Can NFTs translate to real business opportunities?

Owning a Bored Ape Yacht Club (BAYC) NFT comes with a number of perks: verifiable digital clout, access to exclusive chats, and until recently, escalating price points.

But BAYC owners are trying to prove the NFTs are good for something else — building businesses in the physical world.

BAYC…

… promises that holders own exclusive licensing rights to their apes, including commercial rights. Multiple entrepreneurs are using those rights to build startups, and trying to show crypto skeptics the beauty of Web3 in the process:

• Bored Breakfast Club is a coffee subscription service and NFT collection built in collaboration with BAYC owners. Buying one of the NFTs grants access to free ape-themed coffee drops. The group also plans to open a roastery in the future.
• Bored & Hungry is an upcoming LA pop-up restaurant. Restaurateur Andy Nguyen spent $267k+ on a BAYC NFT to establish the brand’s theme.

Both projects…

… aim to prove how NFT owners can generate revenue streams beyond NFT sales and royalties.

If successful, they would go a long way in showing skeptics the utility of NFTs, and Web3 more broadly.

If not, at least we’ll always be able to say there was once a restaurant called “Bored & Hungry.”