Non-fungible tokens (NFTs) have taken over the crypto world with their evolving dynamic features. Existence of NFTs dates back to 2017 when Dappar Labs’ Cryptokitties, a collection of random pictures of cats started gaining its recognition in the web3 space. This technology witnessed a massive boom only in 2021. Especially with their not-so-complicated use cases, NFTs inspire both crypto- and non-crypto communities to invest in this sector, Celebrities, influencers and leaders started promoting NFTs via their tweets, profile pictures and even usernames.
When Yuga Labs’ native NFT collections, BAYC and MAYC hit the floor, the so-called NFT craze skyrocketed and investors kept flocking into this ecosystem. Till now, these Ape-based NFTs are ranking on the top of various NFT marketplaces.
On 27 April, Zenkon802 and Esmpeth, pseudonymous founders, announced the launch of the Japanese Born Ape Society (JBAS), a decentralised NFT brand on Ethereum blockchain. This is a collection of 10,000 Apes which is a customised fusion of BAYC NFTs and the culture of Japan.
JBAS NFTs can be minted only if the users get through whitelisting, a process of granting pre-approval to wallet addresses for an upcoming NFT sale. The Apes will be randomly distributed at the mint. At the end of mint, each Ape holder will be able to own a lotus flower from a collection of 9 rare lotus flowers for free. This airdrop will grant the holders with voting rights within JBAS DAO, said the founders.
Recently, Elon Musk had again raised speculations by temporarily changing his Twitter’s profile picture to a collage of 101 BAYC NFTs as an imitation of celebrities promoting NFTs via their profile pictures. MichaelBouhanna, head of digital art at Sotheby, revealed that the collage was created solely for their auction. Several NFTs projects have integrated into metaverse and have caused a unique revolution in the NFT space. Otherdeed, an NFT project on Otherside, BAYC-based metaverse, are currently dominating the NFT marketplace with trading volume of 227.1k ETH in the last 24h on OpenSea.
NFTs, metaverse and GameFi eventually are transforming into the most popular and in-demand sectors in the crypto world. Establishing a strong sense of belonging to a community and freedom of ownership, NFTs continue to bridge blockchain technology to the real-world.
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