Why Is BAYC So Successful And How To Spot The Next Successful NFT Collection?
The Sense of Usefulness of NFTs in Unique and Rare Memberships Like BAYC
Why are some NFT projects so valuable and successful? This is a tricky question, especially if you are new to the world of NFTs. However, the short answer is that NFTs will hold their value for two main reasons: Exclusivity, and more importantly — utility.
In simple terms, what really adds value to a digital collectible like BAYC’s rare apes is ultimately what holders can do with them. NFTs can currently be applied to the world of video games, utility tokens and metaverses, providing security and guarantees of value to users.
Consider the specific case of one of the most successful NFTs of all time, BAYC. In addition to the fact that they are collectible and currently grant status to whomever owns them, these Bored Apes generate certain benefits that highlight the usefulness of the NFTs and the potential of owning a limited collection.
Fascinated by BAYC’s unique value proposition, investors are paying more attention to the utility offered by limited collections such as the Ubiquity NFT Genesis Drop in the ecosystem.
Ubiquity is already using this technology to deliver more value to creators and consumers through their NFTs that will provide access to numerous utility offerings focused on the properties of the decentralized finance sector.
Market Value
One of the great opportunities generated by NFTs is their value in secondary markets. When Yuga Labs announced the April 2021 pre-sale of the rare tokenized Bored Apes, they sold out in 12 hours for only $190 ($0.08 ETH) on average per NFT.
Like wildfire, these coined apes became desirable to art collectors within the blockchain ecosystem, generating a fairly lucrative secondary market on the OpenSea Marketplace ever since.
In the case of NFTs, the value is not necessarily about the attached artwork. Rather, in this sector in particular and very contrary to what happens in conventional art, the most important thing is to prove ownership of that particular asset.
That is why you can see the rapper Eminem, boasting about the ape he acquired as his Twitter avatar, generating a kind of ‘social status’ that only a few very wealthy lucky people can possess.
For this reason, events like the Ubiquity NFT Genesis Drop can be an excellent way to possess and prove digital ownership of exclusive, rare and scarce designs. This event will feature a limited edition of 1,024 NFTs will be minted on the blockchain, a unique privilege to have an exclusive design with high value in your wallet.
With the rise of social interest (sometimes sparked by influencers/best-seller stars), NFTs have shown that the more rare and unique they are, the more expensive they can become in a secondary market like OpenSea.
You do not need to look further than the current floor price of BAYC NFTs on OpenSea for an example.
Collectibles That Generate Passive Income
But not everything is art. NFTs have proven to be useful investments even for average investors through built-in decentralized finance properties that allow owners to generate returns on their assets, in the best style of traditional DeFi protocols, greatly outperforming traditional finance.
The Ubiquity DAO is implementing these DeFi properties in its first NFT collection in order to prove that NFTs are much more than crypto art.
Ubiquity DAO NFTs will be the key to access multiple benefits within the DeFi ecosystem powered by an exclusive collection that allows it to be the gateway to yields in vaults deployed in unique and exclusive memberships such as BAYC.
Thus, you just have an NFT Genesis from Ubiquity DAO in your wallet; You will be able to access the best returns available in the decentralized finance sector.
Ubiquity DAO plans to continue creating quality financial products that can add up to earnings opportunities for investors. In fact, the upcoming launch of the NFT Drop seeks precisely, with its exclusive and unique pieces, to provide distinction, rarity and utility to the user while also being recognized for innovation in such products.
Likewise, Ubiquity DAO wish to bring more people together through yield farming and NFTs. The popularity of these products reflects a growing trend within the blockchain-based gaming universe in which users instead of depositing money to unlock the features and functionalities offered by the platform, can create their own products and sell them within the same game.
In this way, it is possible to obtain returns and income without the need to invest money. The strength of this new model lies in a fairer distribution of profits among the parties involved.
The Ubiquity ecosystem, for example, offers as one of its main products, the Proxy Yield Farming program, allowing users to deposit stablecoins in the Yield Farming protocol.
This is the first of its kind in the industry, serving users by providing double the returns of stablecoins and at the same time accumulating collateral for the Ubiquity Dollar, while continuing to drive mass adoption of uAD as the stablecoin of crypto games and the metaverse in a decentralized economy giving users real control and ownership of their in-game assets.
As for the NFT Drop, Ubiquity DAO will continue to run daily giveaways for their NFT drop prior to the release of the long-awaited collection of 1024 pieces, which should be of special interest to DeFi natives and top tier NFT holders.
Even long after our NFT launch event, users will still be able to receive some of the aforementioned benefits for keeping this NFT in their wallet.
Yes, it is a lot of information to digest, so let’s break down the benefits that a BAYC holder enjoys so that you understand the importance of taking part in a limited NFT collection like the Ubiquity NFT Genesis Drop and why these memberships can be very valuable.
BAYC: Top NFT Project by Volume
BAYCs are as expensive as the clothes worn by the celebrities who own them. Despite this, their trade is still active and on the rise, registering in the last seven days more than USD 40 million of trade to place itself above similar projects such as CryptoPunks, as reported by NonFungible on its website.
At the time of writing this post, BAYC is the project with the highest volume of NFT trading of all time at USD 2.5 billion.
In addition, the collection today is a status symbol. People in the crypto and NFT ecosystem use profile pictures for Twitter, Discord and other platforms, similar to how CEOs use Rolex watches as luxury status items.
Owners of these NFTs also have exclusive access to certain products that are regularly delivered by the team behind BAYC like new mutant collections that sell for thousands of dollars on secondary markets like OpenSea.
As if that were not enough, being a member of BAYC also provides you with exclusivity over other NFT projects or drops soon to be launched in the ecosystem, thus allowing you to be one of the first to expand your exclusive collection of apes along with other similar projects.
Acquiring one of these apes makes you a member of the Yacht Club, which provides exclusive benefits for members ranging from a Bathroom (online collaborative graffiti board) to exclusive parties for members, such as the one that took place in New York on a luxury yacht with artists from the likes of The Strokes and Chris Rock.
Ubiquity NFT Genesis Drop: The Next BAYC?
Although it is unlikely that there will be another project in the ecosystem as high profile as BAYC, it is also true that good NFT projects have emerged that have managed to provide significant utility and at the same time generate a significant ROI for the average investor who acquired them.
Ubiquity NFT Genesis Drop wants to go beyond simple social status and show that decentralized finance has incalculable power for people.
For this reason, the project proposes combining all the DeFi properties of the sector together with crypto art to generate an excellent investment vehicle for the average user of the ecosystem, who beyond showing off their NFT collection are guaranteed return on investment from the DeFi options offered for these assets.
Blockchain technology is introducing ways unimaginable a decade ago to empower the common user with non-custodial financial tools, and as is reflected in the boom in NFTs, investors will highly value a protocol like Ubiquity that generates added value and utility to the static NFTs in our wallets.
After all, the utility of an NFT goes beyond being a collectible or a tradable asset in a game used to enhance skills and abilities. It requires added value for the end user that can be generated by speculative potential or DeFi properties to guarantee a good return on their investment, as well as new utilities like social status or novel incentives that stimulate their demand.
About Ubiquity DAO
Ubiquity DAO was created by Ethereum DeFi natives in 2021. As an organization, it is committed to becoming the bank of the metaverse, while building open-source developer tooling and community management tools to augment the operating efficiency of DAOs.
