Welcome to our new show, Web3 Breakdowns. We want to be your on ramp into this new decentralized world, and through conversations with builders, creators, and investors, we will do our best to help you understand and navigate this emerging ecosystem.
First up, we are breaking down the NFT project and cultural phenomenon, Bored Ape Yacht Club. To help break down Bored Apes, I am joined by Eric Golden, former Portfolio Manager at Fidelity and current Bored Ape owner. Eric and I start with an overview of the Bored Ape Yacht Club and his path to owning an NFT in the collection. We then use Bored Apes as a lens to understand how NFT projects are not just creating rare art but strong membership communities too. Beyond the cultural differences between NFT communities, it was fascinating to hear how projects are differentiating themselves with IP ownership, roadmaps, and DAOs. Please enjoy this breakdown of the Bored Ape Yacht Club.
For the full show notes, transcript, and links to the best content to learn more, check out the episode page here.
 
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Show Notes
[00:02:30] - [First question] - What the Bored Ape Yacht Club is
[00:03:39] - Motivations for owning a Bored Ape compared to traditional art 
[00:07:46] - The scope of prices, hierarchy, turnover, and trading overview of these NFTs
[00:09:51] - Distribution of rarity and why it matters 
[00:11:29] - How the project roadmap is managed by the member community
[00:16:23] - Who are the members and the key stewards of steering the ship
[00:18:08] - An example of a project where the owners don’t own the IP of their NFT
[00:20:56] - Underlying fundamentals and utility behind owning a Bored Ape 
[00:26:36] - Thoughts on fungible tokens inside of non-fungible projects
[00:29:06] - Ways to think about the value proposition of owning an Ape and an Ape token 
[00:30:36] - Different options for minting NFTs and their pros and cons
[00:34:36] - Literal mechanics of the minting process
[00:36:59] - Smart contract mediating of combining NFTs to generate rare ones
[00:39:20] - Building a bottom up brand and other examples of this trend
[00:41:50] - Are NFTs just gambling, or will they become investable assets like physical art
[00:46:09] - Blockchain infrastructure of the NFT space and whether it’ll stay on Ethereum
[00:48:48] - What makes the Bored Ape Yacht Club so innovative compared to other projects