The Bored Ape Yacht Club (BAYC) is an NFT project that has gained significant popularity in the crypto space. But what many people don’t know is that BAYC was not originally built on the Ethereum blockchain, as most of its NFT projects are. Instead, it was initially launched on the Flow blockchain.
Why did BAYC choose to build on Flow?
BAYC was created by Yuga Labs, a company that specializes in creating NFT projects. When Yuga Labs first started working on BAYC, they faced several challenges with the Ethereum network. One of the main issues was that Ethereum’s gas fees were becoming increasingly expensive and slow, making it difficult for users to mint and trade NFTs.
In addition to high gas fees, Ethereum’s smart contract execution times can be quite slow, which can be a problem for projects that require fast and efficient execution of contracts. This is especially true for projects that involve real-time transactions, such as games or marketplaces.
Flow, on the other hand, was designed to address these issues. It was created by Dapper Labs, a company that specializes in creating blockchain platforms for games and NFTs. Flow uses a delegated proof-of-stake consensus algorithm, which is much faster and more efficient than Ethereum’s proof-of-work algorithm. This allows for faster and cheaper transactions, making it an attractive option for projects like BAYC.
In addition to its faster transaction speeds, Flow also has several other unique features that make it well-suited for NFT projects. For example, Flow supports multiple digital assets on the same chain, which can be useful for projects that involve collecting and trading multiple types of NFTs. Flow also has built-in support for games, allowing developers to easily create and deploy games on the platform.
Impact of building on Flow
Building BAYC on Flow has had a significant impact on the project’s success. One of the main benefits of building on Flow is that it has allowed BAYC to offer much faster and cheaper transactions than it could have on Ethereum. This has made it easier for users to mint, trade, and collect NFTs, which has helped to drive adoption and demand for the project.
In addition to faster and cheaper transactions, building on Flow has also allowed BAYC to offer unique features and experiences that are not possible on Ethereum. For example, BAYC’s “Ape Adventure” game is built on Flow and allows users to collect and trade in-game assets as NFTs. This has helped to create a more engaging and interactive experience for users and has helped to differentiate BAYC from other NFT projects.
Comparing and contrasting Ethereum and Flow
Now that we have seen why BAYC chose to build on Flow, let’s take a closer look at the two blockchains and compare their unique features and benefits.