Bored Ape 遊艇俱樂部的興衰：NFT 熱潮如何爆發和崩潰

從洛杉磯漢堡店的街區排起長龍，到集體訴訟，Bored Ape 遊艇俱樂部經歷了一段瘋狂的歷程。

Bored Ape Yacht Club (BAYC), the flagship NFT collection launched in 2021 by Yuga Labs, experienced a meteoric rise during the NFT boom, capturing the attention of mainstream media and celebrities alike. However, as the NFT market crashed in 2023, so did the value of the apes, leading to widespread disappointment among investors.

Yuga Labs 於 2021 年推出的旗艦 NFT 系列《Bored Ape Yacht Club》（BAYC）在 NFT 熱潮中迅速崛起，吸引了主流媒體和名人的注意。然而，隨著 2023 年 NFT 市場崩盤，猿猴的價值也隨之下跌，導致投資人普遍失望。

Despite the initial success, BAYC's floor price on OpenSea hit an all-time low — down 90 percent from its peak. This fall was further compounded by regulatory scrutiny and skepticism from TradFi sectors, which questioned the sustainability and utility of NFTs beyond their initial novelty.

儘管取得了初步成功，BAYC 在 OpenSea 上的底價卻創下了歷史新低——比最高點下降了 90%。 TradFi 行業的監管審查和懷疑進一步加劇了今年的下跌，這些機構對 NFT 的可持續性和實用性提出了質疑，超出了其最初的新穎性。

To understand how the apes blew up in the first place, it's important to note that the art of Bored Ape Yacht Club was never the selling point.

要了解猿類最初是如何爆炸的，需要注意的是，無聊猿遊艇俱樂部的藝術從來都不是賣點。

“It’s immediately identifiable and polished enough that it pops even in contrast to other NFT projects that are doing the same thing,” Olson told Mashable. “BAYC, Humanz, and other ‘success stories’ do at least have artwork that looks like someone at some point spent some meaningful investment of their finite mortal lifespan working on [it], which does manage to stand out in contrast to imitators that were literally assembled in an afternoon.”

Olson 告訴 Mashable：“它很容易被識別，而且足夠完善，即使與其他做同樣事情的 NFT 項目相比，它也很流行。” 「BAYC、Humanz 和其他『成功故事』至少確實有一些藝術作品，看起來像是有人在某個時候花了他們有限的凡人壽命進行一些有意義的投資來創作它，與那些模仿者相比，它們確實脫穎而出。

In his documentary Line Goes Up — The Problem with NFTs, Olson describes an average NFT buyer as flush with money, lacking business acumen, socially isolated, and chronically online. A primarily male audience that's equivalent to housewives who fall victim to Multi-Level Marketing schemes — groups of people who spend a lot of time alone at home and who feel marginalized from traditional avenues of wealth.

奧爾森在他的紀錄片《Line Goes Up — NFT 問題》中將普通 NFT 買家描述為資金充裕、缺乏商業頭腦、社交孤立、長期上網的人。主要是男性受眾，相當於多層次傳銷計畫受害者的家庭主婦——這些人花很多時間獨自在家，感覺自己在傳統的財富途徑中被邊緣化。

The culture of buying digital art has also changed significantly in the past decade. In the early 2010s, niche corners of the internet saw 4chan and Reddit users buying Pepe the Frog memes. For example, Feels Good Man had a totally wild scene from 2020 showing a man spending $39,000 on a Homer Simpson Pepe ’cause he “thought it was funny.”

在過去的十年裡，購買數位藝術品的文化也發生了巨大的變化。 2010 年代初，4chan 和 Reddit 用戶在網路的小眾角落購買了 Pepe the Frog 表情包。例如，2020 年的《Feels Good Man》中有一個完全瘋狂的場景，展示一名男子花費 39,000 美元購買 Homer Simpson Pepe，因為他「認為這很有趣」。

The initial craze started when digital artist Beeple sold his NFT collection during a Christie Auction House sale for $69 million. However, many of the newsworthy NFT purchases were of internet memes sold by the minor internet celebrities immortalized in them. “Overly Attached Girlfriend,” “Disaster Girl,” and “Nyan Cat” sold for hundreds of thousands of dollars.

