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How did the monkey become the most popular symbol in NFT?

 


What are NFTs?

NFT is the abbreviation for Non-fungible Token. These are digital objects that are non-fungible, ie unique and non-reproducible. Bitcoin can be reproduced en masse as a digital asset. This is not the case with an NFT. This has a unique digital signature. 

Especially on the art market, NFTs became famous. Digital artworks have been sold at massive prices at online auctions. Through the digital signature, which is set on the blockchain, an NFT can be precisely assigned to an owner. Counterfeiting and theft are thus ruled out in principle.


Most NFTs are based on the Ethereum Blockchain. Ethereum was the first blockchain to introduce smart contracts, making it the blockchain on which the first NFTs were based. Even today, Ethereum is the most important blockchain for NFTs. Recently, however, more and more NFTs have been created on the very fast Solana blockchain


How did the hype about NFTs on the art market come about?

As unique digital objects with a digital signature that cannot be forged, the NFTs were perfectly suited to attracting attention in the art market. The NFTs are issued in digital auctions and can be purchased on NFT exchanges by any interested user.

Due to the wide availability on the NFT exchanges, NFTs have become increasingly popular. So-called NFT collections were created, in which several NFTs that represent a character or a specific image in several variations in a series of dozens of NFTs. A monkey in various modifications, in various styles of clothing, was often depicted as an NFT in a cartoon. These monkeys became extremely popular as part of large NFT collections. 

What is the most famous NFT collection featuring a monkey?

The most well-known NFT collection that has a monkey as the basis for the NFT is the Bored Ape Yacht Club. This is a collection of 10,000 frames, each representing a unique NFT. These NFTs depict monkeys in a cartoon style. These monkeys all have a bored expression on their faces. 

The Bored Ape Yacht Club includes NFTs based on the Ethereum blockchain. Yuga Labs developed the collection, which is probably the most exclusive NFT collection in the world at the moment. Some NFTs from the collection reach a six-figure figure. 


The "bored monkeys" became a cult object as NFTs. Numerous celebrities have acquired their own monkey as an NFT. Anyone who purchases one of the NFTs from the Bored Ape Yacht Club not only receives the NFT but also exclusive access in the form of a digital membership card. You can find more information about the Bored Ape Yacht Club in our article on the subject.


Are there other NFT collections with the monkey as a cartoon?

In addition to the Bored Ape Yacht Club, another collection with NFT monkeys has established itself. As NFTs based on the Solana blockchain , the Degenerated Apes triggered massive hype in autumn 2021, which caused the price of Solana’s SOL token to skyrocket in particular. 

In the tradition of the Bored Ape Yacht Club, the Degenerated Ape Academy owns 10,000 individual NFTs, all of which have an ape on them. These have a 3D design and, like the counterparts on the Ethereum Features, have different features. 


What makes the monkey so popular as an NFT?

As an NFT, the monkey has a large meme character in the large NFT collections mentioned. It seems that for every character trait or personality in a human being there is also a corresponding monkey NFT that reflects those traits. 


The provision of 10,000 of these different cartoon monkeys offers an extremely high level of individuality in each individual NFT artwork, while at the same time, with the acquisition of an NFT monkey, one is part of a larger whole. This is what made the Bored Ape Yacht Club and later the Degen Ape Academy so popular. 

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