Bored Ape Yacht Club (BAYC), a popular charitable non-fungible token (NFT) marketplace, has announced to offer 10,000 ApeCoins to Bored Ape NFT holders. NFT holders will use these tokens as a primary token in a new ecosystem of play-to-earn (P2E) games from Yuga Labs and Animoca Brands.
According to ApeDAO, a decentralized autonomous organization behind the development of the new ApeCoin tokens, owners of Bored Ape Yacht Club non-fungible tokens NFTs, including top celebrities holders such as Eminem, Steph Curry, Jimmy Fallon, and Mark Cuban, will receive 10,000 ApeCoins for being part of the exclusive digital asset club.
ApeDAO has also announced that it will unleash another one billion ApeCoins in the coming months. In this batch, 62% of the total supply will be added to an ecosystem fund, while 14% will go to launch contributors. Another 9.75% will go towards the creator of BAYC, Yuga Labs, and 8% to go directly to the founders of Yuga Labs.
The team said that it will donate the remaining 6.25% to the Jane Goodall Foundation, a charity dedicated preserve habitation of Chimpanzees. Although ApeCoins remains technically separate from Yuga Labs, the firm will fully adopt these tokens as the “primary token for all new products and services that Yuga Labs offers.
According to Yuga Labs, the usage of ApeCoin is included in the highly anticipated play-to-earn blockchain-based NFT game that Yuga expects to unleash later this year with online game developer nWay.
ApeCoins To Be Used In Multiple Platforms
According to the team, NFT holders will also use ApeCoin tokens in the upcoming play-to-earn game Benji Bananas, a blockchain-powered Hong Kong-based gaming company and owner of nWay, Animoca Brands.
While commenting about this crypto development, Yat Siu, co-founder of Animoca Brands and ApeDAO board member, said that ApeCoin is a milestone in the progression of non-fungible tokens, adding:
“ApeCoin is a token that represents the zeitgeist of NFTs today. It is, in a sense, the expression of the current culture of NFTs. ApeCoin will become the Dogecoin of NFTs where the utility is community created and community valued.”
Although Siu is optimistic about the future of ApeCoin, he noted that they would provide more utilities straight away throughout the games:
“ApeCoin itself has some starting utility, which will kick off with games and more to come. The benefits will be the creative energy that combines this mix of technology and culture that the BAYC community has kicked off already which will reach much larger audiences due to the fungible and transferable nature of ApeCoin.”
Since its official launch in April 2021, Bored Ape Yacht Club has significantly grown to become the highest-profile NFT collection. The platform has attracted more high-profile celebrities, now including Paris Hilton.
Last week, Yuga Labs successfully acquired two of the largest NFT projects, CryptoPunks and Meebits, to expand its NFTs dominance in the rapidly growing NFT market.In the meantime, according to Yuga Labs’ official website, ApeCoins will be available in all major crypto exchanges.
With a lot more in the pipeline, Bored Ape Yacht Club promises to revolutionize the NFT world in the coming months.
