A Dive into the Differences between Bored Ape Yacht Club and Doodles
Overview
In this blog post, we will examine two popular collections of non-fungible tokens (NFTs): Bored Ape Yacht Club and Doodles. NFTs are unique digital assets secured on a blockchain and have gained popularity as a way to collect and own digital assets. We will compare the differences between the two collections, consider the potential benefits of investing in them, and provide guidance on how to become involved with these NFT collections. The world of digital collecting is rapidly changing due to the advancement of technology.
Introduction
Non-fungible tokens, or NFTs, are unique digital assets that are stored on a blockchain. They can represent a variety of things, including digital assets such as art, music, and collectible cards, as well as physical assets like real estate and cars. NFTs have gained popularity as a way to own and collect digital assets. In addition to their use in collecting, NFTs are also used in gaming as in-game items like tokens, weapons, or characters that can be bought and sold on secondary markets. The fact that NFTs can only be purchased once and cannot be replaced creates digital scarcity, which drives up their value over time.
Bored Ape Yacht Club
The Bored Ape Yacht Club referred to as “BAYC” is a collection of digital collectibles created by the Bored Ape Collective that are apart of the Ethereum blockchain. The collection of 10,000 apes includes a range of unique art pieces, each with its own unique story. Each ape has a unique trait and the more rare the trait is the more expensive the ape. Bored Apes initially went on sale of April 2021 with a mint price of .08 ETH, at the time that was around $200. For example, here are some Apes that are a part of the collection:
The four founders of the collection go under the pseudonyms “Gordon Goner” (Wylie Aronow), “Gargamel” (Greg Solano), “Tomato Ketchup” (Kerem Atalay), and “Sass” (Zeshan Ali). The parent company of the Bored Ape Yacht Club is YugaLabs. YugaLabs is known for creating the world’s largest and most known NFT collection ever created.
Utility
The Bored Ape Yacht Club is a exclusive group that is made up of individuals who own a Bored Ape. The Bored Ape serves as a membership card for the club and provides access to exclusive perks such as use of THE BATHROOM, a shared online drawing board where Bored Ape owners can leave digital art. Additionally, Bored Ape owners can join a private Discord server where they can communicate with other members.
Owners of the Bored Ape Yacht Club NFT have received various benefits, particularly those who have had it since the start. One such benefit is the receipt of a canine companion from the Bored Ape Kennel Club (BAKC) for each of the 10,000 Bored Apes. These dogs were highly valued, selling for 10 ETH at the time I am writing this blog, providing a substantial reward for early adopters. Additionally, the royalty fees from the sale of the NFT on the secondary market were donated to Wright-Way Rescue, a non-profit organization dedicated to rescuing homeless pets. Now, the creator fee is 2.5% because the community was heard by YugaLabs for wanting them to create something special with the dogs.
Every owner of a BAYC NFT also received a vial of Mutant Serum. When a Bored Ape is exposed to this serum, it transforms into a Mutant Ape, resulting in a new NFT for the owner and allowing new members to join the community at a lower cost. Currently, the MAYC NFT collection has a minimum price of 17.69 ETH and is among the top 3 NFT projects in terms of all-time sales volume at 478K ETH.
Just recently, Yuga Labs announced the launch of their own cryptocurrency called ApeCoin. Owners of BAYC NFTs were able to claim free ApeCoin tokens as a reward for their support of the project. Recently, holders of BAYC and MAYC NFTs also received land NFTs for the Otherside metaverse project called Otherdeeds. Each land NFT has a unique set of resources that can be used in the game, and some may even contain a Koda NFT, which represents a celestial race in the Otherside metaverse.
Investments
BAYC has raised over $500 million dollars from multiple investors. The BAYC brand is valuated at around $3–5 billion dollars. One of the most notable investments is from venture capital firm Andreessen Horowitz. Alexis Ohanian venture capital firm Seven Seven Six (776) is also invested in both BAYC and in Doodles.
Experiences
Bored Ape Yacht Club & Parent Company, Yuga Labs established one of the most popular festivals that most people in America would have died to have been at called “Apefest” in 2022. This “Apefest” was token-gated to individuals that were holders of a Bored Ape, Mutant Ape, & their plus one guests only. This festival was held at Pier 17, New York City at the time NFT NYC was going on. The “Apefest” was 18+ to enter and 21+ for an open bar. The performers of the festival were: Haim, Lil Baby, The Roots, Future, Lil Wayne, Snoop Dogg & Eminem. One of the most notable highlights out of Apefest was Snoop Dogg & Eminem releasing an exclusive song in which each of them turned into their Bored Ape NFTs.
