If you’re wondering what is MAYC after only recently grasping what BAYC is, you have the right to some confusion. You can think of MAYC as simply the sequel to the BAYC collection. But what makes it so special and how did it come to be? Read on for all your pondering answered.
What is MAYC (Mutant Ape Yacht Club)?
Just like their giant predecessors the Bored Apes, Mutant Apes are a production of Yuga Labs. The Mutant Ape Yacht Club dropped in a collection of 20,000 PFP NFTs as an expansion to the Bored Ape Yacht Club ecosystem. Each NFT within the collection was based on an original Bored Ape NFT. “Exposing the Bored Apes to a vial of Mutant Serum” is the process by which a Mutant Ape is born, as explained by Yuga Labs.
Of the 20,000 MAYC NFTs in the collection, 10,000 were allocated to BAYC holders. The other 10,000 were sold via Dutch auction. A Dutch auction is a sale that starts at a set amount and drops over time to the final sale amount. The auction started at 3 ETH (around $10,000 at the time) and was set to drop to 0.01 ETH over nine hours. But considering this is a Yuga Labs auction, it didn’t make it through the full nine hours. Instead, it only lasted roughly an hour and reached a final price of 2.79 ETH by the time all Mutant Apes were minted.
Today, the only way to possess a Mutant Ape is to purchase through secondary sale on an NFT marketplace. Nonetheless, if you have roughly $100k lying around, you can purchase a Bored Ape and a Serum to mutate it.
What are Mutant Serums?
Initially, BAYC holders had the option to pair their NFTs with an NFT Serum through a smart contract integration. Before the previously mentioned Dutch auction, every BAYC holder had one Mutant Serum airdropped to them for every BAYC owned.
This serum motivated users to mutate their NFTs and create new ones, or sell the Serum for a profit. Thus, the pairing process destroys the serum token and creates a new Mutant Ape NFT in the image of the original Ape. That is without making any changes to the original one.
The mutant serums come in 3 different varieties: M1, M2, and M3 often called the Mega Mutant Serum. Each type of serum corresponds to the stage of mutation it can achieve.
Originally, there existed 7,500 M1 Serums. These correlate to a base layer of mutated traits added to the Bored Ape. Users might see an Ape’s fur begin to disintegrate and accessories come alive. As for M2, with 2,492 of these capped, more pronounced mutations become accessible. M2 serums drastically and sometimes almost completely change the appearance of the Bored Ape.
On the other hand, once you utilize Mega Mutant Serum, the base features of the Bored Ape will completely change. M3 serum produces a Mega Mutant. These mega mutants are extremely rare, considering there are only 8 M3 serums ever. Consequently, both the M3 serums and the Mega Mutants usually summon millions of dollars.
Let’s Talk MAYC Numbers
At the time of writing this article, MAYC’s floor price is at 14.689 ETH (~ $24,280), dropping a solid 5% in the last 30 days. And a total market cap of 270,285.5 ETH (~$447,104,785).
- 24H volume 35.975 ETH
- Total Volume 484,605 ETH
- 12,208 owners
What is MAYC: Bottom Line
Although there is a ton of benefits to investing in MAYC and joining the community, it’s obviously not for everyone. The requirements to enter the club are extremely high and that’s why we don’t think it’s worth the trouble of an average investor.
So if you can’t invest in the MAYC NFTs just yet, keep a close eye on the future of this ecosystem because it has a big role in shaping the crypto world.
Lastly, if you’re looking to hop on the newest mints while they’re hot, check out these upcoming Solana NFTs and seize the opportunity.