Written by Viraj Desai

Published on August 18, 2021

Orangutan Charity Receives $850,000 From Bored Ape NFT

Leading non-fungible token Bored Ape Yacht Club has been a favourite amongst athletes, celebrities and NFT collectors. The concept has been popularised by celebraties such as Jay-Z, as profile pic non fungible tokens are being utilised as buyer’s profile picture on social media platforms such as Twitter. 

A donation of 66.45 ETH or $200,000 has been made to an orangutan charity by an ape-themed NFT mission named Bored Ape Yacht Membership. 
Orangutan Charity NFT
                          (Source: tickernews)
The charity has been a recipient of $ 850,000 so far including the current donation. Organised by crypto donation platform The Giving Block, the platform enables making a direct cryptocurrency cost to a number of charities. 

Based in New-York, the non-profit founded in 2007, is engaged in defending orang-utans in Sumatra and Borneo islands in Indonesia. 

NFT house owners of the Bored apes get some advantages along with the power to leverage pixels on a shared digital canvas. They sign in with Ethereum wallets, a decentralised substitute for signing in with Google or Facebook. The NFT assortment began its operations from April 23. 

The estimated price of minting each ape was $220 or 0.08 ETH at the time but it has been able to scale up the mission with 10,000 NFTs pooling in $2.2 million. 

The Membership has witnessed increasing popularity with many crypto members changing Twitter profile sharing bored apes. It has also resulted in skyrocketing of NFTs at above $47,000 or 15 ETH ($47,000).

In the previous rounds, a donation of $419,000 or 135 ETH was done by the group for a number of animal charities in June along with $100,000 or 33.75 ETH done to Orangutan Outreach. The other charities included Wright-Means Rescue, rescuer or pets and Buddies of Bonobos (bonobos being a sort of nice ape).  

On July 9, the Group had also donated $36,000 or 11.5 ETH by way of The Giving Block, along with $18,000 or 5.75 ETH to Orangutan Outreach while a donation of $524,000 or 169 ETH had been done on July to identical trigger.
It is said that members of crypto group discuss themselves as apes in context of getting into new mission or NFT assortment. 

Bored Ape NFTs are novel, as they have been done using an algorithm designed by Yugo Labs, combing characteristics and traits such as fur colour and accessories. Traits like illustrated lasers from an Ape’s eyes are not just rare but also allure extremely high prices. 

Earlier in the week, a party hat–wearing Ape with lasers shooting from eyes was sold for $653,344 on OpenSea earlier in the week. 

It is estimated that there are a little more than 10,000 Bored Ape Yacht Clubs with each having diverse characteristics and traits. 

There are a host of advantages of using the “bored ape” avatars including access to digital graffiti wall or The Bathroom Wall. The Bored Ape Yacht Club NFT’s are about to touch trading volumes of $100 million, according to blockchain-tracker DappRadar.

About Viraj Desai

Viraj Desai is a former banker turned communications professional with over ten years of experience across Financial institutions, multilaterals media and corporates. He has over ten years of experience including a stint as a financial journalist with India's largest business daily, The Economic Times, covering energy and infrastructure policy developments in India. He has also led communications for advisory projects in the International Finance Corporation,World Bank's private sector arm. Mr Desai has a Masters in Public Policy from TERI School of Advanced Studies, graduation from Madras University, a diploma in Journalism and a certification from the MICA Institute, Ahmedabad on Data Analytics.

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