Just recently, Bored Ape Yacht Club threw another massive party in Miami during Art Basel. Since Bored Ape Yacht Club is one of the most successful Web3 brands and after a massive showing months before during Apefest tons of people filled the streets and the venue BAYC was using reached maximum capacity.
However, the BAYC managed to pull through by the end of the night with reducing the large lines and massive amounts of people. BAYC managed to get Florida Rapper Denzel Curry to perform.
Overall, BAYC holders and founders know how to throw a party and I can’t wait to see what’s in store next.
Influential/Celebrity Holders
Many celebrities own BAYC Apes. Some notable ones are: Justin Bieber, Jimmy Fallon, Snoop Dogg, Eminem, Madonna, Paris Hilton, Timbaland, Steve Aoki, Tom Brady and many more.
One of the most notable holders of BAYC is @franklinisbored he is the 6th largest BAYC holder with 67 Apes.
- According to his Twitter Bio he has increased in his position to 67 now.
Bored & Hungry (Web3 Business)
Bored & Hungry was started by Andy Nguyen, Kevin Seo, and Philiip Huynh. Bored & Hungry has capitalized on using the BAYC brand to influence others to join the world of Web3.
Nelk Boys, Happy Dad, & John Shahidi (President)
Happy Dad Inc. has developed the first ever Web3 hard seltzer with incorporating BAYC # 8928 on cans of Happy Dad. Happy Dad Inc. released this flavor in very limited quantities.
Overall, there are MANY influential holders of the BAYC NFT. Many different holders are using their BAYC in ways that influence people to join the Web3 universe.
Future Developments
YugaLabs is moving on with their plans of creating an immerse metaverse project called Otherside.
Otherside will bring all of YugaLabs NFT projects together in some type of way that we don’t clearly know yet. The Otherside project involves “Otherdeeds” that work as identification of ownership to claim the virtual land. When Otherdeeds were minted they could only be bought with Apecoin.
In my opinion, Otherside has the potential to change the gaming industry for how we know it. From what we have seen I compare it to a more updated Fortnite type of video game. If it is remotely close to being like Fortnite (which it will be and maybe more) this is another division of YugaLabs that is worth billions of dollars.
Also, Who knows what happens when next?
Apecoin (Utility Token)
YugaLabs has made it known that their entire ecosystem will be ran using Apecoin for purchases and access within Web3. Apecoin is considered to be part of a DAO (Decentralized autonomous organization). Apecoins primary functions include: Governance, Unification of spend, Access, Incentivization. Apecoin was airdropped to BAYC holders, Mutant Ape holders, and Bored Ape Kennel holders all in different amounts with BAYC receiving the most amount of coins. Apecoin is an ERC-20 token and they are interchangeable and tradeable on the ETH blockchain. Apecoin currently sits around $4.00 per coin.
Concerns with the Federal Government
There are some concerns about Apecoin and NFTs in general when it comes to regulation by the U.S. Government. The reason why the U.S. Government wants to get involved is because of the massive amount of fraud that could be occurring in majority of NFT collections. The Government wants to be able to protect consumers funds similar to how the FDIC works with stocks.
In my view, NFTs are not something the SEC will regulate as a stock. However, the Federal Government has the ability to place a tax on the sale of an NFT (similar to a sales tax).
- Don’t Rule OUT the Possibility of Regulation
There is a possibility that the U.S. Government treats NFTs like a stock because of the recent dealings with FTX. The FTX scandal raised national coverage and millions of people lost their money. This might have caused the Government to now take the crypto industry more serious.
Overall, we don’t know what will happen if the Government steps in.
- It potentially could send BTC and ETH flying if institutional investors start to trust the asset class. (Billions of Dollars Could Pour in)
Non-Affiliated (BAYC) Meetups Between Holders
Many holders like to have meetups to relax, hangout, and share new ideas amongst each other. This happens globally from both NFT collections. One for example is a meetup in that occurred in the U.K. amongst BAYC holders as shown:
Many holders end up making life long connections with one another because hanging out with friends from the same collection can be a fantastic way to connect with like-minded individuals.
