The biggest flex of celebrities in the digital age no more points towards fancy designer outfits or supercars. On the contrary, many celebrities such as Neymar, Paris Hilton, Jimmy Fallon, Gwyneth Paltrow, and others have one thing in common, i.e., Bored Ape Yacht Club or BAYC NFTs. Now, people want to know how to buy Bored Ape Kennel Club NFTs, an offshoot of the BAYC NFT collection. What are the Bored Ape Kennel Club or BAKC NFT? BAYC owns the facility for minting a canine companion for their ape, which qualifies for the Bored Ape Kennel Club. The first instance of minting BAKC NFTs started in the latter part of June 2021. BAYC holders could claim a dog by paying a specific gas fee for minting the NFT.
Over the course of time, Bored Ape Kennel Club NFTs gradually fell back into the shadows of Bored Apes and Mutant Apes. Almost everyone is interested in “What are bored ape NFTs?” rather than wondering about the utility of BAKC NFT. However, Bored Ape Kennel Club still enjoys a prominent reputation in NFT marketplaces such as OpenSea. The following discussion aims to offer you a brief introduction to Bored Ape Kennel Club NFTs and their history. Most important of all, you can figure out the suitable best practices for buying BAKC NFT in the following post.
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What are Bored Ape Kennel Club NFTs?
The first thing anyone would look for in discussions about Bored Ape Kennel Club NFTs would be their definition. What is the BAKC? Is it another Bored Ape derivative project tailored as a pump and dump scheme? On the contrary, Bored Ape Kennel Club NFTs continue maintaining their value, thereby suggesting some form of utility. Coming to the primary point of discussion, what do you mean by Bored Ape Kennel Club NFTs? The BAKC is basically a collection of NFTs working on the Ethereum network according to the ERC-721 token standards.
The total collection of BAKC NFTs features 10,000 unique NFTs. Bored Ape Yacht Club owners received the Bored Ape Kennel Club NFTs without any charge. The BAYC website states that around 9600 BAYC holders claimed their BAKC NFT, and the remaining 400 unclaimed dogs were released into the swamp. Many of you might have doubts about Bored Ape Kennel Club utility, especially when you think of other popular NFT collections. As a matter of fact, a BAKC NFT associated with Mutant Ape or Bored Ape could easily boost the number of airdropped tokens in the event of releasing ApeCoin.
The arrival of ApeCoin suggested the first-ever return on investment for BAYC holders. The altcoin pointed out how BAKC can provide continued assurance of utility throughout the Bored Ape landscape. Most important of all, the BAKC non-fungible tokens are capable of showcasing the actual potential of NFTs as valid tools for investments.
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Background of Bored Ape Kennel Club
Before you invest your time and effort in trying to find “How to buy BAKC NFTs,” it is important to know the background of the collection. As of now, BAKC non-fungible tokens have been around for only a year. Yuga Labs, the team behind Bored Ape Yacht Club, released the Bored Ape Kennel Club NFT collection. The last date for minting the Bored Ape Kennel Club NFTs on June 25, 2021, turned out to be the first date people witnessed the dogs in the collection.
In the initial six weeks of BAKC NFT trading, Yuga Labs assumed a royalty of 2.5% on the secondary sales. On top of it, you should also add the 2.5% transaction fee imposed by OpenSea marketplace. The additional royalty in the trading fee served as contributions in donations to no-kill animal shelters. Interestingly, the additional trading fee has been removed, and you can find only the 2.5% transaction fees imposed by OpenSea.
Advantages for BAKC NFT Holders
The discussion on methods to buy Bored Ape Kennel Club NFTs would also draw focus towards their advantages. First of all, the ownership of a BAKC NFT enables access to the BAYC community. Furthermore, the Bored Ape Kennel Club also increased the amount of ApeCoins airdropped to Bored Ape and Mutant Ape holders. As of now, the implications of Bored Ape Kennel Club utility beyond the Bored Ape ecosystem are under the wraps.
