Bored Ape NFT Unveils ApeCoin, Announces Future Plans for Gaming Activities

According to a Twitter thread from the official Bored Ape Yacht Club (BAYC) account, Bored Ape creator Yuga Labs, has unveiled the ApeCoin token, which could open opportunities for gaming and virtual trials.

Bored Ape NFT Ecosystem

ApeCoin (APE) is an ERC-20 token used within the APE ecosystem. The coin which allows ApeCoin holders to participate in ApeCoin DAO will also be used to access games, merchandise, events, and services. The highly famed crypto token trussed to bored Ape NFT community was discovered this Wednesday.

Among the rapidly-growing crypto startups, Yuga Labs, has encountered an explosive year dealing with the NFT project Bored Apes Yacht Club (BAYC) that launched last April. The network rapidly grew, and BAYC became a more valuable NFT in the market cap at large. 

However, there has been a price of admission in purchasing the cheapest of the 10000 images, and at the moment, the price settles at $24000. 

According to the startups, it is reported that the banks are looking for a funding estimate of $5 billion valuations. On further questioning, the spokesperson for the company refused to give deeper details about the figures. Yuga Labs is currently optimistic towards a new dawn for the future and creating a new partnership for a play-to-earn gaming title built around a highly famed token called ApeCoin.

Bored Ape Yatch Club Airdrop

According to the BAYC Twitter thread, an airdrop will be carried out in favor of the distribution in question. Some of the threads read;

“62% of the total supply of ApeCoin is allocated to the ApeCoin community, a portion of which (15% of total supply) will be available to claim starting tomorrow at 8:30 am ET. The airdrop claim consisting of 15% of the total supply of ApeCoin will be made available to @BoredApeYC NFT holders (Bored Apes and Mutant Apes, as well as [Bored Ape Kennel Club] dogs paired with either #BAYC or #MAYC).”

ApeCoin promises to avail its services to everyone who will wish to have some, which is soon expected to trade on major crypto exchanges. According to ApeCoin’s official website, there is an inclusion regarding a special council being brought on board and tied to DAO, which will comprise several big names in the crypto world such as Sound Ventures Maaria Bajwa, Reddit co-founder Alexis Ohanian, Animoca brands co-founder Yat Siu.

Moreover, the token holders will be allowed to vote for a DAO. A special counsel has a responsibility to carry out the decisions of the community regardless of its earlier announcement that it won’t be in a position for Yuga to launch the ethereum based token officially; instead, the BAYC project founder will have the mandate to own nearly a quarter of the total token supply and the owner of the Bored Apes, and Mutant Apes will collectively share the 15% of the total token.

Furthermore, following this article publication, Coinbase announced that it would add further support for APE with the Experimental label.