What Happened to Bored Ape Yacht Club NFT?
The Bored Ape Yacht Club (BAYC) NFT collection, launched in April 2021, rapidly ascended to become a cultural phenomenon, attracting celebrity owners and reaching a peak floor price of over 128 ETH in May 2022. However, it has since experienced a significant decline in value amidst a broader crypto winter and cooling NFT market. Its creator, Yuga Labs, has pivoted to focus heavily on its Otherside metaverse project, while also navigating ongoing legal challenges related to trademark infringement and class-action lawsuits concerning unregistered securities.
Quick Answer
The Bored Ape Yacht Club (BAYC) NFT collection, once a symbol of digital status, has seen its market value plummet by over 90% from its 2022 peak, with its floor price currently around 6.03 ETH as of early 2026. Its creator, Yuga Labs, has shifted its strategic focus to developing the Otherside metaverse, acquiring key technology and talent in late 2025 to accelerate this vision, with major updates like Voyager 2.0 planned for 2026. The project has also been embroiled in significant legal battles, including a trademark infringement case where NFTs were recognized as 'goods' and a class-action lawsuit alleging unregistered securities, which was dismissed in late 2025 though plaintiffs were allowed to amend.
📊Key Facts
📅Complete Timeline14 events
Bored Ape Yacht Club Launches
The collection of 10,000 unique Bored Ape NFTs is minted on the Ethereum blockchain at 0.08 ETH and sells out within 12 hours, quickly gaining traction in the crypto art world.
Record-Breaking Sale at Sotheby's
Bored Ape #8817 sells for over $24 million at a Sotheby's auction, marking one of the most expensive NFT sales and highlighting the collection's burgeoning value.
ApeCoin ($APE) Token Launches
ApeCoin, a governance and utility token for the Web3 ecosystem, is launched by the ApeCoin DAO, with Yuga Labs holding a significant stake.
Yuga Labs Raises $450M, Acquires CryptoPunks & Meebits
Yuga Labs secures $450 million in seed funding, valuing the company at $4 billion, and acquires the intellectual property rights for the CryptoPunks and Meebits NFT collections from Larva Labs.
BAYC Floor Price Peaks
The Bored Ape Yacht Club floor price reaches its all-time high of 128-145 ETH, equivalent to approximately $354,000-$395,000 USD at the time.
Instagram Account Hacked
The official Bored Ape Yacht Club Instagram account is hacked, leading to the theft of several BAYC and related NFTs worth an estimated $3 million through a phishing link.
Yuga Labs Sues Ryder Ripps
Yuga Labs files a lawsuit against conceptual artist Ryder Ripps and Jeremy Cahen for trademark infringement and cybersquatting over their 'RR/BAYC' copycat NFT collection.
Class-Action Lawsuit Filed
A class-action lawsuit is filed against Yuga Labs and several celebrity promoters, alleging that BAYC NFTs and ApeCoin are unregistered securities promoted through undisclosed endorsements.
Floor Price Hits Multi-Year Low
The BAYC floor price drops to approximately 10.9-11.1 ETH, marking its lowest point since August 2021 and a decline of over 90% from its peak.
Yuga Labs Divests Meebits IP
As part of a strategic pivot to focus on its core brands, Yuga Labs sells the intellectual property for the Meebits NFT collection.
Ninth Circuit Rules on Trademark Case
The U.S. Court of Appeals for the Ninth Circuit reverses an $8.8 million summary judgment for Yuga Labs in the Ryder Ripps trademark case, remanding it for trial, but establishes a precedent by recognizing NFTs as 'goods' under trademark law.
Class-Action Lawsuit Dismissed (with leave to amend)
A U.S. federal judge dismisses the class-action lawsuit against Yuga Labs, ruling that plaintiffs failed to prove BAYC NFTs were securities, though allowing them to amend their complaint.
