Breaking Down The Traits Of The Bored Ape Kennel Club (BAKC)

The Bored Ape Kennel Club (BAKC) is a collection of 9,602 unique non-fungible tokens (NFTs) launched on the Ethereum blockchain by Yuga Labs in June 2021.¹ The collection serves as a companion to the flagship Bored Ape Yacht Club (BAYC) project and was initially offered for free, plus gas fees, to all BAYC holders as a reward for their early support and as a means of expanding the ecosystem.¹

Each BAKC NFT is a programmatically generated piece of digital art depicting a cartoon dog, with each token possessing a unique combination of over 170 possible traits.⁶ These NFTs are stored as ERC-721 tokens, a standard for unique digital assets on the Ethereum network, and are hosted on the InterPlanetary File System (IPFS).² The project was designed with a dual purpose: to function as a desirable collectible with full commercial rights for its owners and to serve as a utility-bearing asset within the broader Yuga Labs ecosystem. This utility has been demonstrated through integrations with the ecosystem’s native currency, ApeCoin (APE), and its planned role as playable characters in the Otherside metaverse.²

History and Launch

Conception and Rationale

The Bored Ape Kennel Club was conceived by the founders of Yuga Labs, who operate under the pseudonyms Gordon Goner (Wylie Aronow), Gargamel (Greg Solano), No Sass (Zeshan Ali), and Emperor Tomato Ketchup (Kerem Atalay).¹ The primary rationale for the collection was to reward the burgeoning BAYC community and deepen engagement within the ecosystem.¹ The official lore states that “it gets lonely in the swamp sometimes,” and therefore, every Bored Ape should have a “four-legged companion”.⁸

This strategy of rewarding existing holders with a new, free collection followed a precedent set by earlier influential NFT projects like Larva Labs’ CryptoPunks, whose owners were later able to claim Meebits NFTs for free.⁴ By providing additional value to its earliest supporters, Yuga Labs fostered significant community loyalty. The company has also publicly stated that no further dog-themed collections will be released, cementing the BAKC’s fixed supply and unique position within the Yuga Labs canon.²

The “Adoption Drive” (Airdrop Mechanics)

The launch of the BAKC collection was framed as a week-long “adoption drive” that began on June 17, 2021.² During this period, every wallet holding a Bored Ape Yacht Club NFT was eligible to “adopt” one Club Dog NFT for each Ape they owned.⁹ The adoption, or minting, was free of charge; holders were only required to pay the standard Ethereum network transaction fee, commonly known as a gas fee.¹

At the time of minting, the BAKC NFTs were unrevealed, meaning the specific traits and appearance of each dog remained hidden. The official reveal took place at 6:00 p.m. EST on June 25, 2021, after the adoption window had closed and a randomized starting index was set.⁴ This mechanism created a period of anticipation and speculation within the community.

Out of a potential 10,000 dogs corresponding to the 10,000 Bored Apes, only 9,602 were claimed by the deadline. According to project lore, the 398 unclaimed dogs were “released into the swamp, never to be seen again,” which effectively fixed the collection’s total supply at 9,602.⁵ This time-limited claim period created a sense of urgency and established immediate scarcity, which in turn fueled a robust secondary market for those who had missed the initial adoption window or wished to acquire more dogs.

Initial Charitable Initiative

A significant component of the BAKC launch was a philanthropic effort focused on animal welfare. For the first six weeks following the collection’s debut on secondary markets like OpenSea, Yuga Labs implemented a 2.5% royalty fee on all BAKC sales.¹ The company pledged that 100% of the proceeds generated from this fee would be donated to animal-related charities, with a specific focus on no-kill animal shelters.⁶

The donations were facilitated through the crypto-native platform The Giving Block, with Wright-Way Rescue being one of the named recipient organizations.⁹ While a precise total raised exclusively from BAKC royalties was not disclosed, a BAYC announcement on June 30, 2021, confirmed a donation of 135 ETH (valued at approximately $291,000 at the time) to various animal charities, directly linking the contribution to the launch of the Kennel Club.¹ By the end of 2021, Yuga Labs’ total donations to animal charities, including significant contributions to Orangutan Outreach, had reached nearly $900,000.⁵

After the six-week charitable period concluded, the 2.5% royalty fee was removed entirely.⁹ The fee was briefly reinstated in late December 2022, with founder Gordon Goner citing the need to fund further development, before being adjusted again in line with evolving marketplace royalty standards.¹³ This initial charitable component was instrumental in generating positive sentiment and community goodwill, framing the collection’s launch not merely as a commercial endeavor but as a community-driven event with a positive real-world impact.

