News hardware NFT: two rap legends reconcile thanks to the Bored Ape Yacht Club (BAYC)
Although the NFT industry hasn’t been at its best lately, it still manages to unite real communities. Bored Ape Yacht Club (BAYC), one of NFT’s biggest collections, has notably succeeded in bringing together two rap legends around the same show.
The NFTs Bored Ape Yacht Club (BAYC) and their reuniting power
By involving the community at the heart of their development, the Yuga Labs studio collection has succeeded in creating a true communion between Bored Ape owners. As the name suggests, the Bored Ape have the feeling of belonging to a private club.
While there are only 10,000 apes in NFT, that didn’t stop the Bored Ape community from taking over the internet for quite some time. The collection made a lot of noise and even quickly interested several showbiz personalities.
However, two seem particularly invested in the Bored Ape Yacht Club… The so-called Snoop Dogg and Eminem are fervent followers of bored-looking monkeys. Indeed, the situation of the NFT market does not seem to worry the two rappers more than that since they are constantly promoting their “blockchained” virtual certificate.
While the two rappers were cold following certain comments by Snoop Dogg concerning a downgrading of Eminem, they made peace under the effigy of the NFT Bored Ape. Last June, with the clip “From the D 2 the LBC”, Eminem and Snoop Dogg put themselves in the shoes of their avatars Bored Ape – the perfect opportunity to make peace.
In addition to the reconciliation motif, the clip illustrating the Bored Apes has been a great success with 48 million views at present.
Bored Apes at the MTV Video Music Awards
Thus, after this episode, the artists decided to repeat the experience on stage during the MTV WMA 2022. The event which took place last Sunday rewards the best clips of the year.
Always very enthusiastic about the idea of web3 technologies, Snoop Dogg and Eminem once again put the spotlight on the metaverse and NFTs. Specifically, the two artists took advantage of this opportunity to perform in the Otherside metaverse proudly embodying their respective Bored Ape NFTs
Bored Ape respective.
The unusual performance came as a surprise to everyone, especially since the two rappers haven’t taken the stage together since 1999. So, it’s safe to say NFT technology adds a key role in the reconciliation of these two legends.
The event also allowed rappers to once again democratize the uses of NFTs.
The Usefulness of Bored Ape Property Rights
While many see NFT technology as virtual art, some push the use further by using the intellectual property rights they offer – evidenced by the use of Bored Ape by Snoop Dogg and Eminem. By using the Bored Ape in their art, they are commercially exploiting their ape-headed avatars.
This notion of intellectual rights is key in the NFT ecosystem. Indeed, the majority of collections issue, in addition to the work, exclusive rights to the holder of the NFT.
Thus, many holders have exploited their NFT to promote various activities. At the heart of the speculative bubble, some members of the Bored Ape Yacht Club took advantage of their NFT to obtain a springboard and work as advisors. The collection being very popular, a majority considered the members of the club as more than legitimate stakeholders.
What is an NFT?
An NFT is the abbreviation of Non Fungible Token or non-fungible token in French. NFTs are cryptographic tokens issued on a blockchain.
By exploiting this technology at the genesis of cryptocurrencies, NFTs inscribe inviolable properties in this virtual register. As a result, NFTs are true attestations of digital ownership.
Is an NFT necessarily an image?
A distinction must be made between an NFT and the object associated with it. Indeed, the non-fungible token is above all a virtual property certificate and not the digital file as such. An NFT is usually associated with a photo or video, but it can also take the form of text, music or any other digital or physical format.
What is an NFT used for?
NFTs are generally used to assert property rights online. Thus, the owner of a token of a virtual work can collect royalties, ensure respect for the intellectual property of his digital object, etc.
This feature has notably enabled the NFT to shine in art by creating value and rarity in digital images available on the web. Also, beyond art, this technology offers multiple uses in several sectors such as in video games, the traceability of a product, etc.
How is the value of an NFT defined?
These tokens are non-fungible, i.e. they have a unique value unlike cryptos, which are fungible (1 bitcoin = 1 bitcoin).
The price of an NFT is therefore arbitrarily set by the owner of the token. This price is usually in cryptocurrency, most of the time in Ether (ETH).
How to buy and sell NFTs?
NFTs are generally bought or resold on trading platforms such as Opensea or Foundation.
What is an NFT mint?
The “Mint” or strike in French, is the initial sale process of a token. To permanently become part of the blockchain ledger, these new tokens must be mint. By this action, the user comes to complete a transaction with his fees to see his token appear first hand on the blockchain.
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NFT: two rap legends reconcile thanks to the Bored Ape Yacht Club (BAYC)
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