Yuga Labs Acquires Otherside Development Team & Tech
Yuga Labs acquires the Unreal Creator Platform and personnel from Improbable's Imporium team, bringing core Otherside metaverse development in-house to accelerate its roadmap.
Otherside Voyager 2.0 Roadmap
Yuga Labs outlines plans for 'Voyager 2.0' in the Otherside metaverse, promising new features like land-based production, item crafting, and an enhanced virtual economy.
🔍Deep Dive Analysis
The Bored Ape Yacht Club (BAYC) emerged in April 2021 as a collection of 10,000 unique digital ape NFTs on the Ethereum blockchain, quickly becoming a cornerstone of the burgeoning NFT market. Initially minted at 0.08 ETH, the collection sold out within 12 hours, fueled by a blend of artistic appeal, exclusive community access, and the burgeoning 'Web3' identity movement. Its rise was meteoric, attracting high-profile celebrities such as Justin Bieber, Snoop Dogg, and Jimmy Fallon, who proudly displayed their apes, further cementing BAYC's status as a digital luxury item and a symbol of crypto wealth. At its peak in May 2022, the BAYC floor price soared to an all-time high of 128-145 ETH, with individual apes selling for millions of dollars, and Yuga Labs, the parent company, achieving a valuation of $4 billion.
This rapid ascent was driven by a combination of factors: intense market speculation during the 2021-2022 crypto bull run, Yuga Labs' aggressive expansion strategy, and the promise of a vast interconnected ecosystem. Yuga Labs launched related collections like Mutant Ape Yacht Club (MAYC) and Bored Ape Kennel Club (BAKC), acquired the intellectual property for rival collections CryptoPunks and Meebits, and introduced the ApeCoin ($APE) token to power its ecosystem. A significant turning point was the announcement and land sale for the Otherside metaverse project in April 2022, which generated hundreds of millions in sales and aimed to create an immersive, interoperable virtual world.
However, the subsequent 'crypto winter' of 2022 and 2023 brought a dramatic downturn. NFT volumes evaporated, and BAYC's floor price plummeted by over 90% from its peak, reaching lows of around 10-11 ETH by April 2024. Celebrity-owned apes, like Justin Bieber's, saw their value implode, highlighting the speculative nature of the market. Beyond market forces, Yuga Labs faced increasing regulatory scrutiny and legal challenges. In June 2022, Yuga Labs sued Ryder Ripps and Jeremy Cahen for trademark infringement over their 'RR/BAYC' copycat collection. While a district court initially ruled in Yuga's favor, awarding $8.8 million, the Ninth Circuit Court of Appeals reversed the summary judgment in July 2025, remanding the case for trial, but notably affirming that NFTs can be considered 'goods' under trademark law. Separately, a class-action lawsuit filed in December 2022 alleged that Yuga Labs' NFTs and ApeCoin were unregistered securities promoted through undisclosed celebrity endorsements. This lawsuit was dismissed in September 2025, with the judge ruling that the plaintiffs failed to adequately allege that BAYC NFTs qualified as securities, though plaintiffs were granted leave to amend their complaint.
As of March 1, 2026, Yuga Labs has strategically refocused its efforts. In early 2025, it divested other NFT collections like Meebits and CryptoPunks to concentrate on its core BAYC brand and the Otherside metaverse. The Otherside project continues to be a central pillar, with Yuga Labs actively developing new gaming experiences and AI-powered creation tools. In December 2025, Yuga Labs acquired the Unreal Creator Platform and the Imporium team from Improbable, bringing core Otherside development in-house to accelerate its roadmap. The company plans to release 'Voyager 2.0' for Otherside by 2026, introducing features like land-based production, item crafting, and an enhanced virtual economy. Despite the significant market correction, BAYC maintains a notable presence, with its floor price hovering around 6.03 ETH ($11,830). The future of BAYC is now intrinsically linked to the success and adoption of the Otherside metaverse and Yuga Labs' ability to deliver on its ambitious Web3 vision amidst a more mature and regulated crypto landscape.