๐ฆ The Rise and Fall of Bored Ape Yacht Club (BAYC) NFTs
In 2021, a mysterious collection of 10,000 cartoon apes launched on Ethereum โ and quickly became a global sensation. Within months, Bored Ape Yacht Club (BAYC) NFTs were selling for hundreds of thousands of dollars.
๐จ Celebrities like Eminem, Snoop Dogg, and Steph Curry bought in, using apes as profile pictures and flexing digital ownership. The cheapest apes (floor price) reached over 100 ETH (~$400K at peak).
๐ But by late 2023, the hype cooled. Prices plummeted, trading volume dried up, and many holders were left holding digital ghosts of a once-elite club.
๐ง BAYC became both a symbol of NFT mania and a lesson in market cycles, speculation, and cultural virality in Web3.
๐ท๏ธ #BAYC
