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BAYC achieved a 2,500-fold increase in value in just one year; what is it?
BAYC (Bored Ape Yacht Club), a non-fungible token (NFT) brand of Yuga Labs, began at 0.08 ETH (one Ethereum is about 200,000 won) and achieved a floor price of 152 ETH in just one year. This amounted to about 540 million won, which is a record high. Based on this success, Yuga Labs has set about expanding its business to Metaverse. The Otherdeed NFT, which has the concept of virtual land, is sold to BAYC holders. People can only participate in the land minting with ApeCoin, Yuga Labs’ in-house cryptocurrency, so the value of ApeCoin also increased.
Numerous celebrities such as rappers Snoop Dogg, Eminem, and singer Justin Bieber are participating in the BAYC community as holders of the NFT that is limited to 10,000 worldwide. SpaceX and Tesla founder Elon Musk recently changed his Twitter profile picture to BAYC NFT and showed that he is also a BAYC holder.
People believe that Yuga Labs’ BAYC character Apes will expand into an IP (Intellectual Property) that surpasses Disney based on the project’s scalability and topicality.
What is open licensing?
BAYC holders can use the IP of the specific NFT they purchased. Bored & Hungry, which recently opened in Long Beach, California, is a business using BAYC’s IP, and is a hamburger restaurant branded with the NFT owned by the BAYC holder. At Board & Hungry, you can pay for food with ApeCoin. In addition, BAYC holders and community members who are passionate about BAYC’s worldview love the free set menus for holders and the menus named after the NFT community terms.
Using the NFT’s IP for secondary works or business like that while a person purchases and owns the NFT is called ‘open licensing’. This is the fastest way to expand an IP and deploy it in various business areas.
Zelly Space to run the licensing of BAYC #4172
‘Zelly Space’, a blockchain brand agency that launched the NFT project ‘MetaZellys’, will be running a licensing business through BAYC NFT. Zelly Space is a holder of BAYC #4172 and has been promoting active and free use of its character IP for a long time. The same applies to the NFT license of MetaZellys, and any holder who adopts the MetaZellys NFT will have the license right for the NFT.
Hyunjin Cho, CEO of Zelly Space, said, “MetaZellys also wants to become Korea’s BAYC. It will be a good example of actively utilizing the open license of an NFT to increase the community value of holders.” “As the holder of BAYC #4172 and CEO of MetaZellys, my aim is to increase the value of MetaZellys, together with recognition of MetaZellys and through business collaboration through open licenses.” he said.
If you want to collaborate with Zelly Space for business opportunities,
contact [email protected]
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