Today, Bored Ape Yacht Club, an ape-themed NFT project, donated 66.45 ETH ($208,000) to Orangutan Outreach, an orangutan charity. At current prices, this amounts to a total donation to the charity of $850,000.
The donation was made with an Ethereum transaction, which was facilitated by the cryptocurrency donation platform The Giving Block. Anyone can use this platform to make a direct cryptocurrency payment to a variety of supported charities.
Orangutan Outreach, based in New York, was founded in 2007 with the goal of protecting orangutans in Borneo and Sumatra.
The Bored Ape Yacht Club quickly gained traction, with many crypto members changing their Twitter profile pictures to display their own bored apes. As a result of this interest, prices for these NFTs have skyrocketed, with the current floor price (the lowest price the NFTs are currently being sold for) now exceeding 15 ETH ($47,000).
On June 30, the group donated 135 ETH ($419,000) to a variety of animal charities, including a 33.75 ETH ($100,000) donation to Orangutan Outreach. Friends of Bonobos (a type of great ape) and Wright-Way Rescue, which rescues pets, were among the other charities.
The Bored Ape Yacht Club is a group of NFTs that feature a variety of — you guessed it — bored apes. However, NFT owners gain additional benefits, such as the ability to draw pixels on a shared digital canvas. (They do this by signing in with their Ethereum wallets, demonstrating ownership of the NFT in question — a decentralized alternative to signing in with Facebook or Google.)
The NFT collection was released on April 23, but it didn’t sell out until May 1. The cost of minting each ape was 0.08 ETH, which was approximately $220 at the time. With 10,000 NFTs, the project netted about $2.2 million.
On July 9, it donated 11.5 ETH ($36,000) to Orangutan Outreach via The Giving Block, including 5.75 ETH ($18,000). On July 28, it contributed 169 ETH ($524,000) to the same cause.
To put this in context, members of the crypto community jokingly refer to themselves as “apes” in reference to “aping into” a hot new project or NFT collection. (This is why FTX CEO Sam Bankman-Fried keeps a “APE SZN” sign next to his desk, which stands for “ape season.”)