Logo Controversy

In February 2023, the BAKC collection became the subject of a copyright controversy when community members discovered that its logo, which prominently featured a stylized wolf skull, was nearly identical to a drawing tutorial published by the company Easy Drawing Guides.¹⁸ Easy Drawing Guides confirmed via social media that Yuga Labs did not possess a license to use the image for commercial purposes, as the intellectual property rights belonged to them.¹⁸

Yuga Labs co-founder Greg Solano publicly addressed the allegations, stating that the team had been unaware of the infringement and had hired a freelance artist to create the logo design.¹⁸ In a swift and transparent response, Solano announced that Yuga Labs was investigating the matter, had contacted both the freelancer and Easy Drawing Guides, and would be changing the logo immediately. The contentious logo was promptly removed from the collection’s page on marketplaces like OpenSea and was replaced with a new design featuring the stylized text “BAKC”.¹⁸ The incident served as a notable case study on the operational risks related to intellectual property vetting for rapidly growing Web3 brands, while the company’s quick resolution was largely seen as an effective example of crisis management within a community-centric space.

Collection Characteristics

Artwork and Aesthetic

The Bored Ape Kennel Club collection adheres to the “irreverent cartoon style” established by its parent collection, BAYC.¹ The official lore positions the dogs as the loyal pets of the Bored Apes, who, according to the backstory, became billionaires after “aping” into cryptocurrencies.¹ The art style evokes a “vivid, comical, dive-bar aesthetic” that blends futuristic and retro elements, featuring accessories ranging from tennis balls and bow ties to jetpacks and missile launchers.¹

A key artistic distinction between BAKC and BAYC is the use of backgrounds. While the original Bored Apes are set against simple, solid-color backdrops, each BAKC NFT is situated within a fully illustrated environment.¹ These backgrounds, which include settings like a swamp, an outhouse, a bar interior, and the exterior of the Bored Ape clubhouse, serve as an additional layer of rarity and contribute to the world-building of the BAYC universe.¹ This design choice represented an evolution in Yuga Labs’ approach, adding more narrative depth and visual complexity to the companion collection.

Generative Traits and Rarity

Each of the 9,602 BAKC NFTs is programmatically generated through the random combination of over 170 unique traits distributed across eight distinct categories.³ The number of possible variations within each category differs significantly, creating a complex system of rarity that is a primary driver of an individual NFT’s market value.

Trait Category	Number of Variations
Mouth	36
Head	32
Eyes	32
Neck	23
Feet	17
Back	16
Fur	16
Background	5

The rarity of individual traits varies widely. For instance, in the “Background” category, “Swamp” is the most common, appearing on 2,426 NFTs, while the “Club” background is the rarest, featured on only 786 NFTs.¹ Similarly, “Closed” eyes are a common trait found on 1,694 dogs, whereas “Blue Beams” (64 NFTs) and “Cyberware Eyes” (68 NFTs) are exceptionally rare and highly sought after.³ Other notable rare traits include the “Party Hat” (33 NFTs), “Solid Gold” fur, and the “Whiskey Barrel” neck accessory (0.87% of the collection).⁸

While statistical rarity is a crucial factor in valuation, the market has demonstrated that aesthetic appeal and thematic relevance also play a significant role. The interplay between scarcity and demand creates a nuanced valuation landscape. A clear example of this dynamic is the “Tie” neck trait; although it is statistically uncommon, appearing on only 202 NFTs, it is consistently among the lowest-priced traits on the secondary market, indicating that collectors do not find it as desirable as other, more thematically aligned accessories.⁸ Conversely, rare traits like the “Party Hat” and “Solid Gold Fur” command a substantial premium, as their aesthetic aligns with the collection’s themes of luxury and celebration, amplifying their value far beyond their statistical scarcity alone.⁸

Individual Trait Breakdown

The value and uniqueness of each BAKC NFT are determined by the specific combination of traits it possesses. The following is a breakdown of the eight trait categories and some of their individual traits ⁵:

Background (5 variations): These illustrated backgrounds depict various locations within the Bored Ape universe.¹
Bar ¹
Club ¹
Outhouse ¹⁰
Swamp ¹

