The Mutant Ape Yacht Club (MAYC) burst into the NFT spotlight in January 2022 when Serum #69 sold for a staggering 1,542.06 ETH—equivalent to $5.8 million at the time. This landmark transaction not only marked the largest sale of a Bored Ape "serum" but also thrust MAYC into the upper echelons of the digital collectibles world. The buyer? Deepak Thapliyal, CEO of blockchain startup Chain, who outbid Meta4 Capital—a firm backed by Andreessen Horowitz—by just over 42 ETH.
This high-profile sale sparked widespread curiosity: Where did Mutant Apes come from? What exactly is a serum? And how does one transform a Bored Ape into a Mutant Ape? Let’s dive deep into the origins, mechanics, and future potential of the Mutant Ape Yacht Club.
The Origins: Bored Ape Yacht Club (BAYC)
To fully grasp MAYC, we must first explore its predecessor—the Bored Ape Yacht Club.
Launched in April 2021 by Yuga Labs, BAYC introduced 10,000 uniquely generated ape avatars, each with randomized traits like clothing, expressions, and accessories. These digital apes quickly became status symbols in the crypto space, amassing a billion-dollar secondary market and attracting celebrities and investors alike.
Ownership of a Bored Ape NFT grants access to an exclusive community with real-world perks, private events, and commercial usage rights. As of 2025, the floor price hovers around 124.89 ETH, making it a luxury asset accessible only to high-net-worth individuals.
But Yuga Labs had bigger plans.
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Expanding the Universe: The Birth of Mutant Ape Yacht Club
Rather than capping the BAYC ecosystem at 10,000 members, Yuga Labs sought to democratize access. Enter: Mutant Ape Yacht Club (MAYC)—an expansion project launched in August 2021 after all original Bored Apes were sold.
MAYC added 20,000 new mutant apes to the ecosystem through a dual distribution model:
- 10,000 mutant apes were made available to existing Bored Ape holders via mutant serums
- The other 10,000 were offered to the public through a Dutch auction
This strategic rollout allowed loyal BAYC members to expand their digital portfolios while opening the door for new entrants at a lower cost point than purchasing a Bored Ape outright.
How the Serum System Works
On August 28, 2021—coinciding with the Dutch auction—every Bored Ape NFT holder received a free mutant serum airdropped to their wallet. There were three types:
- M1 Serum (7,500 issued) – Standard mutation with subtle visual changes
- M2 Serum (2,492 issued) – Enhanced mutation with rarer traits
- Mega Mutant Serum / M3 (8 issued) – Ultra-rare transformation producing highly unique apes
To create a Mutant Ape, owners simply “inject” their Bored Ape with a serum using the official MAYC platform. The process burns the serum, meaning it can only be used once. After mutation:
- The original Bored Ape remains intact
- A brand-new Mutant Ape NFT is generated and added to the owner’s wallet
This innovative mechanism allowed collectors to double their holdings—keeping their prized Bored Ape while gaining a new, tradable asset.
For those without a Bored Ape, the remaining 10,000 Mutant Apes were sold via Dutch auction. Starting at 3 ETH, the price dropped incrementally until all tokens were claimed—making entry more accessible compared to BAYC’s soaring floor price.
Key Differences Between BAYC and MAYC
While both collections share lore and utility, there are notable distinctions:
- Rarity & Value: BAYC remains more valuable due to scarcity and first-mover status
- Access: MAYC offers a lower-cost gateway into the Yuga Labs ecosystem
- Visual Style: Mutant Apes feature distorted, glowing, or grotesque features—giving them a post-apocalyptic edge
- Community Role: Both enjoy equal standing in future roadmap developments
Current Market Performance and Popularity
As of 2025, the Mutant Ape Yacht Club maintains strong momentum in the NFT market:
- Floor price: ~32.1 ETH ($99,397)
- Total market cap: ~598,838.85 ETH ($1.84 billion)
Despite being an offshoot collection, MAYC has carved out its own identity and collector base. Its combination of exclusivity, narrative depth, and utility ensures continued relevance in the evolving Web3 landscape.
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Frequently Asked Questions (FAQ)
Q: Can I still get a mutant serum today?
A: No. All mutant serums were airdropped exclusively to Bored Ape holders on August 28, 2021. They are no longer distributed and must be purchased on secondary markets—if available.
Q: Is a Mutant Ape NFT less valuable than a Bored Ape?
A: Generally, yes. Due to higher supply and later launch timing, MAYC apes trade at a lower floor price than BAYC. However, rare traits or M3-derived mutants can command significant premiums.
Q: What happens if I mutate my Bored Ape? Do I lose it?
A: No. The mutation process creates a new NFT. You retain full ownership of your original Bored Ape while gaining a Mutant Ape.
Q: Can I use more than one serum on the same ape?
A: No. Serums are single-use and burn upon application. Once mutated, an ape cannot undergo further transformations.
Q: Are there benefits to owning a Mutant Ape beyond aesthetics?
A: Yes. MAYC holders enjoy access to exclusive events, merchandise, and future utilities within the Yuga Labs ecosystem—including potential gaming integrations.
Q: Will there be more serums or mutations in the future?
A: There are no official plans for additional serums. However, Yuga Labs has hinted at expanding the narrative through new projects and cross-collection experiences.
The Road Ahead: Gaming and Beyond
Yuga Labs has signaled ambitious plans for the future. In recent years, they acquired two major NFT projects—CryptoPunks and Meebits—laying the foundation for a shared metaverse experience.
In partnership with Animoca Brands, a leader in blockchain gaming, Yuga is developing a play-to-earn (P2E) game that will integrate characters from BAYC, MAYC, and other collections. This move could redefine NFT utility by transforming static avatars into interactive game assets.
As one Yuga spokesperson stated:
“We’re excited to work with Animoca Brands to grow the BAYC universe and expand the utility and benefits offered to all Bored Ape NFT holders.”
Such initiatives promise to deepen engagement across the entire ecosystem—making MAYC not just a collectible, but a long-term digital identity.
With its compelling origin story, innovative tokenomics, and forward-looking roadmap, the Mutant Ape Yacht Club stands as one of the most successful NFT expansions in history. Whether you're a longtime collector or new to Web3, MAYC represents a pivotal chapter in the evolution of digital communities.
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