PrivCo Logo

NFT Legends: Bored Ape Yacht Club

NFT Legends: Bored Ape Yacht Club
November 4, 2021

The Daily Stack is a daily private market insights newsletter by PrivCo, a private company intelligence platform. Read our previous insights.
If you have friends who would enjoy reading this newsletter, please forward this email to them.

On a recent stroll in NYC’s Soho neighborhood, a line around the block caught my attention. My instinct was to assume a new pastry had been making the rounds on social media and this area was the birthing ground. Looking for a sign mentioning doughnut waffles, apple cider cronuts, or some other amalgamation of baked goods, I was surprised to find it was an NFT pop-up. The popular NFT project catching headlines for millions of dollars earned at Christie’s, known as Bored Ape Yacht Club, was bringing its crypto Twitter stans together IRL.

     

If I’m starting to use words that don’t quite register, it’s no mistake. The entire universe of NFTs (non-fungible tokens) and one of its most out-there projects is a veritable minefield of terms, references, and insider language that borders on gobbledygook (a real word, I swear). Reading about them in a recent Rolling Stones article, I begin to feel like my parents must have when I first texted “lol” or “btw.”  Turns out, it's part of the appeal. 

Bored Ape Yacht Club sells, or drops, NFT tokens resembling morose-looking Apes in sailor attire, similar to Cryptopunks, but takes the insider fanfare a step further by building an immersive experience for its token-holders. Ape holders can join the Bored Ape Kennel Club by getting a pet for their Apes, or snatch up tangible hats for thousands of dollars. We’re currently in the midst of the first Annual Ape Fest, running from Halloween to Nov. 6th (I must have witnessed the merch pop-up but missed the yacht party).

What’s striking about Bored Ape Yacht Club is the way in which the founders, or Goners, stumbled into this idea as members of the crypto Twitter-sphere. The idea started in early 2021 with a curiosity about combining a collectible-art component with community membership through gamification. A group of four thirty-somethings pile jokes on top of one another as they amble along creating a maximalist metaverse, or “Web3 lifestyle company.” The old adage “follow your bliss” might just carry over into this new world.

For some more insights into the blockchain/crypto sphere of startups, check out Uniswap, a popular network of decentralized finance apps, or Nansen, a company that tracks blockchain analytics.

Do driverless cars save lives?
Crisis in auto deaths puts autonomous driving technology on top of the agenda.
We can't get enough of Korea
How the country became a global cultural powerhouse.
[NY Times]
Since last week, PrivCo has added:

948 Companies | 84 Funding Activities | 51 M&A Deals

Looking for data integrations? Contact us today

.

Funding & Deal Highlights:

 

Valon raises $439MM from Starwood Capital

Fintech • Equity • New York, NY
 

Notable raises $100MM from ICONIQ Capital

Health Tech • Round B • San Mateo, CA
 

Biolinq raises $100MM from RiverVest Venture Partners

Electronic Components • Round B • San Diego, CA
 

Nuro raises $600MM from Tiger Global

Autonomous Vehicles • Round D • Mountain View, CA
 

HoneyBook raises $155MM from Durable Capital Partners

Freelance Tools • Round D • San Francisco, CA
 

Hone raises $16MM from F Prime Inc.

Training Tech • Round A • San Francisco, CA
 

Whimsical raises $30MM from Accel

Collaboration Tools • Round A • Denver, CO
 

Contra raises $30MM from NEA

Collaboration • Round B • San Francisco, CA
 

Laika raises $35MM from JP Morgan Chase

Compliance • Round B • New York, NY
 

Braincheck raises $10MM from Next Coast Ventures

Brain Health • Round B • Houston, TX

Forward to a Friend Forward to a Friend
Not a subscriber yet? Sign up here!
Have an interesting topic you want us to include. Let us know!
Website
Twitter
LinkedIn
Copyright © 2021 PrivCo Media, LLC. All Rights Reserved.
Unsubscribe | PrivCo.com | Contact Us
PrivCo Logo

Company

HomeSign inContactPricing