Bored Ape Yacht Club is an NFT program that has been growing rapidly in popularity.
It has now donated $850,000 in cryptocurrency to the Ape Outreach organization.
An ape-themed NFT project called Bored Ape Yacht Club donated 66.45 ETH ($208,000) to an ape charity called Orangutan Outreach today. This brings their total donations to the charity to $850,000 at current prices.
The donation was made in an ethereum transaction, organized through the cryptocurrency donation platform The Giving Block. The platform enables anyone to pay cryptocurrency directly to a range of supported charities.
Founded in 2007, Orangutan Outreach is a New York-based non-profit organization focused on protecting orangutans in Borneo and Sumatra.
Bored Ape Yacht Club is a collection of NFTs featuring a range of – you guessed it – boring apes. But NFT owners get a few other perks, including the ability to paint likenesses on a shared digital canvas. (They prove they own the relevant NFT by logging in with their ethereum wallet – a decentralized alternative to a Facebook or Google login.)
The NFT series launched on April 23rd, but didn’t sell out until May 1st. Each ape cost 0.08 ETH to mint, which at the time was worth about $220 each. 10,000 NFTs meant that the project netted about $2.2 million.
Bored Ape Yacht Club quickly took over the market, with many cryptocurrency members changing their Twitter profile pictures to show off their own boring apes. As a result of this interest, the price of these NFTs rocketed upwards, with the current floor price (meaning the current minimum selling price of NFTs) being over 15 ETH ($47,000).
The group previously donated 135 ETH ($419,000) to a series of animal charities on June 30, including a donation of 33.75 ETH ($100,000) to Orangutan Outreach at the time. Other charities include Friends of Bonobos (Bonobos are a type of gorilla) and Wright-Way Rescue, which saves pets.
On July 9, it donated 11.5 ETH ($36,000) through The Giving Block, including 5.75 ETH ($18,000) to Orangutan Outreach, while on July 28, it donated 169 ETH ($524,000) to the same cause.
To illustrate this, members of the cryptocurrency community jokingly refer to themselves as “Orangutans,” referring to the idea of “copying” a popular new project or NFT series. (Hence, FTX CEO Sam Bankman-Fried has an “APE SZN” sign next to his desk, standing for “Ape Season.”)