Yuga Labs, founder of the Bored Ape Yacht Club, are launching a new cryptocurrency
Yuga Labs, founder of the Bored Ape Yacht Club, are launching a new cryptocurrency
The Juggernaut, the Bored Ape Yacht Club, shows no signs of slowing down. The founding company Yuga Labs announced the introduction of a new cryptocurrency to be used to further build the ecosystem around the popular NFT collection. With the apt title Aepecoin it will be the “primary token for all new products and services” of the company.
BayC success
If you have not lived under a rock, you will be familiar with the comet -like success story of the Bored Ape Yacht Club. The cartoon monkeys are the most sought-after NFTs in crypto, with the highest minimum price of 85 ETH ($ 238,000), even before cryptopunks (62 ETH = $ 174,000). They have defined the template for success and not only focused on art - similar to how many NFTs, nothing particularly unique - but also on building a community.
It is this community aspect that so successfully lifts it off the crowd. As soon as you have a bored ape, you only get access to an exclusive club with numerous advantages for members. There are many noted member yacht parties in Miami, exclusive goods and thrown prices to name just a few. IP rights were also granted to the owners, which is often not the case with NFTS.
Another blessing for the collection was the influx of celebrities. Eminem, Snoop Dogg, Jimmy Fallon and Steph Curry are just a few of the celebrities who bought Apes. If you set them as your Twitter avatare, the publicity that attracts sales in addition to the prestige and desirability, which are associated with these top-class celebrities, serves as the best kind of advertising.
Next steps
The founders do not let in. At the beginning of this week, you You had announced the IP rights to Bought of cryptopunks, the second largest collection in the room. The story has always been that BayC and Cryptopunks were rivals, the two most sought -after collections in the room, so the acquisition was completely out of the left field. Think of the merger of Apple and Google - it is a breathtaking deal. The minimum price of BayC rose by 18 %in the news.
And they do not rest on their laurels and are now launching a new cryptocurrency to get into the rapidly growing ecosystem.
apecoin
apecoin is set up regardless of Yuga Labs. It is monitored by APECOIN DAO, and therefore the community will monitor governance, with every apecoin token a voice. 1 billion apecoin tokens are made available and sales are used to finance the DAO.
The first plans stipulate that a play-to-ear-blockchain game will be published in the coming months, whereby APECOIN is to be used as an in-game currency. The DAO plans to use funds for the development of the game, the production of goods and the start of further events. The idea is also that Apecoin could go beyond the BayC ecosystem-Benji Bananas, another game, will support the currency, and the hope is that further crypto games will follow.
tokenomik
However,I noticed that APECOIN, although it was founded independently of Yuga Labs, will still be involved. A large part of 15 % of all tokens is retained, which gives them considerable voting rights. Yes, it will be a decentralized unit, but don't let us overlook the fact that you will have a significant impact on future developments. To make matters worse, the founders of BayC receive 14 % of the tokens, 15 % of the tokens go to the very first owners of Bored Apes and those who work on the introduction of DAO receive 8 %.
If you count, this corresponds to over half of the already blocked tokens, which would suggest me to think here. Sure, the heads behind the BayC project did a masterly work to transform these cartoons into a dominant empire, but it would be nice to see a more decentralized, community-controlled distribution of the tokens.
In addition to the tokenomics, this is another sign that the unstoppable power of these monkeys does not subside. Expansion into blockchain gaming is ambitious and aggressive. But with a 7-day volume of $ 33 million, celebrities who stand in line to get involved, and the entire crypto world, who dreams of owning one-why not take advantage of the mass popularity of the collection and try to further build up the empire?Source: Coinlist.me
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