(Now I’m Shifting Focus To The Other Collection.. Majority of the information I’m going to cover about Doodles is mentioned in my other article) … It’s linked)
Doodles
Doodles is a brand that was created by Jordan Castro, Evan Keast, and Scott Martin. (“Poopie”, “Tulip”, and “Burnt Toast”). Doodles NFTs are categorized amongst many different designs such as cats, humans, pickles, flowers, skeletons, and aliens.
For Example:
Each one of these types of artworks were designed by Scott “Burnt Toast” Martin. The collection has over 100 different traits with some being “rarer” then others. For example, Rainbow Pukes, Aliens, Dinos, Etc.. There is a total of 10,000 pieces which was launched on October 17, 2021 with a mint price of 0.123 ETH each.
There is the DoodleBank which is collectively referred to as a DAO. Where proposals get submitted and each doodle represents one vote in passing certain initiatives by community members that is paid for by the DoodleBank.
Investments/Management
The Doodle team also made an announcement last year stating that Julian Holguin will become their new CEO. Mr. Holguin has major experience in the music industry as his prior work experience was him being President of Billboard.
The Doodle team in the past year has announced major milestones such as Pharrell Williams joining the brand as Chief Brand Officer and becoming a board member. Pharrell has been seen in different posts representing Doodles with a hat. Doodles also has stated that there would be an upcoming music album produced by Columbia Records & Pharrell.
The Doodle team also received venture capital investment from multiple firms, but one most notable as Alexis Ohanian’s venture capital firm Seven Seven Six. Katelin Holloway (co-founder of Seven Seven Six) joined Doodles’ board as well.
The Doodles brand has put on multiple immersive experiences at SXSW, NFT NYC, and Miami Art Basel. The Doodles team truly wants all of their NFT holders to be able to become their Doodle and be emerged in the “Doodleverse”.
Experiences Included: SXSW, NFT NYC (Genesis Factory), Miami Art Basel (DoodlePutt)
- Doodles had The Chainsmokers perform at their Keynote @NFT NYC
Influential Holders
@Doodlifts (Creating a lifestyle brand around headband doodles)
deepbluesteeve (Creating a mini game out of the Doodles Ecosystem)
@alchemychains (Creating a business selling custom chains)
Non-Affiliated (Doodles) Meetups between Holders
Like I mentioned above, holders like to come together to share the same interests. For example, One is coming up LA amongst Doodle members if anyone can make it!
In the past, Doodle holders got together in the U.K. for a meetup that was hosted by @TokyoSexWhale_
Products Offered by Doodles (Utility): Doodles 2
Dooplicator & Genesis Box (MOST RECENT NEWS)
The Dooplicator was airdropped to all OG Doodle holders and most recently we have the complete rundown of what the Dooplicator will do in “Doodles 2”
- “Poopie” Jordan Castro showed off these teasers in a series of threads on Twitter.
Once again another Doodle Holder broke down what “Poopie” was clarifying of the Dooplication Process: @SergioServantez
Genesis Box (Bucket Auction)
The Genesis Box is projected to be apart of the newest Doodles 2 that Doodles LLC is releasing. According to rumors, the Genesis Box will have wearables that the new Doodle on Doodles 2 will be able to wear as an avatar.
Doodles 2 & Space Doodles
Doodles 2 has similar intentions as Otherside in the YugaLabs project.
Instead of Doodles 2 being more of a complete video game like Otherside they are attacking the route of creating an avatar, something that could appeal to the masses, even non-video game players.
Rumors that Doodles 2 could be on the Flow Blockchain. Flow Blockchain is a proof-of-stake blockchain. One of the main features of the blockchain is that Flow focuses on scalability and performance. Flow is able to handle high transaction volumes with low transaction fees. Which is going to be crucial in order to be able to manage all of the Doodle wearable transactions.
The Flow Blockchain has already been in use for Instagram NFTs, Shopify, and many more. Some of their partners include: The NBA, UFC, Cryptokitties, Samsung, and many more. Here’s a link to their website for more: https://flow.com
Oh and Space Doodles… It could give Otherside a run for its money when we receive more information. WHO KNOWS?
