The Whole Bored Ape Yacht Club Phenomenon, Explained
Just around one year ago, two literary bros from Miami decided to launch a business venture. It was a couple weeks after Beeple’s Everydays had sold for $69 million at Christie’s and NFTs were taking the art world by storm. Still, few could have guessed at the time that their little company, called Yuga Labs, would produce a series of cartoon apes that would become some of the most successful—and divisive—characters in the entire NFT universe.
"It's hard to justify that a Bored Ape NFT is worth $300,000 based on the art... they're cartoon apes" says crypto journalist Amy Castor. "They're…
The skinny
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