ApeCoin ($APE), a token for culture, gaming, and commerce used to empower a decentralized community building at the forefront of web3.ApeCoin is owned and operated by the ApeCoin DAO.
Bored Ape Yacht Club owners can now claim the token.ApeCoin DAO a new decentralized autonomous organization created to govern the token and its roadmap forward.
DAO’s Board
THE BOARD:A special council on the APE Foundation — the DAO’s “Board” The initial Board serves a term of six months, after which DAO members will vote annually on Board members.
Alexis Ohanian: Co-founder of Reddit; General Partner & Founder of Seven Seven Six.
He has raised $500 million across two new funds via his venture firm 776.He expects to put most of this new money to work investing in crypto startups.
He says of crypto’s “talent has never led me wrong.””What excites me about crypto are all of the things that no one would know is crypto.”
Amy Wu: Head of Ventures & Gaming at FTX
She is a veteran gaming investor who will be spreading FTX’s bets across the metaverse.FTX Launches $2 Billion Web3 Venture Fund Led by Amy Wu. Wu will also run the crypto exchange’s video game business as it aims to work with major game publishers.
Maaria Bajwa: Principal at Sound Ventures
Yat Siu: Co-founder & Chairman of Animoca Brands
Dean Steinbeck: President & General Counsel at Horizen Labs
APE
Total ApeCoin:1 billion,A Slew of Major Exchanges List Apecoin.
which will be distributed among four main groups: the ApeCoin community (62%), the BAYC founders (8%), Yuga Labs, and charity (16%), and the launch contributors (14%).
150 million tokens from the ecosystem fund were airdropped to holders of BAYC and MAYC -related NFTs in the following proportions:
Bored Ape NFT = 10094
Mutant ape = 2042
Bored Ape + Kennel Club = 10950
Mutant Ape + Kennel Club = 2898
a 25-year-old NFT collector who earned $75,000 the day of the ApeCoin airdrop — before the Bored Ape token surged 90%,Head is super bullish on BAYC, and plans to hold his NFT for the long haul.
“I’ve had my ape for nine months and it is probably the best investment I have ever made in my life. I initially purchased it on a bit of a whim,” he said. “I honestly don’t know if I would ever sell my Ape, It truly feels like being in a very cool club that comes with a lot of very valuable freebies and opportunities.”
Bored Ape NFT volumes spike after ApeCoin launch,With Bored Apes and CryptoPunks under the same Yuga labs, the NFT market barrels toward further centralization.Yuga Labs is also responsible for all the major projects and acquisitions surrounding the Bored Ape Yacht Club. If you want to do anything with Bored Ape IP, you’ll have to go through Yuga Labs.
In a statement, Yuga Labs CEO Nicole Muniz said that “Yuga Labs will continue to be builders of products and experiences that bring new ideas and energy to the community.” Yuga Labs has gifted a special one-of-one NFT to the ApeCoin DAO treasury, and plans to “adopt ApeCoin as the primary token for all new products and services,” which ties its value to the health of the Bored Ape collection as a whole.
Even still, Yuga Labs has insisted it’s not responsible for ApeCoin.Yuga Labs claims zero responsibility for ApeCoin — it’s just taking a significant chunk of the profits.
Coinbase has listed APE under its “experimental asset” category,As such, this isn’t some illiquid name that’s seeing incredible price action.who have seen the price surges in some Bored Ape NFTs may have been inclined to jump aboard the APE train. After all, success often breeds success.
Q1 2022 has been generally bearish for cryptocurrencies, and while NFTs were in a frenzy at the start of the year, they seem to have cooled off. With Yuga Labs making huge announcement after huge announcement, some believe the NFT market will continue to be bullish over the coming months. As for the fungible token markets, much uncertainty around regulations and war seems to have halted upward movement for now.
Bored Ape Yacht Club set the standard in the NFT industry and is clearly the top dog. The project continues to innovate and add utility to its ecosystem. With the recent talent that’s been added to Yuga Lab’s team, many investors are confident in the project’s ability to deliver on its roadmap.
Disclaimer
The views and opinions expressed by the author are for informational purposes only and do not constitute financial, investment, or other advice. NFA DYOR (Not Financial Advice Do Your Own Research)
MetaCreat
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