ApeCoin for Fraction of a Price for BAYC’s NFT Holders

18.03.2022 07:02
by Anđelija Anđelić
1 min read

Bored Ape Yacht Club has launched yesterday a new coin – ApeCoin, “a token for culture, gaming, and commerce”, as the creators explained. This new ApeCoin will be supported and governed by ApeCoinDAO, a newly formed decentralised autonomous organisation, not BAYC or Yuga Labs.

BAYC issued ApeCoin token with a drop for holders of their NFTs, with 15% of the total supply of ApeCoin made available to those who own an original Bored Ape or a Mutant Ape. For a monkey worth $250k at the current exchange rate, they offer $80k somewhere.

The only condition for membership in the ApeCoinDAO is holding ApeCoin. ApeCoinDAO exists to give Ape token holders a vote on fund allocations, governance rules, projects, partnerships, and beyond.

Author

  • Anđelija Anđelić is an Italian language and lit major, and investigative journalist with a special interest in the crypto world and tech innovations. Exploring the ways our world is changing and bringing the freshest info is her passion.

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