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Showing posts from October, 2022

What are PsychoKitties NFT?

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  PsychoKitties: The New Era is a collection that features 10,000 unique, algorithmically generated kitties. These are metaverse characters, they all are unique and they come from 96 hand-drawn traits with different levels of rarity. Every Psychokitty is a little different from the other! No two PsychoKitties are exactly alike. They can be owned and the person gets a proof of ownership as they exist on the blockchain.  Before diving into psychokiities, it’s important to understand what are NFTs as psychokitties are NFTs. NFT Development has opened the doors for everyone to showcase their NFTs to the world and earn. NFTs are non-fungible tokens. Fungible means if you have one dollar and your friend has one dollar, and two of you exchange the dollar with each other, you two still have one dollar. However, this is not the case with NFTs. Each NFT is unique and one is not equal to another.  Psychokitties Psychokitties are loved by people. Holders of Psychokitties get early a...

The Bored Ape Yacht Club: What is It and How Was it Developed?

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  The Bored Ape Yacht Club (BAYC) is a collection of 10,000 profile picture-type NFTs residing on the Ethereum blockchain. It was created by a smart contract that chose 170 traits to generate 10,000 unique cartoon apes. Only 69 apes have “laser eyes.” BAYC is hugely popular because it has a close-knit community and consistently generates new content. How Was BAYC Developed? The Bored Ape Yacht Club was launched on April 30, 2021; it was created by pseudonymous founders Gargamel, Emperor Tomato Ketchup, Gordon Goner, and No Sass. After its launch, all 10,000 apes were minted within 12 hours. Since then, Yuga Labs, the company behind BAYC, has developed into a brand that includes NFT collections, cryptocurrency, and a metaverse project. In the seed funding round in March 2022, Yuga Labs secured funding of $450 million. Two other entities that operate BAYC are the ApeCoin decentralized autonomous organization (DAO) and the APE Foundation.  How Does BAYC Work? Bored Ape Yacht Club...