However, many reports have suggested that owners of Bored Ape Kennel Club NFTs can enjoy plausible benefits of staking in the future. The BAKC NFT collection features dogs with certain utility, although the limited utility in comparison to Bored Apes is considerably clear. One can notice the difference in utility, especially in the floor prices for the projects.
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Methods to Buy BAKC Non-Fungible Tokens
The BAKC NFT collection is available for sale on many renowned NFT marketplaces. As of now, majority of trading volume for BAKC NFTs can be traced back to the NFT marketplace, OpenSea. Here are some of the simple steps which can help you find how to buy BAKC NFTs without any difficulties.
Open Online Account
You should start the first step of buying Bored Ape Kennel Club NFTs with an online account. Buyers must purchase ETH by using a crypto exchange such as Gemini or Coinbase. Make sure that you wait for a few days after purchasing ETH on the exchanges, thereby ensuring that you can send it off the exchange.
Purchase or Download Wallets
The next step in methods to buy Bored Ape Kennel Club NFTs would point at purchasing or downloading crypto wallets. You can download a software wallet for purchasing, selling, and bidding on an NFT marketplace. Other options would point to choosing hardware wallets, which can provide better assurance for the safety of NFTs.
Transfer ETH to a Wallet
Once you have selected a crypto wallet, you have to power it up with cryptocurrencies required for purchasing NFTs. Transfer the ETH tokens from the exchange you purchased them to your crypto wallet. Keep in mind that the wallet would account for a share of the transaction fees, in the amount of $5 to $10, according to the market conditions. One of the best crypto wallets for BAKC NFTs would refer to MetaMask, the most common choice.
Purchase the NFTs
The first thing you must note other than “what are bored ape NFTs?” would be the place where you can find them, i.e., NFT marketplaces. After fuelling up your crypto wallet with the desired amount of ETH required for the Bored Ape Kennel Club NFTs, you should connect the wallet to an NFT marketplace. Browse the NFT marketplace and try to find the NFTs which suit your preferences.
You can purchase a BAKC NFT in a simple procedure by using the “Buy Now” feature. The feature helps you buy the NFT at the desired asking price. Anyone who wants to buy Bored Ape Kennel Club NFTs would obviously find interesting options in making offers for NFTs. Buyers can place offers for sellers in the form of Wrapped Ether or WETH.
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Always Choose Your Wallet Wisely
The discussion on Bored Ape Kennel Club utility generally draws away from the attention to the need for secure crypto-wallets. As a matter of fact, the crypto wallets are more than the wallets for storing your crypto and NFTs. On the contrary, you must notice how the crypto space is vulnerable to various attacks and scams in modern times. When it comes to safety of crypto assets, people look up to safety of the private keys to their assets. Therefore, a strongly guarded set of private keys can definitely ensure better safety for your crypto assets.
You can choose two different types of crypto wallets for buying BAKC NFTs, such as software and hardware wallets. The hardware wallets offer better advantages with better security than software wallets. Furthermore, hardware wallets are easy to use as any other USB device, along with a user-friendly interface.
On the other hand, software wallets open up a world of functionalities to a user’s experience of dealing with NFTs. For example, MetaMask is one of the common options among software wallets. Users prefer MetaMask for the interface, which you can add as a browser extension. The wallet helps in interacting with various web3 technologies like NFTs, thereby driving plausible value advantages.
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The methods to buy Bored Ape Kennel Club NFTs alongside the best choice of crypto wallets can show you the right way towards the new NFT collection. Within only a year of its inception, the BAKC NFT collection has earned quite a solid reputation. The discussion on utility of Bored Ape Kennel Club NFTs also draws prolific references to the long-term potential of the NFT collection.
Bored Ape Kennel Club is more than a derivative of the Bored Ape Yacht Club NFT collection. Users can even expect staking rewards with the NFT collection in the future. Above all, the utility and acceptance of NFT collections such as Bored Ape Kennel Club can fuel NFT adoption. Learn more about NFTs and how to create your own NFT collection.
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*Disclaimer: The article should not be taken as, and is not intended to provide any investment advice. Claims made in this article do not constitute investment advice and should not be taken as such. 101 Blockchains shall not be responsible for any loss sustained by any person who relies on this article. Do your own research!