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The Story of the Bored Ape Yacht Club Project: From Monkey Images to Millions of Dollars

In April 2021, a new NFT project called Bored Ape Yacht Club (BAYC) was launched, consisting of 10,000 hand-drawn digital images of monkeys with different features and expressions. Initially, the price of one monkey was around 0.08 ETH (equivalent to about $200 at the time). No one expected these "bored monkeys" to turn into one of the most expensive NFT collections in the world.

Some investors bought several images without much thought, but after a few weeks, demand skyrocketed due to the entry of celebrities like Eminem, Steph Curry, and even Paris Hilton into the club. Over months, the price of some images reached more than $300,000, and one even sold for $3 million at a public auction.

A young investor bought 5 images for no more than $1,000, later sold one for $150,000, and kept the rest which had multiplied in value several times over. The story of BAYC has become a symbol of the crazy opportunities that NFT technology offers — an opportunity that could change someone's life overnight.