a Serena-like CryptoPunk for his wife. Williams, meantime, just become a board advisor for the crypto fantasy soccer game Sorare.

From Entertainment and Business

1. Lil Baby

In his NFT collection, American rapper Dominique Armani Jones, better known as Lil Baby, has both a Mutant Ape and a Bored Ape. He told his 5.8 million Twitter followers about his purchases, and his Mutant Ape is now his Twitter profile photo. Lil Baby paid 38 Ethereum for his Mutan Ape #10259, which is currently valued roughly 70 Ethereum, or $300,000.

2. Jimmy Fallon

Jimmy Fallon, star of The Tonight Show, just joined the Bored Ape Yacht Club. On the 12th of November 2021, he purchased the Bored Ape #599 for 46.6 ETH and immediately used it as his Twitter profile photo.

3. Post Malone

Post Malone, a singer and musician, recently paid over $700,000 for two Bored Ape Yacht Club NFTs. His purchase is featured in The Weeknd’s most recent song video. On Twitter, Post Malone is now using his Bored Ape #961 as his profile image.

4. Future

In November 2021, rapper Future joined BAYC. Bored Ape #4672 was purchased for 48.88 ETH (about $222,000). Future has been flaunting his NFTs on Twitter, and he appears to be very enthusiastic about what’s to come.

5. The Chainsmokers

The Chainsmokers, an American DJ duo, were among the first celebrities to own a Bored Ape Yacht Club NFT. The Duo bought this Cheetah Fur Bored Ape #7691 for 55 Ether and uses it as their Twitter profile photo.

6. Snoop Dog

Snoop Dogg, an American rapper and NFT collector, possesses a complete set of BAYC, MAYC (M1 and M2), and a Bored Ape Kennel Club. “When I APE in, I APE all the way in!!” Snoop Dogg stated in the announcement tweet, and he wasn’t lying.

7. Eminem

Marshall Mathers a.k.a. Eminem, an American musician, bought around $462,000 for the BAYC #9055, in which the Bored Ape resembles the artist. As of lunchtime Monday, his Shady Holdings pseudonym on OpenSea owned 22 NFTs, including eight purchased at the start of the year.

8. KSI

KSI, a YouTube sensation and rapper, quickly fell into the NFT trap. In August 2021, he bought his first NFTs, and two days later, he’d launched a Twitter alt account (@ksicrypto) solely to NFTs, boasting about how much his Bored Ape had appreciated in value. Banks, another NFT aficionado and co-founder of the prominent gaming organization FaZe Clan, assisted KSI in his ape-in.

9. Mike Shinoda

The Linkin Park rapper and solo artist not only collects NFTs and displays them on his Audius page (which includes a slew of Mutant Apes), but he also makes his own. Shinoda has launched a number of NFTs, most notably through the now-defunct Tezos store Hic et Nunc. He also streams on Twitch on a regular basis and distributes NFTs of artwork generated live, and he is optimistic about the future of cryptocurrency.

10. Rich the Kid

Rich the Kid, a rapper, is swiftly moving into the NFT market, having purchased his first Bored Ape in early November and asking his fans if his Ape should “drop a music video.” He also mentioned buying NFT-based land in The Sandbox, a forthcoming Ethereum-based metaverse game. In September, he released his own NFT project, Rich Kids.

11. DJ Khaled

DJ and music producer DJ Khaled joined the Bored Ape Yacht Club in November after purchasing Bored Ape #7380 with more than $227,000 in ETH via MoonPay. DJ Khaled’s Ape, which comprises a vivid tropical clothing and coins over his eyes, is his Instagram avatar as of this writing, with over 27 million followers.

12. Paris Hilton

Paris Hilton, a reality TV personality and socialite, was a pioneer in the NFT area, selling her own blockchain-based artwork in 2020, years before the great majority of the persons on this list. While it may come as a surprise to see her become a proponent of NFTs, even giving some away on “Late Night With Jimmy Fallon,” she has the crypto credentials.

Hilton appeared on “Late Night” in January and displayed Bored Ape #1294, which she purchased with MoonPay for $287,000 in ETH. She joked about Fallon’s monkey and her own, saying, “They look like they could be pals.”

13. Justin Bieber

On January 29, international pop sensation Justin Bieber jumped in with Bored Ape #3001, which sold for 500 ETH ($1.3 million). Crypto influencers like Gmoney and Farokh believe he overpaid, although it’s possible Bieber simply liked the look of this Ape with common characteristics. Bieber, who has 114 million Twitter followers, posted the image to his Instagram account using words from his hit “Lonely.” He also has NFTs from Doodles and World of Women, among other ventures, in his wallet.

14. Meek Mill

MoonPay has supposedly engaged the help of yet another rapper to promote its NFT concierge service. MoonPay bought Bored Ape #6877 for almost $245,000 in ETH on January 1 and then transferred it to another wallet. Meek Mill was later caught on his phone showing it off while sitting next to BAYC holder Lil Baby. As of this writing, Meek has yet to change his Twitter image to his Bored Ape, but the number of MoonPay-backed celebrities is increasing.

15. Logan Paul

Logan Paul, like his brother Jake, is a big fan of NFTs on social media. He tends to prefer CryptoPunks, owning many and even turning one into jewelry, but he also has a Bored Ape in his wallet—along with a slew of knock-offs that were likely delivered to his wallet without his knowledge. He has over 4,000 NFTs in his wallet, with a steady stream coming in from people who are most likely seeking to boost their projects.

