Recently, BAYCs ecology has made rapid progress. First, its parent company Yuga Labs announced the acquisition of the CryptoPunks and Meebits NFT series developed by Larva Labs, and plans to provide all commercial rights to the two NFT series to holders (see 8 Questions to Understand Why Yuga Labs Acquired CryptoPunks). Later, The Block revealed that Yuga Labs hopes to raise hundreds of millions of dollars by selling virtual land. Today, the decentralized organization ApeCoin DAO announced the official launch of ApeCoin (APE), a token related to the Bored Ape Yacht Club (BYAC) NFT ecosystem. These news undoubtedly brought great joy to BAYC supporters and the entire NFT market. Little surprise.
BAYC (Boring Ape) is definitely the OG of NFT projects. Although the series was officially launched in April last year, it quickly detonated the Internet, and the price has also risen. The unit price once reached millions of dollars. In January of this year, the floor price of BAYC broke through 100 ETH, reaching a new milestone. Compared with the CryptoPunks series, which is considered to be Bitcoin in NFT, BAYC crushes the former in terms of richness of gameplay, community activity, and ecological openness, and is often called Ethereum in NFT.
As soon as the news came out this morning, BAYCs 24-hour transaction volume exceeded 6,693 ETH (worth more than 17 million US dollars), topping the OpenSea platforms transaction volume within the past 24 hours.
At the same time, affected by this, the transaction volume of the Ape series (now a huge NFT group) has increased significantly in the past 24 hours. Among them, the transaction volume of Mutant Ape Yacht Club reached 5094.36 ETH, and the transaction volume of Bored Ape Kennel Club reached 2372.05 ETH, ranking second and third in the past 24 hours of NFT series transactions.
secondary title
first,
first,ApeCoin is owned and operated by the decentralized organization ApeCoin DAO，Yuga Labs, the parent company of BAYC, is not directly involved in the issuance of ApeCoin(for regulatory considerations).
per ApeCoinHolders can vote on the governance and use of the ecosystem fund, holding ApeCoin is the only requirement for ApeCoin DAO members. The DAO is supported by the Ape Foundation. The main function of the Foundation is to act as a legal steward and manage decisions made by the ApeCoin DAO community.(Note: There is no formal proposal on the Snapshot, butOfficial ForumsAmong them, the Staking Proposal proposed by Animoca Brands received more views. )
As an ERC-20 governance and utility token, ApeCoin will be used throughout the Ape ecosystem, itsas follows:as follows:
Governance: ApeCoin is the governance token of the ecosystem, allowing ApeCoin holders to participate in ApeCoin DAO;
Unified spending: ApeCoin is the utility token of the ecosystem, providing a shared and open currency for all participants, usable without a centralized intermediary;
Access rights: ApeCoin provides access to parts of the ecosystem that are not otherwise available, such as exclusive games, merchandise, events and services;
economic model
economic modelOn the other hand, the total supply of ApeCoin is 1 billion pieces, of which 62% will be allocated to the ApeCoin community, 15% will be open for airdrop application at 8:30 on March 17, EST (20:30 Beijing time), and 16% will be allocated to Yuga Labs and its supported charities, 14% are distributed to project launch contributors, and 8% are distributed to the four co-founders of Yuga Labs and BAYC. more details,See the official website for details。
airdropairdrop。
Airdrops will be provided to holders of series NFT combinations, such as BAYC/MAYC NFT holders (Bored Apes and Mutant Apes, and BAKC dogs paired with BAYC or MAYC). Those who only hold 1 Bored Ape NFT can receive 10,094 APE; those who only hold Mutant Ape can receive 2,042; those who hold both Bored Ape and Kennel Club can receive 10,950; those who hold both Mutant Ape and Kennel Club can receive 2,898 pieces.
Some players who miscalculated or want to get more airdropped APE are trying to work harder before claiming, such as buying potions frantically to increase the amount of token distribution. But according to official sources, this is not counted.
secondary title
Future Development of ApeCoin
Although, most people are happy to hear the news of the coin issuance of the top NFT project. However, we have also seen that some NFT project communities aroused a wave of emotions by issuing tokens after they gradually grew, but did not conduct detailed discussions on the specific utility of tokens, nor did they develop projects sustainably, causing their prices to plummet. It even affected the word-of-mouth and support that the original NFT series has worked so hard to build.
ApeCoin has obviously fully assessed the market prospects and learned the past lessons of some short-lived projects.
It is currently known that BAYC will cooperate with nWayPlay, an NFT trading platform under Animoca Brands, to develop new P2E games, and will use ApeCoin as the in-game currency. Mobile Games by Animoca BrandsBenji BananasIt will also transition to a P2E model, earning tokens can be exchanged for ApeCoin.
In addition, Yuga Labs is also planning to build a game-centric metaverse called MetaRPG, which is compatible with many NFTs. An in-game app store in the project will allow players to use NFTs they own or create characters from scratch and use them in-game. According to related news, Yuga Labs will use ApeCoin for in-game transactions.
These big events in the roadmap are all stabilizing and strengthening the fundamentals of ApeCoin.
In addition, amidst the noise, Odaily also warmly reminded:
(1) ApeCoin has announced the official smart contract address on Twitter: 0x4d224452801ACEd8B2F0aebE155379bb5D594381. The airdrop will not start until 20:30 on March 17th, Beijing time, and fraudsters have already appeared. Apecoin.com is the only official website, users should always be very vigilant when connecting their wallets to the website, and never enter any wallet seed words.
(2) ApeCoin has not yet landed on major crypto exchanges. Some leading exchanges, such as FTX, Coinbase, OKX, Huobi, Binance US, etc., have announced that they will be launched soon. Please also look for the official announcements of the exchanges and the official news of ApeCoin (Twitter:https://twitter.com/apecoin), do not FOMO, in case of counterfeit currency.