NOW MY OWN PERSONAL VIEWS
Comparing Bored Ape Yacht Club and Doodles
First, there are several advantages to investing in non-fungible tokens (NFTs). One benefit is the opportunity to diversify your portfolio. NFTs also provide the chance to own a truly unique piece of digital art. The value of NFTs tends to increase over time due to their one-of-a-kind nature and the fact that they cannot be replaced once purchased. This makes them a good long-term investment. In addition, the popularity and technological advancement of NFTs is expected to lead to continued value growth. The secondary markets for NFTs offer additional opportunities to invest and potentially earn a profit.
The Bored Ape Yacht Club and Doodles are both excellent collections of digital collectibles. While they both have their differences, they also have a lot in common. For one, they are both exclusive and limited. This means that the pieces in the collections are one-of-a-kind and cannot be replaced.
The main difference between the two collections is their focus. The Bored Ape Yacht Club is focused on creating art pieces, while Doodles focuses on creating “doodles” that can be used to create your own art or to be shared with friends. This makes them both great investments, but depending on your interests, one may be preferable to the other.
As you can see above, both collections, BAYC and Doodles are extremely similar in every aspect, from throwing massive parties, utility purposes, expanding into the metaverse (Doodles has Space Doodles), exclusivity, and great communities. BAYC might be worth more than Doodles at this moment (Near $100K per Ape), but that’s why I believe Doodles are significantly undervalued at this moment in time.
If we hypothetically compare BAYC, YugaLabs, and Doodles to some of the largest technology companies in the stock market. This is how I think it will play out in the future:
- Apple Inc. can be similar as to BAYC & YugaLabs… BAYC last year gained world domination with attention and execution (Similar to how everyone as an iPhone nowadays) and blue texts lol. BAYC IS A STAPLE
- Samsung (Android) can be attributed to Doodles to where there is room for development and growth and the ability to customize your doodle to be you. Just like how Android allowed open development for users and some features like widgets and different home screens.
If I compare them like that… Just recently Apple Inc. announced widgets on its lock screens and opened up more ability to customize the iPhone. Could this be similar to what's happening in Web3 and NFTs?
Doodles and BAYC need each other to be successful in this growing field of technology. Each community should not be arguing on who’s collection is better. EVERY SINGLE NFT COLLECTION relies upon each other for massive adoption for all web2 users to convert to web3.
Future of NFTs (Bringing People Together)
The future of non-fungible tokens (NFTs) looks promising due to their increasing popularity and technological advancement. As more people become interested in collecting digital assets, the value of NFTs is expected to continue to rise. The proliferation of secondary markets for NFTs makes it easier for people to invest in them, and the variety of digital assets represented by NFTs means that there is something for everyone. These factors all contribute to the potential for profit through NFT investment.
As I was listening to the Daily Dose by Ryan Carson today (1/5/2023) @EzquireEth was a guest speaker on Twitter Spaces.
@EzquireEth brought up some really good points that I wanted to share. He talked about how the most important thing from being in NFTs and the crypto community in general is the amount of connections that he has made. He went on to mention that it doesn’t matter about how much money you make from your trades. What really matters is the personal relationships we make around the world while being online. You never know what will happen when you make that first connection with someone with similar interests. I can personally relate to this while being in law school and seeing how this plays out in the legal field. It’s all about “Who you know”.
Finally, developing personal connections with others online allows us to feel more invested in our relationships and more likely to engage with and support each other. These connections also contribute to building trust and credibility, as we are more likely to work with and recommend individuals we have a personal relationship with. In addition, having personal connections can lead to new opportunities for growth and advancement through potential collaborations, referrals, and other opportunities. Personal connections are a crucial part of an online presence and investing time in cultivating these relationships can greatly benefit our success and satisfaction in the digital world.
Conclusion
In conclusion, it is clear that both NFT projects are quite similar in their approaches and offerings. Both projects have a strong focus on community and personal connections, which can be a valuable asset in a bear market. By building a loyal and engaged community, these projects have a better chance of surviving and even thriving during a market downturn.
If you’re interested in getting involved with the NFT market, then the Bored Ape Yacht Club and Doodles are both excellent collections to consider. They are both unique and exclusive collections, and they offer excellent opportunities for investors. Additionally, their respective membership programs provide access to exclusive pieces and other benefits. If you’re ready to get involved in the NFT market, then these collections are a great place to start.
(I hope I tried to evenly display the best of both BAYC and Doodles in an overall summary)