The Bored Ape Yacht Club is without a doubt one of the most well-known NFT creations. When it comes to PFP (profile picture) projects, BAYC is second only to CryptoPunks. It not only started the 2021 NFT avatar frenzy, but it also gave thousands of collectors an affordable alternative to Punks and a thriving community to call home.

PFP apes have been spotted all throughout the metaverse by any active member of the NFT community, but where did it all begin? What is the origin of these apes?

BAYC, like other undertakings, took a lot of time and work to complete. And this story in particular begins with a group of IRL friends who want to create something unique.

The four founders go under the pseudonyms Gargamel, Gordon Goner, Emperor Tomato Ketchup, and Nosass. The NFT community, being digitally native, was and is more than glad to accept anons within the top tier of producers and influencers.

Gargamel and Gordon Goner had been involved in crypto in some way (holding and trading) since 2017 prior to BAYC, but Tomato and Nosass were software engineers who were new to NFTs.

When the troop was first thinking about an NFT project, they discovered that their ideas for “art” were more appropriate for presentation on a bathroom wall than on a traditional canvas. Taking that concept further, they decided that the bathroom should be located within a bar, but one that was only open to club members.

Thus was established a Yacht Club, to be inhabited by the Apes of the Future: those who “aped” into crypto and NFTs. Years from now, the apes will be bored, spending the majority of their time at a bar with their friends. The founders were satisfied with that foundation.

The Yacht Club launch;

After spending their savings into the project, the Bored Ape Yacht Club was ready to open on April 29, 2021, with qualities determined, art obtained, and a minting contract written.

Priced at .08 ETH (Ugx. 774, 787) per ape for equitable distribution, things started slowly at first, but quickly snowballed, as they do with most things in the NFT realm, until they were sold out two days later, on May 1.

Two things happened over the next month: ape secondary sales began to take up quickly, and the developers began implementing their roadmap within the now-very-active BAYC community.

What happens in the Bored Ape Yacht Club (BAYC)?

You’ve undoubtedly realized by now that BAYC is about a lot more than PFP NFTs – and you’re correct! The Bored Ape Yacht Club is a true club, utilizing Discord as its gathering spot.

The only way to become a member of this exclusive club is to buy an ape on the secondary market. And, despite the fact that registration began slowly, the ape floor has grown to nearly 20 ETH at the time of writing.

Members of the club, on the other hand, will tell you that a floor ape is always worth the money, as the benefits of membership outweigh the loss of ETH.

The BAYC community has already earned a number of member rewards:

• Members own the rights to use their apes for commercial purposes. They can use the IP of the BAYC NFT they own to create and sell prints, T-shirts, coffee mugs, and other items.

• BAYC also released their own merchandise, which was only available to ape owners. Prior to purchasing, members have to login in with their ETH wallet to prove ownership. Currently, #2 is in the works, as well as a collaboration with streetwear behemoth TheHundreds.

• The full supply of NFTs was airdropped solely to ape owners as part of a new project called the Bored Ape Kennel Club (BAKC). 1 Ape = 1 Dog — and in the secondary market, the floor of BAKC almost immediately crossed 1 ETH.

• Members of the BAYC have a voice in which the project’s finances are spent, and so far, community initiatives have donated over 382 ETH (almost $4.5 million) to various charities and animal welfare organizations.

• More members-only features, such as a scavenger hunt, BAYC project narrative updates, games, and more, have been announced in recent roadmap updates.

Aside from the incentives, the BAYC is exactly how the developers intended it to be. Those who contributed early or decided to come in and join the crew will benefit from the exclusivity.

NFTs have allowed people from all walks of life to participate in a very exciting tech, culture, and financial movement, and BAYC is a prime example of that. The club’s climate is one of complete inclusion, with everyone from students to engineers, mailmen to millionaires.

The Future of Bored Apes

Months after its introduction, the BAYC community is still a vibrant, high-spirited area with a roadmap targeted at providing ongoing value to its members. Because time goes so quickly in the NFT environment, the question on everyone’s mind is “what’s next?”

Several members have had the opportunity to profit from their monkeys by selling them. And we’re talking about money that might change your life. Those who own the NFTs are in it for the long haul, and rightfully so.

Apes have become a status symbol in the same way as Punks have. Being an ape owner demonstrates that you’re part of a 5,000+ member club, with the added benefit of being able to identify your fellow apes on social media. Apart from members of the crypto and NFT communities, we’ve seen a number of celebrities, including Shawn Yue, Steph Curry, LaMelo Ball, and others, enter the non-fungible arena by purchasing an ape.

With the floor rising and interest spreading beyond the non-fungible community, apes may follow in the footsteps of Punks, serving as a legacy project that helps define the NFT environment. It’s vital to distinguish between the two since one sketched out the rules (Punks) while the other completely transformed the game (BAYC).

The NFT community’s “JPEG Summer” was dominated by Bored Ape Yacht Club, which was also the spark for the summer 2021 PFP project mayhem. As Punks continued to moon during the first half of the year, and Punk derivative ventures began to fade, BAYC filled a void in the collectible and art portions of the NFT market for uniqueness and substance.

Punks are unquestionably the gold standard for NFT projects, but they make up for it with an ETH worth much too high for most collectors to get even at floor rates. BAYC unquestionably established a standard for community-based projects, and we’ve seen a slew of others use its success as a model to follow in its footsteps.