Back (16 variations): Items worn on the back range from the practical to the futuristic.¹
Basketball Hoop ⁵
Beer Saddle ¹⁰
Cyberpunk Pack ¹⁰
Doggie Pack ¹⁰
Japanese Kunai Knife ⁵
Jetpack ¹
Mega-Rocket Launcher ¹⁰
Missile Launcher ¹
Service Vest ¹⁰
Toilet Paper Dispenser ⁵

Eyes (32 variations): This category contributes significantly to the character of each dog.⁵
Anime Eyes ²¹
Blue Beams ⁸
Closed ⁸
Cyberware Eyes ³
Third Eye ¹

Feet (17 variations): This category adds comical or stylistic elements.³
Boots ⁵
Cast ³
Flippers ³
High Tops / Sneakers ³
Wingtips ⁵

Fur (16 variations): These determine the primary color and texture of the dog.⁵
Brown ⁵
Cyberpunk ⁵
Solid Gold ⁸

Head (32 variations): This category includes various headwear and accessories.⁵
Beanie ³
Cowboy Hat ¹
Headband ³
Party Hat ⁸

Mouth (36 variations): These traits convey a wide range of expressions and moods.⁵
Breathing Fire ¹
Smile ⁵
Snarl ⁵
Tennis Ball ¹
Tongue Out ⁵

Neck (23 variations): This category provides another opportunity for customization and rarity.⁵
Bandana ⁵
Beer Keg ⁵
Bow Tie / Butterfly Knot ⁵
Collar ⁵
Tie ⁸
Whiskey Barrel ²¹

Market Performance and Valuation

Initial Market Reception and Growth

Immediately following the conclusion of the free claim period in June 2021, the Bored Ape Kennel Club established a vibrant secondary market on platforms such as OpenSea.⁵ The collection benefited immensely from its direct association with the rapidly appreciating Bored Ape Yacht Club, and its floor price, the price of the cheapest available NFT in the collection, quickly rose. By August 2021, the floor price for a BAKC NFT was approximately 3.6 ETH.⁵

The collection’s value continued to climb throughout the remainder of 2021, mirroring the bull run in the broader NFT market. The floor price reached 5.6 ETH by December 2021, solidifying its status as a “blue-chip” NFT collection despite its origins as a free airdrop.⁵

Peak Valuation and All-Time Highs

The market for Bored Ape Kennel Club NFTs reached its apex in the spring of 2022, a period of peak enthusiasm for the entire Yuga Labs ecosystem that was fueled by the highly anticipated launch of the Otherside metaverse project.²² On April 26, 2022, the floor price of the BAKC collection hit an all-time high of

14.4 ETH.²³ At the time, this valuation was equivalent to over $40,000. The collection maintained a high valuation throughout this period, trading at a floor of 8.8 ETH in March 2022.⁵

Bear Market Performance and Current Valuation

Following its peak in April 2022, the BAKC collection, along with the entire NFT market, entered a prolonged bear market. The floor price experienced a significant correction, declining by approximately 97% from its all-time high by mid-2024.²⁴

As of June 2024, the floor price for a BAKC NFT has stabilized in the range of 0.26 ETH to 0.27 ETH, equivalent to approximately $1,100.³ Despite this substantial decrease in value, the collection has demonstrated resilience. It maintains a total market capitalization of over 2,500 ETH (more than $10 million) and is held by a distributed base of over 5,100 unique owners.³ This indicates a persistent holder base that continues to value the assets for their long-term utility and collectible status within the Yuga Labs ecosystem.

Notable High-Value Sales

The Bored Ape Kennel Club collection has seen numerous high-value sales, underscoring its status as a premium asset class.

Sotheby’s “Ape In!” Auction: In a landmark sale in September 2021, the prestigious auction house Sotheby’s sold a single lot containing 101 BAKC NFTs for $1.835 million.¹ This event was pivotal, as it provided institutional validation from the traditional art world for a collection that was originally distributed for free, legitimizing it in the eyes of high-net-worth collectors.
BAKC #8800: This NFT holds the record for one of the most expensive individual BAKC sales, having been sold on August 6, 2021, for 75 ETH, which was valued at approximately $217,000 at the time of the transaction.⁵ Its high price was attributed to its combination of extremely rare traits, including a “Party Hat” (0.34% rarity) and a “Whiskey Barrel” neck accessory (0.87% rarity).⁸
Other High-Tier Sales: Several other BAKC NFTs have achieved sales of 50 ETH, including #1840 ($153,000), #5908 ($130,000), and #6050 ($150,000), all of which occurred during the market’s peak in late 2021 and early 2022.⁵
Anomalous Sale of BAKC #8234: In August 2022, a transaction for BAKC #8234 was recorded at approximately $500,000.²⁶ However, on-chain analysis of the sale suggested that it may have been a wash trade or a non-organic transaction intended to manipulate the collection’s perceived market value rather than a genuine arm’s-length purchase.²⁶

