Bored Ape 游艇俱乐部的兴衰：NFT 热潮如何爆发和崩溃

从洛杉矶汉堡店的街区排起长龙，到集体诉讼，Bored Ape 游艇俱乐部经历了一段疯狂的历程。

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 于 2021 年推出的旗舰 NFT 系列《Bored Ape Yacht Club》（BAYC）在 NFT 热潮中迅速崛起，吸引了主流媒体和名人的关注。然而，随着 2023 年 NFT 市场崩盘，猿猴的价值也随之下跌，导致投资者普遍失望。

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.

尽管取得了初步成功，BAYC 在 OpenSea 上的底价却创下了历史新低——比最高点下降了 90%。 TradFi 行业的监管审查和怀疑进一步加剧了今年的下跌，这些机构对 NFT 的可持续性和实用性提出了质疑，超出了其最初的新颖性。

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.

要了解猿类最初是如何爆炸的，需要注意的是，无聊猿游艇俱乐部的艺术从来都不是卖点。

“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 告诉 Mashable：“它很容易被识别，并且足够完善，即使与其他做同样事情的 NFT 项目相比，它也很流行。” “BAYC、Humanz 和其他‘成功故事’至少确实有一些艺术作品，看起来像是有人在某个时候花了他们有限的凡人寿命进行一些有意义的投资来创作它，与那些模仿者相比，它们确实脱颖而出。真的是一个下午就组装好了。”

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.

奥尔森在他的纪录片《Line Goes Up — NFT 问题》中将普通 NFT 买家描述为资金充裕、缺乏商业头脑、社交孤立、长期上网的人。主要是男性受众，相当于多层次营销计划受害者的家庭主妇——这些人花很多时间独自在家，感觉自己在传统的财富途径中被边缘化。

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.”

在过去的十年里，购买数字艺术品的文化也发生了巨大的变化。 2010 年代初，4chan 和 Reddit 用户在互联网的小众角落购买了 Pepe the Frog 表情包。例如，2020 年的《Feels Good Man》中有一个完全疯狂的场景，展示一名男子花费 39,000 美元购买 Homer Simpson Pepe，因为他“认为这很有趣”。

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.

最初的热潮始于数字艺术家 Beeple 在佳士得拍卖行拍卖会上以 6900 万美元的价格出售了他的 NFT 收藏品。然而，许多具有新闻价值的 NFT 购买都是由其中永垂不朽的小网络名人出售的网络迷因。 《过度依恋的女友》、《灾难女孩》和《年猫》售价数十万美元。

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.

尽管围绕 NFT 作为艺术家更好地控制其艺术的一种方式的说法有一定的优点，但 Olson 和许多其他人正确地指出，NFT 的存在主要是为了让人们购买加密货币。自诞生以来的现实是，加密货币并不是真正可以消费的。因此，最初的模因社区随后被自以为严肃的金融兄弟所吸收，他们对利基互联网文化知之甚少，并将 NFT 更多地视为一种真正的金融投资——这也是他们名声如此糟糕的一个重要原因。

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.

一位出于担心自己可能被人肉搜索而匿名接受 Mashable 采访的 BAYC 买家表示，他们很早就以每只 1-2 ETH 的价格购买了两只猩猩，当时每只价值约 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.”

“我想吸引我购买的原因是经济收益。我看到了机会，也看到了不祥之兆，那就是它有市场。”他们说。 “在新冠疫情期间，人们感到孤独，这是人们在 Discord 和 Twitter 上建立的社区。你有你的猿类标识符，人们会根据它来对付你。它让人们有机会参与并融入其中。”

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.

尽管他们注意到交易卡通图片的荒谬性，但买家认为他们的购买是迈向加密货币未来的一步。

“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.”

他们告诉 Mashable：“我认为，一旦房屋契约或票务等较大的事物被代币化，NFT 的实用性就会长期存在。” “因此，虽然整个卡通猿的事情很荒谬，但这确实是开始阶段。在这个领域中，新的元数据发生，人们涌向任何热门的事物，而猿类很热门，因为 NFT 很热门。”

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.”

具体来说，Bored Ape Yacht Club 除了幸运的时机和社交关系之外，还从市场上的其他 NFT 中脱颖而出。正如 Olson 解释的那样，与其他代币不同，Yuga Labs 是该领域唯一的“正常运作的成年人”之一。这与“强烈的局外人时尚、最重要的叙述”相结合，“对技术官僚加密货币投资者非常有效”。

“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.”

奥尔森说：“从产品和营销的角度来看，他们的审美、营销材料的不敬态度都是为他们的目标市场精心打造的。” “我怀疑他们选择将 BAYC 以猿为基础，具体是因为当时仍在持续进行的模因股票狂热中使用‘猿’和猿图像的[术语]，并且与加密货币有很强的重叠在受众和信息传递方面。”

When NFTs were trendy, true believers thought their

当 NFT 流行时，真正的信徒认为他们的