If you’ve been on Twitter for the past two years, chances are you’ve come across an influencer or celebrity sporting a Bored Ape Yacht Club (PFP) profile picture. The colorful cartoon monkey non-expendable tokens (NFTs) have become a cultural phenomenon since their launch in April 2021, serving as a status symbol for collectors of the 10,000-piece digital art collection.

Although some may roll their eyes at the collection’s vulgar art style and fervent adoration among Twitter degens, the project combined several novel concepts, including publishing a roadmap, minting at a fixed price, introduction of long-term utility and delivery of intellectual property (IP) rights to holders, which transformed the NFT market and became the model for new projects. It has also led to two…