Role in the Yuga Labs Ecosystem

Holder Benefits and Intellectual Property

A core tenet of the Yuga Labs ecosystem is the granting of expansive intellectual property rights to its NFT holders. Ownership of a Bored Ape Kennel Club NFT includes full commercial rights to the underlying artwork.¹ This allows owners to create and profit from derivative works, merchandise, and other commercial ventures featuring their specific dog’s likeness, a model that has encouraged a vibrant ecosystem of community-led projects.²⁷

Beyond IP rights, holding a BAKC NFT grants access to the broader BAYC community, including its private Discord server and exclusive real-world events.¹ Over time, Yuga Labs has also provided specific perks tied to BAKC ownership. In July 2021, each BAKC holder was eligible to receive a physical basketball in a collaboration with the company Round21.² In December 2022, holding a BAKC provided additional benefits during the minting event related to the Jimmy the Monkey narrative arc.² These periodic rewards reinforce the value of holding assets within the ecosystem.

ApeCoin (APE) Integration

The Bored Ape Kennel Club plays a crucial role as a “utility multiplier” within the ApeCoin (APE) economy, enhancing the rewards available to holders of the primary Bored Ape and Mutant Ape collections.

Airdrop Bonus

When ApeCoin was launched and airdropped to asset holders on March 17, 2022, wallets holding a BAKC NFT in addition to a BAYC or MAYC NFT received a larger token allocation.² The bonus for pairing a dog with an ape was 856 APE, a significant financial incentive that immediately established the BAKC’s function as a value-enhancing asset.²⁹ The airdrop tiers were as follows:

Bored Ape holder: Claimed 10,094 APE.
Bored Ape + Kennel Club holder: Claimed 10,950 APE.
Mutant Ape holder: Claimed 2,042 APE.
Mutant Ape + Kennel Club holder: Claimed 2,898 APE.²⁹

ApeCoin Staking

The ApeCoin staking platform, which went live in December 2022, includes a dedicated staking pool exclusively for BAKC holders, allowing them to earn passive rewards in APE.³⁰ However, access to this pool is contingent on pairing the BAKC NFT with either a BAYC or MAYC NFT in the same wallet. A BAKC NFT cannot be staked on its own.³⁰

The maximum amount of APE that can be committed to the BAKC pool is 856 APE per paired NFT, a number that directly corresponds to the airdrop bonus.³⁰ For the first year of the program, the BAKC pool was allocated a total of 3,835,000 APE in rewards.³⁰

This staking mechanism introduced a significant risk for users. The staked APE is technically linked to the primary NFT (the BAYC or MAYC), which acts as the access key to the funds in the smart contract. Consequently, if a holder sold their Ape NFT without first unstaking the paired dog, the new owner of the Ape would gain control of the staked APE.³¹ This design, while logical from a smart contract perspective, was not intuitive for many users and led to several documented instances of traders losing their staked APE upon the sale of their primary NFT.³² To improve the system’s efficiency and user experience, the staking protocol has since migrated to ApeChain, a dedicated Layer-2 network that utilizes “Shadow NFTs” to facilitate delegation and reduce transaction costs.³¹

Otherside Metaverse Integration

The Bored Ape Kennel Club is slated for full integration into Otherside, Yuga Labs’ flagship metaverse project. Otherside is being developed as a gamified, interoperable virtual world with mechanics drawn from massively multiplayer online role-playing games (MMORPGs).¹²

Yuga Labs has officially confirmed that all BAKC holders will receive a 3D, game-ready model of their NFT upon the launch of the metaverse.¹² These 3D models will function as playable characters, allowing owners to explore and interact with the virtual world using their unique dog avatars. This utility provides a clear path for long-term value, transforming the BAKC NFTs from static 2D profile pictures into dynamic, functional assets within a major gaming and social platform.¹¹

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