Welcome to the forums..Yes, the card has failed.
You can also go to the EVGA Home Page -> Support -> Guest RMA Page and enter the product serial number to see if it's under warranty..If it's under warranty even though you didn't register it, you can RMA from there.
Solder cracking somewhere on the PCB can cause artifacting, BSODs, freezing and other issues..If your card is artifacting in the BIOS, it's almost certainly faulty.
You can disassemble the card and bake only the PCB
like this (or in the links from Steve above), reassemble and hope for the best..It's recommended to bake the PCB with the GPU-side up so that surface mounted components (RAM chips, GPU chip, etc.) do not fall off when the solder softens/melts..Baking to reflow any solder cracks that might exist may only fix it for a short time, a long time, or not at all.
You can remove and re-use any thermal pads as long as they're not damaged..As a temporary measure, you can salvage as much of the old thermal paste from the GPU chip as you can and re-use it just and run it just to see if baking fixes it or not before buying/applying new thermal paste..A good quality, non-conductive thermal paste like MX-4 (or similar) is recommended..If needed, you can get thermal paste/pad material by searching places like
Newegg,
Performance PCs,
FrozenCPU or similar places/shops in your region.