最初的熱潮始於數位藝術家 Beeple 在佳士得拍賣行拍賣會上以 6900 萬美元的價格出售了他的 NFT 收藏品。然而，許多具有新聞價值的 NFT 購買都是由其中永垂不朽的小型網路名人出售的網路迷因。 《過度依戀的女友》、《災難女孩》和《年貓》售價數十萬美元。

And while the language surrounding NFTs as a way for artists to have more control of their art has some merit, Olson and many others have rightly pointed out that NFTs mostly exist to get people to buy crypto. The reality since its inception is that crypto isn’t really spendable. Thus, that initial meme community was then co-opted by self-serious finance bros with little understanding of niche internet culture and saw NFTs more as a genuine financial investment — which is a big part of how they got such a bad rap.

儘管圍繞 NFT 作為藝術家更好地控制其藝術的一種方式的說法有一定的優點，但 Olson 和許多其他人正確地指出，NFT 的存在主要是為了讓人們購買加密貨幣。自誕生以來的現實是，加密貨幣並不是真正可以消費的。因此，最初的迷因社群隨後被自以為嚴肅的金融兄弟所吸收，他們對利基網路文化知之甚少，並將NFT 更多地視為一種真正的財務投資——這也是他們名聲如此糟糕的一個重要原因。

One BAYC buyer who spoke to Mashable anonymously out of concern that they might be doxxed said that they had bought two apes early on for 1-2 ETH each — worth around $1-4000 each at the time.

一位出於擔心自己可能被人肉搜尋而匿名接受 Mashable 採訪的 BAYC 買家表示，他們很早就以每隻 1-2 ETH 的價格購買了兩隻猩猩，當時每隻價值約 1-4000 美元。

“I guess what drew me to purchase one was the financial gain. I saw the opportunity and saw the writing on the wall that there was a market for it,” they said. “It was around COVID, people were lonely and it was a community people had on Discord and Twitter. You had your ape identifier and people would fuck with you based on that. It gave people something to be a part of and be included.”

“我想吸引我購買的原因是經濟收益。我看到了機會，也看到了不祥之兆，那就是它有市場。 「在新冠疫情期間，人們感到孤獨，這是人們在 Discord 和 Twitter 上建立的社群。你有你的猿類標識符，人們會根據它來對付你。它讓人們有機會參與並融入其中。

And while they noted the absurdity of trading pictures of cartoons, the buyer sees their purchase as a foot in the door for a crypto future.

儘管他們注意到交易卡通圖片的荒謬性，但買家認為他們的購買是邁向加密貨幣未來的一步。

“I think the utility is there long-term with NFTs, once larger things are tokenized like house deeds or ticketing,” they told Mashable. “So while the whole cartoon ape thing is absurd, this is really the beginning stages. Within the space, new metas happen and people flock to whatever is hot and apes were hot because NFTs were the hot thing.”

他們告訴 Mashable：“我認為，一旦房屋契約或票務等較大的事物被代幣化，NFT 的實用性就會長期存在。” 「因此，雖然整個卡通猿猴的事情很荒謬，但這確實是開始階段。在這個領域中，新的元數據發生，人們湧向任何熱門的事物，而猿類很熱門，因為 NFT 很熱門。

Bored Ape Yacht Club, specifically, beyond the lucky timing and social connections just stood out from other NFTs in the marketplace. As Olson explained, unlike other tokens Yuga Labs came off as one of the only “functioning adults” in the space. That in combination with a “strong outsider-chic, above-it-all narrative” that was “very effective on technocratic crypto investors.”

具體來說，Bored Ape Yacht Club 除了幸運的時機和社交關係之外，還從市場上的其他 NFT 中脫穎而出。正如 Olson 所解釋的那樣，與其他代幣不同，Yuga Labs 是該領域唯一的「正常運作的成年人」之一。這與「強烈的局外人時尚、最重要的敘事」相結合，「對技術官僚加密貨幣投資者非常有效」。

“Their aesthetic, the irreverent attitude of their marketing materials, it was, from a product and marketing standpoint, well sculpted for their target market,” Olson said. “I suspect that they chose to base BAYC off apes in specific as an outgrowth of the use of [the term] ‘ape’ and ape-imagery in the meme stock mania that was still ongoing at the time and had very strong overlaps with crypto in terms of audience and messaging.”

奧爾森說：“從產品和行銷的角度來看，他們的美學、行銷材料的不敬態度都是為他們的目標市場精心打造的。” 「我懷疑他們選擇將 BAYC 以猿為基礎，具體是因為當時仍在持續進行的模因股票狂熱中使用『猿』和猿圖像的[術語]，並且與加密貨幣有很強的重疊在受眾和訊息傳遞方面。

When NFTs were trendy, true believers thought their

當 NFT 流行時，真正的信徒認為他們的