News hardware NFT: two rap legends unite thanks to Bored Ape Yacht Club (BAYC)
Although the NFT industry has not been at its best lately, it still manages to unite real communities. Bored Ape Yacht Club (BAYC), one of NFT’s biggest gatherings, has been particularly lucky to gather two rap legends around the same show.
NFT’s Bored Ape Yacht Club (BAYC) and their power of reunion
By involving the community at the heart of their development, Yuga Labs studio collection has succeeded in creating a true community between Bored Ape owners. As the name suggests, Bored Ape has the feeling of belonging in a private club.
Even though there are only 10,000 monkeys in NFT, that didn’t stop the Bored Ape community from taking over the internet for a while. The collection made a lot of noise and even quickly interested several showbiz personalities.
Two, however, seem to be particularly invested in the Bored Ape Yacht Club… The so-called Snoop Dogg and Eminem are avid supporters of boring monkeys. In fact, the situation in the NFT market does not seem to worry the two rappers more than that, as they constantly promote their “blockchain” virtual certificate.
While the two rappers were cold after certain comments made by Snoop Dogg about downgrading Eminem, they made peace under the image of NFT Bored Ape. Last June, with the clip “From the D 2 the LBC”, Eminem and Snoop Dogg put themselves in the shoes of their avatars Bored Ape – the perfect opportunity to make peace.
In addition to the reconciliation motif, the clip illustrating Bored Apes has been a huge success with 48 million views currently.
Bored Apes at the MTV Video Music Awards
After this episode, the artists decided to repeat the experience on stage during MTV WMA 2022. The event, which took place last Sunday, rewards the best clip of the year.
Always very excited about the idea of web3 technologies, Snoop Dogg and Eminem again focused on the metaverse and NFTs. Concretely, the two artists used this opportunity to appear in the Otherside metaverse proudly embodying their respective Bored Ape NFTs
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The unusual performance came as a surprise to everyone, especially since the two rappers have not taken the stage together since 1999. So it is safe to say that NFT technology adds a key role in the reconciliation of these two legends.
The event also allowed rappers to once again democratize the use of NFTs.
Benefit of Bored Ape Property Rights
While many see NFT technology as virtual art, some push its use further by using the intellectual property rights it offers – evidenced by the use of Bored Ape by Snoop Dogg and Eminem. By using Bored Ape in their art, they are exploiting their monkey-headed avatars commercially.
This notion of intellectual rights is key in the NFT ecosystem. In fact, the majority of collections, in addition to the work, issue exclusive rights to the holder of the NFT.
Many holders have thus utilized their NFT to promote various activities. In the heart of the speculative bubble, some members of the Bored Ape Yacht Club leveraged their NFT to gain a springboard and work as advisors. As the gathering was very popular, a majority considered the members of the club more than legitimate stakeholders.
What is an NFT?
An NFT is the abbreviation of Non Fungible Token or non-fungible token in French. NFTs are cryptographic tokens issued on a blockchain.
Leveraging this technology in the creation of cryptocurrencies, NFTs inscribe inviolable properties in this virtual registry. As a result, NFTs are true attestations of digital ownership.
Is an NFT necessarily an image?
A distinction must be made between an NFT and the associated object. In fact, the non-fungible token is above all a virtual property certificate and not the digital file as such. An NFT is usually associated with a photo or video, but it can also take the form of text, music or any other digital or physical format.
What is an NFT used for?
NFTs are generally used to assert property rights online. The owner of a token of a virtual work can thus collect royalties, ensure respect for the intellectual property of his digital object, etc.
This feature has especially allowed NFT to shine in art by creating value and rarity in digital images available online. In addition to art, this technology also offers several applications in several sectors, such as in video games, the traceability of a product, etc.
How is the value of an NFT defined?
These tokens are non-fungible ie. they have a unique value unlike cryptos which are fungible (1 bitcoin = 1 bitcoin).
The price of an NFT is therefore arbitrarily set by the owner of the token. This price is usually in cryptocurrency, most of the time in Ether (ETH).
How to buy and sell NFTs?
NFTs are generally bought or resold on trading platforms such as Opensea or Foundation.
What is an NFT coin?
“Mint” or strike in French, is the initial sale process for a token. To permanently become part of the blockchain ledger, these new tokens must be in the min. By this action, the user gets to complete a transaction with his fees to see his token appear first hand on the blockchain.