The Bored Ape yacht club NFT project is so successful that I sometimes wonder if the team knew that their project was going to be this successful? The project has diverted from being a mere NFT project collection to diving into its own metaverse. The massive success that came with the project must have gotten the dev team thinking of ways to expand the project. First was the bored ape kennel NFT airdrop to bored ape NFT holders, which was worth a good number of ETH. Then came the airdrop of serum for Mutant Ape minting, also worth a good number of ETH. Then their own native token,$Ape, which was also airdropped to all NFT holders, worth a lot of money. Then a virtual land in preparation for the metaverse.
Who doesn’t want to get a Bored Ape NFT at this point? These are the perks for having a bored ape, creating higher demands and having lots of people trading these NFTs. I also wonder if they get overwhelmed by the massive demand and success of the project, besides it’s worth being proud by of and the project has made the team so rich,they will continue being rich as they collect royalties for every time the NFT gets sold and bought. The bored ape verse has created a lot of ETH trading volume on opensea, being on the Ethereum blockchain, its success must have been connected to the fact that lots of Ethereum enthusiasts invested in the project because they loved Ethereum and didn’t care about the Ethereum high gas fees.
Speaking of gas fees, Ethereum blockchain has one of the worst high gas fees compared to other blockchains, and it gets really worst when the network is congested, but because the Ethereum blockchain eco-system has one of the highest developments and developers coupled with a lot of rich folks, some of them don’t care about the gas fees and are willing to pay any amount to achieve that want to achieve. It’s only on the Ethereum blockchain that the cost of gas fees is way higher than the mint price to mint an NFT.
The Bored Ape verse NFT holders can testify to this, especially during mint days. The entities blockchain is always so congested because, lots of people are fighting for the spot of trying to own a bored ape verse NFT. This causes influx of transactions which gets the block validators really busy and they have to raise the gas fee higher. The last mint which was the otherdeed mint crashed the Ethereum blockchain, and we do know that besides Ethereum being a really good blockchain, scalability is its problem.
This is not something they would like to always experience where there is a high mint like this, people don’t have to pay high gas fees and wait for so long before their NFTs get minted. This was when they suggested for a separate blockchain.
The Ape team are not the first to think of having their own chain to tackle Ethereum’s scalability as we have lots of other chain that started their foundation in tackling Ethreum’s high gas fee and scalability issues. We have so many Ethereum killers, while some of them are doing a great job in tackling the issue, some can’t compare with its security.
